The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1872-07-11
The Cash Famine.

The Cash Famine.
We held in an article few days since, that
one of the conditions of prosperity" was that
"our money must be kept at home" So plain
and self-evident O proposition we felt sure
would commend itself to the acceptance of all
thinking men. But we find that one "E. l.. y
has written letter in reply to that portion OF
our article, in which he labors to establish the
remarkable doctrine that the less money we
have in the State, the more rich and prosperous
we shall be, and hence advocates, by implica-
tion, the sending of all our money out OF the
country for, he says, "no nation or people
ever thrive long who keep their money at
home" We take pleasure in introducing this
rising ~ political economist to the notice OF
the country, and bespeak for him and his philo..
sophy the cordial appreciation OF all good
Democrats. 1t is the best and most honest ex-
position of the free trade doctrine in the few
est words we have ever seen.
IF the principle that "no nation or people
ever thfived long who kept their money at
home" is sound doctrine for the State it must
be also for the individual. Hence the way to
thrive" according to "E. L." is for each man
to get rid of his pile. "No man." to make the
application, "ever thrived long who kept his
money at home" We will not attempt to an
swer so profound proposition. 1t knocks the
old theory into pi, "get all you can and keep
what you have"
| His next statement is quite as remarkable.
~ 1t is perfect syllogism. 1t is this:
"The Chinese and Japanese, for ages, we're
sealed book to the European. They kept
their money at home but what value had that
money? Little or none, when we see that TOR
about one cent in value of our money the
Chinaman could purchase a days supply OF
provision for himself and family"
There is logic for you! To say that money
has no value when one cent will purchase a
days provision for man and his familyl!!
| If our little store had such purchasing value,
we might safely consider ourselves in very good
circumstances.
"For hundreds of years the Indies have been
depicting Europe of her coin, which never
again returns to its source. This has not made
the latter nation poor. In fact, her people
have worked the harder, and have become
rich, and to-day they lead the van of ciylllza-
| tion.'
aEurope" is large "nation" to be easily
| depleted it was slip OF the pen, and
the writer had England more particularly In
mind. Well, take her for an example then
She had no national wealth, strength or inn.
portance till she, by high protective tariff,
brought the looms and factories of Germany to
her own soil, and caused money to flow into
her Golfers, instead of flowing out, to enrich
other nations. Her people did indeed work
harder, and grow rich, simply because by a
wise political economy she sold more goods
abroad than she brought back. The balance
has increased her wealth, and made her pros
porous and great.
Tho same may be said of New England =
Had she depended on her sterile soil alone, she
would. to-day have been as poor and weak as
S.oisss.e. Carolina Experience is the best teach
er, and this is sufficient answer to the follow
ing absurd statements:
IA climate and q land that can produce corn
and cotton in abundance, it would be criminal
to neglect for that of manufactures From that
moment we would begin to go down in the
scale of prosperity; the prices of provisions
would advance, and so would that OF clothing
a thousand manufactures in South Carolina,
would do more to bring into cultivation every
acre of her arabic land and develop all her re-
sources than anything else. In fact, nothing
else can bring us as people to high state of
prosperity. The experience of Great Britain
7 end New England has proved that the most
SStual way to develop agricultural resources
| IS TO establish manufactures. 1t creates
haze zmarket for produce at good prices.
l~rsr5Hr present condition is full of humiliation
81 embarrassment There is now, and every
? .;Ginmer. a perfect famine of money. Every
BODY is out of funds. For six months of the
wear business is practically at stand-still, be-
cause the great medium of exchange has been
sent out of the State For half the year peo-
pie may he said to exist, but not to live. Like
| a ships crew at sea- short of provisions, they
pinch along on half rations, while the COM
forts and luxuries are entirely out of the ques-
ton. Men are going from store to store, to
get little credit till they can obtain some on
money. Merchants cannot collect their bills,
and are compelled to borrow at ruinous rates OF
interest to meet their Northern obligations.
| This cash famine is ruinous to the laborer.
! H. cannot get fair price or ready pay, for his
work, and his suffering and discontent become
great in proportion.
man. He cannot, perhaps, obtain the money
which Justly belongs to him, and he cannot
afford to pay the extravagant rates of interest.
Hence he has no money to distribute among
the people by employing labor.
This cash famine is disastrous to the merchant.
Obliged to bring his goods from great dis
tance, paying enormous freights, and being
obliged to wait for his pay, he must charge two
or three prices for his goods, which again ope-
rates against large sales. :
Thus we have whole series of disasters, af-
fecting every class and every individual of the
community, and all resulting from sending our
only medium of exchange away from the State.
When our people shall learn better economy
and manufacture as large share as possible OF
the articles we need, the money paid out for
these things will still remain at home. The
money market will be easy; merchants, busi-
ness men, laborers, all classes will thrive. Ac-
tivity will be the law, and all will prosper
Colun,bia Daily Union.
HES-UNDRUMs.-Wh is a hen immortal
Her son never sets. Why have chickens nc
>. a.. f,tnro9 1'bov hovo thair neyt