The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1873-10-11
EaOlGlinE Back Tortgagetl Cot.
tOn-Hs At IEonesG

tOn-ls it gE0nest
The prominent position which Mr.. D
Wyatt Aiken hollis in the agricultural
societies Of the State entities him TO be
regarded AK their representative, AMI
gives to HE -icus an Importance which
they might mt othPrwiss posscs.. s,
long as he diseourscs on topics cnnnec-
ted with the interest to which he ha s
devoted his laborH. We confess ovr iguo
rance and listen rs to one speaking " ith
authority. BIT when, exceeding tboa G
limits, he lectures OIL finance aud promu. i.
yea n code of morals for his constitute s,s
We sre at lib, rty to question his ability.
and dispute his instruction, although we
never held pl"ugh or handled .
he
Wo do not propose e. discus, Mr.
Aikenk peculiar views Of finance as
expressed in his CokcSbury letter. We
would only suggest to him to inrorm
bimsolf upona subj.c, bcfnrc La ventures
to write upnr it >r.et't.lrl. for tho Q il
hardly statem.nt in his lctt-r which -
not nm error; hardly on.lusi,n which
Is not illr"Gieally d avn frrm his state
ments. We have MT time to review
them all let one example suffice.
Speaking Of the circulation of she Ma.
iional Banks he says it is ,gally yestrict
ted but who ever examin IS to learn
whether they issu- one hundred thou.
sand dollars or one million ?" Ia il
pesSible tha, MT. Aiken does not know
that every bill which National Bank
isNues is furnished 10 1t lrnrn Washing.
ton, is signed by abe Treasury officials
at Washington, asd that the amount
Of thnse bills is regulated by th amount
ofbonds deposited in che UDitci States
Treasury by the IS.uk! ABl did il
never occur to Mr. Aiken that i his
statement vas correct. and the issue Of
bills was unrestricted that not one Of
the suspension he complains Of wonld
have occurred? rhe banks suspended
because they had no bills and could get
none. Mr.. Aikcns statements and his
conclusions, like the famous Kilkenny
cats eat each other up.
1t seems ais, To hsvs entirely escaped
MIR. AikGn's attention thas the most
extensive and di,astfous financial revul.
sions have occurred when there were no
national banks, when circulation was
based on gold and silver, and when there
was, practically, no Limit to he power Of
issuing bills. But, as wo said before,
the financial viows Of Mr.. Aiken, how
ever original; do no. interest US, that
which does excite in US feeling OF
alarm -aud he win paadoo US for saying
g feeling also Of iudignat tion-is the
new code Of morals which he sesks 20
iDstiIl into the planters Of the State. 1t
is but justice to Mr.. Aiken to say that
acquit BIN Of all intention to do wrong;
but the evrors Of even good men often
produce ipcAlculable mischief. We are
willing TO believe shat Mr.. Aiken does
not pTsesive the logical consequence of
his own teaching; bus, disguise it from
hinSolf as he may, his remedy for tho
evil begins aud ends in sheer diShonss-
ty. Ii his instructions were reduced to
practice, the agricultural interest ofthe
State would be irretrievably landed in
bankruptcy, moral and material This
We do not state this too strongly let as
examine tbs instruction. What il tho
ad rice, which Mr.. Aiken gives to the
plaRtsrsP To hold their cotton,
Admirable advice il the planter vas
free ofdcbt, and his cotton free oflisn,