The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1874-01-23
The Money Question

In Congress is now attracting the at
tention Of all reading people. Samuel
Carey, the great orator who stumped Ohio
for Allen last year, said in speech few
months ago, TO the workingmen Of Gin
cinnati, that England or France had
nearly double the money to each in
habitant that the United States has
This declation was not contradicted IN
til Senator Sherman Of Ohio, a few days
ago, said we had more than England or
France. There, now, is a question of
veracIty. While we leave it to Carey and
to Sherman to settle, we know that when
wheat is scarce it sells for more than
when it is not, and we know that when
money is scarce it draws more interest
than when it is plenty. These things
we know, not from what any great man
says, but from our own experience
When wheat brings 50 to 81 per bushel
we know that it must be scarce. When
money brings from 10 to go per cent we
know it must be scarce. We know that
money Is hard to borrow, and that Is to
"a per cent is offered for its use here in
Perry county, Ohio. am informed by
a gentleman, just from Texas, and
who has been through Missouri and
Arkansas, that money brings as high as
so per cent in portions of these states
These things we know, we don't de-
pend on Senators or ex-Senators to find
them out.
The debate in Congress, now just be-
gun, shows two parties, not Democratic
and Republican exactly, but two par
ties, one seemingly, to represent the
money lender and the other the money
borrower. Senator Sherman, class
among the money lenders, or the agent
of the money lenders. He thinks there /
is money enough. This suits the len
der exactly. But even admitting that |
he is right and truthful in saying we
have more than England or France has
per head, is it not evident to US all that I
we need more? In England and France
the Court-houses, the palaces, the turn-
pixies, the manufactures, the cities are |
all built Their iron furnaces are done, /
their rolling mills are built, and all they
need money for now is to keep them in
repair. Not so with us. We are a
young nation, a progressive people, and
we need money TO develop our roads, our
mines, our factories and urpublic bull
dings. We ought to have more money
per capita than any nation on earth.
In England money is loaned at and
4 per cent. This fact either proves it to
be more plentiful there, or, if not more
plentiful that there is less demand for
it. One of these propositions it must
prove. don't care which it proves, it
also proves there is more demand for
money here in the United States, or else
that we have less money to the head,
because her money is loaned at double
and triple the rates obtainable in En-
gland.
1t is not likely that we are to have an
increase of money just now, for in this
country it is not usual for labor to make
itself heard in the presence of capital.
The money lenders are likely to prevail
for the time being, at least, but, the time,
is not far off when numbers will prevail
over the oppressors of numbers, when
the many will prevail over the few,
when money will be worth no more in
terest in America than it is now worth
in Europe. MARTIN KAGAY.