, 1874-10-05
pon'tod nothing aud porlsaps wanted money, mud
10 whom hc must lont1. Tint 10 abundant
moaia for banklng and poor n,onns for banking,

THE rREfEST1fE OF TANIE8,
Mr. DodE0-Iho point wo would llko to rot nj
nou ia tttu. Can auything DO lono 10 prevo,lt
Prof. prico-Thcn I must pauB over 10 tho
othor sile, aud take up tho sk nan. The banA-
md ho Collects il BY giying It 10 tho silk man to
nes, 5 thcra is no desruction. @ Il MY When saG pasday
conlos ho has sold his sllk, aud loro ia no lisas-
tor. Tho buying and the aolling oqualze ono
man Of great estate. eli. 900 year, wlloBe laud
ID capable Of great deal Of improvement, and
who wontg to lay out eco, 1000 upon II. The
banker 70 aatlailoa witt, tho eolida!ssys asys
10 drain his laud with. The man goes
on draining, and what takes place? ne
puts laborcrs to work. Thoy cat, thcy drink,
they wear their clothes out, and 30 on. Illo
1y 6? e0ute .. " Wat has
ty, which is not reproduced. II you Toro to aot
all tho infabitautn to making hoioB IN tho
ground. aud thou to fill thom up again, tho ro-
suit would DO that at tho oud Of tho yoar they
collins rcady, becauao you Aavo boon ostug up
all your stores, and when tho operation ID oxor
{on hare nothing at al. Then how ia Mr..
Banker IN LID position. The Squire cannot pay.
so due f' T ess cee not lfss ss yesrs snca e
mon has boon used up. Now, thla
making OF railroads, warehouses, bcautiful
towns. oto.. arc not foolish tbinga, but they arc
TINT 10 poverty. Poverty means that tlloro nTo no
goods 10 sol! and when thero arc no goods to sell
there arc no gooda to buy With. The banl!er'a
regourccs fall therefore. Thon como tho crigcB::
proporty which is not replncod They nro tho
truo children Of poverty, mud that kind of
poverty which producos crIoos Is neyor moro
fostescd than whom bnnlsers encourage useful
lhnge. things usoful twenty yenrs from this
day. Tho raliroad doou not replace its money
for fifty years. II tho actua outlay is 1o,ooo,-
600, tha E1o, 400 spent n food, ETC., nro not
repiaced for nifty years. Tho nation Is poor
noyer ss ' I y''fe o Now pods2ant ES 1% "i y a IT,
Sstpeon eho two mon @ s that bis dopouits 'su5 arc
coming nhort. which 1ncanB That thore Ii no
longer any sale Of goods, Why2 Because you
IL as' way nS9 nhic Vii ioso I It for ty = years. s i
no better. NJ ftr aa banking ls concerned. than
II you Ind " "chucicl it into tho sca. Thoro-
foro tllcro is deficiency Of properly made.
Anlombot-fou ead, when you Htartctl, TINT
Now, I understand you to saY that this dostruo-
ton docs produce these criBcs.
Prot. pr1ce-The difference Is this: In tho
case OF tho cotton famiuo in tho Of the war,
deficiency OF consumption. Ths people who
have got to Bpoud, spend losa.
pASuEn OF MISUNDERSTANDING.
In tho caso OF tho railway -lnnkt1g, you SO on
drinking champagne aud clarot but When tho
harvest is bad' up coca tho price of wheat, and
tho number Of paoplo who Bpoud 10 lcHa.
A mombor--N'llat is Tho duty Of tho banker
under such circumstances?
Prof rrico--If le has lent in such wny, ho
must suffer.
A 1neuibor-Aa q system, what Is to bo dono?
Pref. prro-I waH coming to that. It is q
charming question: [Laugllsor.1 suspect my
friand is j baukor. will draw tho moral. TO
what extent 1nny nation carry On t[ieao e1-
cellent expenditures, without getting into great
drain Ills land ? Can anybody toll mo Ten
mon ln my Oxford class would hnYo answered.
Mr. Dodge-If tho Squire, inutcnd Of putting
.rG0, 900 ip his draining, had spent In certain
amount 70 aa to tncro2ne his crop. ho would have
Prof. pslco-yon may easily put ,c1o FIJI aero
upon draining. You may possibly uozs year got
/ bushels Of corn moro.
Mr. Dodge Then lo ia about II in ,c10 out Of
pockot.
Prot. rricc-Thnt is It, Now, whcrs arc our
aavluga? What do no mcan BY national cay
ings?
i mcmbcr-W1at TO produce that vo don't
destroy.
riclloat lands wost-Tou'd bo yory productive ii
there Noro my meanB Of Hondfng tho results Of
their production to good market. So tho rail-
roads giyo 10 these lai1la yast valuo.
Prof. Prico-I ito not dony that tho Squire is
dojns good work; but sha question IL, Can ho
A ,no!nber-no might havo got IN aecumula-
ton beforehand.
Prof. Prico-What 40 you mean by tic savings
My frloua has we'll said TINT it il tho Hurplus OF
what yon tnko in compnriBon with wllat yon
consnnle. Il El00 more, you have that amount
to put in railroads. But i you 60 beyond that
amount you do wrong: Tic sarinsa Of tho na-
parison with tho things it 0ousuulcH. mud that
e1caas, il It employs it wiaely, Mill mako tho ua-
tio,. rchor. But, If it 'c.uoks' it into tho sea,
it will remain stationary. Tic sccret Of criaca
s tho bali11ain ho'on1 tho saygs Of useful
ing TINT it is n fine thing to open tic WeHt. and
you in that way spontl II 2OU iuHtcad Of II 900,
you arc in u bad scrapo for tho IaO0.
4 nonlhor-Supposo you haYo tho .c210 bo-
foro5
rrof. price--I include all tllnt aB part Of tho
savings: Tic operation OF the money market IL
that MI catch tho sanguiuo fooling Of people
who get thoir profits by the ups and downs
Of aharos. Ths natiopH gets involved in
raways ] % reman % hsf a sdo s All yia .hat sn as Gsen
epent upon them IL lost property, gono into fol-
lows throats, worn out upon their feet. You
hnye got an Incomplete railway. Then comea
i'll tue baukor Ills people have no goods to sell,
NaA hAS aAAHAJ Ao AAAA1Abh AOsAaAhs AVN AVA
tho moral. Not q stupid rulo Tor bankers
to iock. up their gold. Not tho rubbibh thoy
gay about currency. What is happening
70 goods9 Is tho harvest going to 10 bad ?
Don't encourage now railways. II tlero iB
prospect Of large crops, then yon may bo much
more liberal Tho moral to tho bsnkora Is. Look
70 tho slate Of uings, made, the quantity Of
broad mado clothos.. Ehoes, otc. Some banks
nny say. TAN l to look at ati TINT Am to
watch tho progreaa Of tho nation and know what
ArNrYf1linr = fNtt nr9cf}raf
fellow. Yon don't understand tho banking
world" Very vol thon. Il,on comes tho wl,irl-
wind. Don't blamo mo. It socms to mo just M
though you deliberately said that you would
rather have the storms than do III I say.
This fluishel tile address, J. 8. r. stranalan
offered . resolution tcnacripg tho thanlts Of the
Chamber to Prof. Prics for his Instructive dis
eourso. This Was adopted, aud tho moeting
adjourned.
Prehistoric Eect.aaina III Occnzia.
It may bo remembered, Aays tue London
academy that whom Magellan discovered the
Philippines lo Waa astoniahol to light upon ali
Arabic alphabet in uso nt Cabu. On inquiry Le
found that somewhere about tho ninth century
Il