Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1890-12-12
THE WRECK IN ARGENTINE.
HISTORY OF THE POLICY THAT
RUINED THE REPUBLIC
FINANCIALLY.
A NATIONAL MORTGAGE
SYSTEM.

! SY STEM.
The Disastrous SCHEME CoMpABsD TO
THE PLAN PRoposED BY THE FARM
ER's ALLIANCE IN TINS COUNTRY.
The Argentine Republic, with
gold at 161, is an object lesson for
all who are attracted toward the
doctrines of tho Farmers Alliance,
says u Washington correspondent
of the Cincinnati Commercial Ga
zette. The National Grange. at it's
Atlanta session, declared in favor
of the government loaning money
to individuals OIL lands or other
good securities.
The Argentine Republic has been
doing exactly this thing for its
farmers and other citizens. and hav.
ing sown the wind Ia reaping the
whirlwind. Its misfortunoS should
fix the attention of every thought.
tul voter in our land. The points
of the lesson stand out as bright us
the sun in the heavens. The fl.
nances of great, rich and rapidly
growing nation have been almost
hopelessly involved.
International disorders have tn.
ken the place of peace. The nation
al securities are dishonored, and
through the Barings, whose calarn.
ity resulted from free Investments
in these bonds. the financial world
was shaken in all OF it's centers, and
except for extraordinary and un
precedented assistance universal
panic and widespread disaster
would have followed, both for Eu-
r0peanl America.
I5lyless 81. tho iootllold which the
vess that has 50 nearly ruin.
c>Nsas vent Ina Republic has gain
edaatlia ~ liifesi States. the study
of the problemgwhicss tho Farmers
Alliance is forcing upon this coun-
try become u matter of startling
national concern.
FACTS ABOUT ARGENTIrE.
; A few facts. taken uleinly from
the recent work OF Mr. W. E. Cur.
It's, on the Capitals of SouthAmer.
ica, will show the condition of this
nation which Farmers Alliance
policy has so seriously crippled.
The increase Of population in the
Argentine Republic during the past
twenty five years has been 154 per
cent. while in the same time in the
United States it has been only 70
per cent. Twenty-three lines OF
steamships connect that republic
with Europe. and from forty to fifty
vessels are sailing back and forth
each month. The imports of man
utactured merchandise are nearly
SlO0,O00,000 year. The pampas
already produce fruit enough for
domestic use and 100000 bushels
beside for export. There are more
sheep in it's pastures than. are own
ed by any country in the world,and
tile wool export is, in round num-
bers, 2O0,O00,O0O pounds. The cat
tie trade with Europe is already i'm
mense, and beef and mutton are
sent to England in the refrigerator
ships at prices which we cannot
compete with.
There are banks in the republic
with greater capital than any in
the United States. For example,
the Provincial Bank has capital
Of S33,0O0,0OO and SG7.0OO,O0O of
deposits. It does more business
than any of our banks, and more
than the Imperial Bank of Ger
many, being exceeded by only two
banks in the world. The National
Bank has capital of $4,000. 900,
another has Ss,OOO,OOO, another
$7O0O,0O0, and several s5,OOO,OOO
each. Comparing the banking cap
ital and the deposits Of the Repub.
lie with those of the United States,
we find that they amount to SOL
per capita there against $40 per
capita here. There are more daily
papers in Buenos Ayres than in
AJ,u ux.t. M,