The National tribune. [volume] (Washington, D.C.) 1877-1917, 1890-11-20
PENSIONS SAVE THE COUNTRY.


PENSIONS SAVE THE COUNTRY.
The thinking, observing man has no doubt
whatever that the passage Of the Disability
BID proved TO be the salvation of the conn
try in the financial stress through which it
has been passing.
A panic was more than once barely
ayerted by the help of the Secretary of
the Treasury and the determined efforts
Of some of the leading business men. When
the strain came last week the Secretary
Of the Treasury declared himself at the
end of his resources, and could do no
more TO help. Previous 10 this he had re-
lieyed the money market by buying up a
few millions of bonds and paying some in
te.est in advance. But all this help was Of
small importance compared to that given by
the distribution through the country OF tens
OF millions of dollars in pensions, which
went Immediately into the pockets Of the
whole people everywhere, greatly increased
the volume Of the circulating medium, and
gave a confidence and cheerfulness that moth
ing else could have done. Dollar for dollar
the money paid out as pensions did much
more good than that expended for bonds and
interest. The latter went into the vaults Of
the New York banks, and much of it d.
rectly into the hands of those who were
scheming TO produce the striDgency. 1t be-
came power in their hands to promote the
very condition that its disbursement was
intended 20 prevent They locked it up as
they did other funds, and with il made an
other turn in the screw they were pressing
upon the business of the country.
Not so with the money paid out for pen
siOns. Invent in small amounts to men and
women scattered through every Township
and School District in the East, North and
West A very large portion Of it was dis
tributed through the South, also. The men
and women who received it needed every
dollar Of it for their immediate wants. They
did not hoard it, but put it at once into
circulation. Every sort Of business got
somebeneft The dry-goods merchants, shoe
dealers, gTocers, butchers, doctors, real estate
owners-everybody, in short, who supply
the wants Of life-all got n share of the
money.
In all, the Pension Bureau has drawn out
Of the Treasury S6i,OOO,OOO since the 1st of
July. ofthis, fully S45OOO,OOO has already
been distributed TO the country, leaving
Sl9O0OOOO TO be distributed between now
and the lst Of January. This is practically
adding, inside Of six months, TO the ready
money Of the country over 81 per head for
every man, woman and child in the Nation
Owing TO the manner in which this was put
into circulation it counted for perhaps %
times as much, for where the veteran paid $40
Of his pension 10 Jones 10 liquidate his in
debtedncss, Jones Immediately used il TO
square his accounts with Smith, Smith with
Brown, Brown TO Briggs, and so in n short
time the $40 have done the work OF many
times that amount Of money in the commu-
nifty. This was not the case to anything
like the same extent with the money paid
the bondholders. Furthermore, every dollar
Of this was scattered through the country,
ont Of the reach Of the selfish and grasping
mRnipulators in Wall street.
Now, reviewing the narrowness Of the
country's escape from panic, we ask, What
would its chances Of such an escape have
been IL the Disability Bill had not been
passed, and this large amount of money
thrown directly into general circulation /?
Does anybody doubt that if the Disability
Bill had been less liberal in its provisions
IL the disbursements under it had been, say,
but one-half what they were-that the coun-
try would now, in all probability, be suffer
ing the throes Of a severe financial depres-
sion2
We have constantly said that it paid-in
dollars and cents-to do the right thing.
Honesty and justice are always the best
policy. The Nation has already reaped a
full reward Of its act Of justice to the voter
ans. The panic which was ayerted by IFS
payment of pensions under the Disability
Bill would have cost it thousandfold what
il has already disbursed under that bill.
TIE NATIONAL TRIBUNE Is he only
champion nte soldiers hare among he great pa
| pcrs Of The country. The best lrdy 10 help all
UCterdHs Is Jy getting IL more subscribers.
PROF. KoCHs GREAT DISCOVERY.