The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1890-05-29
Banks Currency, Merchandise, &c.

Mr. EDITOR: By clerical error last
week the seventeen years was run through
SIG, 1000, instead of $l1 900 premium, which
would reduce the first years loss to S557,
to be regained in later years.
The National Banking system has here
tof0re been in favor with the Democratic
party, but it is conceded that some other
system must take its place. The U. S.
bonds are maturing and being paid off,
and some substitute must bo adopted.
Mr.. McDermott, OF Pennsylvania, sug.
gests that the States ISSUE bonds bearing
three per cent. interest, The banks buy
them, hand them over to the National
Government, and receive bills to the face
value of the bonds. This substitute would
give us uniform currency, and help the
credit of the States. It would enable us
to refund our State dcbt at three instead
Of four per cent, and is perhaps better
than the plan suggested in my former
article on State Banking.
Hon. W. l.. Trenholm, Democratic
Comptroller of The Currency, in his re-
port December l, 1883, places the total
amount of money in the United States at
S1,700, 100000, or about $27 per capita at
that time. It makes no difference if the
bulk is on deposit or in pocket If avail
able it answers all purposes. The money
deposited in banks daily by the merchant
or farmer circulates the same as if IN the
desk or in pocket. In panics it circulates
better when in good banks-such as the
Chemical. To increase the currency so as
not to put premium on gold, and the
best results are obtained. This would
give us easier money and relieve the
present stringency.
We have tried a premium on gold, and
found that it would not work well. An
inflated currency during the war settled
that question. Artificial value should be
avoided.
Looking over the files of the INTELLI. :.
aENCER and private papers, it is found
that the price of cotton in Anderson
February %, 1866, was zoe. to 23c. in spe-
April 20, 1866, was 20 to % in specie.
Gold 122 or % per cont. premium.
juno %, 1866, cotton 25 to 81 in cur
rency.
October, 1866, 30 to 324 in currency.
November %, 1866 25 in currency.
December 5, 1866, % to 20 in currency.
December Il, 1866, 27 to 27a in currency.
January %, 1867, q to % in currency.
October, 1867, 16 to 10 In currency.
December II, 1867, III to liz in cur
rency.
December is, 1867, 1oA to 1o5 in cur
rency. s.z.
December "a, 1867, 1OA in currency.
Cotton bills Of sales sustain the INTEL
L1aENoER's quotations. The same au-
thority show that merchandise was very
high.
Bsgging sold at 45 to So. Rope, 80 to IS.
Coffee, 335 to45. Tea, 1925 to $3.50. Csugar,
| 20 to 25; crushed and loaf, 80 to 80. Salt,
per sack, $500 to 5000. Iron, IL to Ii.
Nails, 10 to -. Casting, IL to Is. Pow
der, IS to $1.00. Lead and shot, 20 to 25.
Blue Stone, IS. shirting, 25. Kerosene
Gil, s1.5O per gallon, and fine dry goods,
calicoes, &c, still higher. While q pre-.
MUM on gold gives an artificial value to
cotton, it does the like for goods, and it
amounts to the same as to resolve that
three dollars be four dollars, except that
our gold coin might go abroad while We
kept the cheaper at home. IF some prac-
tical plan would give us higher prices for
what we sell, and present prices for what
we buy it would give US greatest satisfac-
ton. But what would the other seller
have to say? The present tariff bill now
before Congress does not promise much
that Way b.