The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1891-09-24

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further progress Of this article; but l
must be candid and say that I have
little hope of their realization during
this gener--oion.
The people of the State, including
the farmers, are not prosperous. 10
keep within the scope and purpose OF
this article I speak more specifically
and say the farmers of this State are not
prosperous. Why?
The answer is, because they have not
enough money. That is vague, but
true. money answeTeth all things
Why is there not money enough?
The United States Treasurer says there
is more in circulation per capita now
than ever before in the history of the
Government-S23. Others say there
is only s.. I do not know how much
there is and have to take somebody's
word for it. And as I know nothing,
and have heard nothing, against the
honesty and truthfulness of the Treas
urer, I am compelled to believe his
statement. Isay this without impugn-
ing the credibility of those who say
otherwise, because the Treasurer neust
know, while they may be mistaken.
No matter what the circulation per
capita may be the country over, the
circulation in this section of the coun-
try is very limited. 1t is from this Sec
ton that comes the most urgent de-
mand for more money-not from the
Northern or Eastern States; they seem
to realize no great scarcity.
"':I:' is money scarcer in this section
# t. country? Here are some reasons:
l. The annual pensions to Federal
surri:ars of the late war amount to
Si3v,vG8,OOO. All this, practically
speaking, goes into Northern States,
while every Southern State has to pay
its proportion. The average of each
State is nearly three millions. South
Carolina pays at least two millions
more than she gets back.
?. Then comes the import tariff, of
which 230,00O,0O0 q year goes to the
Government, and about $6OO, ,O0O, 900 to
protected industries, and of which
South Carolina pays its share, esti-
mated at eight millions, and gets back
only small portion, the greater por-
ton going to manufacturing States in
the North. South Carolina pays out
for tariff duties seven millions more
than she gets back. This IS moderate
and safe estimate. The usual estimate
is from eight to ten millions; but I pre-
fer to put the figures too low rather
than risk putting them too high.
8. Again, our railroads are all owned
by Northern capitalists. Whatever
the roads earn over actual running ex-
penses goes North to pay the interest
on their bonds. The gross earning of
the railroads in South Carolina for the
month of July last was $4,000. July
is one of the poorest months. But sup
pose that to be the average for the
year, there would be gross annual
earnings of Sc, $4,000. Six " per cent
of this amount goes to running eX-
penses and remains in South Carolina;
the other forty per cent or two and
three-quarter millions goes North to
pay interest Oh the bonds.
The first item is burden imposed
upon us as the conquered section by
the National Government. 1t is the
penalty of defeat, and we will have to
endure it with whatever patience and
fortitude We have. It cannot be
avoided.
The second item is burden conse-
quent upon our being an agricultural
people. There is good ground for hope
of relief from much Of that burden by
reform of the tariff, which is the heavi-
est burden of all. This reform can only
come through the triumph of the Ma
tional Democratic party, for that is the
only party in the country pledged to
that reform and working for its ac-
complishment, and if the party re-
mains united this hope will soon be re-
allied.
Our railroads after the war were
worn out and run down and we did not
have money enough to reorganize
them; hence they fell into the hands of
Northern capitalists, and those since
built have been built by Northern capi-
tal-many of them with our aid, that
aid consisting in gifts of county and
township bonds, the interest on which,
as we'll as the net earnings of the roads,
going to the Northern bondholders.
see no hope of relief from this railroad
burden. All We can expect is that these
giant monopolies shall not oppress US
by exorbitant charges for freight Or
travel, and that is provided against in
our National and State railroad COM
missions.
Those are fearful drains upon our re-
sources and take immense sums of mo-
ney out Of circulation in this section of
the country. But they are not all.
i. We send somewhere about two
millions every year iato Tennessee and
Kentucky and other States for mules.
Newberry County alone-one of the
smallest counties in the State-sends
about $50, 900; the State about 81 .50O,-
| 900.
Immense quantities of corn are
shipped to South Carolina from the
Northwest. I can only approximate
the amount. One merchant at New
berry has received and sold since the
first of January seventeen (l7) carloads
$, 500 bushels. Not less than 10000