The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1891-09-24
Why Money is Scarce.

ted States Treasurer, there is more money
per capita in circulation now than at any
time since 1860.
There is no doubt that money is very
scarce in this section OF tho country. But
there is plenty of money in New York
and other Northern States-that is plenty
for the purposes of trade and commerce
there never will be enough anywhere
for everybody to have all ho wants.
WHY is money scarce in this section OF
the country? Here arc some reasons
everybody can understand:
The annual pensions to Federal survl-
vors amount to S130,0O0,0Oo. All this,
practically speaking, goes into Northern
States, willie every Southern State has to
paw it's proportion Of 1t. The average OF
each State is nearly three millions. South
Carolina pays not less than two MIL
lions.
Then comes the import tariff, of which
$3.50, 100000 year goes to the hegovernment
and about 5000, 100000 to protected indus
tries, and of which South Carolina pays
its share-estimated at eight Millions
and gets back only small portlon-the
great portion going to Manufacturing
States in the North. Say South Carolina
pays out for tariff duties seven millions
moro than she gets back.
Again: Our railroads are all owned py
Northern capitalists, and whatever the
roads earn over actual running expenses
GOES North to pay the interest on their
Bonds. The gross earnings of the rail-
roads In South Carolina for the month Of
july last was s57O,OOO. July is one of the
poorest months. But suppose that to be
the average for the year; there would be
gross annual earnings Of S6S4, ,OOO,0 ,0O0.
Sixty per cent. of this amount goes to
running expenses and remains in South
Carolina; the other forty per cent, or
two and three quarter millions, goes
North to pay interest on the railroad
bonds:
Now add these three items:
For pensions s...............".."..."$ z'ooO'oOO
For Tarif".;.::....;...''....'""' geo ge0'UU 0UO
For Railroad Bonds.."... Z,ioO,oOo
Total sl1,75o,ooo
This is not all:
We send possibly two millions into
Tennessee and Kentucky for mules.
Newberry County alone sends annually
about $780, 900.
And then the corn and meal and bacon.
How they do cost! And what immense
quantities are shipped to this section from
tennessee and the Northwest. We can
not approximate the amount; but 1t is
enormous. One merchant at New6erry
has received since January 1st, II carloads
of corn-8,50O bushels. About 3O,OO0
bushels have been sold at Newberry and
about 10000 at other points in the County
at an average Of about 80 cents-.say
S36, 900 for corn. It is great drain OF
money to pay for all this corn and bacon
and flour and hay and other products.
And what have we got to raise money,
to pay pensions and tariff and railroad
bonds with and to buy corn and bacon
and other things?
Cotton-nothing but cotton.
No wonder we are poor.
What Is the remedy?
Some say The sub-treasury. we 90 not
think so.
The remedy, it seems to us, Is 10 raise
our own corn and bacon and mules, and
thus keep q large amount Of money down
South to circulate amongst our own peo-
pie. .,.
ly no remedy. No party-Republicann,
Democratic, Alliance or what not-is
making any effort in that direction.
The Democratic party is fighting for
tariff reform, and if successful will great
ly relieve the burdens of the South.
The railroad bonds have gone North to
stay.
All these three disadvantages are the
result of tho war, which made the North
rich and the South poor. There is no
hope for remedy for any of them except
in the possible reduction of the tariff. SO
that. dc what we may-sub-treasury or
uotLthe South will continue to be drain
ed to pay pensions and tariff and raj ilroad
bonds. The North has great advantage
over us in these particulars. and we can
not help it. But We can prevent the I'M
mense drain made upon our resources Tor
the purchase of Western mules and corn
and meat, by raising these things at home.
In this way lies safety.-Newbcry OOserv-