Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-08-13
Mr.. oarnegie's A B O of Money

Mr.. Carnegie, in his A b g OIL
money, which is TO be so generously
circulated for the benefit of ignorant
people who don't know anything
about money, fails to see that all PEG.
pie are not blessed by the protective
tariff system as himself: he fails to
observe that as the country has pro-
crossed from gold and silver. cur
rency to the credit system which he
advocates based on gold, that the
farmer with nothing but his produce
to base credit on, has been driven to
the wall for lack of credit, and many
are obliged to draw on their crops
before planting, and while the specu-
lator is using 92 per cent. of credit
and 8 per cent. of money, the pro
ducer is compelled to use 92 per cent.
Of money and per cent. of credit
and this is why the country is clam
oring for more money.
Mr.. Carnegie argues the compare
tive market value of silver and gold
very ingenlOusly. He says our silver
dollar of 371i grains contains only rs
cents worth of silver, yet the gov
eminent has managed by the hardest
to keep it on parity with gold. He
admits that pending the silver legis,
lation silver advanced to 1913 cents
per ounce, but after the present law
was enacted it dropped back to 81
cents. That of course was to be eX-
pected. Mr.. Carnegie should remem-
Der that silver advanced on the pros
pect Of free coinage becoming law
and that his friends, the gold bugs,
fixed the present law, which he de-
nounces so cleverly, to their own
liking, and really the law has per-
formed better service than they an
ticipated. He takes fright at the
prospect of floods of silver, old coins
and bullion pouring in here from all
parts OF the world to get the benefits
of the government stamp making Is
cents worth one dollar, to be used in
buying our wheat and other products
for foreign countries, and then he
says we will have to pay in gold for
all we import. Unfortunately for
him, this argument destroys the one
he makes showing how Britain spec
ulators havegrown rich buying cheap
silver to exchange with India for her
wheat. (lndia takes 34S grains
of silver as equal to 1922 grains of
gold the standard) and sells the
wheat at home for gold. Here Mr..
Carnegie clearly explains why this
country has sold England less wheat
since silver was demonetized.
We agree with MIR. Carnegie that
this silver question is of more i'm
portaDce to the country than the
tariff issue. The protected barons all
see that gold Is worth nothing with,
out gold basis credit system to sus
tain it, They see Il hundred free
trade laws in free coinage, and Mr..
Carnegie says though he is a Repub-
lican and believer in protection, he
would give up the Mckinley bill
and take the Mills bill to have the
silver law repealed, that "in the
next presidential campaign, if !
have 10 vote for a man in favor OF
silver and protection, or for man in
favor Of the gold standard and free
trade, shall vote and work for the
latter"
Mr.. Carnegie knows what he is
talking about, and this is why the
gold standard Wall street managers
are laboring so hard TO push Mr..
Cleveland and tariff reform TO the
front and keep the money issue out
Of the campaign.