The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1891-06-04

Sents the lOllOWlnS estimate:
Amount outstanding as per
treasurer's 1901 40 AZ
AMOUNTS TO BE DEDUCTED.
Loss in gold coin S2000000O0 90
Loss in silver cOin................. DOOO,WO 90
Loss in paper currency ............... 5OOU,WO 10
Loss in fractional currency. 6,9l6,6D 10
Held as reserves total 63OOS,7U 90
Held in u. = treasury 81 l44,0S9 20
Coin sent abroad ..................... 6l,60)U 90
Bullion counted as currency. 16,iS9)SS 90
sl,s55,2O457s 80
The balance in circulation among the peO-
pie is S3lO, $3.50, S42.ll, which divided among
B5,0OO,OO0 people gives Si.7S per capita.
| have been careful to overwhelm the
statement of the Senator as to the money
in actual circulation, because it is
on this position he has planted the bat
teries with which he has assailed the
demand for an increase of the amount
of money in circulation.
Before leaving this part of his argu-
ment, am compelled to quote Senator
George against himself. 1t may seem
strange, but nevertheless true, that he is
playing upon harp of
TWO DIsCoRDANT STRINGS,
or blowing hot and cold with the same
breath. After declaring that it is not
the lack of sufficient supply of money
which has produced the financial dis
tress-that it is "a terrible hallucination"
the people are laboring under-he
says he has no doubt if they would pc
tition for it, Congress would consent
that they might have an issue of $40 of
greenbacks per capita, and that in some
years the circulation would amount to
$50 per head. If their distress is not
caused by lack of mOney-if they are
laboring under terrible hallucination"
or in other words, craZy-why make
this suggestion? And if $40 of paper is
added to the currency, what is it to be
based upon? And how does he propose
to get it into the channels of business
and trade?
Assuming that his statement of $24
per head is correct, and SO more in
paper is to be added to it--still gap of
SIG per capita would have to be filled,
amounting to about $l000O,0O0 per
month.
But the per capita circulation does
not exceed, as l have shown, $40. Add
to this his proposed $40 of greenbacks,
and there is
YAwNING GAP
of $50 per capita, and the question
arises with greater significance, on what
is this 10000, 900 per month to be based,
and how does he propose toputit within
reach of the producing and commercial
classes? And why during all this long
and trying period, amid the wants of a
suffering people, the wreck of fortunes,
and the saturnalia of the cormorants,
feeding fat on the products of their toll
why has he not sooner proposed bis
$40 greenback panacea? Did the thun-
Tws of the Farmers Alliance arouse him
q realization of their sufferings? True
says that in 1884, he declared in a
Isspeech that he was in favor of issuing a
iollar for every dollar of National Bank
Icurrency which would be. withdrawn
from circulation; but it has been seven
long fateful years since that homeopathic:
dose was prescribed, and the patient of
whom he speaks has been constantly
| growing worse.
In view of the neglect of the trusted
agents of the people to remedy the evils
which had brought the country to prl-
| walton and poverty, and were bringing
| the industrial classes to lower and still
lower depths of misfortune, was it
strange that the suffering people were
| driven to the necessity OF proposing
| PLAN OF RELIEF!
| Why should not the producing and
other industrial classes have sent their
remonstrance to Congress, submitting
with it plan for alternating their suffer
ing? The tillers of the soil pay so per
cent. of the taxes. From their labor the
government derives its support. They
| furnish the nutriment on which every
other department Of business thrives.
Why should they not suggest remedy
| for evils which lawmakers had failed to
remove? Two generations ago the ag.
ricultural classes owned 20 per cent. OF
the capital OF the country. Under the
Ubiquitous financial system of the gov
eminent, they own barely % per cent,
and the ratio of decrease as compared
with the increase of the capital in other
departments of business is progressing at
an alarming rate.
In this extremity the Farmers Alli-
ance, composed of millions of tax-paying
voters-many of them
SOUTHERN DEMOCRATS
to the manner born submitted their