Mississippi leader. (Jackson, Miss.) 1892-1895, 1892-02-18
WATTERsON & BARixSDALE
Their Views Touching the Sub
Treasury.

Treasury.
When Hon. Henry Watterson visited
Jackson to deliver his lecture on
"Money and Morals" he was inter
viewed by the correspondent of the
Memphis Appeal-Avalanche and ex-
pressed himself as follows:
"Mr. Watterson, what do you think
of the Sub-Treasury ?"
II think that Mississippi might as
well undertake to build a railroad to
the moon.'
"Did you observe the senatorial cam
paign through which Mississippi has
just passed 2"
Il did. | was amazed at the attitude
of x-Congressman Barksdale. He is
gentleman for whom all my life
have entertained not only the greatest
respect, but the sincerest affection.
cannot divine how he could have given
himself over to a scheme 50 visionary
and impossible as the sub-Treasury
idea. OF all schemes that were ever
dreamed of, that Sub-Treasury scheme
is the most un-Democratic. 1t is so
unworthy of consideration that | won
der that any sane or sensible man
should entertain it for moment. / am
just as anxious as any Farmers Ali
ance man can be to secure a circulat-
ing medium adequate to the vast ex-
panding needs of the country, but
am not willing to get this by any pro-
cess that means an imitation of curren-
cy Cheap money is bad money. We
had it in abundance in the Confedera-
cy. ] want no more of that sort of
currency"
Major Barksdale was not in Jackson
when Mr. Watterson was here. but on
his return, being seen by reporter of
the Associated Press and asked if he
had anything to say touching Mr.. Wat
terson's remarks, replied:
"Mr. Watterson is the most brilliant
and captivating writer on the Ameri-
can Press. He is an orator and wit,
but like many other similarly gifted
men, is erratic, and addicted to going
off half-cocked. For example he ad-
mits what all men outside of Wall
street and the lunatic asylum admit,
that the money supplied by existing
laws lis not adequate to the expanding
needs of the country and yet he
gives no reason for opposing the only
practical plan which has been proposed
for providing an adequate supply.
s'The trouble with the brilliant journ-
alist about the ."Sub- Treasury idea" is.
that he has never read the bill which
expresses it and has believed as true,
the falnlen brutum of persons no bet
ter informed than himself, or of shy
locks who are bent upon perpetuating
the present deplorable financial con-
dition because they are profiting by it.
The merit of the "idea' (as Mr.. Wat
terson calls it, is that it will remedy
the evil of contraction which he ad-
mits, without producing the expansion
he breads.
"The statesman who draws his OPP
position to the plan from the failure of
Confederate money, is an unsafe guide.
He does not know the difference be
tween the money of a powerful nation,
and withal bottomed upon absolutely
safe security, and money based upon
the trembling foundations of a govern
ment tottering to its downfall. What
would be thought of a man who would
disparage the unimpeachable credit of
a wealthy and solvent firm because an
other concern has failed?
Like other flippant writer's, Mr..
Watterson says the Sub-Treasury idea
is ''undemocratic." If he had remem-
bered that the principal that the gov
ernment should issue money directly
to the people, instead of through the
medium of corporations, originated
with jefferson, the founder of the
Democratic party, and was supported
by such orthodox Democrats as jack
son and Calhoun, he would not have
ventured that opinion.
"The suggestion that it is impossible,
is founded on the supposed majority
against it. 1t is the weakest of all the
objections, for the reason that the bet
| ter it is understood the stronger it
! grows. Tariff reform has no more
hope of success with an opposition
| Senate and President than the Sub
| Treasury, but would Mr.. Watterson
repudiate it on that account
Men are judged by their acts rather
than their professions. Faith without
works is dead Mr.. WatterSon says
| that he is as anxious as any Farmers
| Alliance man to increase the circulat-
ing medium. Why then does he pro-
pose in his paper to send free silver
coinage to the rear, measure as re-
pugnant to Wall street as the Sub
| Treasury, ON the pretence that it would
also initiate the currency; and why ii
he don't like the Alliance idea does he
not propose something which he con
siders better -