The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-17
A Wrong Impression Corrected.

| Wrong Impression Corrected
During his speech at Gibson last Satur-
day Senator Gordon said: "But, my third
party friends, you had as well abandon at
once the idea that the government can
make us rich. If the government should
begin tomorrow distributing greenbacks
FREQ Of cost 10 the people, and in limitless
quantities, it would not b. long until your
money would be worth no more than your
little third party paper"
There is no doubt that great many third
party men believe that the government has
only to issue greenbacks in unlimited guam
titles to make everybody rich. That belief
is at the bottom Of their demand for an in
crease of the currency to $50 per capita.
If any one of them were asked why their
party fixes the limit at $50 per capita he
would not be able to give an answer that
would be satisfactory to himself or any one
else. He would say probably that if $50
was found not to be enough to satisfy the
demands of the people it would be an easy
matter to increase the amount.
These third party men do not take into
! account the fact that it would not take long
to reach point at which the purchasing
power of greenbacks would decrease in pro-
portion TO the increase of the volume of
them. There are plenty of men living here
in the south who remember when confeder-
ate money was as plentiful as leaves in
forest, but those who had their pockets full
of it were poor in comparison with those
who possessed q few pieces of gold or silver.
There is more money in circulation now
per capita than at any previous time in the
history OF the country. In the great COM
mercial centers the banks are full of money,
and those who own it would be glad to in
vest it so as to obtain small income from
1t. The savings banks are seriously con-
templating reduction in the already low
rate of interest which they pay.
Farmers 10 all parts of the country who
have anything to sell can get the cash for
it. II there was twice as much money in
circulation as there is they couldn't get any
of it unless they had something to exchange
for it. 1t is true II the volume Of the cur
rency were very much greater they might
get little more for some of their products,
but the purchasing power of money would
be considerably less. Hence. they would
be no better of than they are now. It is a
very easy matter to present the money
question in way to confuse and mislead
the people. And that is just what the third
party demsgogues are doing. The farmers
are being told that the government has
only to issue plentiful supply Of green
backs to enable them to get all the money
they want. Here in the south, owing to
the low price Of cotton which has prevailed
for two years, the farmers are in strait
ened circumstance They, therefore,
are all the more easily led
to believe that the more money doctrine
of the third party. If adopted, would bring
about an Improvement in their material
condition. And it seems to be impossible
to convince good many of them that they
are mistaken. The financial history of this
and other countries, however, is full Of
illustrations Of the truth Of the statement
Of Senator Gordon-that the government
cannot make the people rich.