Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-28
A Country Merchant on Finance.
RANDALL, w. VA, August %.
-. Is,y;,ov og thu RsJists-.

RANDALL, W. VA, August 25.
To tAs EDITOR Of the Register:
S1R:-Although 1 am only a coun-
try merchant, yet l have made the
study of the finances a speciality.
Therefore l have proposition which,
II Congress would adopt, l think would
bring prosperity to our distracted coun-
try. II is this5 Repeal the Sherman
law. and then authorize the mints to
strike from two to four million silver
dollars per month from the silver bull
ion now in the government vaults until
the same is all coined, and TO issue Sill
yer certificates to an equal amount for
circulation. Nine-tenths Of our people
are satisfied with silver certificates ana
are glad To get them. Let the gold
bugs have the gold. The masses don't
care a continental for gold. There Is
not enough money in circulation, al
though many Of our statesmen and
leading papers say there is. Two hum
dred million dollars have been with
drawn from circulation and II has
paralyzed the country. This is suth-
cient evidence that We have not enough
money. The great panic that existed
from 1878 10 1879 was caused by the Re
publicans destroying the peoples
money. 1t took years to find this out,
but when 1t was discovered and the
Greenbackers, Democrats and few pa
triotic Republicans joined together In
Congress and passed law TO prohibit
the further destruction OF the green
hack. to mint two and one-half million
silver dollars per month, and to strike
silver certificates, then the country be-
gan to prosper at once and in less than
two wears we had the most prosperous
times our country ever knew. Now, L
repeat, 1t is the scarcity OF money that
is causing the present panic. see
published that we have nearly two bill
lion two hundred million dollars in the
country. This is only party true. AS
we have five hundred and fifty million
dollars in gold and silver in the govern
ment vaults as a basis for that amount
of paper money in circulation, and as
this gold and silver is not and cannot be
nut in circulation as long as the certit-
Gates are out, it should not count The
Secretary OF the Treasury reports seven
hundred and thirty-six million dollars
i'm the treasury, and as ex-U. S. Senator
Willy says it is there by law and must
remain, it cannot be counted as in cir
culation. Besides this the banks must
hold a certain amount as reserve. Sup
pose this amounts to two hundred mil
lion dollars; add this to the amount in
the Treasury and we have nine hundred
and thirty-six millions Of money out OF
circulation; take this from the whole
amount and it leaves Only 81, 266, 900, 900
in circulation. Notwithstanding we
have not a sufficient amount In circula-
tion now, and as the country increases
in population in manufactures and in
dustries, we must increase our money
i'm proportion. How are we going to do
this unless we continue to mint silver?
And If we don't mint the silver bullion
we already possess, then what are we
going to do with it? The people de-
mand more money, and il Congress
would adopt my proposition l believe
times would improve in less than ten
days thereafter. Yours
COUNTRY MERCHANT.