The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1893-09-20
Anaersnt YnteIIiaentsr.
Thoughts on Finance.


cent, of the business of the country is
done by credit insome firm, including
notes. bills of exchange and checks,
leaving five per cent Of the business
to be done with gold, silver and paper
money.
Much of the manufacturing Of the
country depends on the future for a
market, and, TO a certain extent, is q
venture Of the manufacturer. When
he does not soc a market prob
able in the future, he feels like
shutting down and awaiting develop
ments.
Confidence in the future is an cs-
sential requisite. Where q lack of
confidence exists we should try and
find the cause, and remove it. The
present lack Of confidence began in
Europe which held large quantities Of
American securities. They feared
that the United States would not have
the ability to carry the
WORLDS BURDEN OF SILVER,
which it was doing by buying and
piling up four million and a half
ounces per month, without limit of
time, and they argued that their Sc
curities might be paid in silver, when
they paid gold for them, and gold was
their standard Of value; so they
sent their securities back here
and took our gold in payment for
them.
After while, the outflow Of gold
alarmed the timid capitalists, who be-
gan to hoard gold and currency pay
able in gold, and this practice gradu-
ally extended to all classes, making a
scarcity Of the necessary funds for the
smaller business transactions which
were not done with checks, notes and
other forms Of credit,
In seeking remedy, the. most ex-
perienced people say the chief cause
was the compulsory purchasing clause
in the Sherman Silver Bill, and agi-
tation was begun for it's repeal. This
seems wise, because the Sherman Bill
has not benefited even the silver pro-
ducers, or anyone else. The prices
Of silver under its operations have
steadily declined, the reason that the
supply Of silver was largely increased
by improving mining devices.
Both gold and silver are commodi-
ties and depend upon the amount of
supply for their value. There was a
time when more gold was produced
than silver, and silver was at pre-
MUM upon it's present ratio of
sixteen ounces of silver to one of
gold. The most reasonable people wish
to see
BOTH GOLD AND SILVER
used as money and undoubtedly both
will continued to be 30 used, but upon
the standard recognized by the prin-
cipal nations of the world, which is
gold.
We cannot we'll have two yard
sticks, q short one and long one,
else everybody would be confused as to
what yard was.
Silver will remain valuable, and be
used as money, but its value will de-
pend upon the quantity produced. We
cannot alter the immutable laws of
nature Or trade; we cannot long make
water run up hill, or prices
go up when the supply exceeds the de-
mand..
The silver men claim that there is
not enough gold to do the business Of
the world, which is true, nor enough
silver, and ninety-fve per cent of the
worlds business is done BY credit.
The silver men claim to be bimetalists
and denounte the monometalists as
"gold bugs" but in its effect upon
trade, silver men are really the mono
metalists, because if so much silver
should be coined, that it could not
be kept on par with gold, and al
once the more valuable metal would
be boarded, would not be paid out il
business, and the currency would bt
contracted to the extent Of the entire
amount Of gold in this country-somt
six hundred millions of dollars.
Therefore, people, who want to have
money plenty should oppose any
measures which would tend to put oul
currency on a silver basis.
The laboring man is especially in
terested in getting good money for his
labor. He wants a dollar that vii
buy a dollars worth of food, raimen'
and shelter. -
In fluctuations OF the currency la
Dor is the last thing to go UP and tht
first thing to come down. Hence
laboring men .should be in ia
vor of the best money, and of stable
currency that will be good year in and
year out, in the eyes of the world
F. Fl. Mur6er, IN Hardware.