The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1893-09-27

| af0rtiora, will 1T take greater brains TO
run large Government successfully.
But make us money say the silver
ties and populists, and let the matter
settle itself. If the leaders of the
populists think they are the first dis
coverers of 'wild-cat" banking
schemes, they are very much mis-
taken. The land-loan and sub-tIeas-
ury idea is not new one. The Eng
lish Land Bank, Of 1896, tried just
such scheme, and it proved great
failure. Then little Rhode Island
tried a cheap money scheme, and won
for herself the sobriquet of 'Rogues
Island" Who has not read Of John
Lows gigantic swindle in France in
1718, and Of the moral and financial
ruin that follwed? And the same
scheme obtained a foot-hold in the
Argentine Republic, and nothwith-
standing the financial ruin and wreck,
and the frequent revolutions of Gov
ernments in that part of the world,
Senator Stewart seriously proposes to
take the United States into copartner-
ship with those shifting Govern
ments. South and Central America
and Mexico. Between 1887 aud lS43
Michigan experimental with wildcat
banks" and only financial disaster
was the result. Oh, but we South
Carolinians are 80 smart Lord how
smart Well, we have succeeded more
than once in proving to the world that
we are about as big set of fools politi-
cally as could well be packed in one
small territory-we seem to want the
balance of the country to turn fool 80
that it may be in the fashion. Moth
ing is so sensitive as capital. Every
time Congress tinkers with it it Gre
ates distrust, and the panic was the
logical outcome of the political fool
ishness on the part of the people
clamoring for cheap money. We can
not catch birds with chaf. We can
not lift ourselves over the fence by
tugging at our boot straps. We can't
save ourselves from drowning by pull
ing at the hair on our head. If we
will not learn from our past expert
ence and observation, then there is no
hope for us.
Just SO long as we are buyers, the
sellers are going to demand in ex-
change good money. Just so long as
we are borrowers, the lender is going
to see the security is gilt-edged before
he will part with his money. If the
farmer did not have to pay for sup
plies to run his farm, he would have
money to lend. Will We undertake to
build Chinese wall around our coun-
try that we may foster cheap money.
If we had a money so cheap as to
make bale of cotton worth $1O0, how
would the farmer be the gamer ?
Would not his supplies cost him in
proportion ? When the South was
blockaded we thought we were inde-
pendent-would run our own finances
to suit ourselves. [ have before me
receipt, of which the following is
copy:
1863.
Mr.. Daniel Brown,
To J. Scott Murray.
To 200 pounds sugar at 70
cents per pound ........ .$l4O W
Received payment.
J. SCOTT MURRAY.
Then how can we reason to our
selves that cheap money would make
us better off. The man who owns
800 worth of assets, on which he can
realize only $50, is not worth CEN
time more than $50. But I will for
bear. I would refer your readers to
an article written, not by politician,
but by a scholar-the author Of the
ablest Political and Constitutional
History, perhaps, that has yet
been written of this country-Prof.
VonHolst, of the Chicago Uni
versity, German scholar of recog-
nized ability and authority. The
reader will find no claptrap stuff
about it, but plain, practical common
sense, to which but few men can lay
claim. His article may be found in
the September Reuieao of Revie,os.
The reader might do we'll also to read
the article of Prof. j. Lawrence
Laughlin, University of Chicago.
These men are not in the arena OF pol
itics. Prof. Laughlin says: "a good
currency should be permanently es-
tablished on general principles, a
panic should be treated as an acute
disease-a state of things not perma-
ncnt. The condition of our currency
is anomalous. It is a disgrace to a
civilized country. Like Topsy, it
has just growed without reason or
rhyme. 1t has been created or modi-
fed, not according to monetary science,
but according to the demands Of poll
itics."
And now all our wiScacrcs masters
of economical science-learned in a
night from no one but Unborn preju-
dice, demands another modification to
suit the political whims of the hour
until the next uphcavcl Of ofice-scek-
crs and public plundcrers. The
mighty pucssant Governor Of the great
silver State, Colorado, wants his peo-
pie to wade through blood up to the
horses brides, while the more cold
n