The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-09-12

He is indeed a shallow man that would
Try TO make the intelligent people OF
america believe anything else. The
Tariff! The Man in the Moon! Why
the Democrats have passed their tar
III OIL and now both the old parties
are trying to drive the Populists be-
lore them with the cry that times are
rapidly improving! The tariff medi-
cine, the mere threat and smell of
which destroyed the nation in 1892, as
we are told, is restoring it to vigorous
health in 1894. Bah!
The census Of 1890 shows that the
country was then already ruined
Two years before Cleveland's election
there were nine million mortgages on
The real estate of the United States
for two and a half billions of dollars:
nine per cent Of the population owned
seventy-one per cent of the wealth of
the country, leaving but twenty-nine
per cent for the other ninety-one per
cent of the people to struggle for
Surely Cleveland's tariff did not pro-
duce these results! The Republicans
had held power for thirty years and, in
1890. the country was practically bank
rupt.
Mr.. Horr continues:
II quote again from the article in
Jhe REPRESENTATIVES,:
Mr.. HOrr said:
They tell us that it is Overproduc-
tlon, when the fact is that it is lack of
consumption, because there is moth
ing to buy with
what do you buy with? Money.
Who reduced the money of this coun-
try by demonetizing silver? The Re-
publican party
Again Mr.. Horr says:
1.-The Republican party plants it.
self upon the position that we should
make, as far as possible, everything we
need right here at home
well, why don't you make your
money at home? Why should we bor
row money in England, and pay inter
est omit. when our experience during
the war, with the first $6O,C00,0O0 OF
greeDbacks, shows that we can make
just as good money ourselves, and pay
no interest on it?"
The statement which | actually
made was this, that the working peo-
pie of the United States could not buy
articles as they had done in the past
because their wages had been recently
cut down or entirely stopped, and on
that account the workingmen had
nothing with which to buy. Nowhere
did | intimate that such state Of af-
fairs existed because there was no
money in the country with which to
buy. The statement which | did make
is absolutely true. The wages paid
each day for work all over the United
States for nancy years past have been
the greatest distribution Of wealth
known anywhere on the face of the
earth.
The statement which the writer
seems to believe, and seeks to make me
UTTER is not true. The money of this
country was not reducedin amount by
the law of 1873 The money in circula
tion per capita in 1873 was $1S.04. In
1874 it was $lS.13. 1t then fell little
per capita each year, chiefly in conse-
quence of the population increasing
1900, 900, up to 1873, when it was $l3.32,
when the amount began steadily to in
crease, and in 1893 it had reached the
sum Of $3.50 per capita. To-day it is
nearly $25 for each man, woman and
child in the United States.
In the face of this we'll known fact,
why keep asserting that there is such
a lack of currency in this country?
What we need is revival of business
SO as to make the money circulate
which has all this time existed in the
United States.
Here Mr.. Horr reiterates the old
falsehood. that sthere are nearly $25
of currency for each, man, woman and
child in the United States" Yes.
there are, if you make no deduction
for the money lost, burned up worn
out, sunk in rivers, lakes and seas
since it was first issued: and if you
take no account of the fact that the
law requires hundreds of millions of
dollars to be kept locked up, as re-
served funds, for the security of the
bank issues. But if you deduct all
these, then, as we have demonstrated
over and over again, in the REPRE-
SENTATIVE, the actual money in Cir
culation per capita is just $4.97.
France has according to one account
$40 and according to another $50 for
each man, woman and child.
In 1865 we had in circulation the fol-
lowing: