The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1894-01-13
To Get Money, Have Something To
Sell.

Sell.
The adjustment of circulating
medium to meet the requirements OF
great trading and commercial peo-
pie like our own is one of the most
intricate and delicate of problems,
the solution of which demands spe-
cial study and practical experience.
That there is need of education on
this subject among the masses of the
people ia generally conceded, and a
perusal of the multifarious bills pre-
pared by statesmen of the PETER cal
ibre shows that the schoolmaster is
sadly needed also in the halls of Con-
gress.
With vast sums of money lying
idle in the banks for which no profit
able employment can be found, it is
amazing that men whose friends still
permit them to manage their own af
fairs should formulate propositions
to Immediately create more currency.
They cling to the notion that if only
vast additional amount of dollars
of any kind could be manufactured
some of these would somehow or
other find their way into the pockets
of the constituencies that are crying
for more money and cheaper
money"
1t is useless to call the attention
of these people to the fact that they
could not obtain any of the proposed
dollars unless they had something of
value to give in exchange for them,
and thatif they had this something
of value they could obtain part of
the supernuous supply of existing
dollars.
The existence OF seventy six mil
lion surplus dollars in the banks of
this city to-day does not cause an
overflow into the pockets of impecun-
ioos Western farmers or Southern
planters. Not at all Instead of
rehux to the interior, the money is
going to Europe into the hands of
the people to whom it belongs or to
borrowers abroad who can furnish
ample security for it's return.
Many of the currency tinkering
bills that have been prepared are too
absurd to call for serious comment
and are introduced merely to please
the several constituencies of the men
who present them. The truth is,
there is no need of hasty action on
currency and banking questions, and
the proper way to deal with them is
to appoint national commission of
non bipartisan experts to consider the
wholesubject and report an adequate
and practical BILE measure This course
was suggested by the American
Bankers Association at its recent
Convention in Chicago is recommend
ed by the Board of Trade and Trans
portation of this city, in resolutions
adopted at its meeting yesterday.
1t is obvious that, in the depress-
ed condition of manufactures and
trade consequent on the panic, less
money is needed to "carry" goods
and securities and to effect the ex-
change of commodities. Values are
low and trade is slow as compared
with year ago, and moreover, there
is now in circulation one hundred
and twelve million dollars more mon
ey than there was at that time
Hence the heaps of idle coin in the
banks and the anomaly of lower
rates of interest here than are cur
rent in the great banking centres of
the Old World. We have all the
circulating medium we shall need
for long time to come, and there is
ample time to admit of a patient and
thorough study of the situation by
competent experts and the careful
revision of our present disjointed
system.
Congress could make no greater
blunder than TO plunge into a sea of
debate on the numerous and compli-
Gated problems presented by this
subject. The appointment of com
petent commission would relieve
Congress from its consideration for
the present and admit of concen-
tration of effort upon the tariff and
revenue legislation which is of such
immediate and vital Importance to
the whole people. The repeal of the
pernicious compulsory purchase
clause of the Sherman law places the
currency upon sound basis and in
sures tie payment of all obligations
of the United States in gold or its
equivalent.
The currency question can wait,
but the comfort and the very lives
of vast army of worklngmen de
pend upon the speedy passage of the
Tariff bill. Delay over that would
be fatuous and criminal. Let US,
then, have a commission to deal with
the monetary and banking problem
and press forward to settlement of
, the tariff question without an hours
delav.-N. Y. Herald.
| Mr.. F. Sloan, 1877 Portland St.,
} Boston, Mass. gives it superlative
praise He writes; II have used
Salvation Oil for neuralgia, and find
it superior to any liniment l have
lover nead -