Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1894-04-04
SAM JONES ON FINANCES.
THE TROUBLE DUE TO IG-
NORANCE, EGOTISM,
AND INFAMY.
SATAN LIVES IN WASHINGTON.
Calls Congress a Collection of
Box-Ankled, Bandy-Leg-
ged JackaSSeS.


Atlanta Journal.
gainesville, Ga.,-I intended
for this letter to begin series OF
character sketches, but have con-
cluded to devote it instead to the
financial problem.
I arrived at this conclusion af-
ter reading some letters which
have come to me and hearing some
things on the question.
One Of my correspondents says
this:
The financial question involves
all business questions, including
mercantile farming, mining,
manufacturing, and the employ
ment of all labor elsewhere in
every department >of life" He
says: "Money is property on the
one side, and everything of value
on the other side is property. The
one is circulating medium, a
yard-stick, and fixes all values"
The proportion of property is as
follows: One billion seven hund-
red millions il money; all other
property, seventy billions of dol
lars in value.-Therefore, if the
one billion seven hundred millions
of money is used as the yard-Stick
to measure all other property, then
we can see very readily how the
few are holding the advantage
ground over the many.
When one billion of the money
property of the country is in the
banks of the three cities Of New
York, Boston and Philadelphia,
lying idle to-day, and the seventy
billions of other property almost
idle, having shrunk in value nearly
sone half within the last twelve
months, then business paralysis
and commercial depression are
inevitable.
Does government favoritism, by
its protectien of national banks,
in the taxing Of state banks, have
anything to do with this abnormal
state Of things? Has money gone
up as all other commodities have
gone down? Some one answers ::
"Money is cheap. You may bor-
row it at three per cent" But it is
not a question of interest. It's
purchasing power determines its
value. When values of other pro-
perties, not money, arc increasing
we may pay large interests and yet
make good profits.
Our money property is too small
by one-half. We have too little
money, for 80 much other value,
or property.
Men whose holdings are nearly
exclusively in money and securities
are interested in the contraction
of the currency, or a single gold
standard. Every advance in money
enhances their wealth, at the cost
of every other man whose holdings
are in other properties, not money.
They are the men interested in
the contraction of the currency.
While, on the other hand, the
expansion of the currency will
work to the interest of commercial
values, such as manufactures, rail
roads, farms, mines, act. The men
in these industries are the men
who have built our cities and rail
roads, our factories and furnaces,
who cultivate our farms and pro-
duce our food and clothing. 1t is
this class of men who are in debt
and can find but poor markets for
their products and but little en-
ployment for their willing hands.
, The contraction of the currency
will make these classes less able to
pay their debts and push their en-
terprises.
Increase the purchasing power
of the dollar and you increase the
burdens of the debtor class in the
same ratio.
Can this inspire confidence? II
will inevitably produce discourage.
ment and dispair, uphinge the
mind, cause suicide, and bring on
complete paralysis in business.
Money is now the best property
in The world. And the parties who
have money know it, and they will