Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-09-12

mad inquired out what we are trying TO
do here and what Mr.. Horr is making
fruitless efforts to try to do.
II now want the reader to connect
what l Am about to say with what I
was saying when MI. Horr insisted on
q diversion. 1t is no answer for q
banker to say that men are not COM
PEELED to borrow money and pay inter-
est unless they want to. Business re-
Quires SO much money, and the volume
being insufficient, the business men
are compelled to assist in this stretch
ing process. We are now getting at
place from which all this financial
wind and thunder comes-this influ-
ence which has brought US panics and
crushed III hopes as it loosened and
contracted its use Of this credit sys-
tenn. The same influence that took
our government by the throat while
her brave sons were exposing thier
lives upon the bloody field of battle.
want, famine, prostitution, loss of
character and insanity nov mark the
low level of our national existence.
Politicians deceive the people; ma
tional party platforms are q record of
national duplicity and dishonor, and
every effect and influence can be
traced to this same power as it saps
the veins of commerce and diverts
from its channels the blood Of civiliz-
alton. The influence of these bankers
on business men who want money
and on u politicians extend through
out the Union. We need banks Of de-
post and the convenience of checks
and bills of exchange for transferring
money, but we don't want banks to
loan bank wind, at an annual tax to
us of S2OO,OOO,OOO, rs q substitute for
money that, as q sovereign people, we
can bring into existence in sufficient
quantity to transact u business.
1.-The banks should go out of the
government business instead of the
government going out of the banking
business. (Applause.) Let the banks
be banks Of deposit and discount and
not makers of money. They are max
ing it now with bank credit, and you
are paying them interest for it. The
bankers, except those who are unself-
ish, will be found on the side of the
gold standard or any system that
limits the quantity OF money, and lots
of them supply bank credit at Z per
cent. There is another way-and q
common-sense way-of estimating the
the quantity Of money needed in the
United States. This question Of the
quantity Of money needed in the coun-
try is an important one. It will not
do to meet it by saying that confidence
is needed. This argument that conf
dence, and not money, is all that is
wanted il made by q greenback would
be ridiculed by those same men. Con-
fdence won't buy anything. It will
get q man in debt to a banker, that is
all. It reminds me of fable.
IAN industrious duck who had laid q
great many eggs returned to her nest
one day to find that they had all been
stolen. Disconsolate she set out in
quest Of them, when sac met a fox,
whose mouth bore evidence of a burg
larry. Dear sister duck said he, u
sympathize with you most deeply, but
regret to notice your lack Of faith.
Return Immediately to your nest and
sit thereon with as much confidence
as formerly, and the result will be, I
assure you, as satisfactor asg you de-
sire.' (Applause and lauahter.)
"The men living in the large cities,
who r moulding public opinion on
this subject try to teach the people
what little money they need and how
confidence takes the place OF money,
and yet when these same people come
to the cities-the Worlds Fair for in
~stance-they find they need money;
that confidence is not currency. It
takes money. The more money these
'moneyed mem have and the finer the
outfits they drive, the less money they
think other people need. / do not
say this to excite predjudis, but to
show how people reason for them
selves.
"Let Us see how much money we
need. Our population is now 100000
20. OF this 100000, 100000 are
married and 100000 are single adults.
This is In round numbers.
.Allowing $40 for each housewife,
$40 to each husband and $40 to each
single adult " 20 years of age to
carry In their possession We find $780,
100000 necessary. This allows moth
ing for those under 20 years of age.
Let us count go to each business con-
Germ to keep at their place of business
for the purpose OF making change, and
in this calculation / would include all
railway stations where change is re-
quired. Now, do not stop and say you
do not need that much, for you do, if
we are to have prosperous business,
and that is what we will have If we
have u way.
By the statistical abstract Of 1894
there was that year (page 367) 1,114,174
business concerns in the United States.
The depots and other places needing
ready money would bring the number
up to1,2O0,M. This would require $780,
100000 at hand by these Ice to
facilitate business. Thus far we have
$460,OO0,OOO required to be in circula-
ton among the people that would not
be counted as a part OF the money de-
posted in banks. This much would
be in the pockets of the people, at
their houses, and at their places Of
business. No one will probably say
that this estimate is too high. The
average man should have $40 with him;
il he hasn't it, he ought to have it. II
he is not, it may be because he hasn't
it.
The average housewife should GER
tainly have at all times an average OF
80 by her. She should at times have
much more. They will all agree with
me that they should have at leart $40.
We are all Q travelling people, q migra-
tory people, and an average Of $40 in
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