The Canton times. (Canton, Miss.) 1893-1906, 1895-05-03
Not Money!, but Confidence

cation from correspondent VINO
signs himself alabama" who wants
to revive the good times of 1850 to .
1860, and hopes to accomplish it by
tie free coinage of silver.
He would do we'll to cease dreaming
of the past and address himself to the
present and future. In the period
between 1850 and 1860 every South
ern farmer had negroes. which were
basis oe easy and ready credit,
With labor whic each farmer could
control and depend upon, there was
no doubt about his ability to make
crop, and with this certainty he could
secure all needful credit and was com +
monty able to lend or borrow from
his neighhor. All the money he ham
died was State bank notes, which
were commonly good enough for all
purposes of home trade.
But those times have long passed
away. The negroes are no longer
property, but citizens. The farmer
can no longer borrow money on his
working force, to which no wages
were paid, The negroes must have
their wages every month. and United
! States money must be Forthcoming
with which to pay them. Deprived,
| not only of the negroes as property,
but also of the certainty of their labor
throughout the year, the basis OF the
farmers credit is cut down to his land
and his character for honesty and en-
ergy. Under these circumstances the
Southern farmer finds it vastly more
| difficult either to borrow or to loan
money than he did in the ante bellum
period,
It will lie wise to consider what made
the GOOD times of which the CORES
pondent speaks. Was it the amount OF
money in the United States, or was 1t
the degree of confidence which enabled
the farmer to borrow money or secure
credit whenever he wanted them? This
question is easily answered. From
treasury report it is seen that in 1850,
which waa the culmi1ation OF good
times in the South, TIE cotton and
sugar crops having topped the ante
belium record, there were of population
. in the United States 3l,443.321. and
total of money, s44o, loa, At. making te
each head Of population si4,o6. In ls91
the total money in the country Is
, piver at 81. 754, 900 900, while the popul
alton is put down ate ,ooo,o 900, making
a per capita of wealth of se6,o2 From
this it will be seen that while th'
population in thirty four years ha
rather more than doubled. the amour
of money has increased about fourfold
Rut If S14 to the head made high de
gree of prosperity in 1860 the same al
It lowance ought to make the same pros
d peritv in 1894 But it does not. On tn
is contrary, with nearly twice as mue
e money per head there is great lack g
le pros Gritty. which is plainly due, not
,r the scarcity of money. but to the 10y
1T condition of commercial conhdenc
r. which is needed to put tit in circulation
ID With sl4 head abundant prosperity
ct possible, If only there is free use an
or circulation of the money in busines
10 but with twice, or ten times as mnc
t. there is no prosperity if there is no col
n Gaanee to secure an active bushes
is movement.
as This being the case, how can any larl
rs addition to the money in the countl
ty improve business Suppose, by way
d. illustration, that the free coinage
ch silver. which means the coinage Il
r. ,r;vate owners. of bullion, were allo'
vi I'd. and suppose. further. that the s.
ss ver dollars, instead of falling to u
VI commercial value of the silver in ther
re sbould continue to be worth 100 cent
az how would they benefit the people
Ia large IL tn. ~ were not put into immee
h' .t. circulation? How is anybody goir
nc To get any of those dollars or any OF
'es er money except in the way of busine'
a 'm and If business is not revived by
,er s,or.,ion of confidence, how will tn
sw or any other money get into circ'
alton?
people talk thoughtlessly about t
of necessity for larger amount
ito money, but they cannot even get wh
OF is already here, Why is this9 simT
,he ,h hc.nss. no matter how much mon