The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-07-27
ELI HANDS COIN" THE HATcHET


When I called on Coin In Chicago
opened his book and asked him what III
meant by this astonishing paragraph:
THE annual interest on all our public
and private debhs Us more than the annuA
profits OF business and production"
II mean," said Coin, ''that our country
is In a bad way"
"lf you mean anything nt ALL Coin,
l said, you mean that tine interest WE
pay is more than the princlpal!'
"Wen-perhaps-"
Never mind the perhaps" 1 inter-
rupted. "Tlhese are your written words
and the unthinklng newsboys ON the
trains have swallowed them. They are
the key Ito your wlhlole argument. You
say that, because we stopped coining
silver after the treasury got loaded up
with $50S, 100000 worth of dead coin, the
nation began to get poor, until we ars
now ON Ithe eve of bankruptcy. Now,
Coin" l said, get down your CENSUS re-
port (No. 1872, June 4, 1922 and answer
me-what was the value of aid the prop
erty in tine United States I'm 1S6O-answer
It, Read ut from tlhe CENSUS report"
''Wen," said Coin, scanning the pages
that HE hlld mllsquotled, '1the report says
N6,159. .6l60S."
"And how much property I'm the United
Sltatels tsn years lalter-Gn 1902
Just $50 1000, 900, 0OO" said Coin. at had
about doubled"
And how much ten years lal.er, in 1850,
after the war shudnlNage"
"1lhe relport says $i3, 3,000, ,00000 o."
And now Coin put In what you sup
pressed I'm your book. How did THE ma
tion stand I'm 1902"
"Wlhy, 1t is estimated THAT al our prop
e1ty, even to TOWNS below 1000 population,
amou1l.ed to $4,000, 900, ,000."
80 our property hals doubled In ten
yeans?'
"W-w-well, 1t s--e-e-uIl-s So" said
Coin, colorlng up,
ut lis 80, COIN" saad "You are read
II from the United States CENSUS re-
PORTS When IA nations profits in busi-
ness and production increases per cent
a year 1t DON'T look much hike national
Bankruptcy does tIt?"
"No--'well you don't ltalde In private
debts and mortgages an-N
''Thege you go again, Coin, You str:ad-
die ON fallacy. Every debtor has a
creditor, Debts and credits among the
people balance themselves, A half million
people In Chicago might borrow "a half
a million dloEaCs from chs rest OF
the population, and Rhe wealth. lis aid In
Chicago. Does 1t make amy difference who
has the money, the debtor or the creditor?
One-han of New York is mortgaged TO tn,
other half but the tweaIth and collateral
are here"
"Well-maybe
Mover mind tihe ", Coin" interrupted
1--WE are aIlter 1acts. Now" l said,
turn ITO the cealsrs report ard see what
our public debit WAS i'm 1885,"
1T was $2,S31, 100000 an awful debt"
said Coin.
"ArAd what was 1t I'm 1902"
"Why, only 81, ,45i, 100000"
Now, do You call that running be-
hind, Coin? ls the interest eating up
the prsnclpal?"
WEI the debtor and creditor class
and llhe money unit"
20 stop, Coin; stop THAT nonsensel You
have befuddled the people too much al
ready with your primary money and re-
demp.lon money and creditor class. Give
US straight English. Now again what
was THE rrIJerest ON our public debt In
1SS0?"
"It was $llS, 900 0O0-an awful interest"
"Yes, It was, Coin" I saad, but what
was Ut in 1902"
''Why, only s9I,OOO0OO."
"a reduction of the interest on tho pub
lic ddbt OF $54. 1000 In ten years. Coin,
ionit look like running behind. does bt?"
CJIn bit his finger nails harder than
sver and seemed lost I'm Thought After
eddng him think a moment, said;
Now, Coin, your book is fun OF just
Iuch b.anters, and the people begin ITO see
hem now. But our country has done
,edser than Ehis. n you study the census
'eports you win find that we have, dur
ng this thine. built 10000 mites of raii-
,oads, worth $1,000 0O0, 900. buik up our
ron industry. worth $2.OOO.OOOO0O thrtb-
J,ed our coal output, raised the cotton
'rop from 5000. 100000 bales TO 1900, 100000.
nd---"
'Heavenl' exclaimed Coin, running his
ingsus through his hair. Il was away
m. WASN'T II"
Yes. you were; and now hear what
'iuiha1 the gVeao sitagiStician. says,
peai1.ng OF our growing wealth and tn
diligence under limited blmetalllhm. The
United States says Nli,hal1, between 1850
ma 1890 Increased SO. 900. 100000 in wealth
md taugnt 49.OOOOOO bt her psopAe 10 read
nd wri'te, and
Il hear enough, " said Coin. II see now
cw have tangled up the people. Oh,
,ow Wish were back an Wichita ard
Aueblo, for then, ff tire boom did last.
had iaaid to stand on. But made my
liver boom out of pure wind, and now