Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-13
pn. coRNwELL's nLoop-LETTING
PROCESS,

II In always well TO know your dis
ease before you begin TO take medl-
cine, Here comes Mr.. VIM. C. Corn
well OF Bunalo. who as n leading fac
Tor In tho New York bankers assocIa-
tlon has taken an active part in the
fight against grecnbacks and trensury
notes. and In support OF his PROPOSE
ton 10 cancel $500, 900 OF govern
ment currency at the rate OF 500. 0O0.-
900 year declares that It is essential
30 the financial health OF the country
that 1t should get rid OF some OF ita
surplus money. In stating the demand
that the grccnbaeks and treasury notes
shall be destroyed Mr.. cornwell says:
1--WE do not ask this 10 be done all at
once: We only ask for the retirement OF
one hundred millions the frat yeur--a
contraction OF the currency already too
redundant. which would be a benefit,
mot a hardship on Commerce"
Rhodes journal OF Banking ana
Bankers Magazine. the leading publ
cation OF its cIass. makes n similar
diagnosis OF the country's disease. II
says;
The redundaey OF the currency Is
hrgely responsible FOR tho evils under
which the country has been auifarln,r
Aa long aa this redundncy Is not di-
minlshed 40 long win every effort M
fceuperntion be retarded II IL be not
entirely defeated, A currency whether
or gold or paper In excess OF the wants
or business causes extravaganza In
ideas and extravaganza In ali depart
ments OF buslncss and society. This
cNtraNaRnncc tends TO reduce the pro.
uuctiye energy of country and by
degrees TO lessen the capital and
wealth contained therein. The manner
U which the present currency system Is
detrimental TO all departments OF In
dustry. trade and commerce ean he
easily seen. Money should mi,
higher In New York than IN Innhnr
Tor many years to come, The reason
II does not IL because Of the rcdun.
dnncy or the currency. The rate OF in
tcrest In the centers OF trndc OF M.
United States should rule HIGHER than
IN the oenters OF trade OF England ar
any old country. We require canit.I
10 develop the resources which nrs MI
wy exploited. Tho higher interest
rates attract this capital. Low rates
nnu uistruht OF the existing currency
TEN or the United States can he ~.
FORMED so that the money OF the conn.
Wy viii become elastic, and proportIon
user to the true wants OF buslness
prosperity Will permanently return
Here Is a mirror that shows us orr
national dcformitlcs In all their naked.
ness Our people use too much money
They cat too much. Halt ratlons are n
good thing; especially for man who
mas To work. tney keep him fron,
becoming eorpulcnt and lazy. wa
wear too many clothes. It would
be better II we had to stir about mara
to keep warm. We travel too much
Z 'cuhivatcs habits Of idleness. We
buy too much Of everything aud want
TOO many comforts. This spirit of ex.
travaEance - from tho devil and IN.
consistent with that humble and con.
y trite henrt''which DR.. cornwell ana the
Journal OF Banking hold to be so es.
sentini to the welfare OF the common
people. Without redundant chr
rency. they could not Indulge In these
evil pleasures; that 10 very, clear. Ergo.
the currency must be contracted. Then
7iii The Nation b forced 10 learn anew