The times. (Owosso, Mich.) 1882-1897, 1896-08-14

Country q
yer produced in the whole world that year.
Why sir, the cluclfing hens OF our farms pro-
duco moro wealth every year than these silver
miners, who so patronizingiy tell inc farmers
Farmer friends of mine In Minnesota have
told me that before the war they have hauied
wheat 80 miles to market with an OK team. oc-
cupying days in each trip, and got 40 cents a
bushel for II in wildcat money. which was In
hons. Yet in those days the mint was open to
the "free and unlimited coinage OF silver"
The Situation of Farmers In 1873.
So much has been said by free silver orators
TO mislead farmers into the idea that every
thing was prosperous with the them Delofe 1878
q paragraph that I have copied from the re-
port Of the Iowa State Agricultural society for
1878. 1t is from an address delivered by o. II.
Rogers at the Harrison county fair. and gives
o faithful picture of the situation at that time
in that mighty state:
in practical agriculture, stu fhe condition of
the laboring man and farmer fsf ar from what
Is desirable. They have worked: watched and
waited for an adequate reward until weart-
ness has well nigh turned to hopelessness
Farming has been financial failure for the
Srorrb Co bns tSe
unexampled harvests, but the sales have hard
ly paid expenses and bought cheap clothing
until the coming harvest. There is no surplus
to improve buildings. purchase thoroughbred
stock and furnish the home with any Of the
luxuries of art and literature"
Would Be Hard on Debtors.
Let us suppose that the advocates of free sill
the presidency and the house and continuing
to control the senate. What would be the nat
ural thing to expectp What would you do II
some one owed you and you were not protect
ed by gold clause in the contract? You would
demand what was coming to you. Every man
hGying an oblgatiS9n Il, coming t que w would; IN
to him while he could still get paid in money
of full value. Debtors would be compelled to
Fifty, With promise to pay in money of the
present standard On the maturing Of their
obligation they would certainly have. to pay
an enormous premium for the kind OF money
required They would not escape making pay
ment In money of the present standard and
have TO TAKE % Of
to make tho payment without actual loss. They
certainly would not gain anything and would
take all the risk OF Distinguishing not only the
premium which they would surely have to
pay, but depending upon the forbearance Of
their creditors not to lose al they possess;
being able and willing to grant concessions2
Depositors In banks would withdraw their de-
posits. This would compel the banks to call in
their loans. The four months between election
and inauguration would be strewn with the
wrecks of business houses now giving employ
ment to millions OF people.
The plan Of the free silverites, as all expert
ence shows would subtract from our volume
Of money very large and exceedingly valua.
BILE part of it. 1t would diminish our money
by the amount OF our gold and its representa-
tfves, at the very lowest estimate, 5000, OOO 600
AS oranyer sr we ouid IL baHe onrer
The silver money would be bullxier and less
convenient than what we have now. And ID
would lack in stability. And while "money
makes the mare go'' we should not forget, sir,
Creditors. as a rule, would therefore be un.
able, no matter how well disposed, to grant
concessions to those who were owing them.
We who are in debt, sir, are the ones most vi
tally interested in the defeat. the overwhelm-
dpfanf. a a
age of silver.
Marvellous Performance Of Circus Dollar.
When was small boy, saw something
that shall never forget. 1t was Mt a circus.
The clowns and some other employees ar
ranged themselves in circle: Let us say that
there were 20 of them in all. No. said to No.
2:"I owe you ~. I'll pay up as soon as can"
No. 2 made this statement to No. No. 3 to
No. 4. and so on around the circle, No. 20 say
ing it to No. l. No. showed his hands into
his pockets and with look of pleased surprise
pulled out dollar. Turning to No. 2, he said:
30 much on account" No. 2 took the dollar.
So il the Pns
it to No. l, who received it with q smile and {
Started to put it into his pocket but instead
to be able to pay you the balance SO soon, but (
here 1T is. And SO it went around the ring.
finally coming back to No. J, who with SAT-
To the little boy who looked as ! did thirty !
odd years ago. this was simply the funny work
was not forgotten however, and to the man (
older grown and charged with the serious con-
sideration Of the affairs OF great nation 1t IL
What is that truthp 1t is this Under proper !
conditions the working power Of q dollar is
beyond all human computation.
was very much surprised to hear this aft. I
ernoon man so prominent as my friend from J
Tennessee [Mr. McMillin] speak as If money |
often heard men speak as IL they thought that |
there must be as many dollars in existence as (
there are dollars worth Of business to be !
transacted. What would q farmer say to an (
agent for bushel baskets who should attempt !
to convince him that he needed as many bas- !
The farmer would feel that his intelligence |
had been insulted, and justly SO. He knows |
that he can use the same basket over and over
time will depend on the speed with which the
one handling 1t works. And then, IL properly
used, # Is t ready to do as I'M much more
the dollar. Each can do an almost Infinite
am Ct work II properly used. What are
under what conditions can a given amount Of
money do the most work. Let US examine our
The dollar in the circus ring did the work of
forty dollars in five minutes and was Just as
capable of accomplishing as much more in the
succeeding SUI, fye minutes: why was this' Sim
Now let us examine the matter a little more
closely. Why. did it move sop Why was each
no felt good-that is, he felt honest He felt
that when he owed money and had il in his
pocket the only proper thing for him to do
was to pay up. Moreover, each had confidence
in the other. There was feeling of respect
and good will among the men in that ring
This Is one OF the conditions under which
money does its work most effectively.
What is the other condition. Why was each
man willing to accept the dollar In payment
Of what was coming to hm2 Because he knew
that It was good dollar. He knew that when
ever he wanted to uso it, whether 1t might be |
that day or not for ten years, 1t would be Just
as good as when he accepted Ii.
Suppose, on the other hand, that each Of the
men had dollar in his pocket, but that they
distrusted each other, each fearing that IL he
let 60 Of the dollar that he had he might not
soon get another, although money was due
him, and suppose that each was afraid to ac-
cept the money of the other, fearing that IL
might not be good when he wanted to use it,
that IL would depreciate on his hands-what
would be the resultp Why, of course, each
would'keep In his pocket what money he had,
and each would continue to owe the other
that is, the money would accomplish nothing.
Quality More Important Than Quantity.
With good money and mutual trust dol
lar did the work of 40, while with questionable
money and distrust 20 dollars could accomplish
nothing. In other words, the quality of money
Is immensely more important than its guam
tity.
And cir m eaf ~ NOR, xyyo ,,.,-o "a - -