The Maryville times. (Maryville, Tenn.) 1884-1944, 1896-08-13

duce more wealth everT year than these silver
miners who 50 patronixnsly tell the farmers
what they win do for them
Farmer friends of msss IN Minnesota have
told me that before tfie.war they have hauled
wheat 80 miles to market with an OK team oc-
cupying days in each trip and got 45 cents
bushel for 1t in wildcat money. which was in
danger OF being worthless when they got
homs, 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 them before 1873
and nothing has been since, that submit now
a paragraph that have copied from the re-
port Of the Iowa State Agricultural society for
1873 1t Is from an address delivered by G. Fl.
Rogers at the Harrison county fair, and gives
u faithful picture of the situation ut that time
in that mighty state:
.'Proud of these aspectsandi VI her progress
in practical agriculture, still the condition Of
the laboring man and farmers far from what
Is desirable. They have worked watched and
waited for an adequate reward until weari-
ness has well nigh turned to, hopeessness.
Farming has been a financial nailure for the
past three years Hard toll has opened up fine
farms and brought to the bins tAe products Of
unexampied 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
Injuries of art and literature
Would Be Hard on Dslstors.
Let us suppose that the advocatesof free ST.
yer sweep everything before them, capturing
the presidency and the house and continuing
to control the senate. What would be the nat
ural thing to expect? What would you do il
some one owed you and you were. not protect
ed by gold clause in the contractR You would
demand what was coming to you. Every man
having AN obligation coming due would, in
self defense, demand all that might be coming
to him while he could still get paid in money
of full value. Debtors would be compelled to
pay up az once or give new and betteE seeu
rity, 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
nlent in money of the present. standard and
would have to take their chances of getting
enough more for their products tD. enable them
to make the payment without actual loss. They
certainly would not gain anything and would
premium which they would surely have to
pay, but depending upon the forbearance Of
their creditors not to lose all they possess.
And what is the probability of the creditor
Depositors in banks would withdraw their de-
posits. This would compel the banks to call IN
their hoans. The four months between election
and Inauguration would be strewn with the
wrecks of business houses now giving emplDy.
ment TO millions Of people.
The plan Of the free silverites,. IS all expert
enee shows, would subtract from our volume
OF money very large and exceedingly valua-
bic part Of it. 1t would diminish our money
by the amount of our gold and its representa-
tives ut the very lowest estims5e, s60C, 600
Its disappearance would be immediate.
Moreover, sir, we would have poorer money.
The silver money would be bulkier and less
convenient than what we have. now. And it
would lack i'll stability. AntE while 4money
makes the mare co. we shouiil NOT forget. sir,
that it must be stable money.
tradf fpv-. 40 n rstln fhnr fnraA x.t
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.
ing defeat. Of every proposition tbs free coin
| age Of silver. 81
/ Marvellous Performance OF o cinons Dollar.
| When was small boy;,A saw something
| that shall never forget. was Mt q circus.
| Tho 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 81. I'll pay upas soon rs ! can. I"
| No. made this Statements to No. 8 No. to
| No. 4, and SO on around the-eircle. No. 70 say
| ing it to No. !. No. showed his hands into
| pulled out dollar. Turning to No. 3 he said
| ~ didn't know that had that dollar. Here's
| SO much on account" No. took tho dollar,
| and with similar languages. passed 1t on to No.
| 3, and so II went around tharing. No. 20passed
it to No. l, who received ID with smile and
started to put 1t into his pocket. but instead
| he turned to No. and said, II didn't expect
to be able to pay. You, the balance so soon, but
here 1t Isl And SO IL went around the ring,
finally coming back to Ne. !, who with sat
| isfed smile put it into his pocket.
To the little boy who locked rs did thirty
odd years ago, this was simply the funny work
| of clowns, to be laughed at and forgotten. II
was not forgotten, however, and to the mar
older grown and charged with the serious con
sderation of the affairs OF a great nation 1t il
Illustrates the profoundest truth in finance
Mad d, hat f~..fl do Ir,,1o
conditions the working power of u dollar IL
beyond all human computation.
i Twas very much surprised to hear this aft
ernoon man so prominent as my friend from
Tennessee Mr.. McMillinl speak Us II money
paid for taxes was lost 30 circulation. have
often heard men speak as II they thought tina
there must be as many dollars in existence al
there are dollars worth of business to b.
transacted What would farmer say to al
agent for bushel baskets who should attemp
to convince him that he needed as many bias
kets as he expected to raise bushels of crop
The farmer would feel that his intelligence
! had been insulted, and justly so. He know
that he can use the same basket over and owe
again, and the quantity measured in giveI
time will depend on the speed with which tn
one handling it works. And then, IL properl,
used it is ready to do "a much more.
So with the yardstick, the pound weight ant
the dollar. Each can do an almost infinite
amount Of work If properly used. What ar
the conditions of highest efficiency in money
under what conditions can a given amount o
money do the most workf Let us examine on
illustration.
The dollar in the circus ring did the work o
forty dollars in five minutes and was just a
capable Of accomplishing as much more in tn
succeeding five minutes. Why was this9 Sim
ply because it moved promptly.
Now let us examine the matter little NOR
, closely Why did it move sop Why was eacl
one SO prompt to pass the dollar on? Becaus
, he felt good--that is, he felt honest. He fel
that when he owed money and had it in hi
pocket the only proper thing for him to d
was to pay up. Moreover, each had confidenc
in the other. There was feeling Of respec
. and good will among the men in that ring
This is one Of the conditions under whicl
. money does its work most effectively.
What Is the other condition. Why was eac
man willing to accept the dollar in paymen
Of what was coming to him? Because he kney
. that it was good dollar. He knew that when
/ ever he wanted to use it, whether 1t might b
, that day or not for ten years, 1t would be jus
! as good MS when he accepted 1t.
! Suppose, on the other hand. that each OF tn
' men had dollar in his pocket, but that the
distrusted each other, each fearing that II h
I let go of the dollar that he had he might nc
! soon get another, although money was du
: him, and suppose that etch was afraid to az
cept the money of the other, fearing that
/, might not be good when he wanted to use il
. that it would depreciate on his hands-wha
. would be the resultf Why, OF course eac
would keep in his pocket what money he hat
and each would continue to owe the other
q that is, the money would accomplish nothing
n Quality More Important Than Quantity
! With good money and mutual trust do
lar did the work of 40. while with questionabl
money and distrust 70 dollars could accomplis
q nothing. In other words, the quality Of none
:. is immensely more important than its qual
5 tity.
g And. sir, set of men who make it part
Il their plan to malign human nature and the
y offer us debased currency would not onl
9 deprive us,of part of the money that we no
have, but they would paralyze the workin
n power of what remained. They ale not onl
( morally wrong. but financially unwise. The
n offer poor money and distrust. We offe
q abundant money Of the best quality and we
s founded confidence. Is there any doubt as
g which tho American people will approvef
h To employ figure of speech, we conten