Owingsville outlook. [volume] (Owingsville, Ky.) 1879-192?, 1896-05-31

a strpping-stone for more money.
Lay il on, McDu.i. Keep on tell
ing it. We accept it. Supply and
demand regulate prices. you gold
r:,n say. We agree. We want
more dollars, cheaper dollars. more
means. cheaper. does not take 50
much labor or the productions Of
labor to get them.
We had aimed to show in for
mer articles that the hard times
are due to complex causes, a part
Of which are people spending more
than they earn, and the threat of
silverism.
We arc duly appreciative of the
many virtues of the farmers of
this county, and what we say now
is said in the kindlicst spirit of a
people we delight to honor. They
certainly are industrious and as
worthy as any people we know of.
And if we seem to criticise any of
them it is to establish IA general
truth and warn them of u misap-
prehension of matters of govern
ment finance.
Surely if everybody had spent
less than he earned and had man
aged his surplus with business-like
prudence there wouldn't be any
body poorer than he was twenty
years ago. But you can't eat
your cake and have it," 1t has
been said by some one OF a philOs-
optical turn of mind that there is
no such thing as holding ones own
in finances; that Il man must eth
or be forging ahead or dropping
behind. To accumulate property
one must pay his way each year
and lay aside a surplus. Interest
is sure to eat up the ones capital
that pays it year after year with
out reducing the principal. Bor-
rowed capital is valuable sometimes
to "a energetic business man, but he
must be engaged in a highly profit
able calling and steadily reduce
the principal, as well as pay the in
terest promptly. When man
fails to make his living expenses
and adds to his interest bearing in
debtedness each year it is only a
question of time when he must
fail. These statements apply to
flush times as well as to hard
times.
In the ten years preceding JAN
uary LIST, 1892, the lot of the farm
er of Bath county was a happy one.
Never before in history was there
such an opportunity for farmers in
this county. Live stock, grain
and tobacco were all profitable; to-
bacco so much so that merchants
and professional men engaged in
raising, buying and selling it more
or less. Everybody that managed
his business with common pru-
dence was prosperous. OF course
there were due proportion who
didn't profit by the good times
Such people wouldn't under any
circumstance that are likely tC
occur, for they are not built thai
way. But all those who tried
properly made money. Such is
the optimism Of human nature
that too many people lived as ii
good times were permanent con-
dition; they lived at rate proper
tionate to their prosperity, heed
less of the possibility of hard
times ever coming. In consequence,
when the years came when Their
labor was not so profitable it was
not easy to reduce the living ex-
penses proportionately. 1t ap,
peared easier to live at the same
rate and go in debt for the differ
} cnce. This debt added to each year
and the accumulated inter lest tel
the story of many man being be-
hind, and that too when it couldn't
be said that any money had been
spent foolishly, unless all money
spent in excess of the yearly in.
come could be called "foolishly.
spent" money.
The hard times began as result
of the collapse of the specializing
rage that was worldwide in extent
and influence. Then the Mckinley
tariff law threw into confusion the
!, manufacturing systems of all the
great nations, throwing the work.
men out of employment and re
ducing their ability to buy our food
products and clothing made from
our raw materials. Then the fear of
capitalists that the Sherman law
would operate to ultimately change
our monetery standard added
fuel to the flames. The repeal OF
the purchasing clause of the Sher,
nan law temporarily removed that
threat and affairs were in a fail
way to be adjusted if the Western
and Southern TfSrmers had only
} been patient. But, no, they mus
be misled by the schemlng mime
owners, the demagogues, the shai-
low politicians, and some that W Pc
honestly wrong, into agitation fol
the free, unlimited and independent
} coinage of silver, and by their very
} support of the movement to pro-
!; long and intensity the hard times
they wished to Danish.
| Our corpt. doesn't understand
that there is more involved in sill
verism than the mere adding of the
product of silver to the coinage
A free-silver law would revolution
ize our whole monetary system; it
would change the value Of dollar
from 100 cents to about so cents ;
it is a form of reputation of debt,
|, a plan for debtors to forcibiy CON-
promise with their creditors for
about soc on the dollar; it is plan
for the forcible reduction of wages
about one-half it is a scheme that
will Immediately in effect demonet-
ize every dollar of gold in America
and drive il ont of circulation. thus