The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-27
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obligation rhey would certainty have 70 pay
an enormous premium for the kind OF money
required. They would not escape making pay.
ment In money OF the present standard and
would have 70 take their chances Of getting
enough more for their products to enable them
10 make the payment without actual loss. They
certainly would not gain anything end would
take all the Iisk Of losing-losng not only the
pay. but depending upon the forbearance Of
their creditors not to lose all they possess:
And what Is the probability Of the creditor
being able % willing 10 grant conoessionsf
Depositors links would withdraw their de.
posts. 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
mont 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 IL. IL would diminish our money
by the amount OF our gold and its representa-
tives at the very lowest estimate, soc. 000. CO.,
Its disappearance would be immediate.
Moreover. SIR we would have poorer money.
The silver money would be bullxier and less
convenient than what We have new. And IL
would lack in stability, And while money
makes the mare GO we should not forget. sir.
that II must b. stable money.
Creditors, as 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 ovcrwhelm.
ing defeat, OF every proposal for the free coin
age OF silver.
Marvellous Performance Of Circus Dollar.
When l was a small boy, I saw something
that shall never forget IL was at circus.
The clowns and some other employees ar
ranged themselves in a circle. Let Us say that
there were ~ Of them In all No. l said to No
2: 81 owe you 81. III pay up as soon as can. V
No. made this statement To No. 3 No. 10
No. 4. and so on around the circle. No. 20 say.
ing IL to No. j. No. showed his hands into
his pockets and with look of pleased surprise
pulled out a dollar. Turning 10 No. 2, he said
al didn't know that had that dollar. Here s
so much on account" No. took the dollar,
and with similar language passed IL ON to No.
y. and so II went around the ring. No. Dpassed
IL to No. l, who received il with a smile and
started to put 10 into his pocket, but instead
he turned TO No and said. ~ didn't expect
TO be able TO pay, you the balance so soon, but
here II is" And SO u went around the ring.
finally coming back to No. l, who with sat
isfed smile put IL into his pocket.
To the little boy who looked as did thirty
odd years ago. this was simply the funny work
OF clowns to be laughed at and forgotten Il
was not forgotten, however, and TO the man
older grown and charged with the serious con.
illustrates the profoundest truth in finance.
What II that TRUTH 1t Is this: Under proper
conditions the working power OF dollar IL
beyond all human computation.
was very much surprised to hear this aft
ernoon a man SO prominent as my friend from
Tennessee Mr.. McMillinl speak As II money
paid for taxes was lost to circulation. ] have
often heard men speak as II they thought that
there must be as many dollars in existence as
there are dollars worth Of business TO lie
transacted. What would farmer say to On
agent for bushel baskets who should attempt
to convince him that he needed as many bas.
kets as he expected TO raise bushels Of cropf
The farmer would feel that his intelligence
had been insulted, and Justly He knows
that he can use the same basket over and over
time viii lie depend on the speed with Which the
one handling IL works And then, II properly
used, II Is ready to do as much more.
SO with the yardstlck the pound weight and
the dollar. Each can do an almost Infinite
amount of work II properly used. What are
the conditions of highest efficiency IN money
under what conditions can given amount Of
money do the most work. Let us examine our
illustration.
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 five minutes. Why WIS this2 Sim.
ply because it moved promptly.
Now let us examine the matter little more
closely. Why did II move sof Why was each
one 30 prompt to pass the dollar onf Because
he 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 mp, Moreover. each had condolences
In the other. There was a 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 10 him2 Because he knew
| that it was good dollar. He knew that when
that day or not for ten years. 10 would be just
as good as when he accepted IL.
Suppose. ON the other hand, that each OF the
men had dollar in his pocket but that they
distrusted each other, each fearing that II he
let go Of the dollar that he had he might not
soon get another although money was due
him, and suppose that each was afraid to
-cept the money OF the other. fearing that IL
might not be good when he wanted TO use IT,
would BE the rests wS S ~ ooarss saes
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 ~ dollars could accomplish
nothing. In other words. the quality Of money
tity.
And, sir, n set of men who make IL part OF
their plan to malign human nature and then
offer us debased currency would not only
deprive us OF part OF the money that we now
have. but they would paralyze the working
power Of what remained. They are not only
morally wrong, but financially unwise. They
and their policy are alike condemned. They
offer poor money and distrust We offer
abundant money OF the best quality and well
to found confidence; Is there any doubt rs to
To employ figure OF speech, we contend
that our body polite needs in its circulation
both kinds OF corpuscles, and that 10 needs
them both all Of the time. The best that is
promised by the gentlemen ON the other side
Is that their plan will furnish them alternate
ly: one ut time, first and then the other
that Is, sir, they offer n sort of chills- and
fever system, which would produce distress in
life and would result in early death to bust
ness enterprise.
Our plan secures TO our circulation all the
elements needed for the health Of the body
including both kinds OF corpusces, all Of
the time and in the proportions demanded
by the most vigorous life. And behind this
good financial blood. to prevent its stagnation,
to propel IL in life giving circulation, even to
the extremities of the body. we place the great
heart, NEUTRALITY-SUSPICIOUS. in our financial
system and In each other, confidence in our
system based on approved experience, comb
dence in each other based on the knowledge
that. after all. men would rather do right
than wrong.
ADDITIONAL CALUMET NEWS
johnson, the Engraver, Agnitz block.