The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1896-09-22
AT ST. LOUIS.

assume, In Gne nrSt place, tnal
every citizen is competent to form all
opinion upon this issue. Our oppO-
ncnts tell us that the money question
is Il complicated question, and THAT
only Il few are able to master it. There
Is no question which can come before
the American people which is too deep
for the American people themselves.
(Applause.) There is no question
which must be submitted to O particu-
lar class of people. (Applause.) The
Creator did not make any class Of peo-
pie TO think for the rest OF the people.
(Applause.) Ii he had He would have
given extra brains to those who were
to do the thinking and simply have
given backs to all the rest that they
might carry the burdens Of life. Zap
plause.l The constitution did not sug-
gest that any class Of people was to
act for any other class. If the found
ers of the constitution had ever sup
posed that a question would arise like
the money question, and had thought
that 1T could be only settled by fnan-
cters, then our forefathers would have
written in the constitution that while
on most subjects all the people might
vote, on the money question only the
financiers could vote. Applause and
laughter.) When the ballot was given
to you 1T was given upon the assump-
tion that you had the intelligence and
patriotism necessary to use it right,
and believe, my friends that you
nave.
In this government publication, IS
sued by the treasury department on
tho first OF July, 1896, find statement
OF the amount Of money of all kinds in
circulation among the people for the
various years. Let me call your atten-
lnf IN 4
years 1904, '95 and '96. In 1891 the
amount of money in circulation, ac-
co o'ding to this report, was 81 $3.50, 70C,- :
600. In 1895 that amount Ofnoney had
fallen to 81 56l 900. 000-a deer ase in
one year of 5000 600. On the 30th
day OF June, 1896, the amount in cir
culation had fallen to 81 SOC, ,000 00C.
What does it mean? 1t means that in
two years time, according to the
treasury report, the amount of money
In circulation among the people had
fallen about one hundred aud fifty
million dollars in amount. In other
words, In two years time there has been
decrease OF about 10 per cent. in the
amount OF money in circulation among
the people. This, my friends, is the
| Treasury report, and this report shows
that while the per capita circulation
in 1894 was S24.2S per capita, in 1896 it
had fallen to $2l 10, fall OF more than
SO per capita. A voice: :" i haven't
got five cents in my pocket.") There
is violence ia the remark Of my friend
that even decrease per capita is not
distributed with absolute equality
| (Laughter).
Now / have called your attention t.
this decrease shown by the Treasury
report. Let me show you, my friends
that instead OF there being decrease
there ought to have been an increase
each year. Senator John Sherman
made speech on the 9Th of June, 1890
and in the courge OF that speech ht
used these words: II our presen
currency Is estimated at 81 400, 600, 00t
and our population is increasing at the
rate of three per cent. per annum, /
would require $42,000,000 increased
circulation each year to keep pac,
with the increase OF popuation; bu
as the increase OF population is &C
companied by q still greater rate o
increase OF wealth and business, it wa
thought that an immediate increas,
in circulation might be obtained b.
larger purchases Of silver bullion to ~
amount sufficient to make good the re
tirement OF bank notes and keep spaC
with the growth of population. Assum
ing that $51 900, 900 year OF additiona
circulation Is needed upon this basis
that amount 10 provided for in the bi
; by the Issue OF Treasury notes in OK
change forbuilion st the market price.