Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-05-10

A Voice From Tennessee.
To the Editor Of the Thrice-a-week World:
country bank director to give you reasons
why the silver craze will not down?
1t Is this: The common people realize
that the demand for money equals the
demand for everything else.
Second, that the price of all commodi-
ties is worth what 1t will bring on the
market in dollars.
Third, that the Increase of the number
of dollars in circulation will increase the
price of property, and the decrease Of
circulation will decrease the value Of
property.
Fourth, that debts and taxes must be
paid On dollars, and do not diminish when
property falls
Fifth, when property falls in value
when measured by dollars the debtor suf-
fers and the creditor is benefited
Sixth, that property does not consist
alone In money, but in lands, wheat, cot
ton, stock, manufactured products, ma
chinery, etc., and that men who have
their investments in these things are en-
titled to have their property protected as
we'll as the man who has his in money.
Seventh, that If by legislation or ma
nipulation you increase the value Of mon
ey by decreasing the supply, you corre-
spondlngly decrease the value of all other
property which must be measured by
money.
Eighth, that this policy ruins debtors
and impoverishes property holders.
Ninth, that the law of supply and de-
mand regulates the value of money, as
At does everything else, and when money
becomes too high or too valuable. then
all other values Shrink, enterprise Is sus-
pended and business stagnates.
Tenth, that the idle money now In
banks is caused by the shrinkage In val
ues, because men of enterprise are afraid
to use 1t, knowing the investment and
profits would not pay back the borrowed
money and interest.
Eleventh, that falling prices always de-
stroy enterprise and trade, while rising
values Increase enterprise and trade.
Twelfth, that a high dollar is detri-
mental to every other class except the
money lender.
Thirteenth, that the argument made
that falling prices are the result of over.
production Is unsound because absurd
1t Is impossible to become poor by the
production of wealth. 1t is under-con-
sumption caused by the rising value and
scarcity Of the dollars that has caused
falling prices.
The writer has an actual, practical
demonstration of the truth of the above.
I am lawyer, stakeholder in bank and
farmer. Eight years ago my farm
paid me 10 per cent, my bank stock the
same and my law practice was double
what 1t is now. / had a leading practice
at the bar then and now. My farm has
not pdlu over per cent IOr the past TWO,
years, while my bank stock has paid me
H. If this does not demonstrate what
1 have stated I do not know how it can
be done.
1t Is well that there should be an in
terchange of views among all classes.
Those that have grievances have right
to be heard. If well founded they
should be remedied. have given you
the Views of the common people. They
say that an increase of circulation is
absolutely necessary for them to pay
taxes and debts and be able to have
surplus to invest in clothing for their
families and buy tools and machinery to
run their farms. That they can do
neither unless they have the money to
pay for them. That they must stop
consumption of all manufactured prod
ucts unless there is rise in the products
of the farm. That at present their en-
tire produce is consumed in taxes and
repairs. That If they cannot run their
farms successfully the mortgage when
he forecloses will fare no better. That
when the creditor gets the property of
the debtor taxes and repairs will ruin
him as IT has them; therefore. in the
long run we will all fare alike. When
the creditor gets the elephant what will
he do with him? Will he pay for keep
ing him? JAMES A. JONES.
Woodbury., Tenn.