The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1896-09-24
THE FARMER.

The farmer who is supposed to be
prosecuting his Investigations of the
currency question continues this week
as follows:
Gard times, il is said are due to
scarcity of money. and scarcity Of
money is said to be due to the fact
that silver is not coined free MIR
Bryan says there is a reduction going
on of about S100,0O0,000 per year IN
the currency of the country and If
this thing is not stopped the contrac
ton will prove ruinous, in fact that it
is running us now, / looka;: over the
reports of the treasury department to
find if this is true. l find we have
five times as much coin, including
bullion in the treasury as we had in
1873. and two times as much money
in circulation now as there was then.
Of course. | understand the treasury
department calls all that ''in circula
ton" which is outside the Z. S. treas
ury. This know is not now in circula-
ton, because people are afraid to loan
money and are hanging on to it until
they are satisfied it is safe to loan it.
The contraction which seems to be
hurting us is this contraction which
keeps money from circulating and
prevents business from being done
thus lessening the demands for our
products.
Il looked the report # the treas
ury department over to see how the
money in the United States this year
compares with the money in this
country in 1892, when business oil
every kind was brisk, running under
sucb high pressure that it went away
beyond the needs of the country anC
beyond the amount of money which
the natural laws of trade would re
quire, though there was no scarcity
of money that year which marked {
boom in everything.
| find that there is hardly $30,0O0,00(
less money in the country this yeal
than there was in 1892, but there are
almost S70,000,000 more lying idle i
the treasury now than there was then
| know that there is much more mon
ey lying idle in banks and in private
hands than there is in the treasury
and far. far more than there was il
1892. The circulation now is abou
| S97, 100000 less than it was in 1892
SO far as treasury balances on hanC
show But if the Z. S. treasury show:
this, how much of deficit would bt
shown in circulation if we could learI
the amount boarded up by banks anC
individuals because of fear to let i
out! Here is what causes us all the
trouble, the holding of our money
from circulation and lack of demand
for it because business is dull from
lack of confidence in the future
Il find that people will get money
to do business if there is any business
to be done. Business never stands
still for want of money. Some sub
stitute for money will come if there il
a scarcity. During the war there wa
scarcity of money. We had IL
gold or silver at all in circulation ex
cept in California, and our minis die
but little coming But we found sub
stitutes for money. We had govern
ment issues of paper money, shin
plasters and even stores issued token
which passed current in certain local
tiles. Here was regular famine o
money, but business did not come t.
stand still for that reason. If Their,
was scarcity now these very sam,
substitutes would come into existence
II BUSINESS WAS SUCH AS TO NEED MONEY
1t seems to me we are working a
the wrong end Business Away
brings money. The business must b,
of safe kind or money won't go to it
Ii we have conditions which make /
profitable to engage in business none.
will come. There is more money il
the world now than there ever was ant
money never wants to be idle if it i
safe for it to be busy.
What we should do is to make i
safe for money to become active. [
| try to pay off debt l owe for on,
for one half its amount, that persol
will never loan me again. If we TT,
to cut down the income of factorie
one half these factories will not re
open if they ale closed now, and thos
IN operation will do just the business
of the Immediate present so as to Sc
cure themselves against loss. | would
not contract to sell my crop of mex
year at present prices if there is
chance that | would have to take
money then which would be onl,
worth one-half as much as money /!
| now That &c thn h1o noun
every concern which usually make:
contracts for the future, and when thi:
business is knocked out, we are sure
TO have dull times
agents come to us and tell us i
we will only buy the things they have
for sale, they will surely make u:
wealthy. Politicians come to US anC
tell us if we vote so and so, it vii
surely raise the prices of our products
| am getting sick of these promises
and am convinced there is no patent
scheme which will raise the price oil
farm products. If we have general
prosperity there will he a greater de
mand for what we raise and the de
mand will raise the price. If all the
iron mines IN the country are open, il
all the factories are running, there will
be a greater demand for what we farm.
ers raise. can see clearly these things
will not come about while there
is uncertainty as to the kind of money
which will be paid for the iron which
is manufactured next year from the
ore mined this year; or the kind which