The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-03-16
TIE sEMIwEEKLY MESSENGER, TUESDAY. MARCH Is, 1897

scarcity OF circulation, n that in
some states there is a positive money
famine. We gave what Mr.. Dodge, a
gold witness, in New York city. said
after visiting the west. We gave what
a well o commercial traveller said
as given in the Richmond (Va-) Dis
patch. These statements hav awaken
ed public attention afresh. The Boston
Transcript, among h northern
that have had something
to say of the reports, accepts these
statements, and others made by the
rural press, as not excessive, but true.
1T gives this from a West Virginia pa
per: Farming communities r liter
ally gasping for money, as a dying
person gasps for breath"
There is not a southern or western
state today that is not suffering from
monetary construction. There are GER
taimly sections in North Carolina where
the monetary stringency amounts to
strangulation. The Transcript has
grace enough to see the truth and TO
write this:
mo argument is necessary, with such
object lessons in view, to show that
the machinery Of our currency distri-
button is all out of gear. The money Of
the country gOes around and around in
pent-up channels, mere local eddies
and inner circles, embracing a compar
atively small fraction OF the whole ter
ritOry of the country, instead of rOa
ening out and blessing those who are
thirsting for the relief it would bring.
1t is one Of the mast vital questions to
be considered in connection with pend
ing currency reforms"
Now what effect will this and any
amount of cumulative facts similar to
1T, nave upon the congress and the ad-
ministration and the influential organs
of the huge money power? The state
ment are facts, the condition describ-
ed is real, the famine most genuine.
What will come Of it? All the banks
to be started up would fail to relieve
the pressure under present conditions.
We agree with The Atlanta Constitu-
ton in the statement that the estab-
lishment Of a national bank at every
cross roads in the country would not
enable h farmers to get a dollar of
money in addition to that which they
are now getting. They cannot borrow
from a national bank unless they have
bonds and securities as collateral, and
IL they are SO fortunate as to have
bonds and securities, they are not like
ly to figure as borrowers.
In spite Of all the inventions of the
ingenious, in spite of the progress soci-
ETY. has made, in spite of the march of
civilization, there is only one way by
which the producers a secure money,
and that is to exchange the products
of their labor for it,"
The true cause of the famine is not
hidden, it not far off, is not hard to
discover. 1t has been seen through the
years, was foretold long ago, has been
discussed again and again. 1t is right
before ones eyes, around him every
where. What is it? The Constitution
gives it exactly in this:
That cause is in plain view. 1t lies
in the fact that the incomes of the
have been cut off during the
past four a from one-half to two
thirds. They, therefore, have no money
to contribute to trade and business.
They hardly have money to pay their
debts and taxes. Money is, in itself,
worth more than any article it will
exchange for. That which was intend
ed to be only an expression of value
has become value itself"
There lies the trouble, wide open,
easy of d~iscernment. Who will apply
the remedy? Whence cometh the so
must needed help?