The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1897-07-30
RETURNING PROSPERITY.

AID contained the following:
"Money is easy in Maury County.
The people are nearer out Of debt
than they have been for years, and
the banks have more money on de-
post than they know what to do
with"
This unfortunate admission" from
a bimettalist, as some are choOsed
to term it, seems to have brought
some comfort to the anxious heart
of our good friend the Hon. j. A.
Cunningham of Kimmins, who takes
it for his text in a letter to the Nash
vile American.
"What a wonderful statement"
he says mot theory of Brother
Lander's, but simply statement of
fact. The logic of facts is
doing the work. The evidence Of
this is that money is now easy and
plentiful, and such men as F. d.
Lander have the manhood to pub
lish it to the world
We are sorry to turn away COM
pliment so nicely put, and hope that
Mr.. Cunningham will not think less
of our "candor" or manhood"
when we tell him that the theory"
he spins for our facts" is altogeth-
er mistaken one.
The facts are as stated; money is
easy in Maury County; the people
are nearer out of debt than they
have been for years, and the banks
have more money on deposit than
they know what to do with. But
that the gold standard, or the Ding
ley bill, or McKinleyism in general
has had aught to do with this eX-
cept to hinder it on its way, we
deny, and can give better reasons
for this theory, we think, than Mr..
Cunningham does for his.
Take the first statement and the
third, and consider them together:
money is easy in Maury County,
and the banks have more on deposit
than they know what to do with"
Mr.. Cunningham's theory is that
the "single gold standard basis
has brought forth this benificent re-
result, if benificent it is. We deny
that the conditions have improved
in the least. Lets see. By refer.
ence to our files and taking the
bank statements of last year, we
find that the banks of Columbia had
on deposit then, in round numbers
$4,000; this year, from the state
ments so far made they have on de-
post $4,000. A difference in favor
of this year of about $4,000. They
had loaned out last year $244,000
they have loaned out this year $751;,
600. They had ''mOre than they
knew what to do with" last year
Chat is, excess of deposit over loans
to say nothing of capital stock
$l26,0OO; to this add capital stock
and we find that last gear the banks
of Columbia had in their vaults
$2lG,0O0-nearly a quarter of a mil
lion of idic dollars.
This year their loans so far report
ed are $3S7,000; on deposit, $4,000
excess of deposit over loans, C'mor,
than they know what to with" $2S,
900; add to this, capital stock, $l2O,
600, and they have now, "more thar
they know what to do WITH" $l48,
600, while last year they had $246,
600, a difference of nearly one hun
dred thousand dollars in favor o
last year over this.
That is the prosperity Mr.. Nc
Kinley with his protection idea, anC
his aids, the gold standard Demo
crats(?)-God save the MARKHAM,
brought in the "teu short months o
his administration, to which tn
gentleman from Kimmins point
with so much pride.
But without these figures, Mr.
Cunningham will remember, as al
of us remember, that all last sum
mer the New York banks were act
ually Overrun with money. 1t wa
fact argued and admitted by bot
sides, and the McKinleyites con
tended that to elect him would re
store confidence and withdraw thi
surplus from the bank vaults ant
send it into the channels of trade
To some extent it has restored conf
dcnce among the bankers; they ar
less panicky than they were a yea
ago and are loaning more literally
but they still have more than the,
know what to do with, business
still stagnated, new enterprises ar
as scarce and business failures a
frequent the first six months of lS9
as for the corresponding month
of 1896.
Columbia is perhaps as prosper
Gus a town as there is in the South
and yet not a new house of any con
sequence has been built this yeal
not a new enterprise has bee
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