Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-03-25
SCARCITY OF MONEY.
Many Parts Of the South and
West Have No Money.
Business Conducted by Barter-A Re-
markable Speech by W. u.
DOdge-What Caused Bry.
ans Big Vote.

ans Big Vote.
Mr.. W. L. Dodge, one Of New York's
most enterprising and philanthropic
business men, was delegate from the
New York chamber Of commerce to the
business mems sound money conven-
tion which met recently at Indianapolis
lie was member of the executive com
mittee of the Indianapolis convention.
A short time after he was chairman of
the arbitration committee at Wash
ington. In both capacities he had ex-
cellent opportunities for meeting
representatives from different states.
The following is part Of his some
what remarkable speech before the
chamber Of commerce when submit
ting his report of the Indianapolis
monetary conventions:
II was surprised, sir, to find the
assertion made constantly by men from
the far western states and the south
and southwestern states that 1t was not
Mr.. Bryan and it was not silver that
they were in favor Of, but they needed
some change to bring relief from the
terrible condition Of poverty and scare
ity of money under which they labored.
"They felt that their condition was 30
extreme and so painful that any change
would be of value, and when ! came to
look into the matter and talk in kind
ly and friendly way with them they all
confirmed the same feeling, which I
had found at long conversation in the
treasury department, in Washington,
that the circulation Of the country Ia
quite out Of joint, and the lungs and
heart are congested and that the ex'
tremities Of the country are absolutely
without any blood.
II found that there were great sec.
tions Of the southern and western
country where there was absolutely nc
money at all, where the most primitive
forms of barter obtained, where every.
thing was most disorganized. One
gentleman told me that in his county
which was quite a rich agricultural
country, by some happy accident a $50
bank bill had come down into the coun.
ty, and that he had taken a horse and
buggy and spent four days in visiting
all the towns in the county striving tc
get it changed into smaller bills, but
had been unable to do so, and finally was
obliged to send It to Richmond. There
were senator's who told me that theii
constituents never saw dollar of mon.
ey from the beginning Of the year to the
end, with the result that they had con.
stantly to go into debt to the local
storekeepers. The local storekeeperi
received their pay in kind. In fact
everything was drifting back to the
old times before money was invented
And this was not In one section Of the
country only, but in large sections.
I'VE can quite easily understand that
where there is not sufficient money to
establish national bank under the
very onerous laws at present in force
there Is nothing else to take the place
The ifficulty has come up in other
parts Of the world. In Austria and Hun.
gary, in southern Germany and in
southern France these difficulties were
understood and appreciated years ago
and agricultural banks have been
founded there, and they have doubled
the value of real estate, and they have
made the peasantry and the farmers
rich and prosperous.
"The same thing has taken place In
Scotland, as many of our friends know
Every town in Scotland with over 1,0O(
people has branch bank Of some one oil
the great banks Of Edinburgh or Glas
gov. A man Of good character who
wants to fit out fishing smack or buy
anything for his farm Is able to &c
there, and II his credit is good he i,
able to borrow money as cheaply as any
merchant could. 1t has double effect
It is not only giving to those neighbor'
hoods the money that they actually
need, but it is educating the people il
thrift and promptness. | have talked
with a great many Of my banking
friends, who say that the whole thing
depends upon the character Of the peo
Pile; that the people are speculative ant
that nothing can be done for them.
my impression is that II som'
thoughtful plan could be suggested i
would be quite possible to educate al
the agricultural people Of the country
TO understand that man who is thrifty
and honest and sober and prompt car
always in some way get some money
II is veryhard thing-we do not under
stand II at all here because we have sc
much money moving among us--but i
every time we went 10 store we wer'
unable to buy anything except on credit
II we had no money to pay down to en-
able us to reap the advantages Of casf
payments. we should begin to be fret