The Louisiana populist., 1897-10-01
A SIMPLE QUESTION.
A CHILD COULD UNDERSTAND
FINANCE.
When tho Money Standard Appreciates
While the Value Of Products Deprecl.
ates the Masses Suffer for the Benefit
Vt the Few.

TO the welfare of the people is so plain
ly shown in history that "he who runs
may read," says Thomas c. Hodgson,
IN Farm, Stock and Home Our great
est money volume, in proportion to
business done, was at the close of the
war. At that time prices ran up, val
ues OF real estate-especially farms
increased phenomenally. The 7-3Os
were retired; between one and two HIM
dred million Of greenbacks were de-
stroyed. Then followed the panic Of
1873 and a depression of several years,
during which the greenback party
arose and stayed the hand Of slaughter
even forcing the government to issue
greenbacks in place of part of those
destroyed. Then followed the Bland bill
and resumption Of specie payment,
which threw large majority of gold
and silver into circulation, followed by
an era Of prosperity. The business of
the country expanded so rapidly as to
create a scarcity of money, which re-
suited In another depression and the
expansion OF the currency through the
Sherman law. Then followed a brief
revival Of prices which caused business
to vastly out-run the trifing increase
of currency, and the result was the
panic Of 1893. There was another cause
for this panic, and perhaps greater
one. During the decade of the sos
the great shortage Of money was sup
plemented by resort to credit. The
real estate debts of our state increased
300 per cent in those ten years. BY
the early '9Os our credit was exhausted,
confidence" was crippled. The great
producing classes found themselves
with big business on their hands with
small capital and no credit, hence the
panic. Congress assembled in extra
session, and after gigantic battle null
lifted the Sherman act. These States
men" believed, like some physicians,
that "like cures like" We were suf-
fering from want Of blood. The cure
proposed was more bleeding. Stagna-
tion does not describe the result; stag
gernation (if l may coin the word) ex-
presses it better. It would be boon
if the experience of these four years
could be blotted from our history.
Congress called an extra session to
deal with the tottering patient. What
is the proposed cure? Tariff! More
taxes. More staggernation blood! Phle-
botomy is their only science. Fleams
and the leech their only instruments
What else could be expected? They
are the children Of their alma mater
business!
do not agree with some. The farm.
er is not the greatest sufferer now. He
was eaten up years ago; they are not
making fortunes out Of him now. They
are devouring one another. Your city
papers are full Of advertisements in
display type-Half Price. The stronge,
eating up the weaker Oh, the canni.
balism of business! And the bigges,
cannibal is actually believed by the
American people to be the righ. mar
to manage the public business, to pre-.
side over the destinies of the people tc
be eaten! Does it take spoonful OF
brains to see where all this must end:
1t Is not lack Of intelligence that per.
mits this sort Of thing to prevail. /,
is lack of moral sense-spirit. What
We need is more manhood. More Of
that spirit which insists on human
rights regardless of consequences
When one reflects how simple the es.
sential principles of all the sciences
are-especially the science OF govern.
ment-it is impossible to excuse tn,
people on the ground of ignorance
Take the tariff: Shrewd minds car
spin out theories so fine, 50 involved
so intricate as to battle the intellect Of
an angel. But the whole system is
swept away like cobweb by the sim.
pie statement Of Henry Watterson:
III taxing the whole people for the
benefit Of part of the people be moi
wrong nothing is wrong" Take the
money question and just paraphrase
Mr.. Watterson and you have it all be-
fore you: IT constantly appreciatine
money standard be not wrong, nothine
is wrong"
The principles Of the gospel were
announced by its founder to be 10 sim
pie that even "babes and sucklings'
apprehended 1t readily. Blinded b,
arrogance and selfishness the "wist
and prudent" entirely overshot the
mark. The longer sucn men study
question the further they go astray. III
the blind lead the blind both shall fall
into the ditch" Stay by the first prin.
ciples Use your own intelligence and
your own conscience. II you are short
of money, and everybody around you
is short Of money, and everything is
cheap except money, you can reach the
conclusion that money is scarce, with
out any great mental effort, and then
use your influence. and vote to make
it more plentiful, just as you would II
any other necessary article was scarce.
You certainly would encourage, the
production Of it. Uncle Sam produces
all the money. Why don't you encour-
age him to produce more Of It? Is 1t
T. ~ k~f