Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1897-03-11
SCARCITY OF MONEY.
MANY PARTS OF SOUTH AND WEST
HAVE NO MONEY.


York Chamber Of Commerce What
Caused Rryan's RIg vosc-A Had Cur.
rency Systcm- Farmers Have Real Gricv-
anccs Must Rc Attended to BEFORE 1900.
MIR w, Il, Dodge, one OF Now Works
most ontcrprising and philauthropio
business men, was 4 delegate from the
Now York chamber Of commerce to tho
business NOUS sound money convon.
ton which met recently ut indianapolis,
He was n member Of the executive COM
mittco OF the Indianapolis convention.
A short timo after he was chairman Of
the arbitration committee ut Washing
ton. In both capacities he had cxcollont
opportunities for meeting roprescnta-
tives from dillcrept states. Tho follow
ing is u part Of his somewhat romark.
able speech before the chamber Of COM
merco when submitting his report Of the
Indianapolis monetary convention:
II was surprised, sir, t. lind tho rs.
scrtion made constantly Ivy men from
the far western states and tho south and
southwestern states that il was not Mr.
BRYAN and il was not silver TINT they
were in favor of, INIT they needed some
change To- bring roiof from tho terrible
condition of poverty and scarcity OF
money under which they lahorrl They
folt that their condition was So eNtroma
and so painful that amy change would
be of value, and WHOM ] came to look
into tho matter ANA to tall, in u frirndly
and kindly way with them they all
confirmed the Same feeling, which had
found 40 u long conversation in tho
treasury department. in Washington,
that tho circulation Of tho country IL
quito out Of joint, that tho lungs aud
heart are conSested and that the OK
tromites Of tho country are absolutely
without amy blood
IL found that there were great sections
Of the southern and western country
where there was absolutely no money 40
ALL where tho most primitive forms Of
barter obtained. where everything was
most tlisorganiaod. One gentleman told
mo that in his county, which was quite
rich agricultural country. by some
happy accident $50 bank bin had
como down into tha county and that no
had taken II horse and buggy and spont
four days IN visiting all the towns In
the county striving To get II changed
into smaller bills, hut had boon unable
to do 10, aud lnally was Obliged 10 sond
Il to Richmond There woro senators
who told mo that thoir constituents
never saw Il dollar of money from tho
beginning Of the year To tho end, with
the result that they had constantly to 40
into debt to the local storokoepers. The
locnl atorokerperS received their pay in
kind. Ia fact, everything was drifting
back to the old Times before money was
invented. This was not IN ono soction OF
the country only, but in largo sections
eve can quito easily understand that
where There is not sufficient money to
establish national bank under tho
very oncrouq laws III present in force
there il nothing else to take tho place.
Tho snme difficulty has como up in other
parts Of the world. In Austria aud Hun.
gary, Ia southern Germany and in south
orn Franco these difficulties woro under.
stood and appreciated years ago, ard
agricultural hanks luyo been founded
there, and they have doubled the value
Of real estate, and they have made tho
peasantry aud the farmers rich and
prosperous
"1'hc Same thing has taken place In
Scothpd, NJ many nf our friends know
Every town IN Scotland with over 900
people hasa hya,eh hank Of como one Of
theEroathaal#oi hdiuhrEhort Glasgow.
A man a. good character who wants to
ct out iahiug prao,l o. buy anything
for his farm i able to 70 there and il
his crodit IL good hu ~ nbto to borrow
money nsclirapy rs any merchant could
Ii has double effect. Il IL not only
giving 10 those rciKblorhoods tho money
that they actually need, but IL il odu.
eating the = ap!n III thrift and prompt.
ness, / hayg talked with d rent mnny
Of my~hnuliug friends, who say that the
whole thing depends upon the character
Of the people; that the people arc epecn
lativo and that nothing can be dono for
them. My impression liz that Il some
thoughtful plan could DO suggested il
would be quite possible 20 educate all
the agricultural people Of the country to
understand that man who ~ thrifty
and honest and sobcr aud prompt can al.
ways III Como way get some money Ii
Is very hard thing--wo do not under.
stand il mt MI here because wo have 80
much money moving among us--but II
every timc we went to store wo were
unable to buy anything except on credit,
II we had no money 10 pny down TO on.
able us to reap tho advantages Of cash
payments, we shonld begin TO DO frotful
do hope, sir, that tho thoughtful and
good men Of tho north and east will bq
willing 10 take up this subject.
1T was brought out at tho Indian
apolis convention that after the first sad,
serious mistake made necessary by the
exigencies Of tho civil war we had gone
on with makeshifts ever since. One BIZ
Of legislation necessary to bridge us over
d particular crisis has been met with
another With every issue Of bonds and
Of greenbaclis, and with every other
form Of currency, Legislative enactments