The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1897-03-01
Money Famine Among the Farmers.

correspondent of The Richmond Dis
patch:
A gentleman from Abingdon, who has
been commercial traveller for over
twenty years, was here yesterday. Speak
Ing of the condition OF the people in
financial way. he said it was truly deplora-
BILE. In some sections they had absolutely
no money. A merchant Of ample means.
and who did good business. chiefly by
barter had TO travel all over his county
TO procure enough money to pay him the
amount of small bill of goods, which was
| overdue. In some places they never see
dollar, from years end to years end. He
found numerous merchants who were una
bic to make any purchases of needed goods.
because they had no possible prospect of
procuring the currency with which TO pay
for 1t; and tho condition of Former thriving
and prosperous people was appalling and
| alarming.
The Transcript follows this with some
comments, which are exceedingly in
teresting. 1t says that the picture can
hardly be overdrawn as the rural press.
not only in Virginia. but in states inn
mediately adjoining, are taking UP the
statement, vouching for its truth. and
passing it along with cumulative evil
dence; and the remark of a West Vir-
ginia paper is quoted to this effect:
Farming communities are literally
gasping for money, as dying person
gasps for breath"
Our Boston contemporary should be
told that the currency famine which it
places in Virginia and in states imme-
diateiy adjoining extends over tho
whole agricultural region of the repub-
lie, south and west. and affects all who
are directly concerned in farming The
Transcript then proceeds to comment ON
the currency famine lin parD as fol-
lows:
no argument IS necessary with such OBJ
joct lessons in view. TO show that the ma
chinery of our currency distribution is all
out of gear. The money of the country
goes around and around IN pcnt-up chan
neis. mere local adde's and inner cir
Giles. embracing a comparatively small
fraction of the whole territory of the coun-
try. instead of broadening out and blessing
those who are thirsting for the relief II
would bring. II is one of the most vital
questions to be considered in connection
with pending currency reforms
Our contemporary goes on to suggest
that the Brosius bill, which recently
passed the house. is calculated to afford
some degree of relief. This bill permits
the establishment OF national banks
with capital OF $4,000 in places con-
tanning population OF 5000 or even less.
The Transcript says that such system
would be boon to two-thirds of the
merican people directly and to all indi-
rectly."
There is ono fact TO which we desire
20 call the careful attention Of The Tran
script. which seems Inclined TO accept
facts namely: that although we had
our present currency system four years
ago. the people were bordering on pros
perity We have had the same system
for thirty years. and the people have
prosperod to some extent. Indeed, they
have witnessed an era of remarkable in
dustrial development. and the agricul-
tural classes have thrived until within
the last four years. That this IS true
cannot he denied. It is part of the his
tory Of The country.
The conclusion to be drawn from this
fact IS that, although our present cur
rency system IS unscientifc in all re-
spects it IS not wholly nor even partly
responsible for the present condition of
affairs. it Is not responsible for the
present dearth of money in the farming
regions. a dearth that has reacted on
trade. commerce and business with the
most direful results. We hope we take
Tie Transcript with us when we say
that the establishment of national
bank ut every crossroads in the country
would not enable the farmers to get u
dollar of money in addition to that which
they are now getting They cannot
borrow from n national bank unless they
have bonds and securities as collateral
and if they are so fortunate as to have
bonds and securities, they are not like
iy to figure as borrowers.
In spite of all the inventions of the
ingenious. in spite of the progress society
has made IN spite Of the march Of civ
iliZation. there is only one way by which
the producers can secure money, and
that is to exchange the products of their
labor for It, Every dollar that IS en-
gaged either in trade or I'm speculation
must first pass through the pockets Of
the farmers Of this country or through
thehands OF those who are directly depen-
dent on them. This is q fact that does not
appear on the surface Of things. but a it
tie reflection viii show how absolute Is
the low hat makes the trade. commerce
and general business of the country de-
pendent on the thrift and prosperity Of
The farming classes.
The Transcript is. therefore, going FAR
aileld when it seeks to find in orr present
currency system the cause Of the money
famine in the agricultural regions That
cause IS in plain view It lies in tho
fact that the incomes Of the farmers
have been cut off during the past four
years from one-ha1f TO twc-thirds. they.
therefore have no money 10 contr;hn,e
10 trade and business. They hardly
have money to pay their debts and tayas.
Money IS. in itself. worth more han
any article it viii exchange for. That
which was intended to lie only an express
sion of value has become value itself.
There is nothing radically wrong about
our currency system except the gold
standard. and that viii not he radically