San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-03-23
SCARCITY OF MONEY.
Many Parts of the South and
West Have No Money.
Business Conducted by Barter-A Re-
markable Speech by w. e.
Dodge-Whnt Caused Bry-
ans Big Vote.

MI. w. L. 1OdSCB OhC "a -NS" AVA -
most enterprising and philanthropic
business men, was delegate from the
New York chamber of commerce to the
business mems sound money conyen-
ton which met recently at indianapolis.
He 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 a part of his some
what remarkable speech before the
chamber of commerce when submit
ting his report of the Indianapolis
monetary convention:
81 was surprised, sir, to find the
assertion made constantly by men from
the far western states and the south
and southwestern states that it 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 so
extreme and so painful that any change
would be of value, and when l came to
look into the matter and talk in a 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 is
quite out of joint, and the lungs and
heart are congested and that the ex-
tremities of the country are absolutely
without any blood.
u found that there were great sec
tions of the southern and western
country where there was absolutely no
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 quito q rich agricultural
country, by some happy accident $50
bank bill had come down into the coun-
ty, and that he had taken horse and
buggy and spent four days in visiting
all the towns in the county striving to
get 1t changed into smaller bills, but
had been unable TO do so, and finally was
obliged to send it to Richmond. There
were senators who told me that their
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 storekeepers
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.
we can quite easily understand that
where there rs not sufficient money TO
establish a national bank under tho
very onerous laws at present in force
there is nothing else to take the place.
The same difficulty 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 900
people has branch bank Of some one of
Abe 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 20
there, and if his credit is good he is
able 70 borrow money as cheaply as any
merchant could. 1t has a double effect.
1t is not only giving to those neighbor-
hoods the money that they actually
need, but it is educating the people in
thrift and promptnesS. have talked
with a great many of my banking
us.4%4 a.-.~'- -