The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1898-07-29
The Currency Question.
Conditions Obtaining ~ This Coun-
try Fast Approaching Those
Which Prevail Abroad

In n local financial school. auxiliary
to journalistic enterprise. we are
taught that an abnormal growth of
the surplus holdings of the banks-an
accumulation in bank vaults of money
belonging TO the peoples indicative
of prosperity.
This is a new and novel proposition
in finance. II it be conducive to the
general welfare TO place in treasure
boxes, in bank vaults or elsewhere.
$50 per capita of the circulating me-
dunn. and permit it to remain idle, IT
follows that the more money Is locked
up and prevented from performing its
natural functions. the better will the
conditions be. Ergo. bury all OF the
people's cash, and an ideal situation
obtains.
What rubbish is this to place before
an intelligent clientele? What violence
does it not do TO the common sense
comprehensions Of the people?
Why does the money accumulate in
the bank vaults, here as well as
everywhers else throughout the coun-
try? Why is the surplus in excess of
the legal requirements greater at
every money center than ever before in
the history of the country? Why are
the balances due TO the United States
upon it's unprecedented expectation OF
breadstuffs last year permitted to re-
main on deposit in European banks?
WHY are many banks in this country
sending their surplus abroad for in
vestment? Why is there such a scram-
BILE for the three per cent certificates
of indebtedness of this government.
when the lowe st legal rate of interest
anywhere in the United States is 100
per cent. or more?
Is not the reason apparent to the
dullest comprehension? Money. par
adoxical as il may seem, has become
scarce instead of plentiful - 1t
has become more valuable than any
other kind of property. The only form
Of investment that now lures the cap
italist is securities. bearing fixed rates
of interest, paying at given time
! and place. and the value of which is en-
HANGED rather than curtailed by the
, steady fall in the value of all other
VI DiOlttANf. ht p'Vs -
E fers these low priced bonds to an In
vestment in a home. because of the
E fear that before title is finally secured
its selling price will have fallen below
q the figure he contracted to pay. The
n limitless undcvelopcd resources of the
r country offer no attractions to the
4 men of means in these days. for the
G same reason They shrink from In
e vestment in property upon failing
$ market-they are waiting for values Il
II touch bottom. We hear of the enor
l. nous profits OF this industry and o
e that, but it is observed that few new
II mills and factories are being erected
l. and the tendency is all in the direction
a of consolidation and restriction o
l. manufacture. trust Is formed b.
r the consolida ton OF ten manufactur
ing concerns-not for the purpose o
increasing production, but for the pun
pose of restricting it-and the ten ar
worked half time or five of them ar
- closed altogether pending the retur
of good times.
And what are good times? Time
when labor in all the fields of industr
ic is adequately rewarded. When Their
DR. is profitable employment everywher
(. for willing ha nds to do. When there
r. a sure reward for energy expended
clearing the forest. in retaining mois
IN and arid lands. in planting orchard
Z in digging dit ches. extending railroad
~ building mills and in extracting I'll
i precious met ais from the earth. Whe
a. the deposits in the banks do not ia
~ exceed the loans. When people has
or confidence i'm the permancncy of va
ues and the constantly cnhancin
!, worth OF real property. When n s
, much greater profit can be countc
!, upon in every Legitimate branch {
business, commerce and manufactur
~ that three per cent. bonds will go bel
- ging among the capitalists of the ol
world.
Disguise the truth as we may. IN
=" becloud the future with sophistici
~ reasoning as we are prone TO do. an
ne the facts return to torment us. III
m conditions obtaining in this countr
le- are rapidly npproximating those whic
re- prevail abroad. Gold Is the ruin
monarch.--Los Angeles Herald