Hutchinson gazette., 1899-04-13
SOUTH LACKS MONEY.
SOUTHERN FARMERS SUFFER
FOR MONEY FOR BUSINESS.
RESTORED Confidence has not benefited
The Southern Planters and Cotton
Growers Among Whom the Credit
System ID n Curse.

Our readers have no doubt heard Of
tho Reform club, which has It's head
quarters on William street, next door
to WALL aud many OF them doubtless
have seen the 'sound currency" pam
phlets which It has been issuing since
the beginning of the campaign in 1885,
The purpose OF the Reform club 10 es-
tablishing Its department OF pamphlets
was TO defend the single gold standard
and oppose the restoration OF bimetal-
lism, and during the campaign OF 1896
and afterwards its publications we're
all directed TO proving that the supply
OF currency was amplei that prosperity
existed everywhere in the country, and
that low prices Of products were miti-
gated or Offset by the increased pur-
chasing power OF the dollar The writ
erS employed by the Reform club were
Instructed TO deny every contention
made by the promoters and defenders
OF bimetallism, and to this they devo-
ted themselves with great energy and
industry. They insisted that the ma
tlonal bank system was the most per-
feet that had ever been devised; that
tho currency system would be perfect
when the gold standard was establish
ed; that people who had nothing to
cell could not expect to have money;
that no matter how much currency the
government might issue or how much
silver might be coined, those who were
without money would continue to suf-
fer for the lack OF 1t, and that the talk
of hard times and currency famines
was simply part Of the scheme Of the
"crazy silverites" to depreciate the
currency and "rob labor Of Its just re-
wards"
Nauseating as was the iteration and
reiteration, the stream OF 1t continued
to flow from the Reform club. Those
who read these publications were told
that nothing whatever was necessary
TO the restoration of prosperity-if
prosperity was indeed lacking-but the
restoration OF confidence. That was
The one thing necessary to do. How
was 1t TO DO doneP By defeating the
Democrats, by supporting the Sound
money" candidates. DO that, said the
Reform club, and confidence will be at
once restored That is all that ia nec-
essary. We have had prosperity under
pur present system, and we will have
Il again as soon Os the business inter-
Ssts Of the country are assured that
depreciated currency will not take the
place Of Sound money" under the gold
standard.
We thrash over this old straw merely
tb call attention to the fact that
change seema to have come over the
Reform club In the matte r Of currency
reform. One Of it's recent publications
Ia from the pen Of Mr., M. b. Hammond
who takes for his subject "The South
ern Farmer and Banking Reform"
and deals in it in way that shows
he 10 entirely familiar with the un-
happy condition Of affairs that exists
in the south, Though "banking re-
form" Is a part of the title Of his sub
iect, he deals with currency reform
and 1t would have given clearer con-
ception of ,)is purpose II he had en-
ployed that term.
But the point to which we call at.-
tention Is that the Reform club,
through the medium of Mr.. Hammond,
admits, 80 far as the south is concern
ed, every contention Of those who fa-
vor bimetallism as means OF increas-
ing the money supply. Heretofore,
when The Constitution, as part of its
argument, has been compelled to de-
scribe the appalling condition Of the
southern farmers, due to lack of a
medium Of exchange, It has been de-
nopnced by the Reform club coteric as
o broaker, prophet Of evil, and the
condition of the unfortunate cotton
grove lcribed TO thriftlessness or to
idiotic methods in the management Of
their business, and then figures would
begiven showing that there had been
tteady increase In the volume of
money in circulation, followed by the
stereotyped declaration that nothing
was necessary but the restoration of
confidence. Our readers no doubt have
very lively remembrance of these
things, for It has not been 80 many
months ago when the gold newspapers
were full of them.
but the publication Of Mr. Ham
mond's article by the Reform club
shows that there must be lingering
OF the gold .worshippers The article
is in the nature of demand for
credit currency in note form adapted
TO the needs of the agricultural com
munities. Now, The Constitution
while In favor of the restoration of
bimetallism, has for years advocated
a. II t,..