Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1899-11-01

power to say what that dollar and
those cents shall be made of. At
present it says that dollars shall be
made of gold. But supposing con-
gress re-established free coinage Of
silver, and supposing further that
you had traded of some of your
"brass" for 4l23 grains of silver. A
silversmith comes to you and wants to
buy that silver for so cents, which is
it's market value now. Would you
sell it for that? Wouldn't you, or
rather, wouldn't any sensible man in
your place say: "Mr. Silversmith,
Uncle Sam will coin this silver into a
dollar, good for paying any debt,
public or private, I reckon I'll patron
ize his mint and get dollar instead of
so cents?' The silversmith would
have to pay dollar If he wanted that
amount of silver, unless he could ind
some cop fool that still believed in
the SO cent dollar argument.
Then the Reporter makes the
astounding discovery that we have too
much money already. AS proof Of
this he cites the fact that a person
with GOOD SECURITY can get 6 per
cent loan. The cop editor ought to
know, if he knows anything, that that
money never is loaned on anything
but real estate security, especially
farm lands. 1t is the money of the
Netherland company, of Holland, the
big insurance companies, college en-
dowment funds, etc. that must have
good security. They make loans for
as long a time as possible, and look
more to security and length of time
tn an to high rate of interest. Oh
course they take as high rate as they
can; but when there is little demand
for farm loans they have to reduce
rates to Induce borrowers. The farm.
ers have learned from dearly bought
experience to keep out of debt as far
as possible. They do not borrow sc
recklessly for the purpose of improv'
ing their farms as they did some years
ago. Consequently these loan com
panies find business less brisk, and re-
duce rates. Their money never enters
in the business loans for short periods
and their rates furnish no basis fol
determining scarcity Or plethora O.
money in the business world. The
rates for short loans made by the
New York banks is the best thermom
eter for that purpose. 1t is in tina
market that every money crisis has
started, and when rates there go sky
ward there is always apprehension
throughout the business world.
No, we do not deny that times are
better than in 1893 and following
years. They are better all over the
world. The reason is apparent TO any
thinking man. After big crash al
industries are idle for some time
every body tries to make clothes, uten
sils, machinery, houses, ETC., do duty
little longer. But finally the time
comes when they must begin to buy
BY their enforced saving they have
bettered their condition somewhat
and are able to pay cash when they
would have taken on credit before
This causes rapid increase in manu-
features and commerce. But remem.
Der. the people are doing in year o,
two the buying that should have been
spread out over all these years. This
abnormal demand cannot last long.
The only thing that could make last.
ing good times would be prosperity
for the farmer, and as his products
have not risen appreciably while
everything he buys has gone up with
giant strides, his capacity for absorb.
ing the products of manufacturers
must soon be seriously reduced. Then
the manufacturers will have to take
in sails or crash on the rock of "over.
production
A prosperity that does not reach the
basis of h nation, the farmers. cannot
be permanent; and the less the cops
crow about it now, the less ''crow'
they will have to eat in the future.