The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1899-12-29
THE MONEY SITUATION.
Eves New York Admits the Country
Has oatErown the Volume
81 Money

In a time when the country Is ha-
raised by a veNatious war tax. which
Greens into every home in the land,
the secretary OF the treasury sends
s.. Oc0 900 10 New York for bond re-
demption. We might dwell upon the
policv which leads 10 the redemption
OF bonds before they are due with
money SO obtained. or We might
make much OF a policy which makes
the national government a mere
annex to a local gathering of money
changers. but passing these points of
contest BY. il is sufficient to direct at
tention to the proof which this action
gives that there is not a sufficient vol
uine OF money with which to carry on
the trade of the country.
To be read in connection with the
foregoing, is the following business
exclamation OF the situation.
.The president OF New York trust
COMPANY said TO me the othet day that
the business Of this country HAS OUT
/ GROWN THE VOLUME OF MOEEI,"
remarked Wee President T.. C. Spald-
ing, of the Atlanta, Knoxville and
7 Northern.
Everything is on boom in New
7 York except the stock markets. and
I they would be moving skyward III
I MONEY WAS PLENTIFUL At pres
/ ent New York has been drained of
money BY the interior. The gentle
men 10 whom | refer stated that the
south is better of for money now
-. fe If.rr~
here for the movement Of the cotton
crop. When that crop gets TO market
the money viii flow back to New
York"
In these two news items is con-
tanned the Justification Of the con-
tinuous poss,y OF the masses ever
since the crime OF 1873. The demone-
tszation Of silver, accomplished under
the cover of a resumption OF specie
payments. was soon discovered TO be
a curtailment by one-half of the nat
urai money resources Of the people
Suddenly cramped from the plethora
of paper money into the limits Of the
gold supply alone. business disaster
and ruin stared the country in the
face. and a rigid enforcement of II
would have bankrupted every inter.
est in il. This was only partially
averted bv the successful attacks OF
the democracy upon the party in pow
er. in forcing the regular coinage OF
a certain quantity of silver from ISIS
20 1892. and then the total collapse
came. That squeezing which begar
in the outermost parts Of the country
has been narrowing its circle, unit
now New York admits that there j
not volume enough. Practically. tha
means there must be more volume
That is the pith and kernel Of tn
democratic platform Of 1896 spokel
through the business interests.
, During all the years which the east
feeling safe in the enforced inwar'
flood Of interests. laughed ut variou
moves made by the democrats for al
enlargement Of the money volume. oh
better sense OF the country saw tina
the men in the field were right an
Z the fears OF the men al the desks wer
Z wrong. Now il j. the men AT the desk
who cry out that there j. too muc
r business for the amount OF money
! that Their, must be relief.
5 To-day New York acknowledges tina
Z .the country has outgrown the vo
D ume Of money! The country ha
+ known this for over % years. and il
q New York which has been slow I
Z find II out. The raw material of III
south. Of the west and of the Fl
! Pacific states was just as valuabl
I twenty. ten. five years ago as now, bu
. the money volume has been congeste
I BY those Of the east. who felt tina
{ il they had enough there was no ret
! son for anyone else being in wan
Z Now the complaint is general. so ths
= even those who strayed away from th
q fold are forced TO acknowledge it,
: This OF the past Is used. howeve
= not for claiming superior foresight ;
E the expense Of others who were mi
: taken. but to point the true policy (
Z the future. This new and undevelope
country needs all the money il ca
7 get. Our people have not reached u
= point where they can be divided int
T two classes-usurers aud debtor
q They are all in the pioneer stag
a where no man can afford TO wri
: RETIRED across his brow. but whe
I everyone is animated by the prospec
in view to keep up his activity. '
i need the full volume of money while
I nature and Providence give ms. IL
: now the business interests themselv
: which call out for this, and no temp
rary makeshift of bond redempti'
can cure the evil.
Take the shackles off the money Ct
culation and leave il free, under bu
ness conditions. TO adjust itself. II
governments seal supplied. the peor
can do the rest.-Atlanta Constit
4;or