The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-16
WHERE THE MONEY is NEEDED.

WuLNL I'LL WVtvLl Id lVLLULVs
chscsgo, April ABSTAIN Specially -Ry
the courtesy Of Mr.. L. II. George Of Boston
] have been permittsd to read advance
ahsets Of hts new book. entitled, Inter
visws with Business Mem" ana 70 use ana
a his very interesting chapters. ~ follows:
IN one Of my many talks with Mr.. X.
one ~ Boston's most suocsssful business
men. the following conservation took place,
'Hcw doss tho present condition at husi-
nsss strike ycus" inquired. II have Just
len some woeien men who are agreed that
business was never 90 bad, or prices 50
low. Net = cant Of proht In II, they cay
II you remember. told you two years
ago that this condition Of things would take
place II We did aot expand our currency, |
but you thrsatened to move out OF the
country IL that was done. and remarked
that 'siiver was trash, Nothlng could DO
worse than tho preseuk state OF trade, IL
tho cotton and wooden mems account OF
trade can be taken. Now. ! tell you. Mr..
X, when you Join tho Boston silver club.
and through that demand and obtain an
expansion OF the Nations currency SUIT
hcient to enable the people 70 do business
for cash and to sustain prices to pront-
paying point. YOU and everybody else will
have business, and business that will BIO
worthy the name Of business. But every
man see today Is in state OF deep dis
gust with the condition OF things
~
| Ia. thsatyh All
It has not done us very much good; busi-
ness Ia worse today than ono year ago
give It up; 1 don't know what the matter
10. Guess we have too many people In tne
business, don't believe anyone knows
what the cause Is. We are not doing any
thing in our line; prices are SO low we
can't accept the orders" And, with sigh,
this financer lit a fresh cigar.
WELL" l replied, III we had more
money In circulation, you could get higher
! prices"
ooh, don't talk thai stun to met" he
pettishiy exclaimed, I'VE have money
rottipg In our banks that We can't use,
That mcre-money talk Is too silly TO be
entertained for a moment
. "But you know that trusts are the OUT
J come Of low prices, and low prices result
from small volume OF money, do you not?'
said |.
"Wenn said he. "suppose trusts do come
|, as result Of low prices, don't the people
want low prlces7 And are not trusts good
.hingsqh
well think we shall get our NIL o!
trusts pretty soon You will find that the
trusts will run this government some BIG
fine morning, II they don't already, said l.
"oh. rot | have heard that for the
past ave years. That is Bryanlsm and
Wild West talk"
0 You will nnd, however that II will
come, and that YOU and your business VIII
be ground 10 powder by the very thinY
a YOU are upholdins, ] know something
about this power In the grasp OF the
= trusts. The STANDARD OIL the sugar, The
ties-are squeezing the life out OF small
sr concerns"
How about this war;" he asked.
% "oh, the war Ia all right II It were moi
70 for tho war there is no telling what would
i, happen. You must remember, Mr., r.,
that the government Is spending from one
10 10 two millions OF dollars day. Why
lust think of the effect which that none,
" must have in sustaining prices. Think o
tho mills and factories and furnaces which
u that money Is running, day and night, OF
government orders, And yet, just think Of
~ It. with all this unwonted outflow OF
70 money from this unexpected source, gen
eral business IS still terribly hard. ~ v
70 keeps on getting worse, we shall all BIZ
"A compelled TO work for the government oil
" starve. Unless this government gives The
IN people relief through larger volume o.
"a money, we shall sink 70 tho level OF llu'
NJ ropean countries and our 9eopie become
"a illitorate, paupcrized and crimlnhltGed,
" what IL the use OF moro money Mr.
N K. asked. we have money eaough. Ny
" bank offers to lend me all want AZ psi
N cent"
N "That Ia always the case, l replied
when prices are low as result OF to-
W limited curroncy--,tho effect being tina
N production ceases. mills shut down. an
70 having no further use for their money 10
pay rolls they deposit 1t in the banks, an
y, NJ soon the accumulations are so great tina
the bank reduces its rates of discount, |
induce loans This Is why you can Sc
10 money for per cent, and why there is %
much money In the bank as We say
10 But tho bank is the wrong place for money
to make business good; II should be IN tn
10 peoples pockets, TO enable them TO bu
goods and start up the mills Now, 20
90 must sec, Mr.. X. that this brings US bac
10 the first cause. which, as affirm, wa
DO the limited amount OF money in ciroulatlo
aud consequent low prices, from which al
90 our miseries flow, You know that We use
90 TO get from 800 10 700 per cent more 10
= goods than we do today; and you also kno'
90 that then we had from 400 TO 100 per Gel
a. more money IN circulation than we hay
r today. This is not mere coincidence
st All down through history, this law OF th
si relationship OF volume OF money aud price
IN has been recognized by Asl financial writer
az OF repute | can show you by irreiutab
y facts, by price lists and mems statements
ne men who are living today--that goods WEI
w. several hundred per cent higher than the
p are today, and that, at that time. OF
- volume OF currency was Ave times as lare
per capita as It is today"
oh that Is falsel" he exclaimed. eth
United States official reports show tn;
we have as large volume OF money no
| l..t.. lana