The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1900-09-26
CuriOsitieS of Finance.

tract from the editorial columns of
'ne New York Financial Chronicle
winch iamented the collapse of the
industrial boom in this country and
ascrlbed it to Organism In its
correspondence from abroad, which
ls tact and not fiction, we showed
tnat European countries. DESPITE
tneir gold standard, were in a very
cr't'cal financial condition and yet no.
one outside lunatic asylum would
ascrlbe these monetary disturbances
TO "Bryanism" " The PhiIadelDbis
fress. in it's editorial trade review. of
last Monday. says:
~" nile there has been a pause in
trade here matters are worse abroad
Germany has had devastating panic
snd is going through that "dry rot"
!a'' 10 quotations which is more try
,,ng tnan crash. In Paris the exit
oition has failed, and the conse.
quences may be serious. England
races most serious difficulties in an
increasing debt, decreasing gold
supply, falling railroad dividends
and deficit in government postsI
0OO."
IL Is common cry, in certain
quarters. that Bryau's predictions in
1896 had been falsified One mair
contention of bis was amply vind;.
Gated, namely that prosperity could
only come by an increase in the
quantity Of money in circulation.
lhat increase, outside the govern.
ment expenditures for war msterial,
came in the shape OF gold products.
winch neither party, in 1896, could
1oresee No matter how the in.
crease came. it arrived and with it.
LOT some months, the prosperity 10
business such az we had. As the
product diminished so did business
slump
But what we chiefly started out 10
demonstrate was the sbsurdity of the
Financial Chronicles declaration that
the receding tide of business speca.
latlon and exploitation in this coun-
try came from "Erranism The
same cause relatively that compelled
declining prosperity in the United
states also operated disastrousIy in
Europe. where Organism" is not, in
auy sense, factor.
Meanwhile the Baltimore Manufac.
turer's Record, which has a pleasant
trend toward Mexico just now, pub.
llsbes letter from our sister repub.
llc reciting its prosperous condition
Here is significant paragraph:
"There has not been an enterprise
started here in the pas, ten years
that was properly managed but whs.
has paid over 20 per cent on the
capital invested. 1t can't be other.
wise. as most of them are exempt
from federal, state and municipal
taxes. As the duty on the class of
goods that they manufacture ia high.
they sell their goods from oue-half &c
cent pound less than the import.
ed goods |; hence their profits are
enormous
1t appears that while some of ou,
gold standard American capitalists iu
eastern states ore denouncing 1.-The
dishonest silver dollar" and clsmor.
ing for "sound currency" they are
investing their money iu Mexico
which does not pretend to be q.
blmetallic but silver country. Tired
OF hunting four per cent safe invest.
ments at home, they are chasing after
~ per cent ones in Mexico. With
one breath. they sneer at the Mexican
system OF finance and, with another
breath, they congratulate themselves
that silver country is near at hand
for 20 per cent profits If Mexico
can 80 greatly prosper on q single
silver basis, why should not the
United States, in every way so supe.
rior, in population. energy. wealth
and civilization, prosper on the doc.
bic standard of both gold and silver
with free coinage !?
VI course, imperialism is the para.
mount issue. in this campaign, but i.
is rather odd that Mexico should Just
now be an El Dorado for American
and European investment. As Bryan
said about the British and German
loans taken in this county, eff we
are 80 nightly prosperous why don't
onr moneyed men invest at home 10
stead of sending their money
abroad" Aud what is British and
German loan at 4 per cent to q Mexi.
can investment of 20 per cent ?-Au.
gusta CHI onicle