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

Not long ago We published an e1-
tract from the editorial columns Of
the New York Financial Chronicle
which lamented the collapse of the
Industrial boom in this country and
ascribed it to Organism " In its
correspondence from abroad, which
ls fact and not fiction, we showed
that European countries. despite
their gold standard, were in a very
critical financial condition and yet &c.
one outside a lunatic asylum would
ascribe these monetary disturbances
to Organism - The Pniladelpbia
Press, in it's editorial trade review, of
lasl Monday, says:
"While there has been a pause in
trade here matters are worse abroad
Germany has had devastating panic
and is going through that "dry rot''
fall in quotations which is more try
ing than crash In Paris the exit
bition has failed, and the conse-
quences may be serious England
faces most serious difficulties in az
increasing debt, decreasing gold
supply, falling railroad dividends
and deficit in government posta!
savings banks which reaches $2,5lc..
OOO.'
1t is common cry, in certain
quarters, that Bryaus predictions in
1856 had been falsi6ed One maic
contention of bis was amply vind;-
Gated, namely that prosperity could
only cone by an increase in the
quantity of money in circulation
That increase, outside the govern
ment expenditures for war msteria!.
came in the shape OF gold products.
which neither party, in 1896. cou'c
foresee No matter how the in-
crease came. it arrived and with it.
Tor some months, the prosperity ic
business such as we had. As the
product diminished so did business
slump
But what we chiefly started out to
demonstrate was the absurdity of the
Financial Chronicles declaration that
the recedipg tide of business specu.
lat:on aud exploitation in this coun-
try came from 'Bryanism The
same cause relatively that compelled
declining prosperity in the United
States also operated disastrousIy in
Europe, where "Bryauism" is not, IL
auy sense, factor
Meanwhile the Baltimore Manufac-
turer's Record, which has pleasant
trend toward Mexico just now, pub.
lishes letter from our sister repub.
lie recitiDg its prosperous condition
Here is significant paragraph:
'tThere has NOT been an enterprise
started here in the past ten years
that was properly managed but what
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 municipa;
taxes. As the duty on the class Of
goods that they manufacture is high,
they sell their goods from one-half &c
a cent q pound less than the import
ed goods hence their profits are
enormous .
1t appears that while some of ou:
gold standard American capitalists il
eastern states are denouncipg 1.-The
dishoues. silver dollar" and clamoT-
ing for "sound currency" they are
investing their money in Mexico
waich does not pretend to be a
bimetallic but silver country. Tired
of hunting four per cent safe invest
ments at home, they are chasing after
20 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 haoc
fox 20 per cent profits If Mexico
Can so greatly prosper on q single
silver basis, Why should not the
United States, IN every way 80 supe'
rior, in population, energy. weal's
and civilization, prosper on the doc
bic standard of both gold and silver
with free coinage
OF course, imperialism is the para
mount issue in this campaign, but it
is rather odd that Mexico should just
now be an E. Dorado for Americsc
and European Investment. As Bryan
said about the British and German
loans taken in this county, "if we
are 80 nightly prosperous why don;
onr moueyed men invest at home 10
stead of sending their money
abroad" And what is a British ane
German loan at 4 per cent to Mexi-
can investment of 20 per cent !-Au-
gnsta Chronicle
IL