The Winslow mail., 1900-06-28
THE MONEY QUESTION.
instead of Being Dead 1t Is Now
More Alive Than
Ever.

tlnaclous way of manifesting itself as
corpse. The eastern press in COM
mon with that of the middle west and
west is very much exercised over the
expenditures of public money made in
the last three years. In round num-
bers the amount equals 81, 100000,
excluding the last three months of the
last fiscal year. The ascertainable
data from official sources are as fol-
lows:
Fiscal Year Expenditures
!S9S ......................... $43S, ,S19,214 54
1900 (nine months5 SS2,S61, $50 95
Total ........................$ 81, 416, 1921 "a
This is alarming, and when we con-
slider that the total amount of these
expenditures, wrung from the people
by taxation, exceeds by several hun
dred millions the total amount of the
balance of trade il our favor for the
same period of time, it is easy to un-
derstand why that balance of trade
has not benefited us financially, why
we are compelled to resort to credit
money, and why the creation of
money or its simulacrum has been
turned over to the banks to provide
Us with a medium of exchange suf-
ticient to carry on any business at all.
Hon. Marriott Brosius, a republican
member of congress from Pennsylva-
mia, is a man who looks at figures,
and says figures do not lie." He and
all his republican confreres do not see
the lies behind the figures. In a
speech in the house on May 3, he
gives some figures which are included
here and should be added to those
set forth in the preceding paragraph
so that the reader may judge of our
deplorable financial condition. He
says: "The refunding provisions of
the law are working out an achieve
ment in finances without a parallel
in the history of the world" and he
submits the following official state
ment:
Amount Saving Premium Net
refunded. in int. paid. saving.
1908 $50, 200 $5,OSo Ais So, ,465, ,5S7 81, 1,614S2S
Fours,
1907 1885, 7s17 200 %, ,99S 1863 1882, ,sO6 4,476e63
1904 4O,239,S5O 4,69Sn 4,O46,S7S 572,96S
$780, O2O $50 $32, 500 225 $26 O34 I'll sc, ,664 Asa
Mr.. Brosius is as near correct as it
is possible for an able fnancier be-
longing to the republican party to
be, which nearness to the truth con-
sists in getting as far away from it
as possible.
There is not only not saving in
the above official transaction, but a
dead loss of $SS, ,439, ,761, and here are
the figures to demonstrate it.
Two hundred and sixty million,
twenty thousand and seven hundred
and fifty dollars to run until 1909
lsay ten years. at an average inter
est of four per cent. per annum, would
demand in interest S93 3.607, AGO.
But this principal has been convert
ed into 3O-year bonds bearing two per
cent interest. A total interest for the
80 years amounting to $156,O12, ,450
To this add the premium paid, $780,
034,771, and we have a grand total.
of $1S2 ,O47,2 ,221. Subtracting the $685.,
607, 400 interest cancelled on the re-
funded principal, and we have a total
net dead loss of $SS, ,439, ,761, or Sc, ,947,-
992 per annum.
Taking the entire national debt as
refunded, and including about $780,
100000 in premiums paid to bond hold
ers, and we have total dead loss,
Or a robbery of the people, by this
unparalleled achievement in finance"
amounting to $16O,OOO,OOO, or five and
one-third millions of dollars annually
1t is not necessary to indicate who
receives the benefit of this public
plumber
We are in the curious position of
force himself into bankruptcy and dis
turb the financial condition of his
creditors. Nobody but an able finan-
cier, devoted heart and soul to the
Mckinley problem of government,
could ever imagine such paradox.
Yet it is true. The issue of the ma
tional banks is based upon the public
bonds, and if they are withdrawn
there is nothing upon which to rest
national bank notes, and they also
would have to be withdrawn from cir
culation, which would deprive the
country of the necessary medium of
exchange to transact it's business, and
would also deprive the banks, com
bines and money lenders of the dou
BILE interest which they are now re-
ceiving. When the matter is care
fully thought over it will appear that
the money question, instead of being
dead, is more alive than ever before
in the history of the country