The Houma courier. (Houma, La.) 1878-1939, 1900-07-14
MONEY sTnL An ISSUE.
Instead OF Beins Dead u m uoe
Mote Alive Than
Ever.

bers the amount equals $1,5O0,O00,O0Os
excluding the last three months Of the
last fiscal year. The ascertainable
data from official sources are as fol-
lows:
Fiscal Year. Expenditures.
l696 f58,olS,M4 q
1899 605.0l21B $
300 mine months) ............. SIz.S6l8S2 s.
Total .....~.............A,n6758.z IN 81
This is alarming, and when we con-
slider that the total amount Of these
expenditures, wrung from the people
by taxation, exceeds by several hum
bred millions the total amount Of the
balance of trade in our favor for the
same period of time, it is easy to UNI
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 it's ~simulaerum has been
turned over to the banks to provide
us with a medium of exchange suf-
fcient to carry on any business at all.
Hon. Marriott Brosius, a republican
member of congress from P~ennsylva-
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: 1.-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.
1903 Sso,sa9.aoO s5,O8o.415 s8,4s5,5a %1,sl4,sas
iS@ 158. 7s1.7Oo 22.s98.ss9 1s,522.sOs 4.47s.sss
iSSI N.28s.85O 4,sl9,sn 4.O4s,s7s 5zs,ss8
$500 2O.7 80 $50, sg8, 225 &26,O84T1 88,664454
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 a saving in.
the above official transaction, but 8
dead loss Of sss.439,76t, and here are
the figures to demonstrate Il.
Two hundred and sixty million,
twenty thousand and seven hundred
and fifty dollars to run until 1909
(say ten years. at an average inter
est of four per cent, per annum, would
demand in interest s93.607, 400.
But this principal has been convert
ed into 9O-year bonds bearing two per
cent. inteSest. A total interest for the
80 years amounting to $156,O12,4 $50.
To this add the premium paid, $685.
034,771, and we have a grand total
Of $1s2, 047, 221. Subtracting the $685.
6O7,46O interest cancelled on the re-
funded principal, and we have a total
net dead loss of 1884, ,761, or $780,
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 a total dead loss,
OF q robbery of the people, by this
unparalleled achievement in finance"
amounting to $4,000 1000, OF 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
a man afraid to pay his debts lest he
force himself into bankruptcy and dis
turb the financial condition of his
creditors. Nobody but an able inan-
eier, devoted heart and soul to the
Mckinley problem of government,
could ever imagine such a 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 its 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.