The Savannah morning news., 1902-10-06
BY PAUL DANDY.

If the two billions of dollars, at
which the most conservative experts
value this years record breaking
crops, were to be paid in silver coin,
the round disks of white metal required
would fill 1000 freight cars, each hold
ing million dollars, Weighing thirty
tons. The weight of the entire pay
ment would be $4,000 tons, and it would
take a hundred locomotives to haul 1t
in as many twenty-car trains. The
train crews would number at least 500
men, and several regiments of troops
would be needed to guard the bulky
treasure during it's transit from the
mint to the farmers.
The picture thus brought before the
imagination illustrates the difference
between the ancient and the modern
systems of agriculture, of transporta-
ton of money and of exchange. Even
so late as a half century ago no coun-
try in the world was capable of pro-
ducing any such unthinkably vast
crops, and, even had they been pro-
duced, they would have been unavail-
able, because it would have been i'm
possible either to move them to the
consumers or to provide the money
TO pay for them. Back in the days
when coin was the only money, the
transportation by sea of enough cash
in silver to pay for this years crops
would have employed a flotilla of sail
ing vessels. while it's land transporta-
ton would have been a big task FOR
hundred caravans. Even in gold
its weight would be 1000 tons and ii
would have taken at least that num-
Der of teams of oxen or horses to
haul it over the rude roads that were
then the best highways
To-day the chief problem furnished
by the great crops is their transporta-
ton. The paying for them is COM
paratively easy Through the work.
ing of the modern credit system, no
where so well-developed as in the
United States, there is always a mucn
smaller movement of actual money in
handling the crops than might he
supposed; drafts, checks and other
commercial paper representing cash
being passed back and forth in lieu
Of the veritable notes and coin, YET
Notwithstanding this convenient sys-
tenn Their is large and steady BUST
ness done in the transportati ton OF
actual money. Commercial paper is
all right for exchange, but actual cash
mas often to be used in settling bal
dHCeS between banks and ii is also
needed for the payment Of wages and
for small purchases. Because Of a
well understood commercial law the
currency in circulation away from the
commercial centers has a constant
tendency to accumulate in those CEN
tiers. from which 1t must be redis-
tributed in order to be available for
its ordained work. This redistribution
is going on continuously but is much
HEAVIER in the spring and fall than al
other times, the movement being from
the east to the west and the south in
the spring to furnish the farmers and
planters with currency to pay wages
during the planting season and in the
fall to pay for the harvesting of the
crops planted in the spring.
The transportation of money this fall
began some weeks ago and will con-
tinue several months to come. While
those who know do not like to give out
information in detail, there Is no doubt
as to the magnitude of this years ship
ments.
Western Money Working East
1t is true that the deposits in the
banks of the interior are larger now !
than ever before and this has led some
to suppose that the currency to handle 4,
the crops could be provided largely by !
the banks upon the ground. But many
Of these banks have sent their cur !
rency east in great quantities-as de-
posits in the New York banks--in order +.
that it might earn an income by being
loaned out in Wall street and else |
Shere, and now it must be shipped