The weekly true Democrat. (Tallahassee, Fla.) 1905-1912, 1907-11-15
HOARDED MONEY
CAUSE OF STRESS.
Aaenate Says Quickest Way 20 Restore
Confidence Is to DepOSit Money.


Confidence Is to DepOSit Money.
A st. Paul dispatch, of the first of
the week, gave out the following, which
speaks for itself, on the stringent money
subject
Not Wall street, but the individual
who is keeping his money boarded, is to
blame for the financial stress, according
to James j. Hill. To-day he gave the
st. Paul News and the correspondent
OF this paper a signed statement of his
views the first discussion he has given
to the public on the situationas fol-
lows
There is nothing in the actual bus-
ness conditions of the country to cause
or to account for the financial stress
now everywhere so severely felt. The
crops are good, and until money began
to disappear, prices were higher than
for many years. Buying and selling are
not interrupted. trade is active, BUSH
ness as a whole is sound at the core.
Neither is there an insufficient volume
of money in the, country. "A year ago
there was enough for all current needs.
The notion that Wall street has IN some
mysterious way absorbed 1t, has no
foundation. AS matter OF fact, the
stock transactions are only about half
what they were then, with prices great
~ reduced. Probably this requires only
from one-third 20 one-fourth of the
money that was needed last year. The
trouble clearly comes from the boarding
Of money; not by the few, but by the
many.
Investors both large and small feel
uncertain about the future Of business
enterprises, sound and unsOund alike.
From whatever source it may have
come, the impairment of public conf
dence is a real fact. 1t has already done
much damage. Il will do more unless
speedily corrected. This popular dis
trust, as far as it leads 10 the boarding
OF cash, is as foolish as IL is hurtful
The people should put an end TO II by
releasing the money whose withdrawal
from actual circulation means business
starvation The heavy financial inter
ests Of the country are doing theirpart.
The people must put away misgiyings
and do theirs, and the present crisis
will end.
"Alarmist publications have done
much to spread and intensity the dis
| trust The consequences bear most
| hardly upon the farmer, The fruits of
a years labor are now just gathered,
ready for the market. He has the foCd
supply ready, and the world needs and
is able TO purchase il. But the move
ment from producer to consumer re-
quros the use of both money and credit.
The farmer, who is the foundation of
all prosperity, and whose loss or gain
affects the state of all other industries,
loses "A large percentage Of the value OF
every bushel Of his wheat and oats and
barley, of every pound of butter and of
live stock that ne has to sell.
at is this which makes the present
situation such hardship and injury to
the whole community. For, If the cui-
tiyators of the soil suffer, no business
will escape. The best and quickest rem
edy is for every man who is boarding
money to return 1t to Its usual employ
ment. 1t is he who is doing the mis-
chief As has been seen, the money is
in the country, but it must be made
available 1t is as much the duty of
every citizen to deposit all his surplus
cash in the banks, which are entirely
sound and solvent, as it would be 70
subscribe TO q war loan. In this way
will money be put into circulation and
the financial institutions Of the country
be enabled 10 make the advances with
out which business cannot be done.