Greene County herald. (Leakesville, Miss.) 1898-current, 1907-11-22
SOME THOUGHTS ABOUT THE
MONEY STRINGENCY.

Its with pleasure that we yield
space for the production of an article
OF strength on that now interesting
topic, the money furry. This con-
tribution is from the pen of Hon. Dan
Mcleod, Representative, whose
long experience in matters of public
concern, and ripe years; has made
him a thinker entitled to respectful
and considerable hearing. While we
do not see quite SO much as he in
this Political Play as the principal
cause for the present disrupting of
our nation S financial system, yet we
are glad that he has selected that
feature of it to elaborate upon, know
ing his competency to properly
handle. We admit it to be one OF
the strongest contributing factors
to the paralytical stroke which struck
the commercial world a few weeks
back, but our study of the situation
persuades us that there are others
that bear perhaps not fully equal but
correlative parts to the same. Fore
most among these is the failure of
our currency to expand at the pace
in which the actual earned wealth oil
the country has increased. The i'm
menSe resources of this rich land OF
ours have been being converted into
money, or what should have been
being converted into money to repre-
sent the added wealth of The nation
in the place of the net labour and re-
sources yielded up, but the coinage
importation have been inadequate to
the situation, just as the railroads
have been inadequate to furnish the
rolling stock and transportation for
this colossal industrial movage.
Labour has been inadequate to meet
the demands. Transportation has
been inadequate. Brain has been in
adequate. In all reasonable cOncluS-
ion the financial inadequacy was an
inevitable sequence. The treasury
department of our government has re
cOgnized this and put its minis to
running night and day hoping to in
crease the output sufficient to catch
up with the behindage. The money
marts of Europe have recognized and
are pouring their gold with a rush
into America to fetch out our com
modities to their distant shores. Fol
every dollar of product that passes
from out of or about into this
country, their should be brought OF
created its corresponding representa-
tive in actual monev TO stand for the
wealth that has been created. Other
wise these tremendous resources thai
we develop are but chlmeras. They
are converted from the raw crude un
disable inho the manufactured
marketable commodity and ate
their consumption or exhaustion for
ever cease to be, but in their plac,
should be left permanent contribu
ton to the riches of the region of tn
globe from which they sprang N
other or substituted monetary sys
TEN is stable. The work that you
hands or brain does today brother
over and above the cost of its furni
shing which would presume a reck
onging of food and clothing ant
other costs of living for a reduction
is a lasting contribution either il
actual money or its equivalent, t.
the wealth of the world unless waste(
in wars, cataclySms or other losses
There are other potential factor
that have bourne on our none to-
elastic currency at this time, whicl
this article must be far too short t.
even sweepin2ly alluded to. Dis
cussion of these several factors Cal
but acquaint us better with the af
fairs which should lie next to tn
heart of every good and true Ameri
can. The HERALD rejoices and vii
further rejoice to be in truth /
herald of such discussions.