The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1908-04-01

ness Texas alone is bigger thar
France. and yet no one has ever hear,
that France was suffering from toe
much money.
80 Who warts I, iiicreay- "ul
'ln,punt money? A. Everybody. II
seems. Through the .pr.a.'hing O!
Democrats and P'pulsts. Wall street
has sven hten appart ntly converte |. =.
the QueEtitatlve theory Of money, and
to the necessity Of more money The
dragon of Wall street :dolatry has
fallen down and broken off its
head before the Dem )cra,:c ark OF
truth.
"a. What are the plans to in
crease our currency? A.--Mr. AL
drich has plan to allow national
banks to issue up t. $500. 900, 900 Of
bank notes secured by railroad, city
or founty bords. the banks to pay /:
per cent Year taxes m the notes
Mr.. Fcwlcr's plan is &. dcstr.N our
present bank notes and other paI.cr;
TO allow the National banks to { .rn.
a combine and to issue psrLr mc,Wy
at their pleasure. with general bank
sss'ets as security. The banks 20 pay
rel cent on this paper, but the y,y.
ernmcnt Is t. have no Authority as
t. wh"n tho mtn''y Is I" be issued, nor
how inu'h. This wculG turn The is
SIT Il r"ney ever e. the tankers.
IS; What was the Ocala Populist
subtreasury scheme, and how does It
differ fr,rr Mr.. Fowlers plan? A.
The S',pu,ists d:man.ltd a sui.;re.,s-
ury where farmers could put up thcii
cotton. tobacco. corn, wheat Cor ware :
horse rccripts f,r s;,me) and get
money from the Government. The
difference IL that Populists wanted
the Government ts Issue money with
farm products as security. AMI Mr.
Fowler's folks want the money, wh,n
and where. AMI as much as they
Please. with general bank asset. Az
security. Of which assets warehouse
receipts for farm products ar ufter
chief.
80. Why should the government
transfer It's power t. issue monty to u
combine Of bankers? A.-Th ere is
no reason except to favor the bank
trs and u admit the gov.ra,nert'. IN
/. flicicncy,
81. Can m ,ney secured ty bank
assets bc any better than money sc
cured by government assets' A..
No. The governments taxing power
Ia the strongest asset in the world.
Through 1t ev ,ry dollar in thu coun-
try stands god for every d.lIsr is.
sued by the government.
30. Cart the government be as
wise IN the bankers. and know a.
well the country's need.? 4 II
surely can. And {" put the ISSUE ~
moncy Of this great country un:er
control of . coterie Of bankers would
he ah,ut as gr Eat q calamity a., ~ put
cur tSxiag powers into, the handx OF
. king. II the king aud the bankers
would rever dc wrong 1, wonld be
we'll. but there 10 no guarantee against
that inh:mity and greed whtrh power
20 often develops. wro w,uld S'ote
to Hive our taxing pew r avei t. John
w. Gates? None. Then none .homl {,
vote to turn our money issues over to
Nr. Fowler or his allies Let the n.
gress spurn. like Hercules. this road
TO wreck and ruin and grasp anew
for the people Krod the power givcr
by the constitution to coin and is
sue n. ,ney direct for The public well
fare.
80. What IL an elastic currency" Z"
Alt Ia ore that IAN he >tretcheT in
or OFT 70 suit somebody's notion a,ur
first elastic currency was th. R.>.lu
tionaIy scrip issue In quantities to-
pay soldiers who fought for our inde-
pendence from 1875 1881. Our next
was s4so. 100000 in greenbacks. from
1852 to 1855. to pay federal soldiers
to whip the South. We have $685.
100000 Of It still In coed use-thous!l
oft decried and cursed by Wall street
Next abe ut $2s.oo0.000 in gre"nba.k
was isned after the panic Of 1873 tn
help restore confidence. Not NE OF
these elastic issues was ever greater
blessing than the $1,000. .000.oy0 OF
gold which God sert us from the
mines since 1896. wher none but nm.
archists. Populists and Democrats
We uld dare assert our need for more
money. We med a steadily growing
currency far mcrc than an elastic
curreLcy. II we Want an elestIc cur
rency system We had better MAX
snra that M, ySeonle kea., ,annS IN