The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-08-03

tory, the lGSSened wages ana inc
unemployment Of millions, the
burden Of carrying the individual,
the state and the national bonded
Indebtedness has been largely more
than doubled. It Will take far
more than twice as much cot
ton and wheat and corn and other
products of labor to pay the in
terest on this bonded Indebtedness,
and eventually to wipe it out, as
would have been required under
the prices which prevailed for
products and labor at the time the
Indebtedness was incurred.
You will no doubt recall the
statement made by President Lin
coin when he said that debts are
paid honestly only when they are
paid in the same terms Of value
under which they were contract
ed The terms under which our
bonded Indebtedness was con-
tracted were terms Of high wages,
and high value Of farm products
and Of manufactured products
The breaking down OF wages and
Of products has dishonesty doub
led the burden Of this Indebtedness
and all the sopnistry Of al the po-
litical economists in the world who
may argue otherwise cannot pos
sibly change this situation.
: We are asking a man who has
been deliberately starved unto O.
point Of extreme weakness to carry
the same load which he could cas-
lily shoulder when he was abund-
antly nourished with food. We
are asking the country to defiate
and debate to a point where it is
absolutely impossible for it to carry
the load under which it is stag
gering unless the food supply OF
credit is promptly furnished, and
the financial medical authorities
who have enforced this starvation
process are entirely eliminated
from the situation.
On July "A Comptroller Of the
Currency Crissinger before the
bankers of Ohio, said:
Experience has shown US no
time when the conjunction Of low
prices for commodities and labor
with nigh cost Off money brought
anything but disaster to the
people.
eve will be wise to remember
that falling prices and high inter-
est rates are never the twin sisters
Of prosperity.
"High interest rates and pros
perity were never bcd-felloNs.'
And with an emphasis which
needs to be needed throughout the
country he said:
IF that be financial heresy, or
economic treason, make the most
Of it.
Mr.. Crlssinger's statements
since he has been Comptroller
have given heart to the country
and helped to bring about little
stimulation in the anticipation
that business food would yet be
supplied But the men who cut
off the supply Of food, the men
who sought to wreck banks be-
cause they did no place them
selves unnder their domination, the
men responsible for the amazing
decision Of the Supreme Court,
which referred to this work as
warfare upon State institutions,
are still in power, and the country,
therefore, still lacks full faith in
receiving the nourishing food es-
sential to its life SO lons as these
men are in a position to cut short
the supply whenever in their view
they may decide in secret to Go
so.
With very great respect, with a
sincere appreciation Of the many
responsibilities resting upon you,
and an apprecaion Of the conse-
Grafton which you are giving in
your effors to lead the country out
of the chaos in which you found 1t.
I am,
Sincerely yours,
RICHARD II. EDMONDS.
Nation