The watchman and southron. (Sumter, S.C.) 1881-1930, April 01, 1908, Image 7
AlOIOi HONEY NKKDKD
ma Tmvu 1st Ka*y c.tteeiikuu
By Konh W. Coooer.
What la the money problem?
rar.?It la the question as t > how"
im n.onvy the country n*?d?.
It MM t? have, and who shall con
It
>. Who has authority to Isjus mon
A ?Tha congreas; It m*y cola
*>ut SjJ metal make tt out of
01 allow bank a or other a to la
money.
What kinds of money have we
(I A.?Coin and paper. k%f paper
l?e la irreenback. aflver certin
?aM oertmeates, national bank
and treasury notes.
What Is greenback ? A.?All
aeoney Is commonly called
ihaek. hut rml greenback la th?*
oat of paper dart ur the
war a* pay soldiers,
a. What ?a flat rnorey? A.?
decree, and strictly speak
ari money is flat money became
my the govern mart. But us
flatt money ?* Xary money which
ae metal or papev. af.ill not
the vale* stamped on It
Whai la legal tender? A.?It
can lores anoth?r I? iuk?*
it of debt ?
1. la all our mom y legnl c-m^-r?
i^Yeej erfih same exceptions
Whi freeel ark 1e?t as s>?t?f tj
dahte vnth as*gold? A - Ves
asV'W arveh money Is In vlrvulut
~ ht'the Unit.* Mates? A.?*l>
.tt-t.ct* ?? Jan. l. rtoi. Ti.is In?
tel la eenas sad oat. In hid lug
eat, diNl tease that'a lesr?
Haw mash hare art per eapl
? A,?144.41 at highest eetlmate.
U. Haw much )a?M are t* have'*
p**, rei4ia at irv;
Why? A. noes we ^ur wea
m heel n aas and po su?
it
money hscreased In
to hnaiwase? A.?-It has
It. flhow esherem tt haanot? A.?
11$H the hanks ef this eouo'iy ? er?
I flipianiu tt.Mi.eee.ees. in net
L hsaahs eared sVpssttors 111.1**..
mjmPX lw?aWwsaa lneraass in busi
(pse* m few eetst sa sen yo?rs. for)
ate a fair m?a??re of
Now la lite we
ftp eaaaey. Ml ear capita, la
It** If! per capita; aa tatre?*? ef
eaatr it flaw oeev in sneney mhae with
itflh) pee rewt huraaes hi toteine**
%m. Haw weald we report a aiaa
wheoo total settle Has tossed lie aer
asataf. ashl "|Pt who sehe mere teed Ihrle
.O)aftfM0t| Isar eeit?, A? As ? .aap
V *"*.*< It would he Has -iwreasr%?
tstp oskge aptse J to ?? astd I nerves lag
Sem to 9 peeks a shy for I cows.
If* Orrs another llksstiatma ? A.?
Oar eaaorts lacreas?! freenMlil.oee.
OX-t as tta te $i.744.tee.eee in ittt.
er Itt per eesst Oar hash eWarlnga
tsmraaaei jfrepa 161.000.000.0*0 la
s|M4 to |lff.taa\ttt.tte la lttt. c
??#> *ar cehC Here la aa lncreass of
? atC hew eeed la exports; SOS per ce nt
hsreaase sa / aaah eVrarings, aad only
?t par eesst la ere ass ta aaostey. This
0 It a had esaetflasi. On bee. I ltei.
sVaaedeast Heoaofsll aatd to ccuxr* ss
J^Smm ewtreaaw of the country ?h'?.ild
^mw sende wapnaotvo sc the d. mandn
mi mm deeae>tk trade and >?m
?.'? This Is exactly what Perm?
siad DemoeratM hare d* .lu ded
assay reit?, sad what the bonks
Wall street are how at las* de
Whit haptene to a nstior.
_ volume of money does not
grew ween tte roteme ot business? A.
~~- bank aad businew faIIurea.
ttaaea. It alee breed*, fretailed
who hatch out schemes to
mmt ecsitrot of the governarsnt's money
ekpppir
It. Mow much, property la there
. to the United atites to each per
I asm. If equally divided' A?About
IMtt,
I It. What la the total debt hurl en
(tpjsn eaeh person? A.?Our natirnal
V?skt is 11 44 per cantta; our State
<Tsnnessee> debt is II; our county
(Davidson) debt 's 17 per capita, our
elCy <Naah%llU) debt Is 110 per cap
our railroad debt Is 1100 per
eaplta our other dabts. mortgages
lad Ifen? about ttl per capita AI?
I - we have an average debt
of about $100 each per ?on.
young or old. or ar. overage debt of
II. see mnr fan dry.
t#. Coull ail >ur dobti ! ?> i aid In
Oash at one*.? A?No; njr total
A asoney ss tl.t7l.0tt.t00. Out total
w^tlebta over 114.000.000.000 For every
' dollar of debt we hsvs about 10 cents
hv eash; foi every dollsr In prop r\\
about I cent* In oash; for every dol?
lar ef hank sschsnges abou* 1 cants
' ha caah. If we were to give all our
money to the railroads'and go broke
rthey would not have half enough to
pay off the ll.000.000.000.000 debt
?a them To expert our country, with
?Is lneuKk-lent currency, to run along
without a htteh Is llk-t tvrecttr.g to
haul aa elephant In s wheelbairow
without a tilt. We need more ?*h?ele
pader th ? wagon of trade.
II. How much money do our rs.ll
poads collect per year? A.?In 1??6
their groae receipts ware II.1U.000,
#00? that h to say. as much as two.
thirds of all our money.
22. What was the value of all our
'arm pr>ducts In 1S07 i A.?$?.4JtJ?
I 00.000. All our n oney together, nil
? hat the government has ever timde
In 118 y?ar.*. Is nit enough to pay for
"iie-naif of last yea*'a ?rop. It W>Ulr.
t ike It all for tho corn, hay cotton
and whe*t cop alone, n >t counting
all ether products.
23. i How ha.e we been gc.tlng
along with so little money? A.?We
have .had confidence In each other,
supplemented by due bills, notes,
checks and clearing h ? use certificates.
For Instance, during the last fb'c
months over $200,000,000 In clearing
house certificates were Issued HI e Mat
money, thought net near so gojd
More fla*. money was put Into circu?
lation in three months than free sli?
ver w-iuld have put In thr^e vears;
and yet It Is said by banks t ? hxvo
been a blessing. Our government has
made 56J.000.000 silver dollars In 11$
vears: our barks put out about half
this amount In clearing house cen fl
cates (worse, than flat greenback or
flat sliver) In tares months. In 1W4J
and 1900 we were tolld by Wall street
orators that flat money by the gov?
ernment was a calamity, a curje and
??crime; in 1*07 we were told by ihe
seme oritors that >Ut momy by
banks Is a great blosirg. H.>?v times
and men do change.
24. Has our money been always
steadily Increasing? A.--No. It ran
fron? I20.C7 per capita In 1865 to $17.
1? in 1171; to $21.62 in 188?. and to
It I.I 1 In 1901.
IK. What has the government done
since Iff5 to Increase our amnunt of I
money? A.?Almost nothing,? con
siderina^ur needs. Under the Bland
law It ^raa inoreaecd by about 498.-1
046.000 silver dollars from 1878 to I
lttO. and under the 8herman law of I
1*90 It was increased by about $40.
000,000 la treasury notes. The Bland
law was repealed by Repuoilcans In I
1890; the Sherman law by President
Cleveland In HIS. Save to encourage
the Issue of National banks that is ail
that has been done)
2?. How. ihau. hat our currency I
Increased In volum- f A.?By dlscov-1
ery of new sold mines. The free coin- I
age of silver was stopped In 187$, but
the free outnage of gold has never!
been stopped since the time of Andrew I
Jackson. Anybody can have gold
bullion coined Into money, and since I
1IM over f 1,900.000,000 in gold have
aeon coined. Mace we only hove . s
little over $8.000.000.00, all told. In I
the United Slates, It will be seen that
about one-third of sll oar money has I
rasa mads cut < f gold, and that since I
ISM. The government refused to I
stake snore greenback, as the Popu-1
lists dseaanded: refused to make more I
silver dotlara as the Democrats de-1
manded, bat Ood opened the aold
mines and relieved ue with s flood
of gold. Gold cams so fast that I
Comptroller Rtdgeley, In 1901. said It
was endangering our business: . In-1
stead of a silver flood a gold flood I
had come, he said, to drown us! In I
1190 Wall street satd more money I
would ruin ua We had enough I
Through this providential gold flood I
our money has Increased 50 per cent., I
and now (mlrablle dictu) there la I
a universal cry rbr more , and morel
money.
27f Whose claims have been vin- I
dicated? A.?The claims of Demo?
crats and Populists, and Mr. Bryan, in I
1890, that a great deal more money I
would be a blessing.
It. How much taxes do we pay]
per year? A.?We 'pay to the na- I
ttonal government $t.7t per capita;
to the State 91.10 per capita; to the
county (Davidson) $1.76 per capita,
to ths city (Nashville) 120 per cap?
ita; a total tax of about $10 per capi?
ta per year. It would take aM our
money to pay one year's taxes.
19. What Is our ratio of money to
bank deposits? A.?In 1900 at on.*
time the banks owed depositors a lit?
tle over $12.000,000.000?four times
as much as all our money. If tho
banks had had all our money In their
vaults they could only have paid to
each depesltor one-f Durth < f what hU
pass bock called for. Three-fjurtbs
of bank deposits arc checks or drafts,
and. of course, at any one time the
I
banks could only pay back one
fourth In cash and three-fourths In
ohecks or duo bills.
10. How much money 1? there* In
Chins, and other oppressed c^ountrlei ?
A.?In Chli a only $1.06 pef capita,
In India $1.09 per capita; In Jap in.
$4.16 per capita; hi Russia 86.52 p??r
capita; la Italy $ ? 1.14 per capita. A
contracted circulation *-ems to go
hsnd la hsnd wl*h poverty aid tyran?
ny. A contracting currency fore
shslows great calamity. Such h con?
dition caused the people of Greece,
through Solon to cancel all d* bts;
mink th?m dead and start anew.
11. How many International mcne
tiry conferences have been held, and
for what purpose? \.?Three. In
1978, 18U and 1892?ell to try to se?
cure a l.uger circulation of money
(especially of ?II/er) so as to prevent
the woes cf an Iradequate currency to
our pee.pl?, ant to all poetle. The
gold capitalists obstructed each c >n
feience and prevmted god results.
12. How much money Is there In
France ? A.?France had $40 per cap?
ita In 1906; when we had only $.12
France hud 2.> per cent, m<r? than
I
we and yet we do t* n iirr.es the busi?
ness T?xas alone |g Mgger than
France, arid yet no one has ever heatd
that France was suffering from too
much money.
?.1 Wlie? w.ii'ls t . Increase <iur
am ?uni. ? f money? A.? Everybody. i<
sevms. Throutth the .prej.-hing of
l>? mccrats and Populists. Wat I ;>ire-t
has tVftl been appittntly cooverte i f.?
the quantitative theory of money, and
to the necessity of more money. The
dragon of Wall street Idolatry haa
fallen down and broken off its
bead before the Pemjcrni.'c ark of
truth.
34. What are the plans to In?
crease our currency? A.?Mr. Al?
trich-has a plan to allow national
banks to issue up to $5C0,000,000 or
bank notes secured by railroad, city
or /ounty bonds, the banks to pay y
per cent a year tax.-* ?n the not?-s
Mr. Fowler's plan is t ? dostrnv uttr
present bank notes and othei paper;
to allow the National banks to f .rnr.
a combine and to Issue pspcr money
at their p'easure, with general bank
f?6ts as secur.'tv. ihe btnks to pay
2 rei cent on this paper, but the g>v
eminent is to have no authority as
I.. wh?u? the mor..\v h t?' be irfsu^d, nor
how mm h. This would turn ihe Is?
sue . f m?ney oxer f?? th? tankers.
a 5. What was the Ocala Populist
subtreasury scheme, and how does it
differ frwii Mr. For.let's plan? A ?
The ??>puli*ts d.m*nl<d a sui-;r?Ms
ury where farmers could put up thclt
cotton, tobacco, corn, wheat (or war?.
hjtse receipt* for fame) and get
money from the Government. The
difference is that Populist* wanted
the Government ts Issue money with
faim products as security, stid Mr
?Fowler's,folks want the money, when
end where, ani as much as they
1 base, with general bank sW*t? as
security, of which assets warehouse
receipt? for farm products ar?/ ?fter
chief. 7
36 Why should the ogvernment
transfer fts pow?-r t i Ifsuo money to a
combine of bankers? A.?There Is
no reason except to favor the bank
Its and to admit the government's *n
?fflclcncy.
37. Can m>ney secured by bank
assets be any better than money se
cured by government assets9 A ?
No. The government's taxing power
is the strongest asset In the wot Id.
Through It ev ?ry dollar In tho coun?
try stands go^d for every d.?lh>r Is?
sued by the government
38. Car.'t the lovernment be <lh
wise as the bankets, and knew a?
well the country's need*? A -It
surely can. * And to put the l**ue *6
money of this great country unler
control of a coterie of bankers would
be ahiut as great a calamltv as t?? put
< ur taxing powers Into the hands of
b king. If th?e king and the b.mkers
would c.ever do wrong 1. would be
well, but there Is no guarantee against
I hat inn.unity and greed whbh power
so often develops. Who w"?uld a'ote
to give our taxing P? w >r :?vei to Jahn
W. Gates? None. Then none r.houl t
vote to turn our money Issues over to
Vr. ,Fowler or his allies Let the c -ti?
gress spurn, like Hercules, this road
to wreck and ruin and grasp anew
for the people s good the power giver
by the constitution to coin and is?
sue to >ney direct for the public wel?
fare. *
39. What fs an elastic currc-ncv*
A ?It Is ore that :an be *tretchei' In
|f out to suit somebody's notion ??ur
first elastic currency was the r\*\ du
lloiiaiv scrip tssue In quumitie* to
pay soldiers who fought for our Inde?
pendence from 1776 1781. Our next
was 8450,000,000 In greenbacks, from
1862 to 1865, to pay federal soldiers
to whip the South. We have $846.
000.000 of It still In good use?though
oft decried and cursed by Wall street
Next about $23,000,000 in gre-nb-ick
was tsayed after the panic of H73 to
help restore confidence. Not uie of
these elastic Issues was ever a greoter
messing than tho $1,000.000,0v0 of
gold which G3d sert us 0 /rom the
mines since 1896. when hone but an?
archists, Populists and Democrats
>v? uld dare assert our need for mare
money. We need a steadily growing
currency fir roc re than an elastic
currency. If we w.tnt an elastic cur?
rency system we had better make
sure that '.he people kee;? \ano? on
t.dh ends Of the -libber. Tt some
ftensVd flnamhr or capiali. of ndus
try like Tweed ?r Riddle Should ??'?'?
hold if the elaStl i tiring wliete w.. .h1
the people be'' The eurr* .?y W uld
likely be snapped In or *iretco?'d out
to make dividends for pirates rather
lum Bffgftsft'y f'-r '.h** |.*?*plo. I'.
? "?den times h r? bber btr.?n named
l r:cuvie* had en it mi b???l r ?vhlch
he forced every traveler ho could
cttch if tie? traveler w?i* ?h??rt??f
than the bed he was stretched out to
nt tho bed, even If It killed him as
he was longer than the bid Pr ?Oistes
t? ?>k his sw?*ril und cut hini to lit the
te.i. i ven U killed the tmveU Ir lm
del Mr F-?wl*rV elas'le CMifHUjr i-ian
I fear '.hat 4 t?te frenzi'd fl.iuiieie.
taith a ItVe) m uld he our financial
l'mcufrUs: gteeil u\ gain vojld be
Prccustes agreed for gain would be
the iron bed; ho people would be
Ihe Ir.tveUi and hi* iltrfc p vi Kein
vlusilc cunency w >ul<; be Ihe robber1*
*word.
Send us your job printing.
DUKE TUItXKD DOWN.
Miss Klkins iftftd "Xo" to I he Duke of
Abrm/l. i
Washington, March 29.?The Post
this morning say?:
?'Although the disinclination of the
duke of Abruzzl, cousin of Victor
Emar.uel, king of Italy, to discuss his
prospects of winning an American
bride seems to have created the im?
pression in London where he : n ived
yesterday, there does not exist an en?
gagement between the duke and Miss
Kathrrine VZlklns. According to dis?
patches, it may be stateJ v\equivo?
cally that ro such engagement exists.
'If the duke had had his way
nb^ut it when he was in Washington
ten days ago, there would have been
an understanding but Miss T lkins WU1
not ready to accept his suit L'nlcs*
the young lad/ changes her mind, *he
will never become a d tct.**t>t ??r a
princess of thi h. use :?t Sav?y
'The infeivr.ee sh?ul.l not be
drawn* 'rom this assertion tr..a the
duke is not held in esterm hy the typi?
ca' American sir. to \\h<m he p?i ?
court. f<"t he h a man ?f culiut* u.nd
refinement, and in every way worthy
of the title he bears.
"There was something character?
istic of the American in his suit inas?
much as he laid all he possessed at
the feet of the your>g lady whom he
desired for his wife-fj-title, fortune
aond all. Had the.duke been in Ameri?
ca, he might have been successlul,
while nc project exist* In the EliOns
family toward the match.
"Before the duke 1-fft Washington
he received a negative ^answer to his
proposal?at least, it was a negative
so far as the immediate fuiurv la
concerned. Those who are more fa?
miliar with tha case are dlsp< fed to
believe the duko will not r*n*W his
suit. But since he has .ihpldved
much ardor in pressing it, some of his
friends hare think he may possibly
renew it, and therein only lies the pos?
sibility of an engagement, for Miss
Elklns might change her mind, al?
though it now seems extremely doubt?
ful."
Letter to Alderman Haynsworth.
Sumtel, S. C.
Dear Sir- We can't get over talk?
ing about those two house at Lufkln,
Tex, owned by Judge 'I D FairchHd.
Both houses are exactly alike and
both painted at same time by J M
Torrancs. i
One took 15 1-2 gallons Devoe; the
other 26 gallons of another paint sold
at same price.
That 25 gallon paint is weak and
15 per cent whiting; that's why it
took A 1-2 gallons more.
Tours truly
G5 P W .DFVOB A qp
P. 3.--Durant Hardware Co. soils
ou;- paint.
Our lives are made by the love we
lo>0.
There are no good points about
the character that etloks into every?
body.
Garden Seed,
Flower Seed,
Onion Sets.
We have just received
our second shipment of
Landreth Seed. Large as?
sortment to select from.
German Millet,
Landrelhs1 Sugar Com 70 days,
Country Gentleman Corn 70 days,
Early tell3 wand White Bant Corn,
Green Glazed Collards.
Call for Landreths' Gar?
den Seed Catalogue. You
can see at a glance what
you want.
SIBERT'S DRUG STORE,
W. W. SIBERT.
Telephone, - - 283.
CASTOR IA
For Infants and Children.
The KW Yon Han Always Bought
Bears the
Signature of
NOTICE.
All persons are hereby warned
.\galn?t trespassing cn my laud* My
Ian 1 reaches one chain In be> h? v ?nd
high water mark
A. J aOO!?V \N
11 it
Saturday, April 4,-BIG DAY
The
JOHN H. SPARKS' SHOWS
and Great Trained Animal Exposition
Enlarged to Many Times its Former Size
With a Host of Entirely New and Extraordinary Features. Traveliaf in its Owa
Special Train of Palatial Railway Can. Will Pitch its Acres of Can rasa in
SUMTER
and five Performances Afternoon and Night.
I A Truly Stupendous Federation of Arenic Celebrities, in a Mammoth Programme,
full of Snap, Novelty and Suprislng Excellence. ,
Famous Champions of the Sawdust Bing, In a Bewildering Melange of sensation at
Aerial. Acrobatic and Novelty Acts, with Beautiful Costumes, Costly Trappings and Es>
trancing Music.
See the Great Performing Elephants, Lions. Tigers. Beautiful Trained Horses Pontes?
Doga and Monkeys. Whole Treupe of Funny Clowns. Panhandle Pete and hisCome4y
Gorgeous Street Parade at Noon, and Big Free Exhibitions at the Show Grounds
Immediately After the Parade.
3-23-25-27-30?4-1-3
THE
Bank of Sumter.
Capital, $75,000 -:- Surplus, $47,000
Does General Banking Business. Four Per
Cent. Interest, payable Quarterly, on Deposits
in Savings Department
PROMPT MD COURTEOUS TREATMENT GUARANTEED.
RICHARD I. MANNING, MARION MOISE, W. F. RHAME,
President. Vice President. Cashier.
CABBAGE AND BEET PLANTS.
For the next few weeks I will fill all orders for
cabbage and beet plants at the following prices: 1000
to 4000, $1.25; 5000 to 9000, $1.00; 10,000, 90c
Special prices on larger lots. Cash with order or C.
O. D. if prefered. We guarantee satisfaction and
safe delivery of plants.
I have all of the leading varieties. The Early
Je .der Wakefield, the most popular early variety;
The Charleston Wakefield. a few days later bat very
desirable for garden planting. In the later kinds
I have Succession and The Late Flate Dutch, both
producing large flat beads. Plants now ready for shipment, my personal at
attention given to all orders.
W. F. CARR, Meggetts, S. O.
DR. JOHN H. MORSE.
VETERINARY SURGEON.
OFFICE?111 1-2 W. Liberty Street
Office 'Phone 471.
RESIDENCE?214 N. Main Street
Residence 'Phone 78.
9-25-9m
_ _\_
The hVcivy death ratt in the United
States senate will not deter anybody
from accepting eleeti n to the Ameri?
can house (f lords.?Chai lesion Pail\
Record.
Improved Cotton Seed.
Has your Cotton Seed ran oat?
A re they nearly all black seed? Do
you want seed that will add 10 to ID
per. cent to your yield another year?
Then write for circulars of Phillipe,
Improved Heed.
J. L. PHILLIP8, Orangeborg, 8. (X.
1-8-am
Miss Elkins has succeeded In creat?
ing at least an illusion of not having
puisued and captured a title.?Nea?
York Sun. ^?