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\ T£ r c; tT i v M mm LA JU K s r / II i ■v ffunibcr ^ » UfSE CAHTOL t] ie Political Center s from to Interest that Occurs k Washington. iealousy between Mr. .p w j Secretary Blaine, ison su d persist [h some people will Lg t does _ not The exist, latest state¬ crops a li times. Mr. ly *bv the friends of is, that if Mr. Harrison ae to wait 48 been content for the arrival of Mr. ? himself hur ie, instead of h preparing the demand L f the Chilian junta, the Lustration 0 to-day would not its present awkward pre Lent. They contend that Blame would have drawn lie document so that the fens would have found it Lsible to have answered in banner they did that of Mr. fison, and charge that Mr. feon’s reason for hurrying math was, that bethought htaiu some popularity by Pg as the champion of bican interests abroad jih L might otherwise have to his Secretary of State. peculation as to the outcome be Chilian difficulty is the •9 kiipai occupation of a good bv people in Washington at /time, and not a few of them bding all the officers in the hr, where propmotion is alow pie of peace, are heartily ping lor war, notwithstand pur poorly prepared condi for war, even with a w eak pr like Chili. Secretary b admits that few even of hew vessels areproperly pre W to fight and that some gis lacking in either the Ippment or armement of p 0116 of them; besides, we F dud it very difficult to ptain | a fleet in Chilian wa without a single coaling kin that section of the t!d - However, it is not prob e although possible, that we 1 &o to v ar with Chili. Senor Mt. the t hilian Minister here that an agreement ! satisfactory will be j ader his government '^shedthe f ^ into the investigation it , 'mt advices fight of the indicate > from Chili do ' that such an opm ^publicans L? Pertained tin ere. admit that Mr. ire w °uld like Minister _ very much to P? fully ganout of Chili, k. ! y sati sfied that he l;:;" ake h sending hi nil re Mbeysayhe KfxntV! called will not lAe the relations inch ^phained *2 ■'° C0UE tries are c ° ndi ti 0 n as shaU be de - ‘^oif I dth('4 a uV ddiplomati i mmiStrati0n rela c M v-iua, ; and that will not . j c Un; ess it - b, ecome abso lint J tarn ^essarj- the j m order to a<w t os ‘ tion assumed omand in its u pon Cliili. i * EQUAL RIGHTS TO ALL AND SPECIAL PRIVILEGES TO NONE.” Conyers, Georgia, Saturday, r °7 7. 1891 Just a little more than $4,500, 000 of the matured 4J per cent bonds are now outstanding and not far from ten percent of them are in the hands of the U. S. Treasurer to secure parts of the circulation of less than a dozen national banks. These banks have been requested to have th ese bonds extended at two per cent, which would make them available as security for their circulation, and which would also please Secretary Foster, in¬ asmuch asit would meanseveral hundred thousand dollars more to help to meet the appropria¬ tion of the billion dollar Con¬ gress. The Naval Court of Inquiry into the loss of the U. S. S De¬ spatch has been holding daily sittings here for nearly a week, but the amount of actual infor¬ mation it has brought out might easily have been developed in a sitting of one hour. Briefly stated the testimony of those on the boat is all to the effect that the vessel was lost because Lieut. Noel, the executive offi¬ cer, changed the sailing orders of the commander—Lieut Cowles,—after he had retired, and that this change was justi fiablecause a light which should have shown white, from a light¬ house, appeared to be red which indicated that it was aboard of a certain lightship. The most) 1 amusing incident eomiectedwith Inquiry was when a hatch of sailors, who had served on the Despatch, were brought before the Court/and after having the sworn statement of the Com¬ mander read to them, were asked if that statement was correct. Of course everybody knew what the answer would be. These rnen are still in the navy, and none of them would be foolish enough to contradict any statement made by an offi¬ cer, even if they knew to a certainty that the statement was incorrect, which please under¬ stand, it is not my intention to even intimate not having any better source of infomation than the testimony before ths court. It is only the absurdity of ex¬ pecting enlisted men to a disa¬ gree with their commander, to which attention is called by the incident. Secretary Foster was the on¬ ly member of the cabinet that went on the stump during the State campaigns just closed. Since Secretary Blaine’s re¬ turn Secretary Tracy is no lon¬ ger known as brevet Secretary of State. The rain makers have tried their dynamite at Birmingham. There wasn’t any rain, but as the explosion occurred on the ground, instead of in the air, there were some narrow escapes on the part of the spectators. Bagging and ties at bottom prices at Almand & Langford’s Subscribe for this paper. STATESMEN TALK What the Sages of All Ages Think of the Money Question. Very few persons are aware of the unanimity with which nearly all writers on economics concede the fact that “more money brings better times, and less money harder conditions.” This is all the more remarkable when we realize how complete¬ ly this point is ignored by the monopolistic press, and the money-owners and their political servants. I can do no better than fill out this letter with ex¬ tracts upon that proposition. William H. Crawford, Secre¬ tary of the Treasury, in a report (February 12,1820) to Congress, says: All intelligent writers on currency agree that when it is decreasing in amount, poverty and misery must pre¬ vail. The Encyclopedia Britannica, 1859 (article Precious Metals, by J. R. McBulloch) says: A fall in the value of the precious metals, caused by the greater facility their production, or by the discove¬ ry of new sources of supply, depends in no degree on the theories of philos¬ ophers, or the decisions of statesmen cr legislators, but is the result of circumstances beyond human control; and although, like a fail of rain after u long course of dry weather, it may be prejudicial to certain classes, it is be*, neficial to an incomparably greater number, including all who are engag ed in industrial pursuits, and is, speak ing generally, of great public or na¬ tional advantage. Ernest Seyd, 1868 (Bullion, 613) says: Upon this one point all authorities on the subject are agreed, to wit, that the large increase in the supply of gold has given a universal impetus to trade, commerce, and industry, and to general social development and pro¬ gress. * The Amercan Review (1876) says: An increasing amount of money, and consequently augmenting prices, are attended by results precisely the contrary. Production is stimulated by the profits resulting from advancing prices: labor is consequently in de¬ mand and better paid, and the gener* al activity and buoyancy insure to capital a wider demand and higher remuneration. Leon Fauchet (1843) in Re¬ searches upon Gold and Silver, saj T s: If ail the nations of Europe adoped the system of Great Britain, the price of gold would be raised beyond mea¬ sure, and we should see produced in Europe a result lamentable enough. M. Wolowskisaid: The sum total of the precious metals is reckoned at fifty milliards, one half gold and one-half silver. If, by stroke of the pen, they suppress one of these metals in the monetary servi ce, they double the demand for the other metal, to the ruin of all deb tors. Baron Rothschild says: Tbe suppression of silver amount to a veritable destruction of values without any compensation. At the session (October 30, Price per Year, §1.00 1873) of the Belgian Monetary Commission, Professor La veleye said: Debtors, and among them the State have the right to pay in gold or silver, and this right can not be taken away without disturbing the relation of deb tors and creditors, to the prejudice of debtors, to the entent of perhaps one half, certainly of one third. To in¬ crease all debts at a blow (brusque ment) is a measure so violent, so revo¬ lutionary, that I can not believe that that the government will propose it, or that the Chambers will vote it. Adam Smith, the father of political economy, says, page 205: From the high or low money price either of goods in general, or of corn in particular, we ean infer only that the mines which at that time hap¬ pened to supply the commeacial world with gold and silver were fertile or barren John StuaatMill, in Principles of Political Economy, saysf page 301: If the whole money in circulation was doubled, prices would double. If it was only increased one-fourth, prises would rise one-fourth. Ricardo plainly says in regard to this question: That commodities would rise and fall in price in proportion to the in¬ crease or diminution of money, I as¬ sume as a fact that is incontrovertible. Prof. Francis Bowen in his work, “AmericanPolitical Econ¬ omy,” page 280, says: The power of money thus to deter¬ mine its own amount arises from the reciprocal actions of the quantity of money in active circulation and the price of commodities. Thomas Tooke: If money has idcreased, industry and trade are increased; and thus the tendency to depreciation is met and strongly counteracted. Prof. A. L. Perry, Political Econony page Go, says: If the money oi a country becomes relatively more abundant than before, general prices will rise in that coun¬ try for reasons already made apparent and when money becomes less abuud ant prices will fall for corresponding reasons. Allison’s History of Europe: The evils complained of arose from the unavoidable result of a stationary currency, co existing with a rapid in¬ crease in the numbers and transactions of mankink, and these were only ag¬ gravated by every addition made to tiie energies and productive powers of society'. Doubleday’s Financial Histo¬ ry of England: We have alieady seen the fall in prices produced by this universal nar rowing of the paper circulation The effects of the distress produced , al* over the country, the consequence cf ils fail, we have yet to see. Henry Clay, during the de¬ bates on the sub-treasury in 1840, made the following eloqu ent, truthful, and logical speecn. It shown clearly that his great mind had grasped the idea, that price, not only of products, but of labor, depended upon the quantity of money m circuia tion: The proposed substitution of an ex c i US xve metallic currency to the mixed medium with which we have been so * on £ familiar, is forbidden by the principles of eternal justice. Assum¬ ing the currency of the country to consist of twotbirds of paper and one of specie; and assuming, also, that the money of a country, whatever may be its component, parts, regulates- all val¬ ues, and expresses the true amount which the debtor has to pay his credi¬ tor, the effect of the change upon that relation, and upon the properly of the conn cry, would be most ruinous. All property would l.e reduced in value to one-third of its prsent nominal amount, and every debtor would, in effect, have to pay three times as ranch as ho had contracted for. The pres¬ sure of our foreign debt would be three times as great as it is, while the six hundred millions, which is about the sum new probably due to the banks from the people, would be multiplied into eighteen hundred mil¬ lions! Have gentlemen reflected upon the consequences of this system of de pletion? I have already stated that the country is borne down by a weight of debt. If the currency bo greatly diminished, as beyond ail ex¬ ample it has been, bow is this b-.-bt to be extinguished? Property, the re¬ source on which the debtor r< tied for his payment, will decline in value and ^ it may happen that a man who honest¬ ly contracted debt on the faith of prop erty which bad .a value at the time fully adequate to warrant the debt, will find himself stripped of all his property,.andhis. debt remain unex Anguished ; ‘ . \. - - N. A. Dunking THE PUBLIC RCA DA. The Georgia and Hie Southern States Road Congresses have met and adjourned. While the general movement throughout the South is to be heartily com¬ mended, our people are much more interested,- of course, in the movement to improve Che public roads in this State. The suggestions and recommenda¬ tions of the Georgia Congress will result in great gout) if they are ever carried out. One sug¬ gestion is that county convicts be put to work on the .roads 6f the county in which they are convicted, Tilis is alre h'■ y bring done in a number of thu : duties wfcih splendid results, a ad the plan should be adopted in all the counties, Another s ;ques¬ tion is that the penite.o con¬ victs be put to work < .too pub¬ lic roads of the State, n.d to that end resolutions wem r- dopt ed against any renewal cf the convict lease system \M - i the present con tracts t on ate. Public sentiment in the office is already so strongly in favor' of this proposition that it v, < -’.hard¬ ly' necessary to pass the resolu¬ tion. The trouble is thin r will . be several years hence before j the new poliev can be in.'; . • mat ed. Before adjourning, l econ¬ gress recommended the .-.hole matter to the earnest co mi dera¬ tion of the next Legisk-:- -. It is to be hoped that body will give this important subject the attention it deserves. The last two Legislatures, with the earn est recommendations of a simi lar congress before them, and a ' vare of the sad condition of nored the w hole question. We wish the State better luck in the next General Assembly.- Col unibus Enquirer Sun.