People's Pilot, Volume 4, Number 16, Rensselaer, Jasper County, 5 October 1894 — Spinner's Prophetic Vision. [ARTICLE]

Spinner's Prophetic Vision.

Chicago Times. One of the chir»f arguments of the advocates of the gold standard is that the less money there is in circulation the more prosperous are the people. They have been practicing on that theorj for the last thirty years and have, succeeded in transforming a condition* of almost universal prosperity and popular content Into one in which ninetythree out of every 100 business ventures.fail, and the people are in a state of unrest which threat-

ens the very foundations of government. But the advocates o.f a contracted currency have not oeen supported in their view oy the men of unbiased mind, familiar with the currency qiinestuon. When he was United S tates treasurer under Presit lent Grant, Gen. F. E. Spinner, the I year following the great panic sos 1873, made a report of that panic and the causes whic.h led

up to it. When the character of his report became known to the Wall street kings they importuned the president to refrain from using it, as he had intended doing, as a part of his n message to congress. As usual, t' he Wall street money kings won, and the following was eliminated from the presidential mess age. In the light of present co-> editions it reads like a prophesy/, and the shrewdness of tha men who wanted a constantly appreciating currency—a monopoly of the circulating medium--in causing its omission,, is more thah ever appreciated:’ Then there were sow creditors; as there was enough to do so, all paid as thery went, and therefore there was mo collapse, as is usual when a country emerges from a long war. It was after the nnmber of people using the money had largely increased, and the currency decreased. that long credits became necessary; after which, after awhile, came suspension of all credits and a fearful panic. The truth is. when money is abundant there will be few private debts. W r hen money is scarce the exchanges of commodities are made on private tired-

its. As it becomes more scarce the credits are given and debts made on larger and longer time, to give the purchasing parties, as they call it, “time to turn themselves, ” Soon these private debts become so greatly inflated that an explosion takes place, that could not have happened under a better credit system and a more wholesome state of the money market. When,,. on the other hand; money becomes i core and more abundant, credits are asked for and given on shorter time, until the time comes when there is money enough to transact all the legitimate business, and to effect all necessary exchanges of all the merchantable commodities of the country; then private credits will be almost entirely unknown, as will commercial revulsions and consequent panics.

All of the people cannot be fooled all of the time. A great many people have already learned to distrust that thimble-rig-ging delusion, the less one has the more he possesses, and are surprised that they have been so long fooled. When the people come to understand just how much the success of this confidence game has had to do with the irtfffering and misery now on every hand they will rise up and wipe every vestige of Wall street legislation from the statute books.

Opening a w>atch with a knife or finger-nail is needless in our d ay. The Keystone Watoh Case Clompany, of Philadelphia, Pa., free a handsome watch case opener which makes, besides, a pretty charm for the watch chain. If you can’t get one from your jeweler, send to Philiadelphia. This Company is the largest of its kind in the world, and makes all kinds of cases. Its specialty is the Boss tilled case. Jas. Boss invented and made the first tilled case in 1859, and many of.the cases then made and worn since are still intact. Later the Boss patents passed into the hands of the Keystone Company, which has the sole right to make these cases. It has also the sole right to use on its cases the patent Non-pull-out bow or ring, which prevents loss of the watch by theft or injury to it by accident. The Keystone Company does not retail, but all jewelers sell the Boss and other Keystone cases.