The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1878-01-17
For the Eagle.
The Peoples Side Of the Money Question.


1t can be truly said "the masses de-
sire the RECOMMENDATION of silver, and
they have the right, manifestly, to try
the result, as in the event of disaster,
they pay the bill"
Congress is the constitutional pow
er to make the national currency, aud
establish the standard of values. This
body is the creation of the people, OK
listing by their will and expressly to
do their wish. We are the securities
for all monies issued by our represent
atiyes, and have to abide the conse-
quences, We need money-millions
more of silver than we now have, for
the simple convenience of making
change. The amount of gold in the
nation is ridiculously small as a basis
for the security and redemption of the
bonds. Restore the coinage of silver,
and this basis will be increased at least
two hundred per cent. All counter
arguments eminate from parties mani
testify desiring to speculate i'll gold.
We are hearing much of communism.
People discover that few men, per-
haps not to exceed thousand, in the
$4,000, 900 of our nation, have over
one-half of the wealth of the nation.
They are asking how they came by it.
Investigation shows that it came about
by fraud, evidently it was not earned.
The money power are few, organized,
concentrated, and therefore powerful.
They influence our representatives to
special legislation. They give our
lands to corporations. Legalize the
issuing of bonds, create and protect
monopoles and corporate institutions
and numerous like acts. In Kansas
they bring money from other States
aud loan it at Ito the borrower) ruin
Gus rates, and dodge the paying of
taxes, claiming their money to have
paid taxes in other States. On inyes-
tigation it is found, at home
they claim their money is paying tax
es here. No communism exists here.
But a desire to stop the steals is about
all that actuates the people now. 1t
exasperates men TO know that five out
of seven who have borrowed money in
Kansas have lost their homes. Many
of them have paid the whole loan in
interest from one to four times. The
mania of borrowing has been epidemic
and, like fierce maladles, has slain its
thousands.
Financial distress in Kansas has been
wrought by the borrowing epidemic,
the bond mania, and drunkenness
The first two are ot1springs of extrav-
agance consequent OH the war. The
last is also mental disease engendered
by war, for like the small pox and itch,
it is catching, and comes of imitation
and association. The failure of six
out of seven who have borrowed, ex-
emplifies the immense folly of the
People would not heed
the statistician when he announced
that loans could not be safely made at
en average, above six per cent.
OF the second cause, no more weak,
and unconstitutional act was
ever committed than the voting of
bonds to corporations. There never
was majority of taxpayers on the
winning side. An exalted cruelty and
vicious fraud is perpetrated when my
pledge my property, with
out my consent or the approval of my
land by the aid of the float
ing population who neither own prop
crty nor pay taxes), in any visionary
scheme. In this manner are we pay
ing tax as high, nearly, as we should
payif all our possessions were bor-
rowed capital Now that we under
stand the situation, is there any reme-
dy! The near future will seed the
need of radical amendment to our
State and national constitutions max
ing the work Of our new legislators to
be mainly and for the greater part TO
be suggestive, Let it be their duty to
frame laws and present them to the
people for ratification or disapproval
al the next ensuing election. Then,
indeed, would ours be Democratic
government, Cease to borrow money
is you would shun calamity. About
he only people having homes and
are those who have not
borrowed money.