Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1889-12-21

1oSssssin0 81 p csne; inczsaso s. 11mbseq1
soss q fis;ssf haajsd On ssihosd., @ p Ct; s
csease f. smoont q r.ihoad seocs nd bood g
per cent: increase in capital stock 0t New KnQ.
land manufactures, 10 pr cent; incEecse m
cent; incrsase in acres Of public lands taken mp,
u Per cent; increased cost OF public schools, a
PERCENT; increased receipts OF postofhce depart
ment 3 DER cent; increase in consumption OF
wheat, per cent; corn and corn meal, = per cent:
sugar. 30; liquors, %. The .groes annual receipts
of railroads, telegraphs, posta! depertment and
receipts on life insurance policies for each year
from 1879 to 1888 absorbed but u per cent of our
gross annual circulation. while for each year from
1884 to 1873 the absorption was % per cent. From
1874 to LIS, period of shrinking currency. our
annual volume of money was Is per cent OF the
total amount of railroad stocks and BONDS, from
1879 to 1888 it was 10 per cent, and from 1884 to
The increase in the foregoing staples of the
farm, the mine, the factory, transportation, COM
munication, consumption and lines OF business
compared with the five years ending with the
close of 1855, make an average increase OF "a to -
per cent This is the growth of five years over the
GUS five years. and to meet this Is per cent growth
in business we have but per cent increase IN
circulation over the volume OF circulation OF the
Is it not plain from these figures that the in
crease in the volume of the currency during the
same time, while coming about up to the growth
of population, falls far short of the increased de-
mands of the present larger production, con-
sumption and commercial transaction?
In the DEVELOPMENT of production and trade we
have appliedJthe distinctively American policy OF
protection TO our industries, while in monetary
matters we have been without definite policy,
and for want of one we have been drifting In the
line of England's monetary system. We are pro-
ducing farm staples according to the American
standard of labor values and selling them In the
markets measured by the European standard of
and production, Europe has been applying her
standard of values in measurement OF the price OF
farm staples, She is both shOp-keeper and bank
f
monetary standard in measurement OF the price
of our products? Why protect labor in the shop
and permit our rival to price labor in the field,
lection? 1t is like fencing the field to Keep stock
out and then leave the gate open through which
the whole herd may pass; ! would not pull down
lection complete, measure the products of farm
labor as well as all other, with an American STAN
dard.
A standard of values restricted to gold gives
Great Britain large control of the labor and prod
ucts of all countries with which she has estab-
lshed commercial relations Such standard
her shops sustain where shut out of the markets
of raw material producing countries, such coun-
tries selling her their surplus staples weighed on
British scales adjusted to British interests rather
than adjusted to secure equity to the producer.
The increasing purchasing power of gold Is the
secret of Great Britains success as manufacture
e. az it gives her the surplus food and raw ma
Above that paid her own labor, the effect being
the impoverishment Of labor, whether it be sold
indirectly in the products of the SOIL or directly
for stipulated per diem, by transferring prod
ucts from producing to non producing classes at
prices scarcely above the requirements for sub
sistence. The cry of distress going up from labor
throughout the world is the result of depriving it
Of its fair share of labors profits due to the short
standard of measurement applied in valuation OF
Its products
ability to destroy the value of labor and naming
the standard by which labors' products are meas
ured is equivalent to fixing the price. An ap-
proach even in part to the single standard of q
stricted currency invites bankruptcy to agricul-
ture, poverty to labor, and stagnaton to business
Hence the monopoly Of gold in measuring prices
should 6e and while We 90 a
tary congress OF all those countries that produce
surplus food and raw materials, that standard
OF values may be established conforming to tho
increased requirements of the worlds growing
production and business.
Among all civilized peoples the United States
is foremost in wealth production, standing pre-:
eminently as the great producer OF bread and
meats our entire structure resting upon the pros
perity of labor, the very life of government de-
pending upon the contentment and loyalty of the
labOring millions; therefore we cannot afford to
allow the labor of shop or field deprived OF its
just rewards Our prosperity lies in the increased
have the largest volume OF money consistent with
sound currency.
Mono-metallists say we must adhere to the Eng
ish system, in the interests of foreign trade But
the principle of American protection is to care
first for home; and as our home protection, trade
and commerce is estimated annually about $780,,
900, 70, co., against a foreign trade aggregating
about 81, 500 OOO,0OO or but ons-twentieth of the
home trade; does it not seem poor economy to
take care of the inferior at the expense OF the
greater?
But, it is asked, where is the diff renee, agri-
culture receives less for its products and buys
more for its money? The difference lies in this,
with an enlarged standard of values and cheap
er money his accumulations will be greater. The
short standard OF measurement falls with crush
ing mainly in the loss of trade when the producer
becomes crippled.
Consistent then with the American idea, pro-
which the product is measured as fully as to pro-
dnction. The basis upon which trade and COM
melce rests should have equal protection with
policy of finance is too narrow, too restricted to
afford sufficient foundation for the magnificent
industrial and commercial structure we are rear
the structure like an inverted pyramid is top
heavy. We need a broader base. a larger standard
of values to avoid topping over. Our business is
count is becoming too large Nor cash. Toppline
is threatened in the spectre of financial crisis
in the east when the money comes west to move |
crops, and it appears in monetary dearth in the
west when the money is sent east to pay coupons |
and to purchase the products of factory and shop
We see it is threatened in diminishing prices for
our surplus products consumed by Great Britain |
and in the increasing number of failures in the |
last five years We see it in the steady departure
of coin to pay balances against us in foreign |
trade the result in part of the increasing purchas-
ing power of gold, the Standard applied to our e1-
port bread and meat, and which in turn measures |
the entire product consumed at home.
This country should have domestic currency |
to meet an expanding domestic production and /
trade allowing the gold to take care of the foreign
without, however, Gripping the greater volume of !
domestic commerce and the many new fields of |
industry steadily calling for an increase above
our present supply.
From whenceis the increase to come? Our gold
product is already being utilized annually, while
national bank circulation is growing less. Silver
and treasury notes constitute our only resources.
Silver is an American product, and should unite
to enlarge the standard and treasury notes should
constitute our circulating money. The govern
nent having assumed the responsibility of issuing
and experimenting the circulation, it is the duty
Of congress to provide for such information az
will from time to time tend to show the growing
demand for currency and then to provide the nee
,ssary Volume.