The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1890-08-14

power. Thus England II the
great efcditor nation of ths world.
Every pation aud The Individuals Of
every nation owe her. she holds
their obligations for 90 many poe 80,
and SIS many doliars, aud the more
she can reduce the volume, the more
purchasing power The ,Ounts and
dollars site receives will have. For
this reason for 30 years che has
striven with all her financial lnfiu-
rnee Ca force or induce other nations
la abolish silver coinage aud ouly
use gold for coin. This, OF course,
would very materially enhance the
value of gold, OF It's purchasing row
CT, and thus greatly benefit creditor
nalious aud individuals, and lay
heavier burdens on debtor nations
and individuals. 10 Would he iu-
furious TO almost every interest In
these United States, for while 10
might incidentally benefit the hold
er of great wealth, and Increase the
value and power OI their aceumula-
tons, the mischief and pecunlaTy
disaster it would infict ON stTugYl-
ing business men aud iaborers aud
producers, especially those ia debt,
would reeOil sn eyeu those who. had
money, who would more or less
suffer from business disasters.
The fall In silver Was largely raus-
ed 10y iermnny demonetiZIng 10, and
throwing six or seven hundred mil
nions oG silver In the market OF THE
world. The fraudulent dsmonetiz-
ing in the United states In ls'I2 add
e,l To this depression. silver was
partly remOne.ize or restored in,
the 18th congrUss. The bill n u
passed the house then WAS precisely
as 10 was Framed by the sub-commiI-
tee and committee Oh banking aud
currency, Of both OF which | was =
member, and simply restored the
free coinage OI both metals, accord
Ing Ia our standard, but the senate
amended il, striking Uut free coinage
and providing that the government
should buy silver and cOin from Two
10 four million "A mouth, IL repealed
the fraudulent CAUSES iu lSI:, how
ever, aud Ne accepted IL on the
ground thst half loaf - better
Than no bread 80 matters have
remained from that day to this, un-
81 the present effort tu TestOre free
coinage. Whether the single stand
ard men will ba able tn defeat b nov
remains Ia lee seen. A great many
good men ATE nIisied 10y statements
that this is n scheme Io help the sill
yer pTolurrrI. That IL merely au
Incidental thing, and We should not
he sorry at any proposition Of g-u-
eral good, even 10 u Incidentally
helped a great American producing
Interest.
l Teuieuh-r a conversation | once
had with president tITznt white the
question OF rpuI0neiiZing MAS before
the house. He referred Iu the posi-
lions had taxed ia "a speech and ]
was much sTatiIird To- find that he
WAS not opposed Ia u. lie said,
This il our old standard and there
can I've nothing unfair In maintsiE-
ing IL. but the important msiieT -
that we are the chief silver pTOduc
ing nation IA the world, nearly one
half of the annual output of silver
being from the tinted States. lt
certainly IL not our policy 10 destroy
the value Of this, aud IL We ran in
luce other uation- tn maintain sill
yer rOinase We would place our
/ selves in condition to dictate tile
iiuaure Of the world. az course .,
| IL desirable 10 have our standard.
~ nearly alike ~ possible, tut, a.
you have suggested, this may enable
rs to make them sU. ] recall what
lac thus said ~ very CONCISE Un this
question:.
4 great many good men are inhaled
by the uiicn repeated argument that
our silver dollar is only worth
eighty cents. Remember that those
wio re- on that superstition Hr- in
-isiing Ell The cniIaucrh measure vl
the gold standard Eighty cents
worth 81 silver bHliinn. ia the mar
krt "f tin world, could buy in tie
past few wears more wl-St, bt., Z.
rnTn, labor az uihrr article uf Use
than u dniisr ui either gold ar silver
could 'iu i,io't. the decentralization.
When they. therefore, say put ia
twenty-five r'.iii- worth or tSriitN
cents worth more silver, that Is
simply accepting the English die
tun "I an rHhanrel gold standard.
10 would he n great deal more honest
IL take Uui - many grains from the
gold cent. Ia lsIS auti - I't"ihIii-
g:ied - i'''.lriG" 80 tii'' committee uf
banking and currency. Whiun. !
think, should hr adopted a. n fraud
aiienial MA NinI ri \ uIrriran iinanrc.
II was that the standard Uf value
should meyer bs' IaIupeTrd With ar
changed " hen u ruGld Ice avoided,
but IL they must h. changed, the y
should he Ia the interest OF the
debtor rather than THE creditor
class, On the principle TINT IL LOSSES
are nsNilable. then, "Ihnse who
have must loose" n the ITishnIau
said when his pig died To show
that our AmeTicSi standard il not
inferior | will -tair that in France.
whirh maintains II far larger silver
circulation than We do, and, i'm all
the Latin nations, the standard is
~. parts " silver iu pnr uf gold,
while our American standard Is 10
parts of silver la UIlt. pf GOLD.
Among the important measures
that became law in tis ( III con
gress, when had the d, nuT - serve
you. was THE hill tu prrgent the can
collation. of legal trudrT notes.
Had IL not been enacted all Of this
our best currency wuuld, under the
manipulation uT Wall street, have
passed away, and wiIhnut th-ze
notes aud the silver aud The silver
We NbttlAN btN hllit-l bG
without n circulating m,-liunE.
Another measure that I suggested
to pass but failed to get a raIariiV
Tor ia the same congress, MIS- my
postal savings bank ball. Very few
IN the west understood all it, rur-
y ga. Every po-t uilire tlst aas a
money Oi,lsr nriire wa iO be made
savings bsnk alsu. Every man, NO.
rnan aud child over Twelve could de-
ibosit from TEN cents to three hun
dTrd dollars, that was the limit, rs
prevent its abuse for financial
schemes. When the deposit rearli-
ed i've dOllsIs 10 bare 3tlj per cent
Interest, and when IL amounted to
ten dollars took the shape or crr-
titicate ar hill that could circulate |
rs money. In this way the savings
Of the people were safe and not |
locked up, hut constantly swelling |
the volume Oi currency - deposits |
were made. II WA a poor i'ian's |
banking schEme, for the poor mans
benefit. A. all banking H. done
more or less on credit, this wouii be-.
safe banking OH the credit Of the
people, its profits their, aud would
have given us to-day i've million
more Of circulation which we need.
Another Just demand Of the AM
snee Is the regulation of great cnr-
I'Oratiobs. Railroad transportation
. = little more than fily years old.
u has grown up like JoBah's gnurd,
n n night, and hss grown without
being properly regulated. Half q
iOzsn men are able 20 control this
yreat interest. How do they do u?
They work n corporations. That u