Thomas County cat., 1890-06-12
Present Economic Problem..

continue the dlScu6G1On OF Cn0 fol0LlOns
between public and private interests,
not only as applied to those interests
affecting the country as whole, as the
railways and telegraph lines, but also as
applied to smaller political divisions, as
counties, cities, and towns, when the
same principles applies to works affect
ing the people as body, such as water
supply, gas works, electric light plants,
street railways, etc. Foreign municipi-
alitles have already taken the advanced
step and the results have fully substan-
tiated the claims made for such public
appropriation and operation by the
friends of the measure, and there is no
question but that similar plan carried
out by competent business (not politicaD
men would prove as advantageous in this
country. But recent occurrences and
statements in congress, and the necessity
of prompt action upon matters vitally
affecting our currency, and through that
the general welfare have led the writer
to defer the further discussion of this
branch of the present economic problems
for the present and to turn attention
again to the necessities of the times as
they appear to us. To those experienc-
Ing and seeing daily, the effects Of the
dearth of circulating medium, it seems
as if the delay, and wranghng and ap-
parent desire to put off final determi-
nation of the question is inexcusable.
There should have been no more delay
in the passage Of the act for the free
coinage of silver than there was in legis-
lation upon the original package de-
cislon.
The demand is not confined to single
class. 1t takes in all wage-workers and
wealth producers all over the country.
The relief demanded is urgent. With
relief many home owner will yet be
able to save the place as dear to him as
the palace of the bond holder is to him.
1t lis a life and death struggle. AS one
hard working laborer said to the writer a
few days ago, and he is but an example of
millions who are in the same position;
81 can just manage with the closest
economy and by my wife taking in
washing to keep up the interest and
taxes on our home, but unless money be-
comes easier, under the present state Of
affairs can never pay the debt ITSELF"
and that is exactly the condition of
ninety out of every hundred Of those
who have gone into debt upon one basis
of circulation and have had their debts
doubled bv another and entirely different
basis. Having reduced to state of
practical serfdom large body of the
people by the hitherto careless and per-
nicious legislation, is it the intention to
keep them there?
Cannot the signs of the times be read?
Are congressional ears so deaf that they
listen with Indifference to the cry for re
! lief? To be sure the passage OF the free
coinage bill will forever release from the
power of any man or set of men, the con-
troll of the currency of the country. But
that is just the relief that is demanded.
AS we'll give the power to levy toll upon
the users of the public highway, raising
,r lowering charges at will, as to give, by
a gold standard, the power into the
hands of the money monopoly, the dicta-
ton of prices, or in other words the value
Of money.
The single standard they can control
and raise and lower at will as best
suits their speculative minds. The
double standard is beyond their control,
for the present at least, and it is probable
will always remain so. The exertion of
the power possessed in the single stand
ard has been demonstrated, and the
wealth of one class has been doubled,
not in the number of dollars, but in the
purchasing power of those dollars, and
the wealth of the other class has been
diminished by half, not in real value but
in value as counted by dollars. The bonds
and mortgages held by the money owners
are worth double and the debts of the
givers of these bonds and mortgages
have been doubled. Is it any wonder
that there is we'll nigh universal cry
for relief, not from unavoidable misfor-
tune, but from such manifest injustice?
The farmers, the mechanics, the wage
workers, all desire to be honest and pay
every dollar of their Indebtedness. They
knew they could do so under the ccndi-
tions existing at the time Of incurring
those obligations. Are they to be
blamed if they seek to avoid the payment
of an amount Of double the value they
contracted? All that they ask is a
chance, half chance, and they will pay
out, but they see under the present state
of affairs an almost absolute appropria-
ton of their property, and apparently
no disposition to render the just assist
ance to bring once again prices back to
a fair and remunerative basis. To be