The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1891-05-20

mas hO'Ci oCCu Q6utcu ti1<et ti1C CLIO "
our greatest dates from 1880 to 1850
Some have ascribed that prosperity t
J free trade; others, like the Hon. Jane
6. Blaine, have denied that free trad
had nything to do with it, but rather
that 1t was mainly due to ou
Californian gold discoveries. We believ'
the latter explanation to be the correc
one. But this prosperity was not due t.
the mere value of gold as bullion, be
cause If that were so, then the only per
sons that would have been benefited, tt
any extent by that discovery, would have
been the gold miners themselves. The
real secret then of this great prosperity
was, that this gold was coined into mon
ey and though the increased circulation
caused thereby, the every pulse of tht
nation began to beat and throb as it new
er had done before nor ever has done
siuce. Hence this unprecedented activ.
ity, development and prosperity were
due then to an increased money supply
/ and when our country is as prosperous
as it was during that period, there neeC
be no fears about our exports of gold. fol
| the balance of trade will always be in
! our favor.
Another objection that has been urged
against the free and unlimited coinage
of silver, is that it costs less than 81 tC
produce the silver in a silver dollar; but
these same persons fail to tell us how
much less than 81 it costs to mine, or in
other words to produce the gold in a
gold dollar. If it costs less than 81 tC
produce the gold in gold dollar, and il
does, then with equal force the same ob-
| lection can be raised against the free and
unlimited coinage of gold.
The next point to be considered in con-
nection with free coinage of silver is, do
we need more money? Now all values
are measured by a money standard. that
is to say, if there were only 500, 900, 900
in money in the world, then the whole
world could not be sold in cash for more
| than that amount. Suppose now that
by opening up and developing new areas,
etc, $50 900, 600 have been expended in
permanent improvements, without any
increase in the volume of money. The
| world would still be worth in cash only
$500, 600 as before, although $50, 900,
900 has been expended upon it. Now
this country as everybody knows has
made wonderful strides during the last
ten years and millions upon millions of
dollars have been expended in its devel-
opment, both east, north, south and
west and yet, if it were sold at public
auction today it is doubtful if it would
bring as much as it would eight or ten
years ago, before this development had
taken place. The only reason for this is,
that our money supply has not been in
creased accordingly. Now we often
hear it stated during times like these. by
certain class that there is plenty of
money, but the trouble is lack of con-
fidence We know there is a lack of
confidence, but why is it? Let us illus
trate:-Take one of the great lakes, for
instance, and draw one half of the water
therefrom; there will still be plenty of
water, in the deeper places. but the more
shallow places will have become perfectly
dry. So it is when our volume of money
has become contracted, or in other
words, when the same has not been in
creased in proportion to the increased
development, which amounts to the
same thing as contraction. There will
still be found plenty of money at all the
great money centers, but interior points,
where the country is still under great
state of development, will have become
almost destitute of money with which to
continue the developments already
begun. Consequently certain sections
are left in a semi-unproductive state and
the people thereof unable to meet their
many obligations. Therefore the credi-
tor class have lost confidence, and they
have not only withdrawn what little
money there was in circulation from in
terror points, but have refused to extend
or renew old obligations. As result OF
this further contraction, all property
has become thereby greatly deprecated
in value. Now this contraction of the
currency will ultimately affect the older
sections Of the country as well as
the newer, because the older sections
furnish the money and the material for
this developement. and when by any
cause it has become checked the demand
for both money ana material is also
checked May this not be the cause for
so many mills and factories being closed
down at the present time, and SO many
men out of employment?
The next question to be considered in
connection herewith, is why is it that
England is SO opposed to a further ex-
pansion of our circulating medium?
When we take into consideration the
fact that England has reached that
state where further Development is at
an end. we can readily see with her,
why there is no necessity for an increas-
ed money supply. But this is not the
only reason. If our circulation were
increased then British gold would not
buy so much of our products and our
realty as now. The fact IS, for the last
ten years or more, this country has been
the favorite field for the investment
OF foreign capital bat at what cost to
our people who have become thereby
slaves and serfs to British gold and Brit
ish iandlordism. If our circulating me-
dunn had been properly increased few
years ago, more of our people would to-
day be owners of their homes instead OF
being tenants. Instead of being borrow
erS of money, would have been lenders
thereof. France has the largest circula- |
ton per capita OF any European nation !
and her people are the happlest, the best |
contented, and the most prosperous PEG |
pie in the world, and not long ago even |
England was large borrower OF French |
gold. Give this country circulation |
with her real worth and |
wonderful development, and instead OF /
our people being borrowers from other /
nations they will become the bankers for |
the entire world.
In closing this article we most emphat-
cally assert and believe, that II has been |
fully demonstrated that each and every !
objection that can be urged against the |
Tree and unlimited coinage OF /
silver could with equal force be
urged against the free and unlimited |
coinage OF gold. That the opprobrium
cheap money that the opponents OF
Tree silver have attempted 10 fasten upon