Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1891-11-07
oTIs's NEW FINANCIAL SYSTEM.


Ihave perused with some interest the
elk paper money" bill of Congressman
Otis and his defense of the same pub
lshed in the Capital and must say
that if the .'biIl" and the "defense"
we're not published over his signature
I should think you had prepared the
whole business as joke on the con-
gresham. Is it possible that the peo-
pie of your congressional district elected
to the high Office of congressman
man who will argue that this seven bill
lions of silk paper money will increase
the value of hogs, cattle, horses, wheat
corn, groceries, clothing, labor, ETC.. and
not increase the value of gold and sill
yer? Suppose the labor which enters
into and becomes part OF present val
ne of the gold or silver dollar is only
so cents with the circulating medium at
only one billion as they claim and his
seven billion should be issued would
not that labor which now costs so cents
be increased in value in silk paper mon
sy lust seven times what it is now?
Then if the labor to produce a gold
dollar is to cost $3.50 how lie Congress
man Otis to induce the owner of the
mine to allow the government to coin it
into one dollar. Would the congress-
man be willing to operate all the gold
and silver mines Of the United States,
pay $3.50 for the labor that produced
him gold or silver enough for 81. and
allow the government to coin what cost
him in labor alone $3.50 into only 81?
II this enormous issue OF silk paper
money will increase the price Of labor
in the same ratio it does other articles
it must increase the value of the mate
rial out of which the gold and silver
coins are made, and hence the silk pa
per money must depreciate as compared
with coin. II the system" will not in.
crease the wages of the lsborers, but
will increase the cost OF everything the
laborer must eat and wear, how will it
benefit the toiling millions about whom
he seems so much concerned? If his
paper money is going to depreciate in
cattle, horses, hogs and corn, how will
he keep it from depreciating in coin :?
Can he make it buy less corn without
making it buy less coin? Wouldn't it
seem absurd If he should say that who.
sver should advance the price of a
bushel of corn in this money, above
what it's general price is under the pres
emit circulating medium. should be
ssined and imprisoned the same as for
counterfeiting"? And yet that is just
his position. His bill provides that
any person who shall offer to sell gold
or silver for more than its present value
shall be punished as criminal! He
talks about intrinsic value OF dollar
in q foolish way. He Gays that it is nc
more essential to have an intrinsic value
in dollar than it is in q par OF scales
a bushel measure or yardstick. The
dollar is a measure and pledge Of value
while the pound is OF weight, the bushe
of quantity and the yard of length
How would he like pound without
weight, q bushel without quantity, OF
a ward without length. When the peo.
ple get reformed" to that extent that
they can satisfy themselves with
pound that don't weigh anything,
bushel that don't measure anything
and yard without any length to it,
expect to see them adopt the use OF
measure, sign and pledge OF value tina
is not worth anything.