Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1892-09-07
Remarks OF Hon. VIM. A. PETER, in the
Senate, January 81, 1899.


Senate, January 81, 1899.
/ When banks suspended specie paw
ments, it was because they had no
enough money. When our Government
i, suspended specie payment, it was be
cause we were short on money. Wher
the panic OF 1873 came with its food o.
destruction. it was because money wa.
: scarce; there was not enough to be OBJ
talned by men who we're in debt, though
many thousands had good security to
offer. When Earrings failed, it was be
cause they were short on money, and
whenever and wherever we learn OF
financial disturbances, we know it is
because there is not enough money tc
carry on the business of the people
Every great monetary crisis reveals the
fact that money is scarce: but not one
case in all history can be cited where
any people ever suffered harm by reason
or having too much money. Give the
people an abundance of money AID you
give them energy; thrift follows. and
the country grows. Take away money
| 49, DAAA6 A0AAs W O4C .. w lUD
plenty of money the people prosper:
without enough, prices fall, labor is
without reward, the poor grow poorer.
Another thing: T!ey who suffer most
from money panics are they who can
least afford to lose-the poor men and
women whose living depends on their
daily earnings. To the poor man the
loss OF day may bring him TO want.
10 Inc poor woman whose wages bare
~ sustain life, the loss of an hour tells
IN the next meal she eats. And the
great fact grows more apparent as the
| cruel lash of the civilizer falls upon ITS
victims.
AS the young years come to us. as we
welcome them with song and PRAYER.
we do not stop to think how much the
inventions and devices of the time will
take from the earnings of the toilers
Once woman received so cents for
making mans shirt; now she makes
dozen for that amount, and lives in
the borderland of want. Once a shoe
maker received So for making a pair of
shoes; now he attends machine which
makes only part of a shoe. a very
small part indeed, and his EMPLOYER
sells the finished article at 81 cents to
20 cents pair. We are dlversifyinp orr
employments, we are dividing and sub
dividing work on particular things, we
are multiplying devices to cheaper pro-
ductlon, we are driving the worker on
TO smaller margins of profit every wear,
diminishing his resources continually.
taking away from him his detenses.
weakening his influence in society. in
politics, and religion, narrowing the
field of his effort, increasing wants.
While refusing to add to his means of
satisfying them. The demand for mon
ey is the appeal of toll
Men and women who work in the
fields, in the shops and factories. on the
highways and in the mines, these. who
OF all the world should first be paid
these nation. builders - they whose
hands have fashioned all that we see of
labor's work about us-theyask for mon
ey, more money, that the land NAV
bloom again. And that vast and grow |
ing army of men and women to whom
the sunshine is shadow. to whom the |
coming day throws gloom ahead. to |
them what gladness would come with
the beginning of reign of plenty. How
many idle men and women in this. the |
clty OF Washington-men and women |
begging for employment? They walk
the streets, they besiege congressman
and Senators, they swarm about the
capitol and in the corridors, asking for
something to do. Nine of eyerv fen
persons OF these thousands are honest
~ seeking employment that they NAV
earn a living.
A large part of the correspondence of |
the members of this body and of the
other house is made up of appeals for
assistance in one form or other. FuIlv
tWo-thlrds of the bills which have been
introduced in the senate during the
present session are bills asking for spe-
clal pecuniary relief. And this condi-
lion grows and spreads. These people
JOIN the popular clamor for more mon
ey. How much conditions would be i'm
proved by large increase of circulat-
Ing money, no man would be brave
enough to state; but that progress and
thrift have uniformly been contempo-
raneous with large volume of money
actually circulating among the people is
fact of history. No man doubts that
with large increase of money put into
the channels of trade revival of bust
ness would follow and the labor of the
country would be Employed; farming
would pay, and we should have good
times" again.
Let 1t be understood, however, that it
IS not only more money that is demand
ed. Two other things must be done as
we'll. First, the money must be put in
circulation; and second, it must be kept
here. These things can be brought
about in two ways: ~ Lend the mon
~, with reasonable limitations, to
needy persons who can offer good secur- {
ty against loss; and ~ reduce the rate J
II interest so that it will be below rath- i
n than above the average profits on la
'or when employed in farming and 9th
n industrial pursuits. This will insure s
he absorption OF large amount of '
money, and it will prevent its return to
money centers; because in that case t
nen can do as we'll in any of the ordi-
Iary Vocatlons as they can in lending t
money. These desirable conditions