Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1892-02-04

ofton 10 those whose solo surplus Is the lone
deposit in Il savings baak. IL will be seen
that 1t is worry largely the great corpora
lions which would reap whore they have not
sown.
The fact that all loborers, whether work
ing ny the day, month or yenr, belong
practically to the creditor class, is also
stoaIthiy ignored; but American men and
women arc not easily hypnotized, and would
soon learn the difference in tho value Of
their wages when received and expended I'M
dor silver standard.
The silver tongued orators promise to give
Us silver, cheaper money, and in the next
breath promise to bring it up to the par
of gold. Somebody is to be cheated.
Who is it.? One promise or tho other must
be false.
Tho slanderous tales concerning the
amount OF mortgage indebtedness OF farm
ers turns out to have been "a wicked exag-
geraton OF big lie based on a little truth.
Tie major part of such mortgages has been
made with the deliberate foresight of buy
ing and holding land for its increment or
for its future increase Of value; and the
parties. for the most part, will not be dis
appointed The old custom of 90 years ago
among tho farmers OF barter or OF run
ming account with merchants, payable at
the close of the year in truck or by promis-
sorry note, is obsolete, and for whatever
farmers have to buy or sell payment Is now
nearly always made with cash on the spot
A careful investigation would show that
there are in almost every State more farm
ers having debts due them than there arc
farms encountered by mortgages; and there
is no class of our community more industr-
Gus aud economical or moro obedient to the
Of
thing" than that of the farmer
Finally, this silver bureau threatens the
country desperately al an extract from one
of tuor circulars will show, as follows:
''That il silver cannot be romonetized, gold
! viii be demonetzed and paper substituted
! Tor both gold aud silver. The people will
not be destroyed for want Of money. The
gold trust, by rejecting one of tho precious
me tals, has taught how both may be eject
ed. Tho radicalism for contraction is in
danger of being met by a radcalism for in
| nation.n
The impotence of this rather clustering
threat Will be apparent when it is remem-
bered that the fiat paper money party,
which proposed to pay the public debt in
paper, left neither heirs nor estate to per-
petuate its brood or its lunatic memory.
It's quachery 10 also made conspicuous by
the assumption OF supreme power to do
whatever OF harm or mischief they choose
and by the declared purpose, II they cannot
have silver they will not have gold, but will
jump TO non metallic money and initiate the
country with flimsy food OF unredeomable
dag paper money. II the bad is not to be
had, then, copying from MIltons Satan,
Evil be thou my good" they propose to
have the worst. II they cannot have the
measles, then they Will have the small pox /;
auI # they cannot so to pursatory they
Will 30 to hades
W lils the bold pretense is made that there
10 u lack of money in circulation, unques-
tio,ably the foremost effect of unlimited
FIRE, coinage Of silver would be a premium
on gold which would prompt its universal
| withdrawal from circulation, and thereby
, produce real and fundamental lack oil
j money in all parts of our country; creating
} 4 itrngancy of greater severity, perhaps,
ulan any hitherto known. Tho nasSage OF
san an act would DO the danger signal to-
everyone to Save hima.lf who cam and
, thus iloculate the magdy it set ouc to cure.
Collaborating would become IA national cpl
dem'c. Ihe payment of gold cert! icate:
would be sw.tuy demanded at the treasury
Ivy the holders | litcl States notes would
be- seat there in ilocks for redemption, aul
he hundred million redemption fund might
grow beautifully less and bs soon exhau,te
leaving two hundred aud forty-sin million.
UureIosned, as well as the whole series o;
silver certificates and treasury notes. with
nothing; in sight for their redemption but
tae N-cent silver dollar. Certainly our
sold eagles, snubbed at homo, would &c
abroad where more justly appreciated Til,
: withdrawal Of our present national stock o.
six hundred and seventy millions of gold
. being larger than our present stock OF sill
yer, ircm the money in circulation, coulC
not fail to create such stringency and tinan
cial distress rs no lover OF his countr,
wouil wish to behold. The superior valu,
or gold abroad, attracting brisk exporta
ton, would proiuc1 large contraction
, not only OF tao money for ordinary hom
business, but the demand for gold contract.
could only be supplied by tho payment o
extraordinary premiums.
With robust audacty and obstinate mis-
information some of the silver ORGANS stl
I assume that there is Il great want Of none,
IN our country, when III truth money her
has never been more abundant nor mora il
circulation per capita than at the preseu
time, and it is also increasing at the raje o
| 500 600, 900 annually, having increase,
since 1889 over $40, 90, 900 The increase /,
t-c month OF OCTOBER last was over sf3O 900
O0O. Tuore is in circulation as none NOR
D than twice as mUcA as we had in 1878. W
/ then had ,:,20, l33, G34, COMPARED with Jul,
| !, 1891, when we had 81, 500, U61. 80. no
! including any part Of what was held in ii.
> treasury. The circulation per capita il
! 1873 was $l5. 80 against S24. 30 Dscembs
70 /, 1891, or greater than in the most pros
: porous years of our history. Even vii.
our extraordinary crops OF the present yea
= OF corn and wheat, OF cotton aud Tobacco
there Is no visible lack Of money in an
4 quarter to move these vast crops to marke;
These Simple but indisputable facts gho
/ how easily the historical tears fox the wan
= OF money can be made to dry up.
r From tho universal American habi
, among all business men of using their owl
= checks, on banks where they have deposits
. as substitutes for money, there is less of lega
, tender money used or required per capita il
/ the United States, in proportion to Its inl
i monse business, than In any other COUNT
e OF the world Nearly every smart town i
. the country has las bank. Tho bank credit
r subject to chacA April 1891, were 81, 6J4,
. UJO, 900, and savings banks deposits subjec
S to check, with various conditions wer
. 81, 52I, OUU 600. Together these institution