The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1892-09-23
SILVER AND COINAGE.
Ex-Gov. George t. Anthony Answers
Some of the Peoples Party Leaders
Schemes For Flat Money.

some of the Peoples Party Leaders
Schemes For Flat Money.
-. The populists of Kansas have de-
clared in favor of free coinage of silver
dollars containing one-third fat and
two-thirds silver Inconsistent as they
have ever been, they depart from their
clear fat long enough to make an ex-
eeption in this on instance. hoping
however, to make fat paper money
enough to build up premium on even
60-cent silver dollar. Ex-GOv. George
T. Anthony has met this question of
silver coinage, the following extracts
being taken from his New Orleans
speech:
They tell us that silver fixes the
price of labor in all the fields of human
toll; that it determines the price of all
the productions of labor in the world;
that it is the basis OF credit, the source
of value and the foundation rock upon
which all human prosperity is builded
Oh. what nonsense. The hens of the
United States of America deposit 4
value. in eggs. every year greater than
that produced by all the silver mines of
y
ling nor growing from our feathered
benefactors that the hennery fixes the
price of everything else on earth. Let
us get the poetry and nonsense out of
this subject, if we can, and come down
to business
"Let me now lay down, as the fOunda-
ton upon which to rest, this fundament-
al doctrine that will not. l believe, be
questioned by any one within the sound
of my voice this forenoon. 1t is this:
That the cost Of every product result
ing from the labor OF man is fixed and
measured by the amount of labor in
vested in its production No matter
whether it be silver or gold, whether it
be rice, cotton or corn; articles wrought
by the skilled fingers of our wives and
daughters, or the hand of arti6cer and
mechanic, each and everything pro-
duced has its cost measured by the Ia
Dor required to produce it. This is the
cost. now what is the value of the thing
produced to it's producer? The value is
determined by quite a different law,
measured by quite different standard
the necessities of those who require
the products of others to meet their
own wants
Cost is determined by labor invested
, in production; value by the necessities
of the consumer; profit or loss by the
memorable law of supply and demand
As production increases in ratio to con-
sumption, values go down; as consump-
ton increases in ratio to production,
values go up This is q fundamental
law, and l stand here in the face of the
world to say that you cannot draw any
distinguishing line, any line Of denmark
alton or of discrimination, across the
great field of human production, in
favor of silver or anything else, with
out committing a crime against man
kind. Each and every industry must
stand upon this common foundation,
/ this solid rock of industrial ethics.
Right here we meet d determined
resistance to this natural, fundamental
law of equality, governing industrial
/ pursuits. 1t is claimed that silver has
| something mysterious about it; that
royal blood percolates through its
veins, or through the veins of the mine
owners; in Difference to which the gov
eminent must step in and say: The
price of silver shall not be determined
/ By its value in an open market, but by
/ the fat of law. The congress of the
/ United States must provide a market
for the silver product of the world, at
an arbitrary, fictitious value, regardless
of the law of supply and demand, to
/ which all other productions of industry
must submit"
/ The free silver man says Of our gold
, eagle:
"'Obliterate the stamp and 1T ceases
to be money How ridiculous this, in
the eyes of the law. You can bore into
/ the eagle and take out a portion of its
metal, or chemically sweat it off
from its surface, leaving the stamp i'm
pressed upon it in all its artistic per-
lection, and then take il to the gov
eminent and say, here is your gold
eagle with its legend perfect, here is
the first brand of the United States OF
America, L Pluribus Uuum and all,
and the government says, oh, yes, that
is all there, but we will only give you
3 SEVEN uOlAdES lOE llldI lCu NDAAAE gnu
piece, all the same
Now, a word about paper money.
What is it? 1t is the promise of the
government, or some one else, to pay 2
dollar. 1t differs from coin money in
this: That it represents debt instead
of wealth. One is measure of value
by reason OF the value contained in it
The other is the equivalent of value by
reason of the guaranteed pledge of re-
demption in actual money expressed on
its face. Paper money is promise to
redeem, secured not by gold or silver,
but by property, lands and tenements,
and redeemable in gold or silver. Coin
money contains no promise, needs no
redemption. II cares for itself because
it is the substance of value, not repre-
sentative of value"
WHO is RESPONSIBLE?
Responsibility of the Democratic Party
n .E,r.