Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1892-10-28
"lf South Dakota farmers want mo,

w 00OtO 10 q 40lA S0ttlkAO Va CuO 0lkNNI
ments'' that independents resort to in
order to capture votes. They evident
ly regard farmers as dupes. A cum
ming man representing a bad cause will
dodge the issue every time.
Will the Aberdeen hyphen be kind
enough to answer the following ques-
tions? How do you propose to increase
the amount of money in circulation,
by free coinage or by the issuance Of
fat money?
Wherein would the farmers of
South Dakota be benefited by either
free coinage or the issuance of fiat
money?
Do you recognize any difference be.
tween money and wealth?
What is money?
After u junior senator has an
swered these questions to his own salts
faction, we invite him to go back with
us and examine the history of fiat
money on this continent. We defy
you, Senator Kyle. to point to a single
instance from the time that the first
paper money was issued by Massa-
chussets in 1890 down to the present,
when any Of the colonies or the United
States ever issue an lrredeemable paper
currency that did not work a hardship
upon the people IN general and upon
the poor people, the toillng masses, in
particular. An irredeemable paper
money has always been deprecated.
Does senator Kyle maintain that when
things command a high price every
body is prosperous? How was it in
the year before the close of the Revolu-
ton and the organization of the feder-
al government? In those good times
the continental paper money was SO
deprecated that it was practically
worthless. and yet with all this cheap
money, instead of being a prosperous
period it was the gloomlest In our his
tory. After the federal government
was organized, this continental paper
money was redeemed at the rate Of
forty dollars in paper for n dollar in
specie. The soldiers that had fought
the nations battles. the citizens that
had contributed to maintain armies in
the field we're thus reimbursed one.
fortieth, presumably. But after all
they lost more and money sharks
reaped a big harvest in the needs Of
the common people.
Take, if you please, the panic Of
1887, another period Of almost univer
sal stagnation and depression. Mr.
Blaine attributes the panic of 1887 tt
the lowering Of the tariff, principally
But any one who studies that period
carefully will see that the enormous
imitation Of the currency by means o
the so-ca;led wild cat" bank issues
was more than anything else response
BILE for the financial disasters that over
. whelmed the industries OF til natiol
: in 1887. To come nearer home, silve
was demoneatized in 1873. In th
same year followed another panic. w
i, simply ask if there was any ~connectiol
S between the two events, or was j
! merely a coincidence? This tinker
g ing with the money has new resulte'
in good and has always worked mis-
chief. 1t makes not so much ditferenc
Z whether we have a gold standard or b
t metallism. But changes by unsettlin
( business and bringing in an elemen
Of uncertainty must inevitably prov
t disastrous.
But capitalists r opposed to FIRE
y coinage and for that reason is FIRE
coinage the penancea for all ii
wrongs Of downtrodden labor? Cap
r tai opposes free coinage because
o would be a detriment to capital. BIZ
20 anu mon hl;nd ononoh MT IN ee