People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1892-09-30

/ Oy more tnan twelve million dollars.
When, joining the forces of Vir-
ginia, West Virginia and Tennessee
to those already mentioned and pit
ting them all against New York, the
proportions standing as follows in
1880: Land. sixteen to one, labor rep
resented by population, four to one.
andcapital one and One-half to one
we find that New York has increased
her wealth during the past decade six
millions dollars more than the entire
fifteen states combined.
And once more, when adding Mis-
souri,, Arkansas, Ohio, Maryland, Del
aware and South Carolina, making
twenty-One great states of the union
and comparing them with the nine
small New England states. the rela-
tive proportions being as follows:
Land, six to one, labor two to one,
and equal capital, we find that New
England gained nearly double the
wealth of the whole twenty-One. In
1880 the twenty-One states had fifty
six per cent. of the total population
and were able to keep but twenty
three per cent. Of the total wealth
gain. The nine had % per cent. of
the total population and were able to
save II per cent. of the total wealth
gain.
If this is caused by nursing ''infant
industries" >" don't you think neighbOr,
that they are pretty expensive
"kids?"
Prof. Gaines, nor any other Peoples
party speaker, attributes the cause
wholly to the tariff. 1t is only one of
the many class privileges that are aid
ing in this wholesale robbery.
The paper above mentioned also
makes sport of the statement pro-
claimed by its great idol, Senator In
gals, that money is the creation of
law" and innOcently and ignOrantly
inquiries, IF this statement is true,
why not have this government stamp
upon paper, say ten trilliOns of dollars
at once and thus become the richest
nation on the globe"
This benighted individual certainly
did not expect intelligent people to
profess so much ignorance as is con-
tained in the above remark. Oh, We
ignOramus, know We not that money
is not wealth, but merely a represen-
tative Of wealth. The government
might issue 1000 trillions and still
not create a particle of wealth.
Hear your idol proclaim the truth.
! Senator ingalls, said:
The people Of the country that | represent
have lost their reverence for gold. They
have no longer any superstition about coin,
Notwithstanding all declarations of the
mOnOmetalistS. Notwithstanding all the as
SaultS that have been made by those who are
in favor OF still further increasing the value
of the standard by which their possessions
are measured, they know that money is
neither wealth nor capital. nor value, and
that it is merely the creation Of the law by
which all these are estimated and measured.
We speak, sir. about the volume OF money
and about its relation to the wealth and cap
| ital of the country.
| Let me ask you. sir. for a moment, what
/ would occur il the circulating medium were
to be destroyed. Suppose that the gold and
silver were to be withdrawn suddenly from
circulation and melted up into bars and
ingOts and buried in the earth from which
they were taken-suppOse that all the paper
money. silver certificates, gold certificates,
national bank notes, treasury nOtes-were
| stacked i'm one mass at the end OF the treas
! ury building, and the torch applied to them
and they were to be destroyed by fire and
/ their ashes spread. like the ashes Of Wick
/ life. upon the Potomac. to be spread abroad,
wide as its waters be. What would be the ef-
/ feet? Would not this country be worth ex-
actly as much as it is tOdayf Would there
not be lust as many acres OF land. as many
| farms as many days Of labor, as much mer--
| chandise and as much property, improved
and unimproved, as there Is today!
| The result would be that commerce would
| languish, the sails Of the ships would be furl-
ed in the harbors. The great trains would
cease TO run to and fro upon their errands,
trade would be reduced to barter, and the
people. finding their energies langulshlng;
civilization itself would dr00p, and we should
be reduced to the condition OF nomadlc wan
derers upon the primeyal plains.
Suppose. on the other hand that instead OF
being DESTROYED. all the money In this c0un-
| try were TO be put in the possession OF SIM
gle man-gold and paper and silver-and he
were to be mOOred in mid-Atlantic upon a
raft with his great hoard. or be stationed In
the middle OF the Sahara Desert without
food TO nOurish or shelter to cover, or the
means of transportation 10 get away Mho
wOuld he the richest man, the p0ssess0r OF
that gigantic treasure. or the humblest set
tier upon the plains OF the west with dug
ont To shelter him and with corn meal and
water enough for his daily breadf
In the face of all such evidence and
reason the Herald points with an all
of "you can't do it; its impracti'
cable" to the failures of fiat money
heretofore.
There neyerhas been any real fiat pa.
per money issued by the government
| All are well aware that paper has al,
ways been based on coin, and coin be-
ing the final redeemer, has therefore
commanded a premium. To this
fact alone does paper owe its deprecia-
tiOn. Coin being full legal tender,
paper money being only a partial le'
gal tender deprecated because
of this shortcoming. Make paper
money full legal tender, demonetize
coin and common reason will convince
anyone that coin would depreciate at
onco 20 e., ,,,oro commodity Valup