Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1893-11-16

'S'"so w 0OuuA O0uAAuk, ID ouVA0ly uu
necessary IN view OF tho facts themselves.
What United States Senators Say.
Speaking OF the real amount of money
in circulation, under ordinary conditions
and not in times OF stringency, as the
present, Senator Vest of Missouri. says:
'The Sherman law is repealed, and the
currency OF the country is contracted
$4O.OOO,O0. We are a young undevel-
oped country needing money, that is,
money in circulation. worse than any
country IN the world. The etatistician
of the treasury gives it out that there is
S24.4o per capita IN this country. THIS
is misleading. When the gold reserve,
which is not in circulation, and the silver
stored up in the treasury vaults, aud the
$500 and $1,000 bills which no more cir-
culate among the people than do certl-
fled checks for large amounts, are taken
ont, the real per capita is about $l4.
This couatry is increasing IN population
at the rate of 3 per cent year. TO con-
tract the circulation under these condi-
tiOne, therefore, means ruin and dis
aeter.'
Senator Pettigrew says: 1T is absurd
to think that this country can get along
without constant increase OF circu-
lating medium. That increase can only
keep pace with the growth Of population
by the coinage OF silver. We have now
stopped the silver coinage, and the re-
suit is to enhance the value OF money
now IN circulation, which makes the few
men at the top wealthier and the great
mass OF us at the bottom poor. That is
common sense view of the financial
policy OF the uatloc. The people by To-
tnition have long since leprned that sill
YER HIS nothing to do with the present
depression in business, and it Is only the
newspaper people and the gold power
which do not seem to have arrived at the
samo conclusion.
1.-The Sherman law was not responsible
for The financial panic. II anything, the
Sherman Law held the panic off for two
years by giving 10 more money. The
trouble with this country has been that
we have permitted Europe to send half
million emiRrsnts here almost every
year, and while our population hss been
increasing at rapid rate, there has been
no addition to tho volume OF tho our
rency that 10 largo enough to sstisfy the
need tor money. 1t il like bringing in .
large body Of workmsn but giving them
no tools to work With. 1t 10 the masses
OF the people OF THE country that want
tho money question settled 90 they will
REAP a proper benefit; 1t is the bankers
the rich and favored few that want gold
to rise and don't care for the comfort OF
the masses. The bankers weren't 90 much
afraid of the silver purchases Of the gov
ernment as they were Of the healthy de-
r,osits of the people in their banks. One
thing can say with firm belief and that
is that all the patriotic service OF Gen.
Sherman for the country has been over
csme by the accident Of birth and the
infamy in the life OF his brother, Senator
John Sherman.
1.-The people are on tue right side OF
this silver question, and they will send a
majority OF free silver men to congress
after the next campaign. But during all
tkis silver discussion in the senate the
press Of the country has been not only
unfair aud dishonest in it's treatment of
the free silver men, but it has resorted to
vile abuse and scandalous denunciation.
The corrupt mon OF the press are the
newspaper proprietors. 1t is coming to
be almost certain that when any great
question. like silver, is beng discussed a
public man who does not happen to suit
the ideas Of some few rich newspaper
proprietors will find himself the object
OF mean, low abuse. With all their abnse
and misrepresentation, newspapers can
not control public opinion. let alone
mold it, in this free country"