Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-08-05

duced by the labor of man, thus reducing the
price OF oil commodities, arresting enterprise,
impoverishing the toiler and degrading man
kind. That these results were not only tnevit-
able but foreseen, appears from the following
language, used nj that time, by the then presi-
dent OF the Bank OF France, whU said: IF by
O stroke OF the pen they suppress one OF these
metals, they double the demand for the other
metal, TO the ruin OF all debtors" And
Whereas. The awful consequences thus
prophesied nre now upon the people OF the
whole world. We stand In the midst OF unpar-
alcled distress and In the shadow OF impend.
ing calamitics which are beyond estimate. Tho
ruling industry OF the people who inhabit one
third OF the area OF this republic has been.
stricken down, the property values destroyed
and the workmen compelled 10 fly Us from pes.
thence Everywhere over this broad land hon.
est toilers numbering thousands have been
thrown out OF employment and will have to eat
the bitter bread OF charity or starve: the prod.
ucts OF industry, Of the farm and the workshop
have deprecated In price rs shown by Of
fetal and public statistics until production
ceases TO be prof. table. the money OF the coun.
try inadequate for the business OF the land,
hos gravitated to the banks; while the people,
distressing the banks have demanded their de-
posts TO hoard or hide them mercantile houses
are going to the wall bv thousands because the
masses have not the means 10 buy even the ne
cessitics OF life; to supply The lack OF currency
the banks OF the great cities have issued
substitute Tor money, unknown 10 the laws,
called clearing house certificates; the move
ment OF III. great crops, now being gath.
cred, demands u vast amount OF currency
which the banks are unable to furnish,
and In the midst Of these conditions the
daily press Ii clamoring for the repeal OF the
nsf nfI uiv n 1901 enlled Sherman nj
though the repeal OF that means the stoppage
Of the issue OF more than .30N0W OF money
every month, thus shutting of the supply OF
funds for the business OF the country In the
terrible conditions which surround us, and ig.
noring the fact that TO hold the balance level
between debtor and creditor the supply OF cur.
rcncy must increase side by side with the in.
crease OF population and business and In this
nation the growth OF population Is NJ the rate
OF about 81 per cent every Ten years, while the
increase Of business is greater; and,
Whereas. The great expounder OF the consti-
tuition, Daniel Webster. said: Gold and silver
ut rates fixed by the congress, constitute tho
legal standard OF value In this country. and
neither congress nor any state has the author.
ity 10 establish any other standard or TO dis
place that standard" ana,
Whereas. Hon. james G.. Blaine, quoting
this utterance adds: ION the much veXed and
long mooted question OF u bimetallic or mono
metallic standard, my own views are sum-
GENTLY indicated in the remarks ! have made.
/ believe the struggle now going on in
this country and In other countries for single
gold standard were 1t successful would
produce widespread disaster throughout the
commercial world. The destruction OF silver
as money and establishing gold rs the sole unit
Of value must have ruinous effect on oil forms
OF property except those investments which
yield fixed return In money. These would be
enormously enhanced in value, would gain
disproportionate and unfair advantage over
every other species OF property. IL. as the
most reliable statistics affirm. there ara nearly
sI,OJD 200 Of coin or bullion In the world.
very unequally divided between gold and silver.
IL is impossible TO strike silver out OF existence
as money without results, which will prove dis
tressing TO millions and utterly disastrous TO
tens OF thousands. Again he said Il believe
gold and silver coin TO be tho money OF the con-
sIitulon-indeed the money OF the American
people anterior 10 the constitution which the
great organic law recognized rs quite independ-
ent OF its own existence. No power was con-
ferred on congress 10 declare that either metal
should not be money Congress has. therefore,
in my Judgment, no power to demonetize both.
II, therefore, silver has been demon
etized, / am In favor of remonetizing II. II its
coinage has been prohibited l am in favor OF
ordering II TO be resumed. l am In favor OF
having II enlarged" And,
Whereas, The present secretary OF the treas
ury, on the floor OF congress, February II. 1876,
said: II know that the worlds stock OF pre-
:ous metals is none too large, and see no rea-
son TO apprehend that 1t will become so. Man
xind will be fortunate, indeed, II the annual
production OF gold and silver coin shall keep
pace with the annual increase OF population,
commerce and industry. According to my view
Of the subject, the conspiracy which seems to
have been formed here and In Europe to
destroy by legislation and otherwise from
three .sevenths 10 ons-half Of the metallic
money OF the world Is the most
gigantic crime OF this or any other
age. The contamination Of such scheme would
ultimately entail more misery upon the human
race than oil the wars, pestilences and events
that have ever occurred The instantaneous de-
structon OF one half the entire movable prop
erty OF the world, including houses, shops. rail-
ways and all other appliances for carrying on
commerce, while II would be felt more sensibly
at the moment would not produce ything
like the prolonged distress and Reorganization
OF society that must result from the permanent
humiliation OF one.half OF the metallic money
OF The world" and,
Whereas Senator Sherman, OF Ohio, who
more than any man Is responsible for the de-
monetization OF silver. clearly understood the
evil consequences o. shrinking the currency be-
low the legitimate demands OF the business OF
the country, us evidenced by what he said In
the senate In 1859 to.wlt: THE contraction OF
the currency Is fur more distressing operation
than senators suppose Our own and other
nations have gone through that opera
ton before. II Is not possible to take
that voyage without the direst distress To
every person except capitalist out OF debt or
q salaried oficer or annuitant, 1t is period OF
loss, danger, lassitude OF trade, fall Of wages,
suspension OF enterprise, bankruptcy and dis
aster. II means the ruin Of all dealers whose
debts ore twice their business capital, though
one-third less than their actual property. 1t
means the fall OF oil agricultural productions
without anv great reduction OF taxes. What
prudent man would dare TO build house,
railway or barn with the certain fact before
him.
Therefore, In view Of all these facts, we de-
clare:
First-That there must be no compromise OF
81. AAxa 81 tWT Qtl