The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-08-04

On the other hand, silver mining has become an
established industry, its production has devel-
oped and peopled a vast area OF country COM
prising whole states II is permanent IN char
acter, IL requires skilled labor and vast out
lays of capital to successfully engage In It
The processes Of extraction and reduction OF
ores are costly and dificult 1t calls into ex-
istence all other forms of industry to support
It 1t builds up communities, makes towns
cities and even states, sustains millions OF peo-
pie, gives trafic TO railroads and pours stream
of pure wealth into the channels Of commerce,
untainted by suffering and unstained by greed
We therefore maintain that the only way 10
ascertain the true cost Of the production OF
both metals is to balance the total value OF all
the time and labor employed in producing
them against the total value Of the combined
product And we see that on such basis
every ounce of silver. as well as every ounce OF
gold costs more than its statutory value and
that these pursuits are largely followed on &C
count OF the prizes and hazards OF fortune,
which are so captivating to the disposition OF
mankind We also say further, that II the fiat
value was taken from gold, it would be worth
but little more as commodity than silver.
Demand More Money.
1--WE iterate the oft repeated but always
true proposition that there is not enough gold
in the world upon which to transact the worlds
business, and while the trade and population
are steadily increasing the gold available for
coinageis steadily decreasing. The truth OF
this assertion is borne out By the panic now
upon US. There is plenty Of everything in the
world but gold and everything is cheap but
money. The gold is boarded, locked up in the
vaults and treasure boxes OF the country
while property OF all forms Is rendered value
less, and checks and drafts no longer perform
their accustomed functions 1t Is the knowl-
edge that gold Is scarce and insufficient in
quantity that leads to the scramble for 1t
among the nations and individuals, and ii is the
withdrawing and boarding OF II that brings
panics. And in this connection we call atten-
tion TO this important fact, viz: That At least
40 per cent of the entire gold production Of
this country is the by-product OF the silver
mines, so that the closing of the silver mines
would reduce the amount of gold available for
coinage TO this extent and thus further in
crease the danger and dis tress arising from q
scarcity Of gold.
sherman Law Wrong In Principle.
1--WE concede that the Sherman law is wrong
in principle because IL degrades silver into
mere commodity to be buffeted about by
prncipled spectators. At the same time the
treasury notes issued under the provisions of
that law have been of inestimable ben
eft in increasing the circulation at critical
time and thus preventing disaster.
ITO repeal this law Internationally would be
20 destroy silver forever. and would be playing
directly into the hands of the advocates OF a
single gold standard, and contracted cur
rency 1t would be the cruelest blow ever
struck at the rights Of the great mass Of the
people, and particularly at the debtor class, for
it would enormously increase the purchasing
power Of gold, and correspondingly lower the
value Of all products and every other form OF
property. The Sherman law was never IA
vored by the advocates of free silver coinage,
but, bad Us it is, IL is now all that remains be-
tween the desires of the gold standard men and
flza tf<r, - tIafx. lRoh de nd
must be retained in the interest of the common
people until something better is conceded in It's
stead.
Favor Both Gold and Silver.
1--WE are in favor of both gold and silver as
money to be coined upon equal terms at the
ratio of 10 to I. This is the money which the
fathers of the republic bequeathed to US. 1t 10
the money Of the constitution For eighty
years we thrived and prospered with this cur
rency. 1t was destroyed at the dictation OF
England and Germany through their agents in
this country and in the interests OF the creditor
class, those with fixed incomes and annuites.
We now demand that it DO restored again 70
the place where the fathers left it, in the inter-
est OF the whole people.
''The constantly repeated charge that the sill
yer dollar Is a cheap dollar is so manifestly
illogical and absurd as TO render il unworthy of
notice among intelligent people. There are no
cheap dollars A silver dollar will purchase as
much as gold dollar or any other kind OF a
dollar. Equally untrue is the statement that
the government has lost money upon its silver
purchases, because of the depreciation in its
pricd The facts are that the government bas
made n nrost Amounting 10 more than sion OO0
90 on its silver purchases under the Bland and
Sherman laws, being the difference between
the market and coming value And this prof.
has cone 10 the credit Of tho neonle because
with !, tho covernment has n.id i,s current ar.
no,sos ord ohlig, lions ord all ,bair siIvsr
a;,ho- ~, f,so,, or ~, i,s ,a,or ronreso-,a,i,
10 q, crlatior ,o.dar hearino nc h,,rdons .,
tr,ds nsrfor,n;n, ,Le t,-,c,,ons ~ ,nonaT,
Who The go,d 10 Ioc,,ad mn Il, ,he ,,,n,ts q, me
,nonov Ling. II "a gold t,a, 20 hoardsd NO,
silver
Great Britain Blamed.
ave are filed with a great and lust indigna-
t,on that our country. OF which wf, are 40 proud
strong in its credit and wonderful beyond ex-
pression in its rich and varied resources IL We.
90 vveal, and u,settled in i,s financial system
that England can in a day. nv the dishonest
manipuation of the CURRENCY of far-ofr India.
hiring unon tbt. people of free America a panic
which without a mopent's warning transforms
n bannv and prosperous neonle INTO communi-
ties Of comparatiye paupers Such condition
IA humiliatinq bevond words To convey 1t il
destructive to the uride and faith which as
loyal citizens we have so long and dearly cher
ished in our government we warn those in
this country who are wagiur this uniustitable
war on silver "a money that they are casting
a boomerang which will return to crush them
They NAV destroy the property of a grea, and
growing section of our country and bring pow
erty and suffering upon some millions of their
fellow citizens. but the return tide will carry
with IL hundreds of millions OF securities in
the form of railroads. state county. and NUM-
cipal bonds, made worthless by their narrow
policy and selfish greed The signs are not
wanting TO prove the truth Of this assertion.
even thus early, and unless the gold contrac-
tionis,s are defeated In the coming session Of
congress, we believe that within year there
will not be a railroad west OF the Missouri
river that will not be in the hands of a receiver
last apocaI for silver.
,.o- .,,,,s.., "a ..,,a,,oa, ,a,-s o,.s, ,h.