Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1893-12-29
GAMERS OR LOSERS.
HOW PANlCS ARE PECNlCS FOR THE
RICH SPECTATORS.

Dangers 81 Tinkering With Currency Sys-
tems-Ionest Industry Pays All Bills.
Populists Bunkoed by Silver Mine Own
ers-ValI Streets Friends and Allies.
We have not yet dropped to silver
basis and have not had a real panic, but
we have approached near enough to each
to determine who would be gamers and
who losers by change from gold to sill
yer currency.
Setting aside tho silver mine owners.
who want free coinage for purely
selfish purpose-to make market for
their product-there are many farmers,
laborers, mechanics, clerks, ETC., who
honestly believe that silver is the poor
mans as gold is the rich mans friend.
They think they can get the best of
Wall streets ''goldbugs" by making
plenty of silver money, thus breaking
the monopoly of gold. They think that
the hated capitalists are q unit for the
use of gold, and nothing but gold, as
money. Are they right? Should they
not discriminate sharply between CAPT
talists engaged in legitimate productive
industry and Wall street spectators,
trust conspirsA RS, financial sharks and
Insurers?
The merchant, the manufacturer, the
contractor, the mine operator and the
owners of transportation lines, as such,
want sound, reliable and stable cur
rency. 1t matters but little to them
whether gold or silver or copper be the
basis providing the currency does not
fiuctuate in value and that the public has
full confidence in its monetary system.
These men are making their profits from
the production of goods, and a cessation
OF business, because of a change from
one kind of currency to another, or be-
cause congress is tampering with the
currency, hurts them. 1t not only makes
1t more difficult to contract ahead, but
it increases the uncertainties and risks of
conducting business and therefore makes
1t harder to obtain credit, for it must
not be forgotten that a vast majority of
such business firms both receive and give
credit largely When panic occurs and
business Is at s+andstill, with millions
of men idle and 4.refore consuming less
than usual, these business men know
that they must suffer permanent loss.
Therefore they are always ready to pc
tition congress through their various ex-
changes produce, cotton, oil, grocers,
manufacturers, etc.-to give the coun-
try sound currency.
But what of the rich speculator, stock
wrecker and usurer-he who sells and
induces his friends to sell blocks OF
stocks one week to ''bear" the market sc
that he can buy all back the next week
at his own terms, when he will become a
bull" until he has sold out at a hand.
some profit, when he turns bear again
he who has large supply of money tc
hire out or to invest in gold or gold
bonds when it becomes evident that gold
will soon be at premium? These mer
;sIe right at home in tight money mar
ket, when they can obtain rates of interes!
anywhere from 10 to 80 cent. Panics
are picnics for them. If they can induce
congress, or get their western silver
friends to induce it, to begin monkeying
with the currency system, they prepare
TO reap q rich harvest. 1t matters bu
little to them how much or how Ions
business is deranged; how many men arr
thrown out of work; whether gold o.
silver becomes the money of the land
They are after shekelS and are not over
scrupulous as to how they get them
Usury or trust or swindling laws hav,
no terrors for them. They do not inves