The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-07-20
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an administration in power which, when
il claims IL wants TO hold its gold, insists
on paying out its gold and holding its
silver. When by this process it has di-
minished the supply OF gold in the treas
ury, Il issues interest bearing bonds and
buys more gold to protect the gold reserve.
Here let me offer word about the gold
reserve. After the late war, when the gov
eminent resolved to resume specie pay
ments, 800, O0o, 900 of gold was gathered
into the treasury with which to redeem the
outstanding greenbacks. When We re-
suEhed specie payments, ss everybody pre-
ferfed the greenbacks, this 500. OOo, 900
was not disturbed
eAftsr IL had lain there few years, al
though it was placed there to be pRid out,
our public men began TO talk about this
sacred reserve Of 100000 COO, and began
to claim that If we ever dared TO use this
money dire disaster would follow. The
fact Is, that if every dollar OF it were paid
out, It would expose many fallacies that
are current to-day.
The bondhoIders have made more than
one effort to have Congress declare the
bonds payable in gold, but have always
failed. What they failed to secure through
Congress they have secured through the
executive. The bonds are payable in coin,
64u Buo kONCEuuOub Ado SAO S1ApAOAO Va
paying in either silver or gold. If we adopt
free coinage, the bondholders of the nation
will be interested in seeing that the parity
between gold and silver Is maintained, for
if gold should go to premium the Ameri-
can people would cruelty any man who
would dare to pay the interest on the
bonds in gold.
If man should insist on buying wheat
by measure when it is heavy, and by weight
when it is light, We would call him an I'M
principled scoundrel. If q farmer should
borrow 800 for 80 days. and agree to pay
in either wheat or corn at it's market value
when he borrowed the money, and wheat
should rise or corn fall in price, the farmer
would certainly be justified in settling his
debt with corn. The bondhoIder who in
sists on being paid in the more valuable
metal when the government has the option
of paying in either metal is eulOgized as
an eminent fnancier.
Monometallists have awakened to the
fear that the American people are deter
mined TO have free coinage of silver. This
knowledge has proven powerful stimulus
TO the demand for international bimetal-
Esm. While great many people are sim
oere in their desire for international
bfmetelIism, much of this talk has for its
object simply the defeat of bimetallism.
There lie no present prospect that England
will agree to any arrangement for the re-
monstization of silver. Gladstone has
publicly declared, that as England is the
great credit nation of the world, it is to
her interest to make the purchasing power
Of money as great as possible, and that
she will consent to no arrangement that
viii result in destroying the advantage she
nov possesses. The obligations she holds
are payable in gold, and the more valuable
- Oh hat GOLD fhn mr. ywaalfhv
she becomes. aa $50. -lf.
This is very easily understood, II
man has 100000, he is considered wealthy
because of what he can purchase with his
money. If he were on q desert island,
without hope of rescue, with nothing but
his 100000, he would not consider him
self as wealthy as a man located on sim
liar island with 100 bushels of wheat. If
9 man has 100000, he can double his
wealth by doubling the amount (relative
values remaining the same1, or by preserv-
ing the amount and diminishing by one
half the value of everything else, England
holds the obligations of other nations to
the amount of 10 billion dollars, principal
and interest payable in gold. She sees
the purchasing power of gold increasing
every year, and, though the distress of her
common people cries aloud to heaven,
with greed born Of hell, her rulers pam
per avarice at the sacrifice of humanity.
without England, no international agree
ment can be had; and many who have so
suddenly become Jealous for an interna
tional agreement realize that there is no
hope of its contamination.
If such a thing as an international
agreement were possible, it would not
be international bimetallism. It would
simply be an agreement to continue the
single, gold standard and make silver sub
ordinate. This we do not want This we
must not permit.
We are told that all this trouble comes
from running in debt, and if people would
keep out of debt it would make no differ
ence whether we had free coinage or not.
While the burden is heavier upon him
who has bankruptcy staring him in the
face, the injustice of present conditions
presses heavily upon every producer in
the land, whether he is in debt or not.
But why should We sheer at the men who
get in debt? To whom do we owe the
glory and grandeur of this nation. Who
are the energetic, active business men of
the nation? Are they those who never
become involved in debt? How could the
magnificent enterprises of the day be car
ried out if no person was willing to 60 in
debtG What would become of the money
lender if no one became involved in debt?
We have within a twelyemcnth seen the
most marvellous production of any age
We have sean an exposition in the city of
Chicago that put to the blush the vivid,
fantastic imagination of the author of the
Arabian Nights. To that fair the world
contributed its best mind. muscle, ana
achievement. Shall we denonnce the de-
signers, promoters and conductors of that
enterprise because they went in debt?
We have country here that We have
Just begun to develop. It's resources are
almost lmitiess. All of the capital which
81 IS possible to procure throughout the
world can be used TO advantage here.
We can properly hypothesis the energies
Of coming generations, If the men Of to-
day have the manhood, the courage, the
determination, to free succeeding genera
tione from the deadening hand Of an ap
pxseiating currency. Let rs free human