The advocate., 1894-03-07

wheat ever raised By the provePbially model
Indiana farmer. The world needs more
money instead Of Less, but the dealer in
bonds or securities have managed 60 obtain
bonds upon almost everything in sight, and
having also secured the great journals and
'magazineS, the mOuldsrs Of public opinion,
they advise the adoption Of the gold stand.
ard because such a course would further
OOntraCt the dsbt-psying medium, Corre.
SpOndingly depress the prices Of all pro-
ducts and spread universal bankruptcy and
ruin. This condition Of affairs gives them
an opportunity 10 bid in al forced sale the
wonderful aOOumulations Of the past two
decades, strew the business highways with
the wrecks Of OnOS prosperous farmers and
business men, fll the ssylums with insane
and the moFgues with suicides. The cormo-
rants will then sell at greatly advanced
rates and kindly accommodate" their VIC
timS with loans, the interest on which will
soon absorb the property.
And hero we are at the present, with
bankrupt treasury, business psralyzsd,
every industry prostrste and the nation
painting for relief. And what is worse,
the peoples grant agent, congress,
dawdllng in utter indifference as to the
condition Of things and scarce concern
ing itself about remedy or an Rllevia-
tion-though the latter, at least, is very
plain and indeed stares then in the face.
The French have demonstrated it's ef-
fectiveness on divers occasions as we
have seen, and we have applied it in
modified form now and then with per-
feet success and thus avsrted disaster
and coming storm.
For example, in 1873 when Gen. Grant
ordered the issue Of some millions of
dollars OF government funds that had
been paid in and had thus contributed
to threatened stringenCy in the money
market, Bsrkey, an intelligent writer
on money and finance, says Of this era:
When congress convened in December,
1873, there was strong public sentiment in
favor Of increasing the amount Of legal
tender paper money. In obedience 10 this
sentiment, 10 passed a bill authorizing the
reissue Of $44,000,OOO Of treasury notes
which had been retired under che policy Of
contraction. This step would undoubtedly
have afforded great relief TO the depressed
industries Of the country. The money
power, however, was unwilling to have it's
plans intsrfsrEed with 10 even this exsent.
Therefore howl was at once cot up by
Shelr organs against ii, and large delsga.-
tion OF bsnkerB, requiring special train Of
cars, at once proceeded 70 Washington to
induce the president TO veto the bill. They
succeeded, OF course, and the bill was re-
burned 10 congress with the presidents OBJ
jeotions; though Ave months prior in his
annual message he had argued chat the
panic was due TO the great contraction of
the currency that had taken place.
And he had bought bonds, and antici-
pated the payment Of government dues
to the extent Of millions as means of
letting the aocumulations Of the New
York sub-treasury into the street. And
thus the money power asserted its sway
and was triumphant over the people as
usual.
And, sgRin, in 1890, when the govern.
ment came to the rescue in like emer-
gsncy, and emptied some of its millions
into the lap OF business, and thus saved
the country from dire disaster. Seore-
tary Window bore testimony to this
i hirnnnlR M Rnlln