People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1894-06-08
.S1,1SO,197,741.76

National bank notes ........ 146,137, $4,000
Greenb6ckS ...............4 3l, 066. 1900
Total. go. ..........S1, $50, 1917, 74176
This does not include the SS29,992,-
500 of 7-30 notes issued under the acts
Of July II, 1861, June 30, 1864, and
March 3, 1868, and which circulated as
legal tender money, making the
volume of money then in circulation
over $50 per capita. 1t was at this
period when the war was over and the
stability of this nation assured that
London and New York money sharks
saw an opportunity at hand to reap a
magnificent harvest without sweat
ing of the brow" We quote from
Facts About Silver"
Two changes in the volume of
money took place rapidly after 1865.
First, the money then in existence
was spread over the southern states,
being soon divided among $4,000, OOU
instead of "A, 900, 900.
Second, the volume was RAPIDLY con-
tracted, until in 1869 it was reduced
to less than 500, OO1,OJO for 10000, 900
OF people, and was no larger in 1879
when resumption took place for So
O0O,OOO of people, being reduced at this
time to S14 per capita.
"Of course prices fell in proportion.
Wewere told, however, that the cause
Ofprices was over production. People
did not understand as well as they do
now that the real cause was the change
IN the money volume.
Commodities are always weighed
against money, and where there is lit
tie money more commodities must be
given for dollar"
But while the volume of paper
money was being rapidly contracted
from 1865 TO 1878, both gold and silver
were money, and we had the right to
fall back on the two metals at the ra.
ito of l6 to for money supply, and
every dollar of the vast debt stated in
the preceding paragraph, as well as
ms;h larger sum of state, municipal
and private debts, if not payable in le-
gal tender paper, was at any rate, pay
able in either gold or silver coins, at
the option of the debtor
The general understanding at the
close of the war was that the public
debt was payable in greenbacks.
Gould there be any excuse in the
world for striking down half the
money in 1878?
mo bonds or other government OBJ
legations were ever made specifically
payable in gold. The interest on the
bonds was payable Elm coin, the prin-.
cipal Of the original bonds in lawful
money, and of the refunding bonds,
in coin. No man on the earth had the
legal or moral right to demand gold
payment; much less had any one the
right to demand that silver be demone-
tized and gold made dearer, and then
that the payment of all debts should
be made exclusively in gold"
Why then was the money standard
changed? There can be but one rea-
sou. A change in the money standard
from gold and silver to gold alone
would correspondingly increase all
debts ia the hands OF. those who held
them. A proposition to directly in
crease the bonded debt of the United
States. or any other debts, would have
been too barefaced fraud to be made
by any one. Nor would any one have
dared to propose an increase in the
weight of coins as means of increas-
ing debts, but if one of the money
metals could be dropped out, the eff
feet on the other and on debts would
be the same as if the weight of the
coins had been increased. Hence The
device to demonetize silver and in that
way to increase the value of money,
and with it all debts, was brought
forward and clandestinely put through
congress.
THE FREE silver men who insist on