The midland journal. (Rising Sun, Md.) 1885-1947, 1894-10-12

AuPUCA "Hu hllhy PCoplC AdNC Ucon
ruined by over trading.
Now, it is said that an interna-
tional money is needed to settle
international balances. We ought
to have no international balances in
the aggregate; but, if we have, we
ought to have more money to settle
them. If John Doe buys luxuries
for the rich, let John Doe find the
means of paying for those luXuries.
international money, if there could
be such thing-but there is none
nOw-wOuld be a curse. The rea-
son why gold has disturbed the
whole civilized world is because it
is worth as much uncoined as
coined. In that sense it is inter
national money, a commodity; and
when it goes abroad it is sold as a
commodity, and having a fixed
value by all the nations who coin it,
one nation is subjected to all the
vicissitudesof every other; and here
we are. If there is trouble in any
country they have to make sacri-
fees to get gold; and we have to
make equal sacrifices, and we are
making them now.
The tariff is not the trouble; and
[ have taken no interest in the
pending tariff bill, because what
ever tariff bill you pass it will not
change the general conditions. The
general conditions are downward as
long as gold goes up, and the larger
use you make for gold, the more
gold contracts you make; the more
bidders you have for gold, the
higher gold will go. The quantity
of gold cannot be increased; but
there is the gold pool, strong
enough to draw it to them. Their
accumulations of interest give them
the power to call for it, and they
are calling for it. They are piling
it up for war purposes.
There are $3.50, 100000 in Russia;
$3.50, 100000 in Austria; 5000, 900,
600 in France; $3.50, 100000 in
Germany; $45O,OOO,OOo in Great
Britain. You cannot get that.
Conditions are against you; and
while gold is pooled the demand
for gold is increasing; the price of
gold is advancing; the price of
property and the price of men and
the price of labor must decline; the
price of living must decline; the
price of existence must decline.
That is the condition you have upon
you. The idea is absurd of spend
ing a whole session in discussing
the difference between quarter
and half of cent; a little bit of q
duty on a particular article, on
collars and cuffs and little things
which are of no account whatever.
Even the sugar duty I do not care
anything about. What difference
does it make what they are doing
in sugar? 1 do not care if few
men get rich or get the advantage
out of the general purse by their
schemes and monOpolies. 1t is but
a drop in the bucket to the general
drain which comes by the appre-
citation of gold, which stops indus
tries. The loss to this country in
the last two years by the stagna-
ton of business and by enforced
idleness has been thousands and
thousands of millions of dollars of
wealth to the country. That wealth
has been produced by labor in the
last few years. If you destroy the
means of employing labor, labor
will never be employed on scale of
falling prices.
Nobody wants property which is
falling, nobody wishes to acquire
property which is depreciating. 1t
is only upon stable or a rising
market that property will be pur-
chased. Everything people go into
is losing, and it is warning for men
to do nothing. These who attempt
to do business fail. You have in
this country destroyed the great
captains of industry, who had more
genius than any set of men in any
country, who were developing the
resources of the richest country in
the world. If they are engaged in
any kind of business whatever,