The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-07-20

VINO 6r19o 30 incorporate N the hand
Allison Law Of 1873 the proyisO that the
silver dollar provided for by that act
should be legal tender for ali debts, public
and private, ercept dates on inporEs and
interest On the psIblic debt, well knowing
that this exception would discredit the
silver dollar and send gold TO premium.
They we're not then SO much concerned
about the character of the dollar held by
the labOring man.
Let as see If present conditions are
beneficial to the leboEing man. It ie uni
versally acknowledged that labor's best
condition is that of constant employment.
It Is not 50 important for labOring man
that he should have occasional employ
ment at higher rate Of wages as that he
should have constant. uninterrupted en-
ployment, even at lower rate Of wages.
In country like this, where there is so
much to do, there is something wrong
with the conditions whenever 8 single
able-bodied man is unable to find employ
ment. With the inventive genius of the
American people, with the field We pos
sess, with the start we have in the race for
national prominence, If we follow the two
rules for regulating the amount OF our
currency which have suggested, there viii
not be day of enforced idleness for any
man who is willing to work. Labor In
this country is SO well organized, that under
such circumstances this excessive concern
for its condition, SO suddenly manifested,
would be uncalled for.
Do you consider what such a condition
of affairs would meant Does it occur to
you that a days labor can never be re-
gained? Here, where there is more than
enough for every man to do, it is claimed
that for the last year a million men have
been idle. Let us estimate a mans wages
la Al.
nation in one year would lose $500, 600, OOO
The $6OO,OO0,OO0 of gold would have to
go to q premium of so per cent. to equal
that.
Let us investigate the claim that there
is $500, 900 of gold in circulation in
this country to-day. Where is it? The
last report of the comptroller of the cur
rency shows that, on July IL, 1898, all of
the banks of the United States -national
state, private together with all savings
banks and loan and trust companies, had
On hand only $103,417,S 76. The treasury
statement, about the same time, showed
that outside the United States treasury
there was $484, 296, 100 of gold in Oircula-
tion. Here is discrepancy of more than
$780, 600, 600 Of gold to be accounted for.
Was that In the pockets OF the people?
If so, there was more than So of gold in
the pockets of the people for every man,
woman and child In the United States.
Do you believe itH Which seems the more
probable, that this money was in the
pockets of the people, or that the gre ater
part of it has been lost, destroyed, or has
emigratedf
We all know that when jeweIer wants
a piece of gold in his work he does not
want gold bullion; he takes a piece of
gold coin and uses it. Yet the treasury
statements, issued monthly, give the total
amount of gold coined and issued since
the first coinage law was adopted.
If gold coin could increase in amount
as the tax returns show that greenbacks
can, we would probably not urge the free
coinage of silver. There are supposed to
be 346. million dollars in greenbacks in
circulation, if we make no allowance for
those that have been lost and destroyed.
The greenback is not taxed, and if on
assessment day a man owns $1,000 in
| greenbscks he is entitled to exemption to
| exemption on that AMOUNT. member
of the congressional committee on bank
| ing and currency declares that official
returns show that, in the United States,
banks and individuals claim exemption
on billion dollars Of greenbacks.
We know that all the gold coined is not
in the United States treasury nor in circu-
Iation among the people; and doubt if
| 5nSE6 Is GO-OdY 0OOOyOOO,OOU OF ROIQ
circulation ii the United States.
If this assumption be correct, then the
loss to the United States, by the idleness
of 100000 men one year, equals all the
gold in circulation.
When does laboring man receive high
wages? Is it not when there is a persis-
tent and constant demand for laborers?
When there are two leborers for every job,
then labor is cheap; but when two jobs
can be found for every laborer, then labor
is fairly paid. So, there Is no class of our
citizens who would pc more benefited by
free coinage than our laboring men, be
cause of the stimulus it would give to en-
! terprise.
The American Iaboring man is intelli-
gent. He knows that his services are
worth more than his board and clothes,
and he is bound to have more.
| Many worthy men say, ave are in favor
of the free coinage of silver if you viii put
dollars worth of silver in silver dollar"
Now, how much is a dollars worth of sill
yer? When the United States, in 1892,
! adopted e system Of coinage, we adopted
q new coinage nomenclature. We did not
coin francs; We did not coin pounds,
shillings, and pence. We coined eagles,
dollars, dimes, and cents; double eagles,
half eagles, quarter eagles, half dollars,
and quarter dollars.
We provided by law that the silver dol
lar should be the unit of vGElte, and should
contain 3714 grains OF pure silver. The
same act provided that q gold dollar
should contain 24.75 grains of pure gold.
So the silver dollar weighed just Is times
as much as the gold dollar. In 1884 there
was change made In the coinage Law for
the following reason: The European ma
tions, except England, were coming both
gold and silver at a ratio of 154 to /. The
silver IN our silver dollar therefore was,
when compared with the silver coin of
Europe, worth less than our gold dollar
In other words, an ounce Of gold would
only buy Is ounces of silver here, while il
would buy ISL ounces Of silver IN Europe.
The consequences was that spectators
shipped our gold to Europe for the profit