Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1894-07-26

hHisOn law OF 1915 tne prOvlbO tnat tne
silver dollar provided for by that ast
should be legal tender for all debts, public
and private, ercept duties on imports and
interest on the public debt, we'll knowing
that this exception would disoredit the
silver dollar and send gold to premium
They were not then so much concerned
about the character of the dollar held by
the laboring man.
Let rs see If present conditions are
beneficial to the laboring man. 1t is uni
versally acknowledged that labor's best
condition is that of constant employment
1t is not SO important for laboring man
that he should have occasional employ.
ment at a higher rate Of wages as that he
should have constant, uninterrupted en-
ployment, even at a lower rate of wages
In country like this, where there is SO
much to do, there is something wrong
with the conditions whenever 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 will
not be day of enforced idleness for any
man who is willing to work. Labor ia
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 mean? Does it occur to
you that days labor can never be re-
gainedf 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 mans wages
at 81 per day. With a million idle, this
nation in one year would lose $780, 100000
The 5000 100000 of gold would have to
60 to premium of so per cent. to equal
that.
Let US investigate the claim that there
is $60o,0O0,0o0 of gold in circulation in
this country to-day. Where is iti The
last report of the comptroller of the cur
rency shows that, on July 10, 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 $1O3,4l7,876. The treasury
statement, about the same time, showed
that outside the United States treasury
there was $4S4 1885, 100 of gold in circula-
ton. Here is a discrepancy Of more than
$780, 100000 of gold to be accounted for.
Was that in the pockets of the peoplei
If so, there was more than IS of gold in
the pockets of the people for every man,
womtn and child in the United States.
To lou believe itf Which seems the more
OF able, that this money was in the
poclets of the people, or that the gre alter
part of it has been lost, destroyed, or has
emilratedf
WI all know that when a jeweler wants
a piece of gold in his work he does not
want gold bullion; he takes piece of
gold coin and uses it. Yet the treasury
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 3i6 million dollars in greenbacks in
if we make no allowance for
those that have been lost and destroyed.
The lgreenback is not taxed, and if on
day 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
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-
lation among the people; and l doubt if
there is to-day $500 100000 of gold in
in 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
wagesf Is it not when there is a persis-
tent and constant demand for laborers?
When there are two laborers for every job,
then labor is cheap; but when two Jobs
san be found for every laborer, then labor
Is fairly paid. So, there is no class of our
,itizens who would be more benefited by
free coinage than our laboring men, be
,ause of the stimulus it would give to en-
terprise.
The American laboring man is intelli-
gent He knows that his services are
worth more than his board and clothes,
md he is bound to have more.
Many worthy men say, 1--WE are in favor
IF the free coinage of silver if you will put
, dollars worth of silver in silver dollar"
Now, how much il dollars worth of sill
yer? When the United States, in 1892,
adopted a system of coinage, we adopted
, new coinage nomenclature. We did not
,oin francs; we did not coin pounds,
and pence. We coined eagles,
dollars, dimes, and cents; double eagles,
ialf eagles, quarter eagles, half dollars,
md quarter dollars.
We provided by law that the silver dol
ar should be The unit Of rdiue, ana should
contain SIT grains of pure silver. The
anne act provided that a gold dollar
hould contain 24.75 grains of pure gold.
50 the silver dollar weighed just Is times
Is much as the gold dollar. In 1884 there
vas change made in the coinage law for
he following reason: The European ma
ions, except England, we're coming both
,old and silver at ratio of 154 to l. The
liver in our silver dollar therefore was,
ghen compared with the silver coin of
europe, worth less than our gold dollar
n other words, an ounce of gold would
'nly buy Is ounces of silver here, while il
Sould buy 159 ounces of silver in Europe.
he consequence was that spectators
hiPped our gold to Europe for the profit
here wss in it, and gold disappeared al
most entirely from circulation.
By the act of 1884, the ratio was
hanged from Is to l to l6 to !. But