Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1894-07-26

Atoo OoinhBe OF oliver mere Will make gold
more valuable abrOAdi II II takes wings
and flies away to foreign climes, will tho
addition of $600,0O0,000 In gold to the
supply Of other nations have tendency TO
Increase the value OF the gold coinl You
cannot increase the value of gold abroad
by increasing the supply. You must
either diminish the supply or increase tho
demand.
Why would our gold leave usH Would
II go TO Earope to pay our debtsi That
could not hurt ne. Would IL bo used TO
mako purchasesi Certainly, no American
would buy what he did not want from Eu-
rope simply because we adopted free ooin-
age. Suppose gold should 90 10 premium
Of 20 per cent. What would II mean :
Simply, that the price in silver Of all prod
ucta would rise 30 per cent. How Wonld
we suffer by thatf They claim that We
have e600,000000 of gold In tho United
States. II that should 20 TO a premium
OF 20 per cent, II would make difference
of Sl2O,000,000. The benefit to the farm.
ers of an increase of 20 per cent. ON the
price of corn would equal that in one year.
We are also told that foreign nations will
not take our silver money. For all which
we shall DO truly thankful. We do not
want them to take our silver money We
need every dollar that can be coined right
here. They do not take our silver money
now but our silver answers our purpose
just as we'll as If they did. II We we're to
coin every ounce of silver that can be
mined in the world for the next Ave years,
and allow not an ounce to DO used in the
arts or by other nations, we would not, at
the expiration of the five years, have as
large per capita circulation as the late
republican state convention of Pennsyl-
vania demanded. We have population
OF 10 millions, in round numbers. The
greatest amount of silver ever mined In
one year was 1872 million dollars less
than $3 per capita for the people Of the
United States. So, II we had free coinage
for five years, we would not increase our
currency ia per capita And does IL not
occur to you that If we deprived all other,
nations Of silver for Ave years the demand
for silver would become so great that We
should hear no more of the difficulty of
maintaining tho parityi And who would
be injured Absolutely no one. For,
while it might appear that the capitalist
might sustain loss, the stimulus to en-
terprisO which would result from the free
coinage Of silver would make Buoh thing
as Idle money unknown. The profit to
the capitalist 10 greatest when capital is
active whom industry is Oeaseless.
In studying this question, many snOoun-
ter great difficulty because of their wrong
aoffnn nN
litical economist, John Stuart Mill, says:
There cannot In short, be intrinsicalEy
more insignificant thing in the economy
OF society than money, except in the char
acter of a continuance for sparinR time
and labor. 1t is a medium for doing
quickly and commodiously what would be
done though less quickly and oommodi-
ously without it; and, like many other
kinds of machinery, IL only exerts dis
tinct and Independent Influence Of It's own
when II gets out Of order"
Only the miser gets money to hoard IL.
Other people seek money to loan or to sell
it. When man sells corn or cattle or
cotton for money he simply buys money,
and when he buys corn or cattle or cotton
for money he sells money. Every man
who borrows money simply hires IL, as one
would hire team from livery stable.
But, as every one is struggling so to get
money for what it will buy, we seldom use
the word buy without conveying the idea
Of purchasing with money.
The capitalist who opposes the free
coinage Of silver Is sacrificing a perma- |
nent advantage for temporary one. II
Is never to the advantage of creditors to
bankrupt their debtors. When they do
that, they are in the situation of the man
who killed the goose that laid the golden
egg. This persistent falling of prices is
bankrupting not only the merchants and
manufacturers, but is also bankrupting
the farmers of the land.
Take the example of creditor in the
East who has loaned $1,000 to a Saline
county farmer. What does he believe will
benefit him most, the prosperity of his
debtor or the bankruptcy of his debtorY
He does not want the farm. He wants his
paid promptly and his principal
returned. II the debtor becomes bank
rupt the creditor is compelled to take the
farm; and, If prices continue to fall, he
will be compelled not only to lose his in
terest, but failing to find purchaser who
will pay as much for the farm as he loaned
upon it, hesfnally sacrifices part of his
principal. What is of more Importance,
the farmer is changed from an independ-
emit home owner TO dependent tenant.
Suppose we should admit that the re.
of silver would make money
80 plentiful that itwould for time be an in.
justice to the creditor. Then you cannot
avoid the conclusion that the demonetiza-
tion Of silver was rank injustice to every
debtor in the land. If the debtors of the
and hive for 20 years been suffering in
Justice by reason of the demonstration
Of silver, is 1t anything more than fair
that the shoe should be worn on the other
foot little whilef The debtor GLASS in
his country is by far the larger class, and
Il the remonetization of silver would bone
1t the debtor class, then, in country
where we are supposed to be seeking the
greatest good to the greatest number,
here should be nohesitstion about adopt
ng free coinage.
But this question ought not TO be ham
pered by any such considerations. We
'avor the free coinage of silver because it
8 emphatically right and proper. We are q
! new nation. We are yet in the forma
i've period. The possibilities of this
country are in their infancy. II all Of the
people of the United States inhabited {
Texas, her population would not be as
tense as the population Of Germany.
For the development of this country, We 8