People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1894-02-09

SuCu SldJcHe0IS we ueCldre 10 DC IN
famoup ISLANDERS upon our people and
state, and declare that no other state
in the union contains a more honest,
nor better debt-paying people than
Kansas. AS evidence of this, we have
only to point to the fact that during
the first nine months of 1898. notwith-
standing the money panic, the most
severe in the history of our country,
the short crops THE poorest in years.
and the extremely low prices, her peo-
pie paid of their Indebtedness to her
banks over thirteen million dollars.
thereby enabling the bank TO pull
through the panic and at this date.
taken as whole, present a more solid
front than the banks of any western
state. While Kansas had quite num-
Der of bank failures during the panic,
the amount involved is small. A single
failure in an eastern state often in
volved more of actual loss than the
entire amount involved in all Kansas
failures.
This brings us to a consideration of
the general situation throughout the
country today, which all admit is most
deplorable. Dun's Mercantile Agency
declares that times are harder and
prices lower than for fifty years, and
while prices of farm products are al
ready below the cost of production
they must go still lower if the present
financial policy is continued. The
daily press declares that evictions in
New York City exceed any known in
Ireland. Bread riots are of daily oc.
currence and millions of laboring men
are idle, while business men of all
classes are forced to the wall at the
rate of four or five hundred per week.
factories are closing down, and each
day adds to the distress, misery and
wretchedness. What is the cause of
all this, and what is the remedy?
Read the Omaha platform and pre-
amble, compare it with the declara-
lions of other political parties and
answer here and now who declared
Alright and who falsely.
In the campaign of 1892 Populists
declared that the price of wheat
(which was then fifty or sixty cents),
and the prices of all products would
continue to decline, unless there was
a change in the financial policy of the
government. In reply to this it was
declared that the great natural law of
supply and demand governed, and ex-
secretary of the treasury, Charles Fos-
ter, was appealed to and issued mani
festo to prove that there was more
money in circulation than ever Every
one is familiar with what Mr.. Foster
said at that time, but when he was
forced to the wall few months ago he
stated that the tightness of the money
market was the cause. He said Our
bills were paid in paper (meaning
notes AMI acceptances) and we were
called on for cash.
But how is it today with wheat?
The worlds supply is 5O,OoO.OOO bush
els less in 1898 than in 1892, and the
natural law of supply and demand
being in full force, we should receive
more per buslel than in 1892. Do we?
If not, why not! Our Republican
friends tell us it is all on account of
the tariff, and will doubtless appeal to
you in the coming election to vote for
Mckinley and all will be well.
This is the only remedy that the
once great party has to offer for the
evils that are producing results such
as would be disgrace to monarchy.
Will you accept this impoverished
logic, that continuation of the same
money and tariff policies that have
been in force during all the years in
which the evils of which you complain
have grown up will prove a remedy
for these evils.
But, says our good friends, money is
plenty. Look at New York." the
banks have SSO,OOO,OO above the legal
reserve, and you can borrow it on call
at IL per cent. Oh, yes; bat how
many of you can repay ION call" how
many can give bonds as security for
call loans!' And why are the New
York banks holding this vast sum of
money and refusing to loan it except
Ion calls?" We will venture a sug-
gestion as to why they do this, and
will simply refer You to the oft repeat
ed Washington dispatch: Secretary
Carlisle is preparing to issue bonds. :"
For what purpose. pray, are these
bonds to be issued? To provide means
of employing the idle millions? Oh.
no; that would be paternalistic. To
pay current expenses of the govern
ment? Oh, no; they can be paid by
coming the silver bullion now in the
vaults of the treasury. What then is
the object? Why, simply to provide
for an investment for the bankers
millions, the gold received for the
same to be used to increase the reserve
anu to be locked up until some for
eigner or some banker who refuses
silver demands it. And this is states
manship-this wise hnanciering."
Alas while we are writing comes
the news. Secretary Carlisle has Is
sued Bonds" The government has
come to the relief of the banks. which
were suffering for a market in which
to loan their accumulated millions.
The common people could furniss no
more security. SO the general govern
ment comes to their relief by selling
government bonds for banking basis
through which the money of the coun-
try will be controlled. and on which
the impoverished millions must paw
interest, and finally the principal. As
soon as the present offer of fifty mil
lions is taken doubtless more bonds
will be supplied.
Ex-Governor Fifer, the last Republi-
can governor of Illinois, once said in a
speech at Joliet: Just as certainly as
| stand here the government will fall.
All things tend to wealth, wealth to
luxury, luxury to weakness, and weak
ness to decay"
Debt is the great damning. blight