The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-18
TAKES THE PLATFORM.
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had given the right TO do so. There
was but the one metal to which the
minis were open-the commercial value
of the other metal had been lowered
by legal discrimination against It. Gold
was carrying the silver just as it is
carrying paper money. Silver was not
permitted to take the place of gold. If
gold was cornered neither the United
States treasury nor the debtor could
put silver in competition with it. They
must go to the men who have the gold
and get ii and submit to their terms
A corner in beef cannot seriously
threaten the health of the people of
this nation so long as mutton and pork
are in competition with beef. A corner
on gold not, as it does now, seriously
threaten the credit Of this nation if
silver was in competition with gold as
primary money.
IN THE ROTHSCHILDS' GRIP
What is the remedy? Let lis have
nothing more to do with the men who
have assisted in trying the hands of this
great nation and delivering its finan-
cial policy over TO the gold gamblers Of
the world, The bank of the Rothschilds
in England is now behind the United
States treasury. They are our financial
agents: our financial managers. We
are paying them the princely salary
Of eight million dollars for each six
are in the hands Of the pawnbrokers of
Europe. How long is our reserve stock
of gold to last? How are We to replen-
ism it? There is only one way. That
is TO borrow ii from those who have il.
and that means England. And that IS
what we are doing. That means more
interest, more gold annually TO be paid
TO England. Where will it end? It
means the dismal swamp and "hells
to &c ~ No -D1
a gold standard means. money that
is easily cornered. But, how are We 10
pay these debts TO England? 1t is in
this way-restore silver; put in competi-
ton with gold on a legal ratio Of 16 TO
]. Repeal all laws allowing a discrim-
ination between the two metals; stop
gold notes from being taken. Put sill
Yer in competition with gold as quick
as possible. Where gold contracts. do
not exist silver viii go at once into
competition with gold and this will
take some Of the demand off of gold.
WHEN PRICES ADVANCE.
"To that extent it will lower the
value of gold. The extra demand for
silver will raise its value. Everything
will advance in vSlue at once. When
our silver advances and the prices Of
all our products advance and wheat
and cotton go back TO their old price.
we will be more able TO pay our debts.
The only way to pay England is TO ad-
vance prices permanently. not spasmodi
Cally as is now being done on a few ar
ticles.
I'VE can show gold, we do not depend
on it for money. 1t will then be our
slave. IT is now tyrant. Il viii then
come back and beg US to take il as in
1875 when it-one Of these gold dollars
was worth two cents less than asilver
dollar
when a great government like the
United States says: Here is equal
change, is for !, gold for silver man
in France is not going TO part with his
silver for gold, unless he gets that
much for it; unless he gets as much for
it as the United States will pay for 1t,
less the cost of exchange. So that when
the government is big enopghh TO take
all the silver in the world, if it wants
to test its capacity, a demand is ere
ated by an influence that is able to sus-
tain that demand, SO that a man no.
where in the world is going to sell his
silver for gold, for any less than he
can get it in the United States.
WOULD HAVE COMPANY.
Eve will not have to go it alone.
We would start with the western hem
eastern hemisphere. and with France
with the United States, two of the
greatest governments in the world.
Our trade with foreign nations is
only per cent of our business and our
dimestic business is 96 per cent of all
our business. Which do you want leg
iSlated in the interest of. the 90 per cent
of the per cent. If an undue and I'M
righteous influence by schemers and
tricksters abnormally enhance the val
ue Of gold so a commercial parity at 16
TO L cannot be maintained, then do as
our fOrefathers did, change the ratio,
and make the change in weight and
size of the gold coins. Monroe and
Jackson did ii. They were not called
dishonest for doing SO. They were leg
islating in the interest of the people and
not in the interest of the favored few.
This is a question of capital on one
side and humanity on tn eother- One
sound money-the sound of the clod on
the ccffin-on one side, and sound mon
ey-the sound that has the honest ring
of the peoples money on it-on the
other side. 1t is question of an Eng
lish policy or an American policy.
Which shall it he?
LAUGHLIN REPLIES
Professor Laughlin, replying for the
negative said:
Apart from the we'll understood use
of money as a medium of exchange,
money is used like common denomina-
tor of value with which other articles
are compared. AS a measure of value
it serves in a similar way as a quart
cup may serve Is measure of capacity;
and as there is not needed a separate
cup for every quart of milk in existence
so one can measure hundreds of thou
sands Of goods by comparing with the
same standard of measure. There is
no need of an amount Of money equal
to all the goods in existence. The
measure of value is that in which prices
are stated and debts are paid, provided
the measure of value is also made a le-
gal tender in any country. If is evident
then that the quantity Of measures is
not so material as the unvarying stabn
ity of the standard of measure.
There is no more essential need Of
any increase of measure with which to
compare goods than there is or should
be number Of yard sticks equal to the
number of yards Of cloth in a store
The absurdity Of supposing that much
money is required in order TO have
something with which 10 measure goods
is as absurd as 70 suppose that COM
munity must have hearSeS in number
equal 10 the population. One or two
well regulated hearses may do the work
of burying all the community. because
they may not inconvenienly all die AZ
the same time So with gold. All goods
are neither eNCiidIStu q Inc SdHtc Nlittt
nor are they offered in comparison with
the standard at the same time.
EXCHANGE WITHOUT MONEY
What is important 10 point out is
shat goods when expressed in terms Of
a common denomination of value are dali
" exchanged in enormous quantities
mainly without the use of money. For
the exchange Of these goods therefore
money Is not needed in proportion to
the transactions. This function is that
OF the medium Of exchange.
The necessity OF an increasing guam
tity OF money IS growing less import