The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-07-30

| gold in 1892 was 1917, and in 1873 was
| 1892 Since the decentralization of silver
the value of gold has constantly risen IN
| til at this time it will take about 80
pounds of silver to buy one pound of
gold And the same holds good as to
the general value of property which has
! deprecated in the same proportion. At
the Brussels conference in 1899, the Ia
! bles of the Soetbeer and of the London
| Economist were exhibited, and admitted
| by the confer ence to be correct These
| tables showed that the general prices of
| property had fallen 40 per cent In late
| years the fall has been much more rapid,
and it is safe to cay that since 1879, the
fall in general prices, including that of
| labor, if the unemployed be considered,
! has been over so per cent In other
/ words it will take as much again prop
erty today to buy a dollar as it did in
| 1873 This shrinkage or loss in value of
| property falls on the people.
| We are told, however, by the gold
monometalists that times are good; that
| there is plethora of money in the
banks. The boarding of money in the
| banks indicates stagnation of business.
| When business is good investments are
! made, and there is = greater demand for
money and consequently no boarding of
it in the bankG No business, no de-
mand for money, unless to pay debts.
In our judgment the American system
of protection, one of the main tenets of
the Republican party, is impracticable
and cannot be sustained in the absence
| of bimetalism. Gold monometalism and
| free trade must go together. Protection
increases the cost of production, while
| single gold standard increases the value
of property. When the cost of produc-
ton exceeds the price of the commodity
produced, either the manufacturer or
/ h. 7fo7
| turer cannot sell his manufactured goods
for what they cost him he will not be
! likely to continue the business very long.
As declared by George n. Pullman in
| his statement to the public: "The
| business depression existing through
| out the country had naturally re-
suited in a wage depression, aud the
only hope. of getting orders was by bid
! ding for work at prices as low, or lower,
than could be made by other shops. and
| this of course necessitated reduction in
wages of the employees at Pullman"
! The consequence of this is strikes. lock-
| outs and riots. These are indigenous TO
| the countries which maintain the single
gold standard.
The maintenance of gold monome-
| tallism necessarily results in the annihiIa-
| ton Of our national currency, which has
been the boast and pride of the Republi-
/
| treasury fully verify this fact. In the
| Democratic administration OF President
! Cleveland our national currency has an
| inveterate foe. Next to the hatred of
the Union soldier ia that of the green
back. They never can forgive it for the
part it played in suppressing the rebel
lion. They desire to supplant it with the
wildcat" or state bank currency of ante
bsllum days. The declaration of the
=
| orlng the repeal of the 10 per cent tax
on state bank issues was made for this
purpose.
The war cry of the Democracy, as pro-
claimed by its president, is: THE govern
ment must go out of the banking bust
ness" And still more elaborated: 'sThe
absolute enforcement of the government
from the business of banking is the ideal
relationship of the currency of the ceun-
try" If any proof were lacking in this
matter the plan for currency reform, as
the bill by Secretary Carlisle to the com
mittee on banking and currency of the
last congress, fully supplies it.
In an address delivered by ex- Con-
gresham Harter, of the coinage, weight
and measures committee of the Fifty
| third congress, before the State Bankers
association at Saratoga, n. Y. on July II,
1895, is embodied the proposition of the
Democratic party. He said: "Let US
make it safe and sure by redeeming
and cancelling the greenbacks and get
ting the government out of the banking
business, letting TT people conduct their
own business affairs and supply all the
| paper money they need, providing for
its prompt redemption in gold, and let
the nations know that the United States
is, for all time. a sound money, honest
dollar nation"
The Democracy is opposed to bimetal-
ism and favors the maintenance of gold
| monometalism; and the humiliation of
our national currency, thus necessitating
the issue of millions of bonds, and the
establishment of the old state bank sys-
TEN of currency, still further appreciat-
ing the value of gold to loss to the peo-
pie in the shrinkage of values and the
striking down of all protection to the
manufacturing, agricultural and labor in
forests of the country; to build up an
aristocracy on the one side and serfdom
on the other, which would fnally result
in the destruction of the liberties of the
people and the overthrow of the republic.
When the demonstration of silver be-
came known the people demanded its
restoration. But while they asked for
bread they were given a stone.
The Democratic party in its platform
at Chicago declared: "We hold to the
use of both gold aud silver as standard
money of the country, and to the coin
age of both gold and silver without dis
elimination against either metal or
charge for mintage." Thus the people
had right to expect in case that party
was successful, as it was, that the above
declaration would be carried out in good
faith. In this, however, they were de-
ceived. AS soon as Nr. Cleveland was
elected he began war on silver. He
declared that the salvation of the country
depended upon the immediate repeal OF
the silver purchasing clause of the So