The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-03
HOW THEY LIE

| IHcre Is uedItl VI uOHcy III tliS
land, and improved times, under pres;
ent conditions, are impossible.
The gold OF the world is largely tied
up in reserve deposits, and by indi-
vidual owners who are holding it for
| a possible premium; the silver of the
world lies unused, through an enforced
| uselesness; and now, we are told, that
| the three hundred millions of green
back currency, being continual men
ace to the gold reserve in the treasury,
must be redeemed and destroyed.
Confronted by such conditions how
are better times possible:
Yet every day che Associated Press
wires running out from New York are
loaded with circular letters from gold
bug boards and interviews of giant
goldbug bank presidents and the like.
assuring the country that the turning
| point has been reached and that the
property and products of tbs country
are now on the upward move. Save
| slight advance in the iron trade and
one lonesome squirt in wheat, it is all
a lie, told to deceive the people, in the
| hope that the cry of despair may be
| hushed, and that the uneasy may be
| lulled into quiet The aggregated
values of the country are worth no
more than they have been for two
years. With the exception of class
of realty in one or two cities prices
have not even ceased to decline. Farms
and farm products and every conceiv-
| able class Of property are all dead
Everybody knows this to be true
The alleged era Of prosperity is not in
| sight
We have had possibly a few slight
| recoveries in few lines from extreme
| depression, as to wages, which were
| below the living scale in the iron and
| coal regions, but nothing more. The
rest is all cheap talk which if believed
| would have criminal effect. The peO-
pie Of the United States are not even
! in sight of better times. They may
| see through Cleveland, whose admin
istration so doggedly stands between
| them and better times, but the better
| times are involved in the possibilities
Of the administration beyond his.
There is one bank president in
| Gotham, however, whose honesty
equals his greatness. He controls his
| millions of gold, but God controls his
| conscience. William Z. st. John, the
president of the Mercantile National
bank of New York, may love gold but
he loves truth more. Years ago he
foretold what was coming to this coun-
try through the demonstration of sill
yer, and at two or three national bank
er'S banQuetS he was set down as q
crank. For holding that as we were
conSpicuously q nation of producers
that therefore we must put a premium
On production rather than on consump-
ton, he was called crazy protec-
ZIONIST. And when he declared that
the only way to increase the prices of
our productions was to reopen our
mines and minis that the producer
might share in the wealth of the con-
sumner, he was set down as q hopeless
lunatic.
Mr.. st. John has been heard from
again. He still holds and declares
that the reOpening of our minis to sill
yer is essential to an era of even
| moderate but continued prosperity.
But for his own words. He says that
''the prices that are governed by the
volume of current money are normal
prices. Scarcity, on the one hand, or
superabundance on the other hand
mand for it will yield abnormal price
for that commodity. Scarcity, abnor-
| mally high price; Superabundance, abb
| normally low price. Which is to say
that price means money. What is it's
price means how much money for it,
Hence normal quantity of any COM
modify relative TO the demand for it
will afford high price or low price
for that commodity according to the
scarcity or the abundance of money.
Our normal price of wheat-the price
upon which as fulcrum our scale of
prices for wheat swings up or down
is set absolutely by the volume of our
current money. Therefore, if we en-
large the volume of money as by re-
opening of our minis 10 silver we shall
raise the normal price of commodities"
Such logic is unaSSailably sound, and
as We are 4 nation of producers there
is but one way which we now can at
tain a prosperity which will prove
stable and permanent, and that is by
increasing the volume of sound money
through the opening of our minis to |
the free coinage of silver.
WE DARE THEM TO DO IT.