The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1895-04-19
Mr.. HARVEY REPLIES.
The Blmetallic League Chairman Submits
a Letter in Answer to Cleveland.


Letter in Answer to Cleveland.
CHICAGO, April 16.-Mr. w. H. Har-
vey. chairman of the executive com
mittee Of the Bimetallic league, whose
headquarters are in Chicago, prepared
yesterday the following reply to Presi-
dent Cleveland's letter to the Chicago
committee of business men:
To His Excellency, Grover Cleveland, Presi-
dent:
CHICAGO. April 15-Dear Sir: In reply to
sour letter addressed TO committee OF BUSH
ness men Of this city. re wish to say that the
committee that waited on you, and the persons
who attached their names to the petition such
committee presented. did not represent ma
iority OF the business men and citizens
OF this city, who take q deep interest
in the welfare OF this republic They
represented that class that owns money and
securities payable in money-fixed incomes.
We respectfully submit that your letter does
not present the true merits of this controversy.
You call the attention of farmers and wage
earners TO the fact that raising prices. while
enabling them to sell their products and labor
at higher price. will also cause them TO pay
equally more for what they purchase, but you
neglect 10 say that your statement il not ap-
plicGele tc debts. With prices coming down
regularly and steadily since the demonetiZa-
ton OF silver. our merchants. manufacturers.
and the people generally, have been doing
business on 4 falling market. tn It the time
intervening between the purchase OF their
merchandise or raw material and placing it
months after on the market has removed the
margin they would have otherwise made.
This shrinkage in values. added to the ordI-
nary risk AID expenSa Of business. has lead to
an ever-incre3SinG volume OF Gcbt-to a money
lending per.Od-urtil it has increased. all told,
public and private to about 100000, about
two-thirds OF the total value OF all tie prop
erty il the United States.
Money and those debts payable in money
have been steadily increasing in exckanCeable
value with the property o; the people. u debt
for Si.0O} that 200 bushels Of wheat would
have Paid ten years ago now requires the
farmer to give Up 2.Oc0 bushels Of wheIt in ex-
cnan-e for these dollars with whicl TO pay
the same debt. The debts row in existence
are principally Old Ceb:,. Or renewed or re-
funded debts. or rev debts contracted TO pay
oc debts, or debts the people have been
forced 20 contract bv reason Cf
the continued decline in prices. Tie
owners OF products must now give up
twice Is much property 10 pay their taxes aS in
lS7a- Seventeen thogsa7d bushels O. wheat
would have paid the presidents sg!ary C- - -
40 il lS73, ana it now requires 10000 bushels
o.: wheat to pay YOUR annual galarv o: 5000.
We have constantly pointed out u the peop.C
the ever increasing interchangeable value Of
the creditors dollar. and 20 the reason why il
was Increasing. but the Influence Of these cred
!torS has dominates your administration anG
YOU insist OF such currency u they nave eS-
taO.iSked. a q sound currency.
Il means the condScaticn Of the property a.
the people Oy the sale OF p-opertY under mort
cages. judgments and executions. It means
that fixed incomes viii wipe cut the interest OF
stockholders in our railways and corporations.
II il is injustice to restore prices 30 THAI
people can exchange their property for q Sufi-
sent number % dollars to pay their debts and
bring happiness ana prosperity % our land
again. Z: was a greater injustice to destroy she
value OF prope-t- and enhance the value OF
money by demonstration OF silver and the eS-
adjustment Of single gold standard.
So. that when you III the attention Of the
farmer and waEe-ear1er to the fac; that rising
prices viii maize him pay more for what ne
buys. YOU Sso-id ~ the same time CAL his at
tention to thc fact that il would enable him
20 pay his debt free him from bondage il
which he has been uujGst!y placed ana
again make him the owner OF home
ard free and independent citizen.
We might say further to him that
and would thus orea up the channels Of com
merce and trade and give employment TO
millions now idle. I; is not more money that
We want = borrow. but 70 pay OF what we al
READY owe. The more money We borrow The
more We mus; pay and the annual interest O.
all our public ana p-ivst- debts i Iow more
than the ANIMAL rro:i1S Of business ani p-oduc-
tion. Where VIII i end: