Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1895-05-03

conditions. which made !; easy for the
debtor TO iquidate his indebtedness.
Today the same condition exists. and the
government aud the money interests de
cline Ia recognize the true situation. and
the debtor Is deprived ofany opportunity
tn meet has obligations, only to pay two
dollars for each dollar of his debts. This
absolutely cannot bc done. and the debts
OF this country can never hepaid till som,
favorable legislation opens up the way oi
putting our property interests and our
money nearer on par with each other.
The Governments position is To- keep
the finances of this country in harmony
with the conditions of the money in the
leading nations of the world with which
we do business. This. under almost any
circumstances. would seem To lie an inn
perativc necessity, but when'this system
is bankrupting a majority of our labor
Ing and business men, who produce nine
tcnths of the wealth OF this country, it is
time To- legislate for ourselves and put
our people again in Il condition to b,
prosperous and happy. Without these
essentials there is no continuing pros.
perity with any government or country.
There is no sound reason why the owner
of money should he exempt from the
disastrous effects brought about bv the
appreciation of our money standard any
more than all other classes of our people,
who own nine-tenths Of all the wealth
OF this country.
The class known as the money class
and who represent less than onc-iourth
OF the wealth of this country,
are heard often to make the unfair
statement shat men are legislating to
pay their debts, with money not of the
value of our present gold standard.
These money loaners can justly be con
sidered selfish in the matter, and not
willing to bear their fair share of the bur
den, from a condition which the borrower
is no more responsible than the loancr.
The banks east and west cling tenaci-
ously to the single gold standard, which |
is a surprise to all other business inter
ests. All securities held by banks are
by the same measure that |
measures all other property and comes
within the same shrinkage. All their in
dividual paper is subject to the same |
Shrlnkage that wipes out and renders
less valuable the makers of allcommercial |
paper, in times like the present. \ bank |
is more seriously affected than any other |
money or commercial interest by any |
that may hasten a collapse.
Legislation should be had at once, and |
a broad and sound currency bin enacted |
to take the place OF the present national |
law, which has been burden to |
he people, since the day the bonds at
tanned a premium aud the banks retired |
all their circulation that they were not |
to keep, and took three hun
bred millions of money out of circulation |
without any notice to the people. The
new currency law should give AS an am
pie volume OF currency. State and Ma
IionaE banks should be allowed to issue
upon the same conditions and !
Examined by the same National Bank ex-
aminer. The act should he made al
-'">ti'S ~ Dauh.IS ~ taKe ouU Lne VOL
lme OF currency needed by the people Tor
all business purposes and to retire any
or gIecnbaCkS that are harmful
70 our interests in maintaining our gold
-eserve, Such legislation would restore
untldence, and bring relief TO the people.
i it does not, one year atterits adoption
rec coinage of silver will be the result.
ma each day Congress neglects to give
he people relief from the present stu
'tIon, is coming the chain that binds the
ountry to the experiment of free coinage.
OF our people arenot in favor
1t Tree coinage, but q large majority of
hem, as choice between free coinage
md all its untavorahle results, would
'ote for it today, as q great relief from
he present condition.
NJ. BARTLETT.
Minneapolis. April %, 1895. !