The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-02-16

y
increased production will be required
to abate it. It is like q man rowing
against strong current. There is an
other point which the goldbugs careful
~ overlook. The reports admit that q
very large part of the increase is caused
by the working of the mines once I'M
profitable, which have become profitable
because of the increased value of gold
that is, supplies and labor have be-
come cheaper. And the funny feature Of
it is that the same men who quote these
reports as authority deny the apprecia-
ton of gold. Now, if the increased
product of gold does really make it
cheaper, will not all these low grade
mines be again abandoned? You see, it
will work automatically. AS fast as
gold cheapens, though by ever so small
increments. successive low grade mines
will be abandoned, and SO the metal
will remain dear.
International Agreement.
Europe is not yet well supplied with
gold; India is just beginning to put it
in place of silver, and China and Japan
are yet to be dealt with. have watch
ed that movement closely and found it
difficult to get the figures. The scheme
is plain enough. The indemnity is to be
in gold if possible, and Japan's war
debt is to be funded in gold bonds. It
was stated some time ago that $50, 000,-
900 more would be required there, but
think it will take 5000, OOO,OOO No.
there is no relief to be hoped for from
that source within any time that the
present generation of debtors need con-
slider.
"Well, what of the next proposition
that bimetallism can be brought about
by international agreement?''
''That sort of talk is out of date. In
the name of all that's sensible, why
should England join us in such pro-
ceeding? With what sort of face can we
ask men who see their dollars growing
in value every day, and their claims as
creditors the same, to join US in stopping
that process? And besides our own bond
and mortgage holders would find way
to defeat it. AS to congress, of course
this one will do nothing. and as to the
next-why, Solomon himself could not
guess what the house in the Fifty fourth
congress will do. AS to half the MEM
bers, nobody knows what their views are
on any question not yet clearly defined
in party platforms. In the senate the
majority for free silver will be much
larger than in this congress, so there
will be a deadlock, and even if. it were
possible for a compromise measure to
pass Cleveland would veto it.
A Concerted Movement.
''In speaking of statesmen we do not
use the word conspiracy. but speak of a
concerted movement, and so styled it
when the extra session was called. /
told them that the repeal of the Sher-
man law was only a beginning, and
some of them promised US solemnly that
the thing should stop there and silver be
recognized in better way. In fact,
the war on silver Immediately became
active and was followed in regular
course by war on green backs. If this
is successful, the next attack will be on
the silver dollars. The great object is to
abolish all kinds of money except gold
and such paper as the banks may choose
to supply. The banks are to go on their
credit, with the duty of maintaining
gold payments laid on them, and then,
whenever pinch comes, they will sus-
pend as they always have done. How
ever, nothing that could be done now,
not even the abolition of all greenbacks
and silver money, would at once stop
the outgo of gold, for we must pay our
yearly debt to Europe and cannot pay
it in produce because that is too cheap.
AS to consumptive demand forcing re-
vival of business, see very little in it.
The farmers can live with very little ex-
penditure of money, and they will do
it because, at present prices. they can
not help themselves. -
''Will these things cause a political
union of what might be called the anti
goldbug parties in the west for 1902
81 hope SO, but it is too early to
prophesy. I think the presidents last
message and the speeches in support of
| it will help toward such a union. He
proposes that we Democrats shall, in
one act, do far more than the Repu bic
| ans were years in doing and for which
we denounced them on every stump
namely. to establish gold standard,
destroy the greenbacks, contract the cur
rency, change noninterest bearing debt
| to an interest bearing one and give the
bankers control of our finances. But
must close as began, by saying that, as
the money power is united and its OPP
ponents are not, see no hope until aft
er 1896 and look for two years of de-
clining prices, with all the distress to
result therefrom.
I have given the substance of Mr..
Bryan's views at length, because they
are of equal interest to those who con.
denim and those who approve. They Ger.
tainly do have a pessimistio look. but
though we may not, as he says, be able
to trust in gold miners or goldbugs
in congress or the English, suppose
we are still at liberty to continue oul
trust in God. J. 81 BEADLE.
Prasfdenf Eanra Cnuf1rrr,as1 Sinclair