The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1895-10-18
TIEY ALHHY8 90 TOGETHER.
A Scarcity Of Money Invariably Produces
Low Prices.
4 Fundamental Rule of Flnanee-Panies
the Hervests Of AEBitrage Broksrs-Ros-
beFs, Big and Littie-It Is Time Fer the
Peoples Awakening.


the Hsrvests Of ArBitrage BrOksrs-ROf,-
bsFs, Big and Littie--It Is Time For tho
Peoples Awakening.
James 4. Ferris, editor Of the Joliet
News, has contributed to the Chicago
Lever an article on tie money ques-
tion. Of which the following is a re-
print, omitting few opening para
graphs;
It is not the material Of which money
is made that affects our fortunes. All
men of my age have passed through
numerous periods of metal money. wild
cat, shinplasters, postage stamps, bank
notes and greenbaeks and know that for
business purposes any good money will
do the work. We did a fairly good bust
ness, and safely, with merchants shin
plasters and the ordinary sticky postage
stamps, not as we'll as with greenbacks
perhaps, but we bought land and paid
for it and made good profits in business
and felt that we were free and indie
pendent American citizens.
Complicated laws merely fatten the
lawyers and a complicated currency the
fnanciers. All money, so far as those
who work for a living are interested,
should be Of one kind, whether gold, sill
yer or paper, should DO simple money,
no one kind redeemable in another, good
for all dues, public and private, full
legal tender. 1t may be news to some,
but it is a fact that the first $50, 600, 900
Of greenbacks passed through the war
as good as gold, They were not redeem
able in another money, but they could
be used for ali purposes where coin
could be used; were receivable by the
government for all forms Of taxes and
went up to $3.50 with gold on Black
Friday. The fnanciers did not like
them, but took them all the same and
demonstrated that it is not the material
of which complete money is made that
makes it good money.
Bank paper fully secured is good as
any money except as to the expense Of
maintenance and the power left with
the banker to change the volume. Gov
eminent paper goes straight to the peo-
pie the same as gold or silver when
coined at the mint under free coinage,
but bank paper goes to the people
through loans upon which producers
must pay interest in advance, and for
these reasons and others the currency
should be composed Of gold, silver and
government paper, all endowed with
the full functions Of money The vol
ume then should be regulated by con-
gress and patriotic men placed in charge
Of the treasury.
Public confidence, the use of checks,
drafts and notes, the condition of the
crops, peace in Europe, changes in the
methods and customs of the people, the
pleasures of money lenders and many
other things influence prices, but the
volume Of money is greater than any
other one cause or all combined. It isa
plain issue between those who have
goods and labor to sell and the great
money lenders who are not producers.
In our city we have capitalists who loan
money Oil farm security only. Invest
ments outside offering double the re-
turns are no temptation to these invest
ors. We have others who invest in bust
ness buildings, but if their stores were
empty dozen years in no instance
would they attempt to do business them
selves or loan money to others to fill
their buildings So the great Roths-
ohilds, Bleichroders, Hirsches, Lazares
and Ickelheimers, arbiTage brokers, as
called, deal i'll nothing but money and
great securities, panics and financial de-
preSSions. With their cash they 90 out
into the world as q farmer with his
mower to gather the crop; hunter
with his gun to gather the game. When
ever they can decrease the worlds sup
ply of money they increase the value
and importance Of their own money.
Whoever succeeds in furnishing a new
supply (gold, silver or shinplaSters) is
an opponent and a competitor Of the
arbitrage broker. These men Or their
attorneys On friends seldom refer to the
rule Of finance Lyman J. Gage, one Of !
their followers, a short time ago, de-
Tending the Baltimore plan, said the
bankers under the plan could retain the
gold i'll America by withdrawing loans,
contracting the currency and reducing
the prices ON commodities-in plain
words, by skinning the farmer and his
kind. Mr.. Gage Intentionally or other
wise gives away the secret rule of the
great money kings-that the reduction
Of the volume of money reduces prices /
on commodities.
The gold committee of Wall street
since started this letter have sent me /
pamphlet containing the British par
hamentary bullion report of 1910, and
upon the title page III italics they have
printed that clause which prompts their
action-the clause referring to what
they please to term excessive currency,
in which the committee stated that the
increase Of Bank Of England notes low
cred the relative value of money; that
it injured the annuitants and creditors
and gave the government aud "all other
debtors" an advantage 'repugnant to
justice. IS They also truly represent that
q eeatain class of public servants would
want an increase Of wages, and it would
be difficult ever to reduce their salaries
again. The honor of parliament was in
yoked by tho committee to arrest this
increase Of prices. " 1t was the volume
they feared, not the quality.
The Wall street committee and Mr.
Gage. apparently confident of their
power, speak more plainly than common
with their kind. Mr.. Cages idea was
river, fIfif ot tho time the sherman act