The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1895-03-27
THE MONEY QUESTION.
Is Discussed by Student" in a Con
else Logical Manner is for
Free Coinage.

The writer has been an interested
reader Of the discussion of the "money
question" now going on through the
columns OF the News, between r. p. s.
and ]. II. A. A greater number OF young
men ought to be interested in this ques-
ton, for it seems to be the supreme,
pressing issue of the hour, and il will
not down at any body's bidding. More
moral stamina is needed, too, among our
young men and less fear of the lash Of
party discipline. Party lines are slowly
but surely disintegrating, and this is a
good omen.
Second.-Some time ago this item APP
peared in the Louisville Post; "The
three banks Of Bath county have on de-
post $250,000" The Post comment
ing on this item said "Here is one
county and not rich one at that. Null
tiply it by one hundred and we have a
total deposit in the county banks of $685.
100000" The Post is a rabid goldite Of
the most pronounced type. 1t doesn't
even pretend to be "friend of silver"
1t quotes the above item and tries to
show from it that the people are pros
porous The Post knows we'll enough
that that $250,O00 consists mostly Of
rows of figures on the books Of the banks
and nothing else. 1t is true the public
are paying interest to the banks on those
rows CT fg Ir s; but the money repr sent
ed 10y them has no existence in fact.
Third.-Says tie Post, Free coinage
OF silver at 10 to means that the depos-
itors will accept in payment silver at
twice its market value, for the relief of
Western silver miners" Even if this
were truth (Which it is not they would
receive in payment silver at twice its
market value and dispose of it also at
twice its market value, since the Post
holds in the same article that all memb-
ers OF society are debtors and creditors
alike. Who would it hurt ? Nobody,
according to the Posts own showing.
Fourth.-The Post says that free
coinage "means that the farmer who
sells his wheat at 80 cents per bushel
shall accept in payment silver at double
its market price," This means that the
real value received by the farmer for his
wheat would be only 25 cents per BUSH
ell in money of full value-like gold, for
instance. The Post, pretending to
answer the contention OF the silverites
that free silver would benefit the debtor
class, says, Kentucky is not a poverty
stricken state and it is not disposed to
compromise what debts it owes at so
cents on the dollar" According to this
brilliant process of reasoning, free coin
age of silver at 16 to l would make
money so per cent. cheaper. If it does
not mean this, how could the people of
Kentucky pay their debts with so cents
on the dollar? And, if money were
made so per cent. cheaper, farmers
would sell their wheat for 81 per bushel
instead of so cents, their corn for 90
cents instead OF 80 cents and all other
things in the same proportion. If not,
why not
Fifth.--The Post, like all single stand
ard advocates, believes we should never
have any increase in the volume of
money to keep pace with the increase of
population and business. The volume
OF money that sufiiced for 100000 peo-
pie OF Kentucky nearly score of years
ago the Post thinks ought to suffice for
the 100000 people we have now and
also for the 100000 we shall have ten
years hence. This means confscation OF
the property OF the debtor classes. For
the increasing population, money to do
business with, is as absolutely indispen-
sible as 1t is for the original population.
This increase in the number Of people
competing for money increases the price
Of money, or in other words, decreases
the price OF every thing bought with
money. If the price OF money increases
at the ratio Of per cent. per annur,
all debts taxes and public burdens grow
heavier and harder at the rate OF exactly
per cent. per annum. We never hear
the oddities lift their voices against the
confscation Of the property and homes
OF debtors and working people through
contraction OF the money of the country.
But let a proposal come from any source
for increasing the quantity OF money,
and the goldite editors shout 'repudia-
ton, imitation, fiatists, etc."
STUDENT.