The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-27

| money or our fOrefatherS, and the
money of the Bible. Can any money
! be considered sound, honest and faith
full that hides at the first approach of
real OF fancied danger, and at time
| when it's service is most needed? Is
gold the servant of man and the We
| hicle Of commerce, or are we servants
| of the God of mammon? When this
nation desired to borrow ST., 000, 600
recently, the largest gold syndicate in
| the world made its deliveries in partial
amounts at different times in order TO
not disturb, as they said, the gold re-
| by it, and in addition, by economy and
less than one dollar per capita of the
people of the United States; the
amount is insignificant as compared to
| our needs and the volume OF business
carried on by our people. If gold
| was in daily use in current business,
| the abrasion and consequent loss
would be q considerable sum.
The free coinage of silver at 16 to 1
| would be a great benfit to the manu-
/ facturers of this nation. Should the
/ manufacturers Of France, England or
| Germany refuse to take our silver at
par in payment for purchases made Of
them, our manufacturers coud do so,
| having faith in the stability of our gov
| eminent and resting in the assurance
silver would pass at par among our
people as domestic money. The gov
/ eminent collects from our people about
$500, 100000 per annum, which it
should accept at par in payment Of
! taxes. customs. internal revenues, etc,
any and all kinds of money issued
by il, and in addition, by economy and
honest management in public affairs,
silver could be easily maintained at
par in the United States. If this gov
eminent spent no money in five years,
it could absorb all our circulation.
1t is asked, how will free coinage
benefit you who have no silver to sell;
how will you obtain any of it? With
the free coinage of silver, the supply
of money will be increased; money is
of no use to anyone except to lend or
spend it. Mining is the chief occupa-
ton Of the people living in the United
States, west Of the 104th degree of
longitude. Tens of thousands of men
are engaged in mining, their pros
perity will result in our prosperity,
mining Of silver increases the output
of gold. If gold and silver is pro-
duced, under free coinage laws, money
is produced, the increase in the supply
of money reduces its purchasing power
thereby increasing the price Of labor
and commodities as well as its power
to subjugate and control men. If
those around you have no money, how
can you acquire any?
The purchase Of 2,OD0,O00 and after
wards 100000 ounces OF silver per
month, by this government, was an liz
suit to silver as money Of final pay
ment. Whether this was the effect OF
q compromise or purposely done, it
has had the effect Of depressing its
value; the RECOMMENDATION of silver by
free coinage at 16 to 1 will increase
its use as money, thereby increasing its
value, and filling its place in the chan
nels of trade will decrease the use of
gold to the extent that silver replaces
gold. The bullion dealers in England
have succeeded in reducing silver to
a speculative commodity, SO as to reap
the profit the handling of commodity
affords.
The English government through the
Bank of England guards the national
gold reserve by placing a barrier, in
the way of a premium, against large
Withdrawals. This is effected by rails
ing or lowering the rate of discount
from time to time. as the demands for
gold increase or decrease. Ii the de-
mand increases, the premium or rate
of discount is raised; if the flow of gold
into the Bank of England is larger than
the withdra walls, it reflects condition
sufficient TO warrant a reduction in
the rate, which is accordingly changed
from time to time, regardless Of the
rates made by other English banks or
bankers.
The French government reserves the
right to pay all demands in gold or
silver as best suits its pleasure and con-
venience. France is said to be the
best financiered nation on this earth;
when the government needs money, in
tereSt bearing bonds, called rentes.
are issued in small denominations for
popular subscription by the French
npODlp With the f1r-Spainp result N
safe plan Of savings is provided for
the people, the interest money is paid
back among them, and every French
man has an interest in maintaining
the permanence of the French nation
aside from his patriotism) that his
bond or bonds will be paid In mat
tiers pertaining 10 finance, Frenchmen
have generally evidenced a remark
able ability to look out for their own
interests.
With Us. our bonds are offered in
large denominations and solid issues
10 the nabobS OF wealth and sent
abroad. thereby: continually draining
our people of their savings: further
more, these bonds are held as wea-
pom over us, and we frequently hear
the warning that they will be sent
home if we do not maintain the single
gold standard. l answer. let them
come. we are now as near bedrock
as we will ever be again in this GEN
Grafton. Let US go down to first prin-
ciples and take fresh start If we