The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1895-09-26
Coins Financial School.
W. II. HARVEY.
k'vp--ish. q ip ls:f by CofS PusL,suINs co.
CHAPTER III.
TIIE THIRD DAY.
Official County Pspcr.

tuoug" pTcNUuNy Sssed W TIE
declared inteutiJa ca - 50, actual re-
sumption following the war, aud q re.
iurn =. the syscm of property money,
~i'h credit money BASED thereon, 4id
not take effect ill January l, 1879.
"For sowe tune it was not generally
:&nown that silver was icmonetizcd, and
t,a macy yesrs since lheo It's true
Positios ia our currcncy was disputed.
alt slowly dswned o. the country
ihas silver wan neither fish nw fpwi;
chat ike Nahoncd's colin il swung
hvlf way between me Hoor and ceiling.
"finslly the silver ncu, pushing
ahcir cause, forced ,Lc declaration irpm
she administration that oil paper money
x~ redeemsble in gold OF silver OF the
op,i.n of ihe holder. This ncaut that
they demanded the mo-t favored and
valuable Of the two--geld. The gov.
ersment had stored most Of the silver
and Issued paper money on it, which
Wa. declared 70 be redeep able ia gold.
"This cut the base VI the column
hsit in two, aud ksft ps with only half
o foundation for our 6Dsncial system.
"This d-6ucd the poitivu Of silver
rs token norey, aud il not redeemed
slirec'ly--gold for silver--,he exchange
ot the silver for It's pape, representative
would get the gold. The adiniustra.
iiou -nly wants little more Tins to
declare that silver is directly redeem.
able IN gold-thc true position OF token
money.
''ln 'hc weaHinc, daring there years,
NIL property gradually declined in value
Jns compared with gold. The decline
was psi"iully steady.
fi,csc conditions caused new debts
to he ccn,racted to pay old debts, aud
Abe volume of new iebts were rapidly
augmented.
Those who ;oald mako no;hl,y in
s'cir business toroSed money on their
properly u 80 iuto new ventures, and
fu msst their living expenses. Old
,dcht, we're refunded.
Falling prices continued, and Dor.
ysSing continued until the spring OF
1888, when the Bird column of credits
had grown enormously. IL had nov
yeachcd the INCREDIBLE sum OF .earl,
ferry thousand million dollars.
The bouded indebtedness Of III,
railroads alone was five thousand mill
ion. Every town aud city nearly fell
ihs weight of debt. Rarnis wer,
issr,gaged. pioieriy in the cities wa,
nearly oil mortgagcd.
l.e-son seven shpws the copditiot
with Us IN 1890, just before the Barius
failure.
''Lsssou eight shows tho paaic us il
began ia lS90-the result Of tho Dor
tes'ioss 6uancial conditions lLat has
bs'm brewing fvr ioug time. A 6uau'
sisl storm was now ou the country, th,
yigor and dLrsticu OF which was to b,
unprecedented ia the history Of th,
world. For u uot only Involved III,
hrst, second, asd third columns Of cred
u, but PRIMARY money itself was 10
Solved under the enoru,ous stra,,
placed upoa it.
by 1893 the conditions had grow,
worse, aud lsssou nine will illustrate i.
"1ho best barometer Of the storm
now are prices Of products and labor
The hrs is still falling, aad labor is no
Que half employed. Judged by thes
the storu is growing worse.
"iessou rp will illustrate the pres
cot husucial condition of the couutry
What is now needed is FIRST to bull,
mp the redemption money of the couu
try. By putting silver hack ia th
solumu Of redemption money We coul
Increase il fron its present. volume q
six Lund.sd million t. twelve Lunire,
milliop. This amount of redem rtio
money would varraut twelve huldre
failliou Of credit money.
This would give us twcut -fon
hundred millions of money on a SCUM
hsaueial footjqg. or about s34 per cap
jts. Whereas we aow have virtual
l~s than $50 per capita on sa issufic
ieIt and uusounj basis"
"As Coin made this last statemeu
he laid his right haod 90 the silve
bell On The table, aud as lis clear note
rarg through the room, q sigusl tha
the school had adjourned for the da,
warm aud hearty applause went u
from good percentage Of ihs $50
people IN The room.
10 he continued.)