The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-08-20

and besides these items there are many
more. The farmer has thus found com
plant against the gold standard. The
wage carners have been injured by Il
gold standard and have expressed them
selves on the subject with great cmpha-
sis. In February. 1895. petition asking
for the immediate restoration of the free
and unlimited coinage of silver ut IL 10
1 was signed by the representatives of
all or nearly all the leading labor organ
izations and presented to congress.
Wage carncrs know that while gold
standard raises the purchasing price of
the dollar il also makes il more difficult
10 obtain possession of the dollar; they
know that employment is less sure and
unemployment less certain. \ gold
standard encourages the boarding of
money because money is rising: il also
discouragcs enterprise and paralyZcS IN
dustry. On the other hand the rcStura-
ton of bimctalism will discourage hoard
ing, because when prices are steady or
rising money can not afford 10 lie IDLE
in the bank vaults. The farmers and
wage carncrs together constitute con
siderable majority of the people OF the
country. Why should their interests he
ignored in considering financial lcglSlH-
ton? 4 monetary system pccllnlal1ly
advantageous to a few SyndiCatcs has
far less TO commend ii than Il system
which would give nope ana encourage
mcnt TO those VINO create III" III, ION
wealth Our opponents nave mad"
special appeal TO those who h9Id hre ana
life insurance policies, but these p3hcy
holders know mat me flsihG Slaillird
must be OF more b"noili 10 the COMPANIES
than to the policy holders
"Much solctudc has been expressed by
our opponents for the dcpoStors in say
inps banks. They constantly parade be-
bnrc these dcpositOrs the advantage of
cold standard. but these appeals will be-
i'm vain. because savings bank dcpostors
knoW .i,,t "I,,u, ET,n '' thm ,a" Ioso
,hoi,. JnmH.it. Lncoucn Of tLr iuoIiIiti.s nf
Tho han,s IN cnlIcct their assets. and
,ho,. stiii lrnv, tIot If thn onIL standard
H. - cnntimnn indnfnitnlv thcv NAV Inc
nomnoIIod to withdrnw tioir innnsifs in
,,,Ja,, A., nov Eviu, ovnnngns /, IL only
wncosearr ~ to notn tho increasing nuinhrr
~ foiIuro. IL in "rder to know flat n pold
ytondord is ruinous tn merchants and
manufacturers. These business men do
not make their profits from the people
from whom they borrow money. but to
the people to whom they sell their goods.
If the people can not buy, retailers can
not sell. and if retailers can not sell.
wholesale merchants and manufacturers
must 20 into bankruptcy. The rising dol
lar DESTROYS the earning power of those
who reduce their liabilities. and as divi-
dcnds can not he paid until salaries and
fixed charges have been satisfied the
stockholders must bear the burden of
hard times. Salaries in all business oc-
equations depend upon business cond-
tiOns, and the gold standard but lessons
the amount and threatens the reduction
of such salaries. If the present policy
continues we must expect the controversy
between the taxpayers and the taX-catcr
10 increase in bitterness.
me professional Glass; III the man.
derive their support from the producing
classes ana only ENJOY prosperity Wheh
there Is prosperity among those who ere
ate wealth. ! have not attempted TO
descrlhc the erect OF the goid standard
upon all ciasseS-ill iact, nave only
time to mention tcW-but each person |
VIII he able to apply the principles stated |
to his own occupation.
ut must also be remembered that it is
the ueSlrc OF people generally to convert
tnolr e"iI'iSS Inlo reaI or personal prop |
'r'E' ms pclhg true, III considering |
any temporary advantage winch may |
come from system under which the dol |
i'lr rises III us purchasing power, 1t must
iot W lorEottcl tlat me dollar can not
puy more than formerly unless property |
sclis Tor less IMAM formerly. Hence 1t
VIII ne seen that large portion OF those |
VINO may ma some pccunlary advantage |
III a goa standard VIII discover that
thcir LOSSES exceed their gains.
ronn,ts , SIa'' thn "nIrripI ps our o.
InLtnr .lna" ,,,'i .Ii', n ,,,' . " 'nr
solvent honi. E,n,,,. !" ''"t ,'"r VI "S
lishcd Inv - Solvnnt hnul,s shor's ti,o+ T,n
,ssots "y"onJ ~ i; "i'Hn Dio" '""' Wv
sew v,biln ,hn Ln,,l. 49,, a,'", 80 ~
If m"nnv f. ;tU Ion;,ar1. 10, ,',., %iii'Wlt
anil, omoch an b',I ~ ~ i'S i'ot
,o no,, IT, Jn'n ,'ii ~ i,1"ta anu n"trs
II or"t'a h., ',,'L "". -" "uuito',
md ,urnIn,, WI" " o'H'r i'G '"ii,'l
In ,.,lun aia,.I,. ' I,. H., "U'Ii - ,iHinS
.hort Tina i,HI "I'tN ii,''!' w 'i''N.nS
ty ovoid In.s II ""w ,,'M',,S S"'u SWIFT em
n, r,u;JIr ,I, i",I' ~" - W. "i' i"il,
hnc,nspn "f had doIts ,I H. "pi !" ,"Su ,'I'r
the increase in the nurchosin,, nnwnr nf
it's capital and surnius
.It ,,,,,,. - .I.,,.,,
i m,"1t w "u,ln'''u, however lnat
,' ",,I ,, toi'i'il'c 'hS business OF
i','',;, nioNol Nun 'ne ordinary hahklnS
~. anu tlcSe may make enough III
NJ n's"'ia'iohS ol ioans 10 offset the
losscS arlSi,lS Ill iegltimate banking bust
MSS AS lollE us human nature remains
Us II Is there VIII always be danger that
unless restrained by public opinion or |