The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-08-14

classes and can only enjoy prosperity when
there IN prosperity among those who ere
ate wealth. ! have not attempt. Il 90 de
scribe the effect Of the gold standard upon
all classes, Ia fact, have only had time 10
mention few. but each person will h.
able to apply the principles stated 10 his
own occupation.
II must also b. remembered that IL Is
the desire VI the people generally 10 con.
vert their earnings into real or personal
property. This being true, In considering
any temporary advantage which may come
from a system under which the dollar
rises IN H. purchasing power, Il must not
be forgotten that the dollar cannot buy
more than formerly, unless property sells
for less than formerly. Hence Il will be
seen that n large portion u those who find
some pecuniary advantage Ia gold stand.
ard will discover that their losses exceed
their gains
Il II sometimes asserted by our opp0-
uents that hank belongs 90 the debtor
class. but this u not true Of any solvent
bank. Every statement published by a
solyent bank shows that the assets exceed
the liabilities. That Il 20 Nay, while the
bank owes a large amount Of money % is
depoitors, Il not only has enough on hand
IN MONEY and notes 10 pay It's dcpositurs,
I hut in addition thereto has enough 20
cover its capital and surplus. When the
dollar is rising In value slowly a bank may
/ by making shorttime loans and taking
[ pood security avoid loss, but when prices
[ arr falling rapidly the hank il apt 20 lose
more because of bad debts than Il can
/ gain by the increase la the purchasing
| power II IT, capital and surplus.
Ii must be- admitted, however that SOME
I bankers combine the business Of bond
I broker with the ordinary banking cuisines,
and these may make enough IN the negO
l tiation of loans to offset the losses arising
[ In legitimate banking business. A. Iona
a. human nature remains as Il l. their
will always be- danger that unless 70
strained by the public opinion or legal en-
actment those who see a pecuniary proli
for themselves In certain condition MAJ
I Weld To the temptation 20 bring about tina
desire Jefferson has stated that one %
the main duties Of the government h Il
prevent men from iniuring one another
and never was that duty more importan
than Il 4 to-day. Il II not strange tia
| those who have made n profit hy furnish
ing gold To the government IN the hour o.
H. extremity favor financial pulicl
which will Keep the government depend
emit upon them believe, however, that
sneak the sentiment " the vast mniorit,
81 the people Of the United States when
say that a wise financial policy admin.
tered IN behalf ~ all the people wouli
make our government independent ui AM
combination Of tinanciers Of iorcign or do
nestle.
Let me say n worl now In rcgaUi to cel
tain persons who arr pecuniarily hneiitc
hy gold standard and who favor h, no
from desire 20 trcspass on the rights d
] "a. HEa ssir. 80
which surround them blind them To the II
feet of the gold standard upon Others.
shall ask YOU Ia consider that language q
two gentlemen whose long public srrvic
and high standing In the party 60 whic
they belong will protect them from advers
criticism by our opponents. In 1879 sem
tor sherman said The contraction ~ N
currency Il n far more distressing opcri
ton than senators suppose Our Ow
and other nations have gone through thi
operation before. IL II not possible 90 tab
that voyage without the sorcst distress. 7
every person, except capitalist out ~ deb
or salaried officer or annuitant, 10 II
period Of loss, danger, lnssitude Of trad
iall uf wages. suspension OF enterpris
bankruptcy and disaster. IL means rul
10 an dealers whose debts are twice the
business capital, though one-third lc
than their actual business property.
means the fall Of all agricultural prOdu
ton without any great reduction III take
What prudent man would dare 90 build
house. n railroad, factory or a barn wit
this certain fact before himi
AsI have said bofore, the salaricd oiic
referred to must b. the man whose salal
n fixed for life, and not the man whose NJ
AIRY depends upon business condition
When Mr sherman describes contract,
Of the currency ~ disastrous 10 all the pc
, pie. except the capitalists out Of debt az
, those who stand In n position similar
] his, be il stating truth which must
apparent 20 every person who will give q
matter careful consideration, Mr.. Shs
\ man was at that time speaking ot the GO
traction ~ the volume OF paper Currrnc
1 but the printiple which he set forth a
plies. II there Is contraction u the v,
e ume III the standard money ut the worl
Mr. blaine discussed the same prinCiT
. Ina connection with the decentralization
3 silver Speaking In the house of wpl
sentativcs on the 5th Of Feb, ISIS. he sal
r ~ believe the struggle now going ON
this country and other countries for
: single gold standard would, u successful
nj produce widespread disasterin ana throu
u out the commercial world. The destrt
a tionof silver a. money and the cstahlishi
of gold as the sole unit Of value must ha
e ruinous effect on all forms u proper
except those invested which yield a tX
h return In money These would b. enc
mously enhanced In value and would ga
n dispruportionate aud unfair adyania
A over every other species Of property.
J. it strange that TIC "koldcrs oi invc
ments which Yield a fixed return
money" can regard the destruction Of .
Yer with complacencyf We may not Z
4 meet the holders ~ other forms II pre-
, erty 90 protest against giving 10 money
u observation-disclosures and unfair adyanta
over every other species Of property
the relatively few whose wealth consh
?. largely Ia fixed investments have q rig
20 use the ballot 60 enhance the value
their investments, have not "a q rcst 90 /
q people the right 10 use the ballot to pl
, iect themselves from the disastrous con,
auences OF a rising standardi The peoI
who must purchase money with the pl
lucts Of toll stand In position entire
> different from the position u those "
p, own money or receive liked Income, 4
n wellbeing u the nation-aye Of civilil
ton itself-drpends upon the prosperity
3. the masses. What shall Il profit us 20 ha
n dollar which grows moro valuable eve
day II such dollar lowers the standard
n civilization and brings Distress to the n
a plei What shall u profit " II IN trying
- raise 1ar credit by increasing the purch
BE- ing power Of our dollar We destroy q
=, ability 70 pay the debts already contract
hy lowering lhc purchasing power
or, which these dtlis must b paid II u
nsscrtei that the cold standard VII ena