The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-09-10
ERE CONVENTION


the value of from day to day? Shall
the American farmer pay the mortgage
on his farm in dollars worth one nun
dred cents. and sell his wheat for dol
lars worth fifty three cents? The
payment of the mortgage will surely
lo CXaCted before free silver begins IT'S
reign. VIII the farmer ana the work
ingman sell what each has to oter, anu
purchase what each must provide. with
dollars whose value everybody knows,
and has known from the foundation OF
the government, on must every man
carry with him a ready reckoner, To
ascertain daily because of the constant
fluctuations in the price of silver. how
much his hushel Of wheat or his days
work has yielded him?
The debtor class" is a comprehen-
sile term. 1t includes all VINO are IN
debt, whether the amount he large or
small. and the people to whom the uept
is owing comprise the "creditor class.
after You deduct the people OF inue-
pendent fortunes, who are out Of Dusi-
ness, you have all the other people oil
the country included in the two classes.
If Won ave a wage-earncr and have
completed your days work you belong
10 the creditor class and are entitled To
Nuur wage in the best money in tn"
land. Your employer Is your debtor
and should pay you in the same money
which he requires from his debtors.
II you, my friend, belong To the great
debtor class of the country, ana nave
property and health, or ability to earn,
hut not the ready money, be careful
how YOU would hasten the day of set
Element 10y voting for 4 change, which
In every land. and in every age, has
been ACCOMPANIED by the most disas-
irons results,
The United States probably can have
free coinage of silver at any ratio which
viii satisfy the people, when we reach
the point where we are entirely 1fee
and independent of every other CONNER
cinl county. That time must be in the
distant future, because we cannot DO
it 80 long as we are Il debtor nation. or
So long as we have business relations
with other countries. The man who
burrows money from his banker can
generally continue to do so as long as
he meets his engagements and main
tainS his credit. If the time comes
when he fails to honor his obligations.
or his credit is impaired, the banker
calls his loans. Is it not true with ma
ti0ns as with individuals? lie may IN
yoke the spirit of &c. abuse the capi-
talists, threaten anarchy, preach So
cialism. array labor against capital, or
f-the-roaders in wild procession.
hut the banker win enforce the loan.
sell the collateral and close the books.
PANIC AND FINANCIAL RUIN IN
NOLNED.
The change from the present money
standard to free silver involves busi-
ness revolution, disaster and ruin.
II ultimately a silver standard would
la ,,-h oh t,Io nc N, tll,
category of free silver nations, the
pathway from the gold standard to the
free silver basis is fraught with dan
gers and disasters which the imagina-
ton can hardly conceive.
EVEN the fear that the government
would not he able to maintain gold pay
mrnts, and that we would be forced to
a silver basis has interrupted business.
closed factories. thrown men out of
employment. sent money into hiding
and pdralyzed the industrial and
mUuey-ealnirg spirit Of the people. If
this condition was produced by threat.
what of the realization Of the threat?
The owner of money earned by honest
toll. in the exercise of strict economy.
BY depriving himself and family of the
comforts of life, will not give up the
dried fruits of his years of labor.
whether it he money. a home. or honest
investment. until he is satisfied the
change to a silver basis will he to his
advantage. If he has saved something
from his earnings and has invested it
in the savings bank. building associa-
tion. trust company, life insurance pol
icies. or other securities. he will not
forget that he earned that money when
dollars were as good as gold. He will
refuse to take fifty-ccnt dollars. The
fear that he will be compelled tO take
money of such dehased value will in
ducc him to withdraw it before the
cheap silver dollar comes.
In the whole country there werc last
year five million of our fallOw-citizcns
who had savings banks deposits am
ounting to 81 l.S0O O0o, 900 in round num-
bprs. They cannot be very rich peo-
pie because the average deposit is only
about $500. DO you imagine they will
let their money stay in the bank until
IL is worth, in purchasing power, in this
country or any other country, only one
half of what it was worth when they
earned 1t? Imagine these savings
banks denositors demanding their
money the day after Bryan's election
if you can stretch your imagination that
far. We had on the first day of last
July, according to the report Of the
treasury department, 81 509. 600, 900 of
currency in circulation in this country
about SS0OO00,OO0 less than would pay
the saN inss hanks deposits. An at
terCnt to withdraw these deuosits
would brlng ruin to the banks and dis
astGr to the 5000 900 of ollr poorer poo-
III" whose average savings are less than
s+cU, and would only set the bali rolling
Take larger view Of the field. The
banks Of all kinds. the trust companies
building associations. and other kin
I'm
sand million dollars of money on de-
roiit which sooner or later must Ee
paid. 1t is owing to the people of tho
United states. When they want il they
have the richt to withdraw it under
the terms Of the deposit If tn at
tempt should be made now ii would re-
quir" three times the amount of all the
money in the United States To pay il
of. If they wait until free silver is an
accomplished fact. they viii get their
pay in the deprecated currency. if they
set IL at all. An immediate demand. a
demand for $1,000. .o0o. 900. when the en-
tire currency Is but little over 81. 800, e
100000. would close all the banks of the
country, paralyze all business and
bring in its train such destruction of
values as it Is impossible TO describe
or scarcely comprehend.
INSURANCE POLICIES.
There is another class who could not
protect themselves if they would.
Among them are those who own life
and accident insurance policies. or are
connected with mutual benefit corpor-
ations. assessment and similar insti-
tutiUns for the insurance Of life against
death ar accident. Many laboring men
and women are policy or shareholders.
They have paid their good money for
the indemnity. It amounts in all to a
total insurance of more than $4,000.
100000. When the day of settlement
comes, if this country is then on free
silver basis. those policies will be paid
in free silver values.
Nsain, the thousands of disabled SOL
dicrs and the widows and orphans of
their fallen comrades. whose tables are