The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1896-08-20
FOR INDIVIDUAL VOTERS.
Effects of the Gold Standard on Different
Caliings Outlined.


Recognizing the disposition of the indi-
vidual voter to consider the effect OF any |
proposed le;islati,a. upon himself, we pre-
sent to the American leople the financial
policy outlined in the Chicago platform,
believing that it will result in the greatest
good to the greatest number.
The farmers are opposed to the gold
standard because they have felt its effects
Since they sell at wholesale and buy at re-
tail they have lost more than they have
gained by falling prices, and besides this,
they have found that certain fixed charges
have not fallen at all. Taxes have not
been pcrceptibly decreased, although it
requires more of farm products now than
formerly to sec:.re the money with which
to pay taxes Debts have not fallen The
farmer who owed 81 900 is still compelled
to pay 81 600, although it may be twice as
difficult as formerly to obtain the dollar
with which to pay the debt. Railroad
rates have not been reduced to Keep pace
with falling prices, and besides these items
there are many more. The farmer has
thus found complaint against the gold
standard.
Effect on the Wageearner.
The wageearners have been injured by
selves upon the subject with great EN-
phass. In February, 1895, a petition
asking for the immediate restoration of
the free and unlimited coinage of gold and
silver at l6 to was signed by the repre-
sentatives of all, or nearly all, the leading
labor organizations and presented to con-
gress. Wageearners know that while
gold standard raises the purchasing power
of the dollar, it also makes it more difficult
to obtain possession Of the dollar they
know that employment is less permanent,
loss of work more probable, and re-em-
ployment less certain. A gold standard
encourages the boarding of money be-
cause money is rising; it also discourages
enterprise and paralyzes industry. On
the other hand, the restoration or bimetal-
lisln will discourage boarding, because,
when prices are steady or rising, money
cannot afford to lie idle in the bank
vaults. The farmers and wageearners
together constitute u considerable major
ity of the people of the country. Why
should their interests be ignored in CON
sidering financial legislation? A monetary
system which is pecuniarily advantageous
to few syndicates has far less to com
mend it than a system which would give
hope and encouragement to those who
create the nations wealth.
Insurance Companies and Savings Banks.
Our opponents have made a special ap-
peal to those who hold fire and life insur-
ance policies, but those policyholders
know that since the total premiums re-
ceived exceed the total losses paid, rising
standard must be of more benefit to the
companies than to the policyholders.
haG hv
our opponents for the depositors in say
ings banks They constantly parade be-
fore these depositors the advantages of
gold standard, but these appeals will be in
vain, because savings banks depositors
know that under a gold standard there is
increasing danger that they will lose their
deposits because of the inability of the
banks to collect their assets; and they still
further know that, if the gold standard is
to continue indefinitely they may be com
PEELED to withdraw their deposits in order
to pay living expenses.
1t is only necessary to note the increas-
ing number Of failures in order to know
that gold standard is ruinous to mer-
chants and manufacturers. These busi-
ness men do not make their profits from
the people from whom they borrow
money, but from the people to whom they
sell their goods If the people cannot buy
retailers cannot sell, and if retailers can
not sell wholesale merchants and manu-
facturers must go into bankruptcy.
Business Occupations.
Salaries in business occupations depend
upon business conditions, and the gold
standard both lessons the amount and
threatens the permanency of such sal
aries.
Official salaries, except the salaries of
! those who hold office for life, must in the
long run be adjusted to the conditions of
those who pay the taxes, and if the pres
ent financial policy continues, we must
expect the contest between the taxpayer