Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-09-17


gists of Wall street. But let us say in
the interests of fair play, that when in
January of 1894, our gold reserve had
dropped to $74, los, 40 fall of $40 ,00O,-
COO in 60 days and the ablest financiers
OF the party, barring Senator PETER,
Jerry Simpson and Mr.. Bryan, saw dis
| aster impending the issue of
$50, 100000 of bonds was enjoined by the
advocates of free silver-it was at this
critical juncture that Wall street New
York bankers, trust companies and in
vestors) came to the rescue of the credit
| of the government, and within two days
subscribed the $50,000,0 900, sent it to
| Washington and restored public conf
| dence as it could have done in no other
way.
The fact remains that few have been
able to dodge the fury of the financial
gale that has been blowing so fiercely
for the past 80 months and more.
Alas, too many of our fellow citizens
find themselves in the sorry plight of a
| friend of mine who recently stood on
the shores of Salt lake, gazed on the
tumbling waves, and was overheard to
utter these heartbroken lines after Ten
nyson:
| Break, break, break,
! On thy cold gray stones, Oh, sea;
| If you break for 1900, 900 years,
| You can't be worse dead broke than me"
But the infallible liniment for all
governmental bruises is-more money.
Never in the annals of the republic
was there SO much idle money as there
is to-day.
Money that ought to be out working
for wages.
Money locked up in banks, money
piled up in the safety vaults, money
stored here and there.
Money! Money! Money!
1t is reliably estimated that only enc
sixth of our currency is taking manual
exercise.
That the other five-sixths is timidly
peeping through the shutters or lying
supinely on the mattress of repose,
afraid to venture out into the uncertain
weather, waiting till the blizzard blows
by.
Let us give you the figures, according
to the foregoing estimates which we
believe are authentic.
| Only $250,000,000 of our currency feels
able to be out, while the balance, or
over ST ,250,000 1000, is boarded at home.
Of this sum. over $1,000, 900 in excess
of legal requirements, lies in the city
of New York alone.
What is true of New York is true of
| the whole country.
What is the panacea offered for the
paralysis of the times?
The free and unlimited coinage of sill
yer at the ratio of sixteen to one, with
out consulting any other nation under
the sun.
Well, that is juggling poetry, but dis
reputable prose.
The remedy is the free and unlimited
coinage of the white metal, because it
will increase the circulating medium
and make times better.
That is the cure-all prescribed by the
loquacious, if not learned physicians of
the silver school.
Let us see. Let us diagnose the dose
as well as the disease.
Let US not, In our desperation, gulp
the first prescription offered. Let lis not
run after quacks. Let us see.
Will you be kind enough and fair
enough to admit that you must have
the money before you can bask in the
sunshine that its expenditure brings?
Of course you must admit that.
Now kindly instruct us, my silver
friends, how in the name of the great
"Hocus Pocus" we are going to come in
for our royal share to which we will
both agree we are richly entitled IN the
distribution.
Will we get it by the hatful, handful
or spoonful?
How will we get it?
After we have free coinage, the prob
lem that causes us trouble in job lots,
is how we shall have free distribution,
so that we will not be left out.
Listen!
Only quarter of a billion of our stu
9aaf Gus sa2s, and !, hall billion OF money