The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-17
Pat COney of Topeka Championing the
Cause of the White Metal.


| the 18th inst, under the head 'Mr. Fun
ston for a 5O-Cent Dollar" you take
| occasion to condemn 3Ir. Funston be-
cause of his connection with the address
of the Kansas Republican Silver league.
1t is not my intention to attempt a de-
Tense Of Mr.. Funston, for he is amply
able 20 take care of himself, but simply
to reply to your attempted criticism Of
the address referred TO. You state:
They know that the assertion that sill
YER was the standard on which all val
ues were measured from 1892 to 1873 is
absolutely false, and rests on no foun-
dation whatever, the money standard
of the country being gold from 1884 10
1860, and deprecated paper from 1861 to
1879, and that silver was neither the
standard nor was it the circulating me
dunn"
To make such bold assertion as the
above, when it stands against the well
known history Of the country, you
should be quite certain that you are cor
rect; and you should adduce the data to
prove it. Will you be kind enough to
give the statute making gold the stand
ard money from 1884 TO 1850?
Under the act of congress of April 2,
1892, under which the national coinage
originated, the silver dollar was the unit,
and contained 3714 grains of pure silver,
and that of the gold eagle al 20 grains.
The weight of pure silver in the dollar
remained without change and was the
unit standard, until its decentralization
in 1873, while that of the gold eagle was
changed in weight three times during
this period, the first change occurring
January %, 1884, when it was reduced
from 247.5 grains to 232
And this was all that was done at
that time with either metal. They con-
tinued in this condition, the silver being
the more valuable metal, till it's demon
citation in 1873. at which time it was
worth 8 per cent above gold in the Lon
don market
1t will be refreshing to the readers of
the Capital to learn that the money
standard of the country was deprecated
paper from 1861 TO 1879, when it is re-
membered that this paper was simply
a promise TO pay dollars" the coin
standard money of the country, the pay
ment of which had been suspended.
Again you state: 'SThe Republicans OF
the Second district are not in favor of
a 50-cent dollar"
No one is in favor Of a "50-cent dol
lar" nor is anyone in favor of a 20O-cent
dollar, except the gold monometallist.
1t is not possible, Mr.. Editor, that the
present single gold standard is too high
for the best interest of the people?
There is certainly cause for the
present deplorable stagnation and par
alysis of the business Of the country.
Mr.. Editor, have you ever considered
that possibly the cause of this is the
present monetary standard of values?
All respectable econ omic writers ad-
nit that money standard is affected,
as is other property, by the law of de-
mand and supply, and may be too high
or too low. That the increase of the de-
mand, or the decrease of the supply, Will
appreciate the value Of standard money;
and that such appreciation correspand-
ingly depreciates the general value OF
other property.
The restoration of silver to the posi-
ton of standard money as it was in
1873 will increase the supply of stand
ard money, and, to that extent, tend to
decrease the value of gold and increase
the value of silver.
To put the two metals in the position
of standard money will have the effect
to put them on parity, upon the famil-
lar mathema teal axiom that things
which are equal to the same things are
equal TO one another.
And not only gold and silver would be
on a parity, but the general value or
property would be on a parity with
them. The honest, patriotic bimetal-
list favors a parity of gold, silver and
property; and this in my Judgment, is
most needed by the people at this time.
This accomplished, we would no longer
hear of the 5o-cent dollar-an dollars
would be 1O0-cent dollars every day in
the year.
But you say: '"This program will be
supported by every debtor who Dor
rowed l00-cent money and wants to pay
out with 5o-cent money, cheating his
creditor out of the difference" This is
a strange declaration. 1t is the old
chestnut argument of the Shylocks and
gold gamblers.
We should conclude from the above
that there are but two classes of peo-
pie in the Countrywide borrower and
the lender Of money. But what about
the producers of the country, the far
mer. the mechanic. the business man
who has to buy money with the COM
modify which he produces. in order 10
support his family and conduct his bus
mess? Is il right thar he should be
10 buy 209-cent money with
the property he produced at one-halt
or one-eighth of its value? No produc-
er will engage in a business and give
his time. labor and skin. and be COM
PEELED TO sustain such a ruinous sacrifice
l am rather justified in saying, in !
reply. that the program Of the gold |
viii be supported by
every creditor who loaned 100-cent mon
ey and wants his pay in 200-cent money, |
cheating his debtor out Of the differ |
ence-purchased by his labor and sweat |
the interest sacrifices.
Mr.. Editor. If you viii kindly study |
the address OF the silver league refer |
red TO. You viii find that it favors a |
l00-cent dollar and leo-cent property.
The property rights Of the people GER |
tainly deserve some consideration and |
protection as we'll as the gold OF the /
anderbilts. the Sages and the Cfoulds- 1
that the money standard shall not be /
higher nor lower than the general value |
or other property. To live AMI let live. /
To do as YOU would be done by.
Again You state: But we do not be- /
lieve that such platform as Mt. Fun !
ston has adopted viii meet with the
support Of one out OF ten Of the intel /
.igent Republicans OF the Second dis
trict."
In other words. Notwithstanding the 1
national and state platforms OF the Re
publican party declare in favor OF b.
because Mr.. Funston indors-
IS the address OF the league which de,
-lares for this principle. that nine out /
of ten Of the Republicans OF the district
would refuse 10 support him
Has IL come &c pass that Z Z Repub-
lean should favor the money standard /
established by the patriots and fathers
n ia md the con Efr-fsa, a.I 4
nized by that instrument. he thereby
forfeits his Republicanisn? Do the gold /
propose 10 read out OF the