The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-22
THEY ARE BADLY SCARED
New York sun Issues a CRY of Warning
Against the Silver Craze.

New York Sun Issues n Cry of Warning
Against the Silver Craze.
New York July Fire silver and It's
probable effects upon the business IN
terests of the United States is engross-
ing the attention Of business men
throughout the country. The agitation
of the question and the fear Of Its win
ming in the coming election have already
caused serious declines In the market
values Of almost all securities actively
traded in. Declining prices in specula-
tive securities are charged directly TO
the free silver plank adopted by the
Chicago convention. Yesterdays mar
kets continued to reflect the feeling re-
gerilng the free silver entertained by
the average business men.
What this effect viii be and how the
effect can be prevented an article in the
New York Sun, which reads as follows
pretends 10 show:
'"The action Of the Chicago Demo-
cratic convention IN declaring for the
free and unlimited coinage Of silver at
the sncien: ratio OF Is TO ! brings
sruarely before the American people the
choice between maintaining the gold
country for sixty-two years, and substi-
tuting for ii silver standard, which
VIII reduce the purcha sing price of the
dollar by nearly one-half, and to that
extent win defraud every creditor VINO
now has debts payable to him in lawful
money of the United States That the
decision will be overwhelmingly In favor
OF gold no man who has faith in the
honesty Of his fellow-citiens and in their
determination TO uphold the nations
financial honor, is willing to concede.
b'rt, nevertheless, an uneasy suspicion
prevails that the rogues may be In the
majority and cannot be baked of their
disgraceful purpose"
In view OF this disa greeable POSSIBLE
ity prudent men are beginning to con-
slider what precautions they shall take
to protect themselves against the sue
cess Of the silverite scheme to deprive
them of their dues. The first and most
obvious step is tosvote the Republican
ticket themselves and to get as many
more people as they can to vote II
likewise Contributions OF money are
needed to assist in carrying for gold
the doubtful states. and they should be
made freely. Prevention is better than
cure, and the election Of a president and
OF congress pleugeu TO MAINTAIN the
gold standard will render superfiuous
any further defensive measures. Fail
ing TO secure this barrier against spoil
alton. other expedients remain. which
ii is not inopportune to discuss in ad-
vance. in order TO be prepared TO make
use OF them as soon as the necessity OF
doing so arises.
The owners of real estate and Of tan
gible personal property will neither lose
nor gain by any alteration in the money
standard. Hence, every one who has
money at his disposal can protect him
self against loss through free silver by
converting his money into land. houses.
and merchandise OF various kinds. II.
besides, he borrows more money and
uses ii for the same purpose he viii
make a profit on the transaction at
the expense OF the man from whom he
borrows. Under the reign Of silver at
16 to l farm or a house and lot now
worth $4,000 Will be worth 500 900. a
bushel Of wheat now selling for so cents
Will sell for 81. and sugar, coffee, tea
and similar articles will advance in the
same proportion. Few people. however.
have the knowledge or the facilities for
engaging in transactions OF this kind.
and the attempt Of any considerable
number TO undertake them would soon
render them impossible, except upon