The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1896-08-13

E'neFhl ulSNleSS, 80 long as bne ScIhlllple
for gold continues prices must fall, and a
general fall in prices is but another doA-
milton Of hard times.
Our opponents, while claiming entire
disinterestodnoss for themselves, have APP
penled to the selishness of nearly every
class of society, Recognizing the DISPOSE
ton Of the individual voter TO consider
the eifectof any proposed legislation upon
himself, we present TO the American peo-
pie 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 p~erceptiby decreased, although it re-
quires more of farm products now than
formerly TO secure the money with which
to pay taxes. Debts rave not fallen. The
farmer who owed 81, 900 is still compelled
TO pay 81 900, 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.
The Wage Farmers Injured.
The wage earners have been injured by
a gold standard, aud have expressed them
selves upon the subject with great empha-
sis. In February, 1895, a petition asking
for the immediate restoration of the free
and unlimited coinage of gold and silver
at 16 to l vas signed by the representatives
of all, or nearly all, the leading labor or.
CARNATIONS and presented to congress
Wage carners know that while a gold
standard raises the purchasing power OF
the dollar it also makes it more difficult tC
obtain possession of the dollar; they know
that employment is less permanent, los:
of work more probable and unemployment
less certain.
A gold standard encourages the hoard
ing of money, because money Is rising. II
also ~discourages enterprise and paralyze,
industry. On the other hand, the restora
ton of bimetaliism will discourage hoard
ing, because, when prices are steady or ris
ing, MOLE canno afford to lie idle in thu
bank vaults. The farmers and wage earn
ers together constitute considerable ma
iority of the yeople Of the country. VIII,
should their interests be ignored in con
sidering financial legislation? A none
tary system which is pecuniarily advanta
geous to a few syndicates has far less t.
commend it han u system which would
give hope and encouragement to those VIII,
create the nations wealth.
Our opponents have made a special ap
peal to those who hold fire and life insuT
ance policies, but these policy holder
know that since the total premiums re
ceived exceed the total losses paid, a risini
standard must be of more benefit TO tn
companies than to the policy holders.
Much solicitude has been expressed b.
our opponents for the depositors in saw
ings banks. They constantly parade be
fore these depositors the advantages of
gold standard. But these appeals will b
in vain, because savings BAN depositor
know that under a gold standard there
increasing danger that they will lose thei
deposits because Of the inability of tn
banks to collect their assets, II they stiI
further know that, if the gold standard
to continue indefinitely, they may be con
PEELED to withdraw their deposits in orde
to pay living expenses.
It is not Strange That chose who hav
IliAt a DIOAN ny lhAAAl1tAlAAE EplA " III
government in the hour of its extremity
favor a financial policy which will kee
the government do endent upon them.
believe, however, that ! speak the sent
ment of the vast majority Of the people
the United States when / say that a wis
financial policy administered in behalf {
all the people would make our governmeu
independent of any combination of lnaI
ciers, foreign or domestic.
Ii must also be remembered that it
the desire Of people generally to CONVEX
their earnings into real or personal prof.
erty, This being true, in considering an
temporary advantage which may con
/, from a system under which the dollg
rises in its purchasing power, it must NJ
be forgotten that the dollar cannot bu
more than formerly, unless property sci
Tor less than formerly. Hence, it will /
seen that a large por5ion of those VIII
may find some p%ecuniary advantage in
gold standard will discover that the.
losses exceed their gains.
Benehciaries of the Gold Standard.
Let me say a word, now, in 0gard I
: certain persons who are pecuniarIly ben,
flied by a gold standard, and who fave
1t, not from a desire TO trespass upon III
rights OF others, but because the Cifcul
stance which surround them blind then
to the effect of the gold standard upo
: others. 1 shall ask you to consider tn
. language of two gentlemen whose Ion
! public service and high standing in tn
party to which they belong will proteC
them from adverse criticism by our oppC
nents. In 1869 Senator Sherman said;
"The contraction Of the currency is a ia
more distressing operation than senator
suppose. Our own and other nations hay
gone through that operation before, 1t
not possible to take that voyage withou
the sOrest distress, Every person except
capitalist out Of debt, or n salaried Officer
or annuitant, it is a / period of loss, DANCE
lassitude of trade, fall of wages, suspeI
sion of enterprise, bankruptcy and di
aster, 1t meuhs ruin to all dealers who's
debts are twice their business capita
3 though one-third less than their actui
property. 1t means the fall of all agricu
3 tural production without any great r
duction of taxes. What prudent ma
would dare to build a house, a railroad,
factory or q barn with this certain fax