The Progress. (Shreveport, La.) 1892-1900, 1896-08-27

OolirY hOlueS. oaN lusS UAhNo e'Ho''
tors know that under gold standard
theirs is increasing danger that they
vii, lose their deposits because Of tbs
inability of the banks to collect thelI
assets, and they still further know thai
if the gold standard is to continue IA
definitely they may be compelled &c
withdraw their deposits in order to pay
living expenses.
Gold Means Rain to Merchants
1T is only necessary to note the IN
crpaSiDg number Of failures in Ord5N
to know that a gold standard is ruin,
Gus to merchants and manufacturers
If tie people cannot buy. retailers can
not sell. and, if the retailers cannot
sell, wholesale merchants and manu-,
facturers must go into bankruptcy,
Those who hold, as permanent in.
vestment, the stock Of railroads and OF
other enterprises, are Injured by gold
standard. The rising dollar destroys
the earning power OF those enterprises
without reducing their liabilities and,
as dividends cannot be paid until sal.
aries and fixed charges have been sat.
isfed, the stockholders must bear ths
burden of hard times.
| Salaries in business occupations de.
| pend upon business conditions, and tbs
| gold standard both lessons the amount
and threatens the permanenCy OF such
salaries.
! Its Effect Upon All Glasses
| 'I have not attempted to describe ths,
effect OF the gold standard upon all
| classes-in fact, | have only had time
| to mention few-but each person
will be able to apply the principles ac'
cordinS to his own occupation. II
must not be forgotten that the dollar
cannot buy more than formerly unless
property sells for less than formerly
Hence, it will be seen that a large por.
ton of those who may find some pc.
cuniary advantage in a gold standard
will discover that their losses exceed
their gains.
BRYAN Attacks the "GOld Bugs"
"In 1869 Senator Sherman said: THE
contraction Of the currency IS a fal
more distressing operation than sena.
tors suppose To every person, except
a capitalist out of debt or salaried
officer or annuit2nt, it is period Of
loss, danger, lassitude of trade, fall Of
wages, suspension of enterprise, bank
ruptcy and disaster. 1t means ruin t
all dealers whose debts are twice THEFT
business capital, though one-third les:
than their actual property. 1t meani
the fall Of all agricultural production
without any great reduction of taxes.
Mr.. Sherman was at that time speak
ing of the contraction Of the volum'
of paper currency, but the principle
which ne set forth applies if there II
a contraction of the volume Of tn
! standard money Of the world.
''Mr. Blaine discussed the same prin
ciple in connection with the demone
tization Of silver. Speaking in tn
! house of representatives on Feb.
1878, he said Y believe the struggl
now going on in this country and othe
countries for a single gold standar
. would, if successful, produce wide
spread disaster in and throughout tn
commercial world. The destruction Q
silver as money and the establishin
Of gold as the sole unit of value mus
: have ruinous effect upon all form
Of property, except those investe
which yield fixed return in money
Is it strange that the holders of invest
ments which yield a fixed return i
money can regard the destruction
silver with complacency? II the rels
" lively few whose wealth consists large
J, " in fixed investments have a right
q use the ballot to enhance the value
u their investments, have rot the rest
l. the people the right to use the ballt
to protect themselves from the disa:
:, trous consequences of rising stant
u ard? What shall it profit us to have
dollar which grows more valuab
D. D every day if such dollar lowers tt
- standard of civilization and brings di
tress to the people? 4 it is asserte
as it constantly is asserted, that tt
gold standard will enable US to borro
u more money from abroad, reply tn
70 the restoration OF bmetallism will r
70 store that parity between money al
property, and thus permit an era
D. prosperity which will enable the Ame
~ lean people to become loaners Of mon'
~ instead of perpetual borrowers.
- Must Stop Borrowing.
IA Even if we desire to borrow, no
~ long can we continue borrowing und
system which, by lowering the val
e, OF property, weakens the foundati'
to unon which credit rests? Even t
az holders Of fixed investments, thou'
u. they gain an advantage from the a
H. probation of the dollar, certainly S
to the injustice Of the legislation viii
70. gives them this advantage over tho
re- whose incomes depend upon the val
of property and products.
od IF the holders Of fixed investmer
,,0 will not listen to arguments based u