The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-08-22

ing the purchasing power Of the dol
lar to be determined by the num-
Der Of dollars. Bfnetallism Is better
than recommendation. not because It gives as a
perfect dollar-that is a dollar absolutely I'm,
varying in its general purchasing power-.bu
because it makes q nearer approach to st1bil-
ity, to honesty, to justice, than a gold
standard possibly can. Prior to 1873, when
there were enough open mints to permit all
the gold and silver available for coinage to
find entrance into the worlds volume OF
standard msney, the United States might
have maintained a gold standard with less in
jury to the people Of this country; but now,
when each step toward a universal gold stand
ard enhances the purchasing power OF gold.
depreSSes prices and transfers TO the pockets
of the creditor class an unearned increment
the influence Of this great nation must be
thrown upon the side Of gold unless We arc
prepared to accept the natural and ille2itimate
consequences of such an act. Any legislation
which lessons the worlds stock OF standard
money increases the exchanSeabIe value OF
the dollar: therefore, the crusade against sill
yer must inevitably raise the purchasing
power Of money and lower the money value OF
all other forms Of property.
Our opponents sometimes admit that 1t was
q mis- take to demonetize silver, but insist that
We sho-ld submit to present conditions rather
than to return to the blmetallic system. They
err in supposing that We have reached the end
OF the evil results Of a gold Standard; we have
not reached the end. The injury is a %continu-
ing one, and no person can say how long the
world is TO suffer from the attempt to make
gold the only standard money. Tn same in
fiuences which are now operating to destroy
silver in the United States will. il
successful here, be turned against
other silver-usine countries, and each
new convert to the gold standard will
add to the general distress. So long as the
scramble for gold continues prices must fail
and 4 general fall in prices s but another def
milton of hard times. Our opponents, while
claiming entire disiaterestedues for them
selves, have appealed to the selhshness of
nearly every class Of society. Recognizing the
disposition OF the individual voter 20 consider
the effect Of any proposed legislation upon
himself, we present to the American people
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 stand
ard because they have felt its effects. Since
they sell at wholesale and buy at retail, they
have lost more than they have gained by fall.
ing prices. and besides this, they have found
that certain fixed charges have not fallen al
all. Taxes . have not been perceptibly de-
creased, although it requires more of farm
products now than formerly to secure the
money with which to pay taxes. Debts have
" III II "a IL i've 81 sptO 4 sun
compelled to pay $1,000, although it may be
twice as difficult as formerly to obtain the dol
lars 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 it
more and more difficult to live. Has he not 4
just cause for complaint against the gold
$ tandard?
The wage earners have been injured by a
gold standard, and have expressed themselves
upon the subject with emphasis. In February,
1898, n petition asking for tho immediate res
toration OF the free and unlimited coinage OF
gold and silver at l6 to | was signed by the rep
resentativeS Of all or nearly all OF the leading
labor organizations and presented To congress.
Wage earners know that while 4 gold standard
raises the purchasing power OF the dollar, it
..I.v makes it more diticult to obtain pos
.l-Siou OF the dollar; they know that
employment is less permanent. loss % work
more probable ana re-employmentle less certain.
A gold standard encourages the boarding of
money because money is rising; 1t also dis
enterprise and paralyzes industry. on
the other hand, the restoration OF bimetaliiSm
will discourage boarding, because, when prices
are steady or rising, money cannot afford to lie
idle in the bank vaults. The farmers and
wage earnerS together constitute L considera- !
bic majority OF the people of the country.
Why should their interests be ignored in con-
financial legislation? a monetary
system which is pecuniarIly advantageous to a
yndicateS has far less to commend it than
q system which would give hope and encOur-
agement to those who create the nations
wealth.
Mr. Bryan devoted much attention to
the subject of international bimetal-
ism, and when he concluded, after
speaking an hour and 40 minutes,
vas another but briefer demon
stration.
Mr.. Sewall was then introduced by
Gov. Stone in tones that were inaudi-
bic and delivered a brief speech un,
indorsing the Chicago
platform.