The record-union., 1896-04-26

together was the measure of the value
of all property. If the same countries
had stricken down gold by law and de-
stroyed it for monetary uses and made
silver the sole standard, would not sill
yer have gone up and the purchasing
power of gold gone down?
"Fifth-Mr. Carlisle should have ex-
planned why it was that in every coun-
try where silver was stricken down it
was done by the arbitrary act OF Gov
ernlnent and that neither comm cree
nor business had anything TO do with
it,
'SiXth-It is fundamental law rec
ognized by all gold standard Snan-
ciers except recent converts that when
the volume of money in the word is
reduced the selling price of all prop
erty and commodities goes down cor
respondingly. Therefore the wiping out
by law of nearly half the money of the
world had to reduce the selling price
of commodities proportionately. And
inasmuch as the debts We're not re-
duced as interest was reduced, and as
taxes We're not reduced, does not Mr..
Carlisle think even now just as he did
in 1878, that great crime was com
and against the producing class by
bringing about a condition of affairs
by law which compelled the doctor,
the producer and the laborer to sell
twice as much property or LABOR as
were formerly necessary to ge. the
same amount of money?
'SeVenth-If prices are so reduced
that it takes everything the debtor
II L
charges and everything the laborer can
get together to buy little coarse
clothing and plain food for his family,
can either the debtor or the laborec
spend much money buying other arti-
cles, and if he cannot, then must that
not result in the destruction OF what
we once called our great home mar
ket? If this is destroyed so that cur
great factories and industries are una
bic to dispose of their productions must
they not shut down and throw labor
out of employment? Is not that ex-
actly what has happened in this coun-
try?
.'Eighth-As the laborer prospers
most when there is a large demand for
the articles he creates, does it not nee
esarily follow that until there is q rise
in prices so that the debtor class and
the producing class can again do large
miscellaneous buying there is no hope
for the labOrer?
"Ninth-As there cannot be a general
rise in prices without an increase in
the volume of money, must not the
present paralysis and stagnatior con-
tinue in the world until the volume of
money is again restored to what it
was before silver was stricken down
Tenth-There are in the United
States over 5000 banks, including Ma
tional, State and private. The Comp
troller of the Currency, one of Mr.. Car
isles assistants, received reports from
these banks showing the total amount of
money of every kind that each bank
had on July II, 1895. From this report
il appears that there were in round
numbers only 1927 100000 of gold in all
of the banks of the United States. This
was all of the available gold in this
country. There were about $1,000
600 in the treasury al that time, but this
is not available. Mr. Carlisle did not re-
fer to these figures, which are known to
be accurate. But instead he cited the
figures given out by the Director of the
Mint, also one of his assistants, in which
it is claimed that there are about $780,
100000 of gold in this country Mr.
Carlisle must know that these figures
are incorrect. and that the tables given
cut by the Director OF the Mint on this
point are worthless because it appears
from his report for 1892 that he assumes
that every dollar put in circulation since
1917 in this country is still in circula-
ton, except where a record was made of
its expectation, and that he has made no
allowance for the money that was car
rled over the northern boundary and our
southern boundary for tWenty-fOur
years, nor for the money carried back
by Chinese during that time, nor for
gold coin used in the arts and not re-
ported during that time, nor for all that
was lost, nor for all that was carried
across the ocean in the pockets of our
people during all those years. Yet the
Director says in his reports of 1891 that
during the Paris Exposition the total
sum spent by our people abroad in one
year was over $90,0O0,O00 Why does
Mr.. Carlisle use figures that he knows
are incorrect, and are manifestly given
out only for the purpose of misleading
the American people on the question as
to the amount of money they have in
circulation?
"Eleventh-A year ago Mr.. Cleveland
sent for his former law partner and
close friend, and through him Mr.. Cleve-
land and Mr.. Carlisle made a secret con-
tract with another friend, who was a
former client of Cleveland, by which
that friend and his associate specula
tcrs were enabled to make nine or ten
millions out of the Government in few
weeks on a small bond transaction And
the reason given for this extraordinary
and even criminal procedure was that
the spectators and sharks of Wall
street had agreed to protect the Govern
ment against the gold raids until the
following November. That is, the
Wealthiest, the most enterprising, mos-
powerful, most industrious and thrifty
nation On the globe paid tribute to q
small band of spectators for protec
ton. And when the month of Novem-
Der arrived these spectators withdrew
their protection, and then the Govern
ment proceeded to issue another hun
dred millions of bonds, thus increasing
the burdens of our people. Now, Mr.
Carlisle might have expatiated on this
and pointed out to the American people
the lofty character of the statesman in
volved in these transactions; for
strange to say, many of our intelligent
people are utterly unable to comprehend
it. While Mr. Carlisle does not seem to
have been success in the capacity of
bunco-steerer among the laboring men
of Chicago, there are many points upon
which he could be very interesting, and
! would suggest that they bring him