Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-09-17

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There is money enough in the country.
1t is too bad that it is not more evenly
distributed.
When we talk of $2400 or SIG 90
per capita, a great many people say it
is insufficient. If it WIS $40 or $50 per
head everybody would be better off.
How large portion of the population
think you, would come in for the in
crease?
The bulk of it would go to the very
people who have the bulk of the money
and property to-day.
Just SO with increase of currency
from the free and unlimited coinage of
silver.
The need of the hour is not an expan-
sion of the currency, but ways, means
and methods 10 turn some of the money
already in circulation into the pockets
of the people.
Are we not right?
We have been swelling the per capita
from year to year, but it takes great
deal more than per capita to insure
prosperity.
The trouble with our opponents is
that they confound and confuse the
contraction of currency with cOntrac-
ton of credit. The business of this
country, over 90 per cent. of it, is trans
acted on credit, with less than eight per
cent. represented by the actual cash.
Hence it follows that when credit is
impaired. as has been the case during
the pasJ two years, financial contraction
and depression are inevitable.
The threat of the injection into our
currency of a mass of 5O-cent dollars had
much to do with this dismay.
1t is Il constant menace to the public
credit, and fruitful cause of debauched
finances and interrupted traffic.
But suppose we get free coinage, what
effect will it have on the circulation?
We shall not stop to tell you of its
effect in driving $67S,OOO,OOO of gold
to premium, and out of circulation, rs
well as the retirement of $375,OOO,COO
of greenbacks and treasury notes.
How much would free coinage of the
white metal add to the circulation? Not
10 exceed $12,OOO,OOO.
Who would get it? The people? Tell
me how they would get it.
The 1nillionaires would get it, who
would then be able to demand one dol
lar of Uncle Sam for so cents just as
long as their bullion lasted, and their
mines held out.
Per capita deductions drawn from
other countries are misleading.
1t is impossible to tell what the per
capita circulation of England, France,
or Germany is, for the reason that these
countries use metallic circulation, and
the use of checks and bank notes is
unknown. asss@
The Argentine Republic has a per
capita circulation of over 500, but that
country is suffering from financial Jim
jams" CT the most distressing descrip-
ton.
Behind the large per capita argument
is the iond fancy that by some financial
jugglery, which has never been ex-
planned, the people will get more money
without being bothered to furnish an
equivalent.
Back of it all turks the pet theory of
the financial romancers that the govern
ment can create money anyway-and
there is no reason why it should re-
fuse to hand over to the people ad libi-
tum.
If the government can create money
by its stamp, by its stand up and say
so, why levy any taxes? Why raise
money from the people to run the gov
eminent.
If the United States government can
say that so cents worth of silver shall
be dollar, why waste so cents worth
of the white metal? Why not let it go
at 10 cents worth?
Why put any silver in?
Why not fiat piece of paper?
Why not abolish taxation altogether?
Why not support the government
why not support the people by money
manufactured by the best government
fazz1e dazzle amy and all efforts in That
direction this grim and gray old world
has ever seen?
The currency of the United States in
1895 amounted to $26 and fraction per
capita. But the banking facilities of
the United States far exceed those of
any other country, and the use of checks
and drafts is more common with us than
any other nation.
The truth is, a contraction of credit
is far more fruitful source of danger
than a contraction of currency. When
you strange that, no matter how large
your per capita may be, the curtain is
rung down on prosperity.
That, in my humble judgment, is the
secret Of the situation that confronts
this nation to-day.
Shall we shut our eyes to history and
stop our ears TO experience?
Shall we ignore danger signals en-
tirely?
Shall we say: 1--WE are law unto
ourselvcs?"
If England, France and Germany
should stop the use of wheat or pork,
would their action effect the prices of
grain or pork?
Would you recognize the changed con-
ditions, or would you resolutely re-
fuse to submit to foreign domination?
Mr.. Bryan says that he is opposed to
the dictation of Great Britain lie