Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1896-06-18
SOUND SENSE FROM A SILvERITE.
Oongressman Towne's Admission That .
Policy Which Injuries Capital win Strike
Down Labor,

Down Labor.
Representative Towne Of Minnesota
Is an ardent advocate of free silver who
argues plausibly from IL basis Of facts
which exist only in his imagination.
But while he is mistaken in his theories
as to the need of cheap money, he is en-
tircly correct in his statement of the
mutual dependence of all classes on the
maintenance of stable monetary
standard. That he believes in a free
coinage law which would put this
country ON u fuctuating silver basis
does not lessen the importance of his
assertion that: '"Thc laboring mans
interests are precisely the same as the
manufacturer S, the tradcsman's and the
farmers and the policy that is sure
to wreck all employers III productive
industry if continued cannot fail to
ruin also the men who work for them.
Profits cannot disappear and leave
wages untouched. When men that hire
labor become bankrupt, the man who
works is very apt to be out of a job "
Truth, golden truth. Yet it comes
from u man who is doing his best to
strike blow at manufacturers, mcr-
chants and other employers Of labor
which would throw trade and industry
into hopeless confusion, and bring ruin
and bankruptcy to the business interests
of the country. What is the chief aim
and object of the silveritc agitators? 1t
is to attack capital and capitalists by
making it possible for the man y. no has
borrowed money to pay his debts with
dollars worth but one half Of those that
were loaned w him. The free coinage
and POpulist papers and the speeches Of
the 1G to | senators and representatives.
are filled with dcnunciations of the
wicked capitalists and bankers who arc
said to be robbing the people, and who
will find the value Of their money cut
in two under free silver. Reputation
Of debts and confiscation of the property
Of creditors are openly preached by the
prophets of the cheap money gospel.
Suppose that the United States should
adopt free coinage, what would be the
effect on the capitalists whose money is
absolutely necessary to carry on tho
great manufacturing and other produc-
tive industries of the country? 1t is GER
tain that long before II rs to | law
could 10 put on tho statute book tho
| fact that u prcsidrnt and congress favor
| able to its enactment had been elected
wo,Ad cause the calling in Of hundreds
Of millions OF dollars Timid creditors
would insist ON getting back their
money, and no now loans would be
| forthcoming. No sensible man would
invest in any enterprise if he knew that
| he might get back only onc-half of his
capital. Banks would refuse to aid the
| hundreds of thousands Of business men
| now dependent ON them, and the mills
and factories would he shut down. The
| millions of mon forced into idlCnCSS by
| the closed industries could not buy tho
farmers products Business stagnation
and Widespread poverty and depression
| would inevitably be the results of u law
which made doubtful the ownership or
security of capital.
American workingmcn who have been
dcludrd Ivy the Slvrritc and socialist
cutlery against capital should remember
that "whrn mcn who hire labor become
| bankrupt the man who works is very
apt to be out of u job " And the Amer
| lean farmers would do we'll to bear i'll
mind that II man permanently out of a
| job cannot buy the things they have To
| sell