Hopkinsville Kentuckian. [volume] (Hopkinsville, Ky.) 1889-1918, 1896-08-18

which 4sssens the worlds stock OF stand
ard money increases the exchangeable
against silver mast inevitably raise the
| Purchasing power OF money and lower the
money value OF all other forms OF prop
Our opponents sometimes admit thatit
| was nIfstake to demonetize silver. but
insist that we should submit to present cen
/ dftions rather than return to the bimetalllc
have reached the end OF the evil results
the end The injury Is e q CONTINUING ess
| and no person can say how long the woF&
Is to suffer from the attempt to make sold
| offences which are nov ,operatlns to de.
stroy silver In the United States will, it
successful here, be turned against other
| silver using countries, and each new con-
vert to the gold standard will add to the
| general distress SO long as the scramble
general fall in prices is but another defini-
| ton of hard times.
| our opponents. while claiming entire dis
pealed n Of ar nSye every cry
f t,a e. ssoeIsty ne dis3csi
eject Of far any prSrcsod isfss ~ ps
self. we present TO the Ef9eticanpeeplet the
| financial policy outlined ~, the Chicago
| greatest good to the greatest number
WIZ Farmers oppose Gold Standard.
:. The farmers are opposed TO the gold
STANDARD because they have felt its effects.
l.
TAIL they have lost more than they have
gained by falling prices, and. besides this.
have not failen at all Taxes have not
been perceptibly decreased. although II
requires more of farm products now than
to pay taxes. Debtsln not fallen The
farmer who owed 81 900 is stiu cornPelleda
8 90 ashSSs 6b %S ss SSs e
with which to pay the debt Railroad
rates haye not been reduced to keep pace
Items, there are many more The farmer
has thus found IL moro and more difficult
20 i've; rias ne not a just complaint against
81 Bad for tho Wage Garner.
The wage-earners have beer injured bya
gold standard and have expressed them
selves upon the subject with great en-
phasis. In February, 1895, q petition ask
ing for the immediate restoration of the
free and unlimited coinage of gold and sill
rsp % Of Of Se or Ma hearty Of the
leading labor organizations and presented
TO- congress; Wage-earners. Know that
ing power Of the dollar, 1t also makes 1T
more difficult to obtain possession of the
dollar; they know that employment IS less
and unemployment less certain.
A gold standard encourages the boarding
discourages enterprise and paralyzes in
duStry. On the other hand the restoration
Of bimetallism 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 to-
of the people of the country. Why should
their interests be ignored in considering
financial legislation? A monetary system
which is pecuniarily advantageous to few
syndicates has far less to commend 1t than
a system which. would give hope and en-
TONS wealth.
Ruinous to Merchants and Manufacturers.
Mr.. Bryan said it was only necessary to
note the Increasing number OF failures in
order TO show hat q sold standard is ruin
aries in business occupations, he said, de-
pend upon business conditions and the
gold standard both lessons the amount
and threatens permanency Of such sal
aries ~ MF
1 n Ii ~ Dangerous for Others.
Our opponents have mace special APP
peal to those who hold fire and life insur-
ance policies, but these policy holders
know that, since the total premiums received
exceedthe totallosses paid, arising standard
must be of more benefit to the companies
than to the policy holders.
Much solicitude has been expressed by
our opponents for the depositors N savings
these depositors the advantages of gold
standard, but these appeals will be In vt ~,
because savings bank depositors know tdat
under gold standard there is increasing
danger that they will lose their deposits be-
cause of the inability Of the banks to collect
that, If the gold standard is to continue In
definitely, they may be compelled to with
draw their deposits In order to pay living
Those who hold, as permanent invest
ment, the stock of railroads or other en-
terpriseS--l do not include those who spec
ulate in stocks or use stock holdings as a
means of obtaining an inside advantage in
gold standard The rising dollar destroys
the earning power of these enterprises
without reducing their liabilities, and, as
dividends cannot be paid until salaries and
fixed charges have been satisfied, fAe
stockholders must bear the burden of ha<i
times. . 49, Y
The professional classes-in the maiu-
receive their support from the producing
classes, and can only enjoy prosperity when
ere is prosperity among those who Gre
Mr.. Bryan said that the assertion of the
opposition that bank belongs to the
debtor class is not true of any solvent
bank. Every statement published by a
solvent bank shows that the assets 'ex-
a dollar is rising in value slowly a bank
may, by making short-time loans and TAX
ing good security, avoid loss; but, when
to lose more because of bad debts than it
can gain by the increase in the purchasing
power of it's capital and surplus.
Beneticiaries of a Gold Standard.
Passing briefly over this point, Mr.. Bryan
to certain persons who are peculiarly BEN
Gifted by gold standard and who favor IL.
no5 sro oq h desire to trespass upon the
stances which surround them blind them
to. the effect Of the gold standard upon
Others I shall ask you TO consider the
language of two gentlemen whose long
public service and high standing in the
party to which they belong wifi protect
them from adverse criticism by our op-
ponents. in 1869 Senator Sherman said:
1t must be admitted. however, that sorna
bankers combine the business of bond
broker with the ordinary banking businessl
and these maymake enough in the negotfa-
ton of1loans to Offset the losses arising IN
legitimate banking business AS long as
human nature remains as II is, there Will
always be danger that, unless restrained
by the public opinion or legal enactment,
those who see pecuniary profit for them
selves in certain condition may Weld to-
the temptation to bring about that condi-
ton. Jefferson has stated that one of the
main duties OF government Is to prevent
men from injuring one another and never
was that duty more important than 1t is
to-day. It is not strange that those who
have made profit by furnishing gold to
the government In the hour OF its extremi-
ty favor financial policy which will keep
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