New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-08-19

values between gold and silver and a
money unit OF more just measure and
more stable purchasing power.
Thegold papers are making much OF Mr..
Reeds oracular deliyerance the other day
to the effect that ''what this country needs
is not more money, but more capital
Many repeaters of this sage recipe show
that they haven't the slightest idea what
it means, but it sounds we'll, and, more
over, it IS authoritative, and relieves
| them from the burden of thinking. So
they keep repeating it. The political e.
economists mostly agree that capital is
wealth engaged in production; and in
this sense every bimetallist will indorse
Mr.. Reed. But it is precisely its indis
position to be engaged in productive en-
terprise that subjects the gold money
unit to the severest criticism. When
money grows automatically, when prices
are falling, men prefer to avoid the risks
of business. They will not borrow mon
ey whose repayment means finding more
commodities to procure it with than it
will procure for them at the time of
borrowing it. Men who have gold pre-
fer to put it into government bonds or
other giltedged securities than to embark
it in enterprise. When money grows
faster in strong box than it does in in
dustry the system is wrong. When mon
ely is worth more than things it is too
valuable. Mr.. Reed will see more cap
ital in this country when he sees a check
On the appreciation of gold and rise in
prices. Under present conditions his
specific is as vain as the famous Fl.nni-
gan's who proposed to substitute in place
of a demand for more money in polit-
cal platform declaration for ali increase
of collateral.
Bimetallists cannot too strongly warn
the people to he on their guard against
the devices OF the gold standard supper
tiers. The campaign just commencing
will witness a greater expenditure of
money by those interested in securing
the success of the gold platform than has
ever been spent in acampaign. Although
the money-lenders have succeeded in i'm
posing their system upon the countries
they have never yet had to face the test
of a popular vote. They have controlled
cabinets, administrations and legislatures;
but they are now fighting for the in
dorsement of the greatest electorate in
the world. A verdict IN their favor by
the people OF the United States would be
worth billions of dollars to them. They
will spend millions upon millions to OBJ
tain it. The gold power of the whole
world is heh1nd the movement. The a.
mount of money they can command for
for both legitimate and illegitimate pur-
poses is simply unlimited. Newspapers
and news agencies, speakers, ''tine work
ers," all will be under pay. Sentiment
will be misrepresented news will be
manufactured, suppressed or distorted;
character will be mallgned, and motives
impungcd; no bounds can be set to what
will be done by the most powerful, the
most compact, the most relentless, the
most selfish and the most resourceful and
insidious interest that ever struggled for
its own ACKNOWLEDGMENT. 1t is the great
est political contest of the worlds histo-
ry thus far. Let the people realize this
and strive earnestly to see their duty,
and as fearlessly to do it.