Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-08-29
Payment of Debts in DECEASED Cur
rency Means Practically
Reputation.
ANEPRASKA FARMER ANSWERED
FalIacy of What is Considered the
Strongest Free Trade
Argument.

The following letter is one. of many
that are daily received by the Times
Herald. 1t is supposed to contain the
strongest free silver argument that can
be addressed to the farmer, and it is
used by the free silver orators with i'm
mense assurance of its success:
Lincoln, Neb.. Aug. 3.-To the Editor:
Ny land is encountered by a mortgage Of
5000 uIP pay this mo deB wts fse
products Of my farm: Under ordinary ,esi5E5,
e atm BE yea t. 1ars IS
change in our financial system this wheat
IS reduced to so cents by free coinage a
its 9' value. viii be worth 5o-cent dollar.
With free coinage of silver / shall, there
5e bnEe IS p pay wheat The buPem
paying a debt of $1,000 has doubled since
laws Of my country under the gold standard
and shall obey them under silver standard
appealing to the laborers. the creditors and
policy holders to protect their fnil oWn pei pet
for my y own own Interests who viii do 50 for
me? Is there any reason Why ! should not ct
silver? Very respectfully. j. w. Binger.
The answer is not far to seek.
When this farmer borrowed the money
it was the equivalent of $1,000 in gold.
1t was the same if he had received it
all in gold $50 pieces He could have
haps he did, for many such loans have
been made. When he expended it he got
$1,000 in gold equivalent He probably
improved his farm to that extent or
bought stock or machinery. In whatever
way he used it, unless he burned it up or
souandered it, he got value received
ness transaction and the borrower used
the money to promote his business in
terests-
At no time since that mortgage was
executed, for few mortgages run over
FIVE years without renewal, would a
thousand bushels of wheat have paid it.
Suppose we had borrowed the money
from a neighboring farmer more pros
porous than he. That neighbor would
probably have to carry something like
two thousand bushels of wheat to town,
sell it for a thousand dollars, get the
money and hand it over to his
past thousands of such transac-
lions In fact, in every farming
community there are a few farmers,
more thrifty and of better business quail
ifications than the others, who always
have money to lend out of their savings.
They get the money from the products
of their farms, but they are not loaning
money rnone and since 1879 it has been gold
or its equivalent Why should they
not have the same kind of money in re-
payment?
Is If any wonder that the advocates of
unlimited free coinage are charged with
dishonesty and that silver is called dis
honest money, when by the passage of
a law a thousand 5O-cent dollars will be
sufficient to discharge a debt of a thou
sand 1OO-cent dollars? Such a law
amounts to the Reputation of one-haf
the debt obligations of all the debtors in
the United States.
When Mr. Binger in the above letter
saws. 1.-The burden of paving a debt of
$1,000 has doubled since l borrowed the
money" he must remember, if he is stat
80 uba+ Is true that the "burden'' is NOT
alone upon him, but upon every other
business man who has borrowed money.
Merchants and manufacturers feel the
same stress of the hard times as the
farmers do. 1t is not because they Dor
rowed gold and have to repay gold that
the burden is greater, but that their
earnings and assets have not turned out
as they hoped and expected. Competi-
ton and overproduction have affected
the whole world: but reputation is not
the proper cure for it,
Honesty is the best policy-as a policy
merely, without reference to its moral
quality-for nations as well as for indi-