The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1896-09-25
DEMOCRATIC TICKET
MONEY And PROPERTY.


the thing which everybody wants to
get rid of, you want to vote the Re-
publican ticket, because the Republi-
can party propose to continue the
financial system, the object of which
is to make it more profitable to hoard
money and get the increase in the
the rise of the val ue of a dollar than
to put that dollar to work employing
labor and developing the resources OF
this great country"
The above paragraph from Mr..
Bryan's speech at Richmond last week
goes to the root of the question and
states why money is being drawn
more and more from circulation, and
why capital is not being invested to
develope industries.
As to the first, the withdrawal OF
money from circulation. This has
been going on gradually for some
time. As the gold standard has been
gradually approaching, the capital
lists have found it more profitable to
loan this money at a low rate of inter
est, than to invest in industries, for
while the interest alone was not a
large return, yet that added to the
increased value of the money, caused
by the appreciation of the standard,
made a handsome return.
The object of money is to provide a
convenient medium of exchange. We
value it not for what it is, but fol-
what it will do for us. We can not
eat or wear it, but we use it as a pur.
chasing medium. Compare one hun.
dred dollars to-day as a purchasing
medium of twenty or twenty-five OF
the articles in most common use with
the same hundred dollars as a purchas-
ing medium twelve or fifteen years
ago, and you will find that one hun
dred dollars to-day will purchase near
ly as much as two hundred would
hundred dollars in 1882, and loaned it
at per cent. he now would have his
principal and interest, 1874 dollars and
the 800 dollars he gained by money
breeding" money, making total of
81 dollars realized out of 800, or an
annual profit of nearly twelve per
cent.
Capital will not be invested in en-
terprises which furnish work for the
laboring man, when such profits are
realized without any risks whatever.
When it becomes more profitable to
hoard capital than to invest it in en-
terprises and manufacturing, which
gives employment to labor, then work
will become scarcer each year. What
if the value of the money standard is
growing greater all the time. This
very growth is throwing thousands of
laboring men out of employment, by
keeping capitalists from investing in
business.
Prices have been steadily falling as
the gold standard has been rising.
Capitalists will not take the risk of
investing in any enterprise where the
chances are that the price of the
article to be manufactured will be
worth, when made, less than its price
when the raw material for it was
purchased.
Money should be kept within its
proper sphere. AS a medium OF ex-
change, it is the proper thing, but
when the money standard of a coun-
try gets in such a shape that capital
lists lock up in vaults this medium of
exchange, as a speculation scheme,
then money has ceased to perform its
proper functions, and a change should
be made. This change is what the
Democrats propose to make, and is the
chief point of contention in the cam
paign.
1t requires no great insight into af-
fairs and motives to see why the large
money holders of this country are in
favor of maintaining the present gold
standard. Under this approaching
standard money has gradually become
more scarce and valuable. AS the
standard has risen, the price of the
staple articles, such as land and bread
stuffs mas gradually fallen. The owners
of land are anxious to have the price
rise to where it was fifteen or twenty
years ago. The owners of money and
money securities object to losing any
wealth that has been acquired by
them, even if it required no effort on
their part, and even if it was obtained
at the expense of others.
1t is not difficult to see which side
has a meritorious cause of complaint.
The money holders say that to change
the money standard would simply be
legalized robbery. The farmer says,
you have acquired your increased
value by legalized robbery, and you
should not complain if a readjustment
of the laws in order to restore equili-
bA lbh III LllC yOu W
lose something that you have acquired
without any exertion whatever on
your part.
The CULTS between the value of
money and the value of property,
using that term in its proper sense,
has been widening for Il number of
years. We must either close it up or
bridge it over. The longer the delay
the greater and more difficult the
task. The Democratic party offers
solution for the problem. The Re
publican party offers none. Its
itvowed purpose is to continue the
present demoralizing system of
finance. While Mr.. Bryan is severely
criticised, yet nothing is offered as a
substitute for his plan. While the
Tree coinage of silver will be far from
on the millennium, yet it will
be the starting of an era of prosperity.
The present condition Of affairs was
reached by gradual growth, and
must be reached, if at all,
in the same way.