The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-06-19
THE SEMI WEEKLY OHIO DEMOCRAT FRIDAY JUNE 49, 1896

continue thUlr war OH Bilvor. Tho oouhtr.
was flooded with notes for you to sign
payable In gold, and whom the law thu
conferred the option on tho creditor ns :,
which metal no would demand nnothe
law in binotalllsm was violated. Wher
before 1873 tho debtor having the option
gavo It to tho weaker metal, and thu
maintained tho commercial parity, th,
Bland Allison not gave tho option TO tn,
creditor, who would always demand tn,
dearcr metal, and tho donrer It becam,
the moro apt ho would DO to demand It.
Instead of the government debating what
was money, by this act tho creditor wa:
allowed to dictate, and since then the
money lenders have bound this country
and Its people up in billions Of dollars
worth OF bonds, notes and mortgages pay
ablo in gold. The debtor, ns a rule, has
no option when he goes to sigr note fol-
borrowed money. At such time money
is such necessity to him that ho is putty
in the hands of tho money lender.
Nor does he, as rule, know that no Is
assisting In piling tho demand on gold and
further increasing It's value. He is hopeful
and expects the tomorrow to tako care OF
itsolf. When he goes to pay the debt, he
finds that dollars havo risen and that
DElCcb IuNb anu lllhu uO uuS w BlNc
up more OF his property than ever In OK
change for gold or Its equivalent.
Improved Facilities.
They say improved facilities and not de-
monetlzntIon is responsible for low prices:
Tho answer to that is this: From 1850
to 1873 was q period of great improvement
on inventions and improved facilities,
greater by far than for the samo period
either before or since, and yot In the face OF
improved facilities prices advanced. II i'm.
proved facilities have lowered priceS since
1873, why did they not do 1t before 1872
Cost OF production Is not what makes
prices.
The Quantity of Money.
They say we have as much money now
por capita as in 1878. The answer is this:
1t is true wo have In gold and all forms of
credit money as much per capita as we had
in 1873. But ovor two-thlrds OF this money
is credit money and less than ono third Is
gold or primary money. 1t is therefore top
heavy. 1t shakes confidence in 1t all. Pri-
mary money fixes tho sea level of prices
and will support only an equal quantity
of credit money. Any greater issue of
credit money does not help tho situation,
but, on the contrary, II Ia harmful. Wo
have less than one-half as much primary
money now rs we had per capita In 1879. We
have only half as much sound money now
as in 1878. When you consider the money
boarded up In bank vaults not to go again
In circulation, except In tho form of loans,
which Is hurtful, there Is not to exceed $5
per capita In circulation today I'm the
United States. 1t Is not money to loan
that gives healthy tone to business. 1t Is
money seeking ACKNOWLEDGEMENTS
that benefits trnde.
Tho Greepbsoha.
And now these blupdcrcrs who have do.
stroyed tho basis OF our monetary system
want 10 retro tho areenbnoks. RetirinU
tho proupbsoks will not stop run ON tho
trensury. All of our money is based nm
gold, and gold for export will continue TO
pay the enormous gold interest wo owe on
our forelRn debts. II the government
transfers the demand for gold TO tho mn. |
tional bnnks. tho run will be thero instcad
of at the treasury. TO shift the struggle on
false lines Ia to invite slaughter In tho end
II IA morc urinary money wo want To
retire the Qreepbacks and turn us further
over to tho national bnnkers is TO nut ms
more securely In the hands of tho money |
power TINT Is responsible for tho ills we |
have.
Cost OF Producing Silver.
They say It costs less to produce silver
now than formerly, and that makes 1t
cheaper. When man makes that state
ment to you, put this question to him:
Does 1t not also cost equally less to produce
gold?
Wages and Wage Farmers.
They say wagcs have not declined.
Store clerks i'm the CITY of Chicago in
1873 Rot sic week, about an average of
that. They arc now getting ON an average
about s6 a week.
Unorganizcd labor has fallen proportion-
ntely. it is only organized labor that has
held up prices, and 1t has done that I'm two
Is that organized labor Is among
,ho first class mechanics whore experts are
.eouired. and tho supply OF thnt kind of
yorkmon Is limited. But organized labor
holds itself up by reason of it's unions
They are Intelligent. They stand tooether
rs brotherhood of men fighting I'm n com.
non cause, and yet In spite of their organ.
ization labor has had wages partinllv re-.
luced. The best answer / have heard 10
hnt was by an Irishman In Chicago rc.
,ently. A gold standard man was exn,.
iatinp on the purchnsipg no,vor NJ onId
md saving that wapos had NOT deoIiped
VI, frlsbmon. ,,tey I,stcn,ne 70 h,r,
W b,,e said. uMIstor In 1874 ,vas n soo.
ON bnnd an tbe railroad md 7 got 40 no
day had i,,t,, oo,tnnn 80 81 t".oo
n, bore In tho snhurhs whore Noro onS
1o i,obi.s wern hnouy ana 7 snvsd sS
.oek ont Of INV rnGcs over n living ord
mid IL ON our home Now nm n.tt,na
! cents n day ns n section hand on the
,mo road. II you will toll me how can
,yo so a ,rooL on OK oon,a = do,, ~, ~ ~