People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-07-02
Continued from fifth page.

ueIIS anu uILlIIHg IHdCAIueryi anu IN
use Of compressed air in connection wit
TEEN; scales and elevator machinery, gan.
AID circular saws and sawmill mschiner.
generally, about the only new departur
dating from since that time being the us,
Of The band saw on large scale; turnini
machinery, particularly Blanchard's spok
lathe fGr turning Irregular forms; genera
wo9dWnIking machinery for planning mill.
aud furniture factories, washing machines
ahc knitting machines the principal kinds
Of bOot and sAOe machinery, especially the
Mckay Swing machine, which, between
1861, when it was perfected, and 1876, had
made A2A 100000 pairs Of shoes in the
United States alone; the Westinghouse air
bake md its various adaptations, electro
plaing, TYPOGRAPHY and phColithography,
optical instruments, musical instruments,
ice MACHINES. the growth Of india rubber
manufacture, the Goodyear yuIcsnizing
process, dating from B44; machinery used
in sug@ refining and In paper, porcelain
and glass manufacture, stereotyping and
electrUtypiDs processes, Bruce's and other
type oAting' machines, folding and ad-
dressing machines, the Gordon job press
and the Adams, Campbell Walter, Bull
lock and Hoe perfecting printing presses.
In this connection remember that there
is no branch Of industry where production
has cbespened in any degree approaching
that Of the mining Of gold IN recent years.
But Cbeapened gold mining does not seem
to have cheapened gold compared with
other commodities to any alarming extent.
Effects of Changing Standard.
The method of operation and the effeo.
of a changing money standard are not suf
fciently understood. Any convenient me-
dunn Of exchange to which prices had once
accommodated themselves would discharge
sufficiently well the mere function Of a
medium of exchange. But, when viewed
as MEASURE of the values of all other
things- it Is of the very greatest impor-
lance that the money unit remain as near
" usSEyiDg as possiblein value over long
periods Of time When man loans an
other sum of money, be loans a certain
quantity Of purchasing power, for that Is
what money IS. Now, absolute Justice
would require that when the loan is repaid
it should stand for the same purchasing
power as before But If, meantime,
money has depTeciated-that Is, if prices
have risD-tbe same nominal sum when
rFSd hos less purchasing power than
when borrowed, and the lender CT creditor
ready receives less than he loaned, the Dor
SOx6f or debtor profting by the difference
On the other hand, if money rises in pur-
sbaang power between the making of the
lean sDd the repayment, 50 that the Dor
pET has 20 find more commodities with
which to,bnJ the money W pay back than
tie money would buy for him when be
kcroEed II, then he loses the difference
AM tire money lender makes It
0v, IN either case the changing stand
AID takes something nom one man with
OUT his deserving 30 lose 1t and gives it to
another who has DO hight 10 ID In either
case 1t Is silent robbery. The ideal
tRndnnt Wunh preserve the rights of both
debtors and Ssdicors. But deliberate
choice bad 70 be madebetween gradually
falling and o gradually rising standard
all wfitArs OF authority agree, and it is
cOnsonaus with common sense that moral
ly, eOOnnGAnlly, politically and socially
the falling standard would be preferable.
Its iney1RhIe b.ses fall on the creditor,
the lender, who can better than the debtor
endure ia effects, and il encourages en-
terprise while the certain harfships OF the
rising standard fall on the borrower, the
debtor the investor, the captain II indus
try, who cannot 50 well sustain the bur
den, who has no surplus but Is most fire.
quently wiped from the face Of the indus
trial world by the vanishing Of the margin
between his property and the satGmatic-
ally enlaHging lien upon it.
In the latter case the absolutely IN
avoidabh result must be, II the evil Is
permitted to run, that all property will
eventually belong to those who shall con-
troll the ultimate money Of the world, and
thrift and enterprise, If enterprise and
thrift can belong to race Of slaves, would
plan and save and toll to further fatten the
overfed fairness OF their masters This Is
no exaggeration d language 1t Is the
speech OF truth and soberneeS Said Sir
Arthur James Bafour, the real head Of
the present Conservative government Of
England. an earnest bimetallist and one
OF the prOfcundest thinkers In Europe In a
speech at Manchester Oct q, 1899:
But OF all conceivable systems Of cur.
rsncy that system Is assuredly the worst
which gives you standard steadily, CON-
tinuously, indefinitely approaching, and
which by that very fact throws a burden
upon every man Of enterprise, upon every
man who desires to promote the agricul-
tural or the Industrial resources Of the
country and benefits no human being
whatever but the owner Of fixed debts In
gold"
Falling prices Of agricultural products
deprive the farmer Of the means Of buyinr
his usual oonveniences and necessities. and
these accumulate on the hands Of the man
ufacturer and retailer, who In turn curtail
expenses to the uttermost, disoharpipe Ia
Dor, which then loses its power to con-
sumo, and limiting their own CONSUMPTION
TO the barest needs. Thus farmer. mann
Tacturer, tradesman, transporter, iaborer,
all lose patronage and employment, while
taxes, interest and principal Of mortgages
fixed charges, bonded Indebtedness and
rents are constantly and remorselesslv
measuring of increasing equivalenoes in
all human products Under such circum.
stances there Is no inducement to enter.
prise or TO investment in producing indus.
tries. No man wants to borrow money to
use in a business in which the fall Of prices
is sure to eat up his profits On the 9th
er hand, the man with money for the same
reason does not want to put it into busi.
btess, but prefers either 10 Invest 1t in gilt
sdsssacaritse; q rrlr lie de and grow.
This eotistss the money IN the large 1inan-
cial centas snd emphasizes the absolute