Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-09-24

the export of gold. and at last &C.
counts Lombard street was still shiv.
ering.
And why all these hot and cold fits?
The New York papers have charged
the trouble to every imaginable cause,
most of all to the agitation" But
every Populist knows the true reason.
There is not gold enough in the world
to serve as basis for the worlds BUSH
ness, and production, trade and popu-
lation are increasing three or four
times as fast as the coin supply; neces-
+ ST ly, therefore, the struggle for the
lit. jag of gold is daily growing more
I desperate. England sells our stock
down, or demands interest in coin on
what we owe her, and few millions
in gold go; deadly chill seizes Wall
street and down go prices of grain and
cotton. We force an increased export
and pull little of the gold back; a
shiver goes through Lombard street
and down go American stocks in Lon
don. Sales are forced here, sterling
exchange rises, rates of interest "stif-
FEM" the banks call in loans, forced
bankruptcies follow and then we get
ready to do it all over again. But OBJ
serve where the prices of grain and
cotton are forced down it takes great
deal more of them to pay interest on
what we owe abroad-so much more
that we fail to make it-and then more
gold must go. Just now the syndicate
is holding back gold by mortgaging
the crops in advance of n aturity for
sterling bills, but latter the election"
settlement must come and with it
grand collapse.
And what about that S2,OOO,0 900 of
gold imported? Well, nobody now seri-
ously denies that the import was a
trick, but it is uncertain just what kind
of trick. One opinion is that the syn
dictate did it as an experiment to see
what effect it would have on the public
mind. Another that it was stock job
bling device and that the tricksters un-
loaded during the short lived boom.
Nobody pretends that it was legitimate
for we all know that the present state
of the market calls for exports. The
one ever present and ever potent factor
is that we have to pay England, Ger
many, etc, at least 5000, 1000, 900 year
over and above any trade balance. Fiji
teen years ago it could have been paid
with 1S5, 100000 bushels of wheat in
this port. Today it will take over 3OO,-
900, 900 bushels. Cotton is Low ",way
un" because of excessive heat and
drought in the gulf states. Still, it
will take 1000, 900, 900 more pounds to
pay that interest than it would when
the debts were contracted.
In view of these facts the goldbug
editors ought to get together and agree
ON their answers to these questions:
Will free coinage add value tn silver or
leave it as it is? Will it lower the value
of gold or raise it? win it initiate the
currency or contract it? And most inn
portant of all, will it raise prices or
lower thea, and if SO, how? Out in my
native Indiana they are soaring the
farmers with u bogy of contraction.
Here and in all other cities | can learn
of they are soaring the laborer with
the assurance that prices of necessaries
will double and his wages stand still,
and elsewhere they are bowling about
the loss of depOsitors in savings banks
because of the fall to "50-ccnt dollars"
and the awful gains to mine overs be-
cause so cents worth of silver is to be
made dollar And once week or so
in this city they agree that all danger
is over, Bryan is defeated and stocks
are to COUP and u wave of prosperity
roll over US. And about that time a
few pounds of gold go out and down
goes their house again. Isn't it a dis
graceful condition for nation of TO-
900, OOO2
j. &. BROWNING in Sound Money,