The Forrest City times. [volume] (Forrest City, Ark.) 1871-1919, 1896-08-21

threatens the perinanency OF such salaries
'iciai salaries, except the salaries uf
those who hold offices for life must in The
long run be adjusted to the conditions of
those who pay the taxes, and If the present
financial policy continues we must expect
the contest between the taxpayer and the
taxeater 10 increase in bitterness.
The professional classes-in the main
receive their support from the producing
classes, and can only enjoy prosperity when
there Is prosperity among those who Gre
ate wealth.
Mr. Bryan said that the assertion of the
opposition that a bank belongs to the
debtor class is not true of any solvent
bank. Every statement published by a
solvent bank shows that the assets ex-
coed the liabilities, and, he continued, when
a dollar is rising in value slowly a bank
may, by making short-time loans and TAX
ing good security, avoid loss; but, when
prices are falling rapidly, the bank is apt
to lose more because of bad debts than it
can gain by the increase in the purchasing
power of its capital and surplus.
Beneiiclaries of IA Gold Standard.
Passing briefly over this point. Mr. Bryan
said: Let me say word now in regard
Gifted by d gold standard and who favor it,
not from a desire to trespass upon the
rights of others, but because the circum-
stances which surround them blind them
TO the effect of the gold standard upon
others. l shall ask you to consider the
language of two gentlemen whose long
public service and high standing in the
party to which they belong will protect
Them from adverse criticism by our OPP
1t must be admitted. however. that some
bankers combine the business OF a bond
broker with the ordinary banking business
and these may make enough in the ncgotia-
ton of loans to offset the losses arising in
legitimate banking business. As long as
human nature remains as it is, there Will
always be danger that, unless restrained
by the public opinion or legal enactment
those who see pecuniary profit for them
selves IN certain condition may yield TO
the temptation 70 bring about that condi-
Jefferson no of Z no
main duties of government is to prevent
men from tnJurinS one another, and never
was that duty more important than ii is
to-day. 1t Is not strange that those who
have made a profit by furnishing gold to
the government in the hour of its eXtremi-
~ FAVOR financial policy which will keep
the government dependent upon them. |
believe, however that / speak the senti-
ment OF the vast majority OF the people of
financial policy administered in behalf of
all the people would make our government
independent of any combination OF imam
clerS. foreign or domestic.
VI hat sherman Said.
The contraction CT the currency is A far
more distressing operation than senators
suppose our on n ana other nations have
gone through that operation before Ii
is not possible to take that voyage without
the soreSt distress. To every person, ex-
cept a capitalist out of debt, or saIariea
danger lassitude OF trade. fall OF wages,
suspension or enterprise. bankruptcy and
debts are twice their business capital,
though one-third less than their actual
property. 1t means the fall of all agricul-
tural production without any great reduc-
ton of taxes. What prudent man would
care to build house, a railroad. a factory
hi him." 'a' VIZ" inns certain i"e' before
Mr. Bryan continued: AS l have said
before, the salaTied officer referred to must
be the man whose salary is fixed for life.
upon business conditions. When Mr. Sher-
man describes contractio OF the currency
Capitalist out Of debt and 3 beose eySe o the
in position similar to his he is stating
truth which must be apparent to every per-
sideration. Mr.. Sherman was al that time
speaking of the contraction OF the vol
which he set forth applies, if there, is a
contraction of the volume OF standard
money of the world
Blaine's View.
Mr.. Blaine discussed the same principle
in connection with the 6emonetfzatfor, n
silver Speaking in the house of represent
atives on the eth of February 1878 he said
II believe the struggle now going on In this
gold standard would, 1t successful produce
widespread disaster in and throughout the
yer as money, and the establishing OF gold
a the sole unit of value must have ruin
Gus effect on all forms OF property, except
those invested which yield a fixed return
in money. These would be enormously en-
HANGED In value and would gain dispro-
portionate and unfair advantage over
every other species of property"
Is IT strange that the holders of invest
ments which yield fixed return in money
can regard the destruction of silver with
competency? May we not expect the hold
ers of other forms Of property to protest
against giving TO money ''disproportion-
ate and unfair advantage over every other
species OF property" If the relatively few
whose wealth consists largely in fixed in
vestments have right to use the ballot TO
enhance the value of their investments
have not the rest OF the people the right TO
use the ballot to protect themselves from
the disastrous consequences of a rising
standard?
Dollars That Grow Not Wanted.
What shall 1t profit us to have a dollar
which grows more valuable every day. If
such collar lowers the standard Of civ
ilization and brings distress to the people?
What shall II profit us II, in trying to raise
our credit by increasing the purchasing
power Of one dollar we destroy our ability
70 pay the debts already contracted by low
ucts with which these debts must be paid?
viii No Longer BE borrowers.
II II Is asserted, as 1t constantly is as
serted, that the gold standard will enable
us TO borrow more money from abroad, /
reply that the restoration of bimet allism
VIII restore the parity between money and
property and thus permit an era of pros
perity which will enable the American peo-
pie 10 become loaners of money instead
of perpetual borrowers
Even the holders OF fixed investments
though they gain an advantage from the
appreciation of the dollar, certainly see the
injustice of the legislation which gives
them this advantage over those whose in
comes DEPEND upon the value of properly
and products. If the holders of liked in
yestments VIII not listen to arguments
based upon justice and equity, | appcal to
them TO consider the interests Of posterity
We do not live for ourselves alone, our
labor, our selt-denlal, and our anxious care
all these are for those who are TO come
after us as much as for ourselves, but we
cannot protect our children beyond the ne
rlOd OF our LNes. Let those who are new
roaming adNAntage from q A.icinl1s. H. ..-I..l