The Progress. (Shreveport, La.) 1892-1900, 1896-09-05

(tIS SuOW lnhl NilutI " gnu S'""p'' |
there is increasing danger that they
Will lose their deposits because OF The
inability of the banks to collect thell
assets. and they still further know that
II the gold standard Is to continue IN
definitely they may be compelled h
withdraw their deposits in order to pay
living expenses.
Gold Means Ruin to Merchants
1t is only necessary to note the III
CreaSing number Of failures in Ordf'
to know that gold standard is ruin,
ous TO merchants and manufacturers
If tie people cannot buy, retailers can
not sell. and, If the retailers cannot
sell. Wholesale merchants and manu-
fucturers must go into bankruptcy
chose who hold, as a permanent In
vCstmcnt, the stock Of railroads ana OF
other enterprises. are injured by go'o
standard. The rising dollar destroys |
the earning power of those enterprises
witaou. reducing their liabilities, and
as dividends cannot be paid until sal.
aries and fixed charges have been sat
isjicl. the stockholders mus bear the
burden of hard times.
Salaries in business occupations dc.
pend upon business conditions. and tins
gold standard both lessons the amount
and threatens the permancncy OF SUCH
salaries.
Its Eject Upon All Glasses,
II have not attempted to describe tbs
effect Of tho gold standard upon all
classes in fact, have only had tins
to mention q few-but each person
will be able to apply the principles ac'
cOrdina to his own occupation.
must not be forgotten that the dollar
cannot buy more than formerly unless
property sells for less than formerly
Hence, it will be seen that large por'
ton of those who may find some pc
Cuniary advantage in gold standard
will discover that their losses exceed
their gains,
Hryan Attacks tho Gold Bugs
'In 1869 Senator Sherman said: THE
contraction of the currency is far
more distressing operation than sena.
tors suppose. To every person. except
capitalist out Of debt or a salarled
officer or annuitant, 1t Is period Of
loss. danger. lassitude Of trade, fall OF
wages. suspension Of enterprise, bank
ruptCy and disaster. 1t means ruin tc
all dealers whose debts are twice thel'
business capital though onc-third less
than their actual property. 1T means
n the fall of all agricultural production
n without any great reduction Of taxes.
\ Mr.. Sherman was at that time speaB
& ;np of the contraction of the volume
T of paper currency, but the principe
+ which ne set forth applies II there i
u contraction of the volume Of tn
y ! standard money Of the world,
- Blaine WA. for silver.
=. Mr. Blaine discussed the same prln
~ ciple in connection with the demone
+ tjzation of silver. Speaking in tn
a. house of representatives on Feb.
II 1878. he said: I believe the struggl
y, now going on in this country and othe
I" countries for single gold standar
ia would, if successful, produce wide
u spread disaster in and throughout tn
= commercial world. The destruction {
~ silver as money and the establishin
Il. of gold as the sole unit Of value mu
v, have q runous effect upon all form
~ of property. except those investe
which Weld a fixed return in money
Is it strange that the holders OF tnves
III ments which yield fixed return
re money can regard the destruction
D. silver with complacency? II the rel
al lively few whose wealth consists larg
I! w in fixed Investments have a right
eo use the ballot to enhance the value
''o their investments, have Eot the rest
,o the people the right to use the ball
ne TO protect themselves from the disa
~ trous consequences OF rising stan
Gu ard? What shall it profit us to have
IL dollar which grows more valuat
es,, every day If such dollar lowers t
,'u standard OF civilization and brings d
10 tress to the people? Il it Is assertt
as It constantly is asserted, that t
gold standard will enable us to borrt
oio more money from abroad, l reply tt
i.s the restoration OF bimetallism will
arc store that parity between money a
''' property, and thus permit an era
,e', prosperity which will enable the Am
,''' lean people to become loaners OF mon
, w. instead of perpetual borrowers.
80 Must Stop borrowing.
a. even If we desire to borrow, h
nov long can we continue borrowing UNI
system which, by lowering the va
me, of property, weakcns the foundat
ia upon which credit rests? Even
o 10 holders Of fixed investments, thor
dol. they gain an advantage from the
all preciation of the dollar, certainly
70 the Injustice of the Legislation wh
no. gives them this advantage over tn
ore whose incomes depend upon the va
of property and products.
o, "If the holders OF fixed investme
!, .r, will not listen to arguments based
loo, Or Justice and equity, appeal to II