Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-09-29
What 1t Costs the People to Maintain
the Gold Standard.

What It Costs the People to Maintain II
the Gold Standard.
What is the matter?
Poverty is increasing. With increas- q
ing poverty there is more crime. Sui a
cides are more frequent and despair is o
displacing hope. The wealth Of the II
world is drifting under the control OF II
the few. Department stores are ruin 7
ing the small shop keepers. Syndi- n
Gates manipulate our industries. The II
independent farmer has become hope t
less toiler. The day laborer sees moth c
ing ahead but u hand-to-hand strug- l
gle for existence. q
Something is wrong. 4
The days are just as long, the soil Is G
just as productive, the sun shines just
as brightly and the rains are justa re-
freshing. Our housewives are far more
economical and the opportunities for
lettering our condition should not be
fewer.
Still, prices are falling. Real estate
is poor Investment. Business enter
prises far more of receiverships than
profits. Mortgages are being fore
closed and deficiency judgments en-
tered. The courts are busy running
bankrupt railroads at the instance Of
bondhoders. Money at interest at
three per cent. is more profitable than
in employing labor in industrial en-
terprises. The nation is O constant bor-
rover, and, although taxes are an ex-
cessiye burden from the national gov
eminent down to our municipalities,
the public revenue is insufficient.
This sort Of thing has been going on
for more than 20 years.
Unless things change there is no GER
tainty for the future but universal
!, bankruptcy.
The excuse given for the deplorable
, state of affairs by those who advocate
the gold standard is that there has been
J, overproduction. In other words, we
4 have been made poor by reason of hav-
ing too much wealth. People are starry
ing because they have too much to eat.
:, Railroads are going into bankruptcy
y because there are too large crops to
= move. Men are in rags because the
: sheep have produced too much WOOL.
Y The conditions that exist are these:
e All men would like to have on hand
i plenty of flour. From the gold mems
): statistics the supply of wheat seems to
e BE adequate. The men who own the
: wheat would like to exchange it for
% money, but the people who need the
s. wheat have no money to give in eN-
l. change. Real estate has fallen in value
i'd until no one can readily tell what it is
Of worth. There are numberless people
~ who would like to own homes, and
r there are plenty of people who would
n like to sell Land. But the people who
- want homes cannot raise the money to
rs exchange for the land, and the result is
very unsatisfactory to both parties
RS There are hundreds of thousands of in.
m dustrious men and women who would
r. lilSeto make an exchange OF their labor
ne for money, ;in order to exchange the
ne money thus received Tor things which
.e they really need. but the owners o.
!. - ,ney cannot find profitable invest
= men+s 80, falling market and hence
-, - ~ panhs the working
"Ao tue WORKING men ane -rnrse
IL women gowithout employment. liz.
are rdiculously cheap, and many people
he would prefer riding to walking. The
n nlen who own the horses need money
-. as and would like to sell, but the mass of
~ the people keep on tramping, for some
"A could not afford horse, even If he
h. could be purchased for two bits.
he We have. then, plenty of labor which
I'D is seeking market. We have manifold
ed opportunities awaiting the touch of
Ill money to spring into benefcent life.
On We havean amply supply of the necessl-
~ ~ ties of life, and yet, with bursting
- granaries, there are needed more pau
~ 3erhouses. With ample wealth on every
in hand there is a demand for more police
to men to club down crime born of saualor
r and misery.
a On the other hand, gigantic fortunes
is have been accumulated in the hands Of
~ n few people, While hundreds Of thou
>. sands suffer, tits possible for Whitney,
- through the magic of his wealth, to
:. transform 1000 acres of wild land into
ne q pleasure garden for his children in
s. less than 20 days. Impeounious lords Of
n the old world have no difficulty in ex-
f. changing their titles for the daughters
e. of our millionaires, while many honest
81 Worldngmen cannot sell their labor at
any price, The bcnefciares of this
vicious condition insist that II shall
Ncheihu w ltl'oh eiiS isiisS plCd uOucSl
~ money" The peculiar advantages which
N. they secure may be the real reason why
is they denounce their suffering fellow
b. conntrynen rs ',pnarchists," and yio
IL lently rail because cry of distress
sometimes rings above the chink of
es their gold. As other people sn ffef They
lal gain. The listress of the government is
As their source of profit. Take, as an Illus
he iratiep, the story of the great bond syn
nd dicate, as told by a gold paper Of New
ill York city on February21, 1895. The re-
its suit Of the figures produced is astound-
IT, ing, This is how the account stands
between the government, ihe represcu-
cy tatives of the people and the syndicate:
Face of NEUTRALITY-SUSPICIOUS.. SCI 3I5 900
Syndicate premium at lO4.49. ...... 2,797.9iS
United States gcts............."... Co. 2,9i3
Syndicate profit to 1870. 4.SS5.G44
inside iebSers s' prot to-, to lis s5ssiis
The public ray and the United
u siSsis s as9sa ave rseeysa siss 2
l'ROFIT AND LOSS.
ta Fellmaont s Morgan buy ss2.sll.oN0 -,
at lla25 G?94s,5s7
Belmont & Morgan !,ro!it......... 4sS5 G44
as Inside jobhers buy sG2.Sl5,c00 Mt
inside jobhers sell at lis SsSsi.SSe