Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1896-08-20
the ISSUE DISCUSSED.
A. O. Phelps Talks on the
Money Question to a
Good Audience.
Some of the Well Known
Propositions Clearly
Stated.

SIaC0Os
"For the first time in the history Of
the United States" said A. 0. Phelps OF
Pueblo, Colo, in an address at the court
house Thursday on free coinage OF
silver, "the financial question 10 the
prime issue Of political campaign. All
oonoede that-the gold STANDARD men on
one side and the b.metsllists on the
other. The tariff 10 no longer the issue.
I want to congratulate you, to whatever
party you may belong, that this year the
people are understanding the money
question as never before.
1T has always been said by the great
political leaders that the people could
not understand the money question; 1t
was too deep, too abstruse. There was an
object in this for from time immemorial
l,ae few have made merchandise OF
money for their benefit and at the ex-
pense OF the masses of the people"
At this point, while the audience was
gathering and filing the court room.
Mr.. Phelps entered into brief dis
cussion OF the theory Of money. Money
has always been regarded more or less as
wealth, although it is but means of
procuring wealth; 1t IS an exchanRer OF
the various f0rms Of wealth and hence is
simply convenient implement to save
time. When money was first invented
it served the same purpose exactly that
is served by any other time or labor
saving device. And when this is per-
formed then it is fulfilling it's function.
The gold standard men say that money
is q measure Of value. Value cannot be
measured, but arises ont of use. His
remarks were frequently applauded.
Speaking Of the demonetizatlon OF
silver Mr.. Phelps said:
As there was no international agree
ment to demonetize silver Is there any
reason why we must 60 to foreign
nations for their consent for it's remone-
tizaLion? (Applanse. We went it alone
then and now are stronger in numbers
and resources, and can 60 back alone. CAP
plause. We didn't get the consent Of
England to 60 out and so We refuse to
get the consent of England to 60 back.
(Applause)
When he predicted that the American
people would take step this year that
will enable them TO return alone and
rehabilltate silver by electing by haud-
some majority "the magic young states
man Of the western plains, William J.
Bryan" the audience broke ont into
cheers and applause.
Mr. Phelps commented upon the
'sobject lesson" Of the James River
National bank, reference to which hss
appeared in The Alert He said the
cause OF the deprecisted value Of the
Mexican dollar is not free coinage: just
the opposite. The reason the Mexican
dollar is worth $40 in the United States
10 because of the demonstration Of silver.
II the United States re-enacts free silver
legislation that dollar will be worth 1920.
(Applause.)
The reading Of the statement about
the exchange Of United States dollars
one for two-for Mexican dollars, re-coin-
age at the mint, land % on ad infinitum
at the expense Of the United States
created considerable laughter.
ut makes me ashamed for the Amer.
icans," the speaker said. II am ashamed
that Americans will write such stuff as
that and hang it at bank wlndows to
give people an object lesson in finance.
Doesn't every one know that Just as soon
az Bryan is elected silver will begin to
20 up all over the world? Applause. }
Just az soon az Bryan is lnaugurated
and congress is called in extra
ordinary session to enact .
free coinage law all stocks of silver bull
hon all over the world will have arisen
to 81. % an ounce; and it will take $1.29
in gold to buy an ounce OF Mexican sill
YER and the silver in the Mexican dollar
will be worth 1920 in gold.
The Minneapolis Journal. the st. Paul
Pioneer Press, the st. Louis Globe Dem
ocrat, the Chicago Tribune and other
papers say free coinage will drive gold to
80 per cent premium. know the gold
men so we'll that I think that it there
was any possibility of driving gold to 80
per cent premium they would be right
in the swim for it. (Applause.
Political Pointers.
Herr Johann Most, in the east, and
the socialists of California, in conven-
tion assembled, have come out against
free coinage of silver.
North Dskotan: Congressman John
sons figures show that the wheat raiser
in India got S1.27 bushel for wheat in
1893, upon the same money basis he had
in 1878. Compare that, North Dakota
farmer, with what you got on gold
basis