The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-12

not be deluded by words We may clamor in
vain for capital; it will not come to us unless
there be security for 1T. IT will remain IN
the world where reward Is small but GER
tain. And without capital, there VIII be no
enterprises and no work for the people.
LABOR WOULD SUFFER MOST.
II am absolutely convinced that the la
boring classes will suffer the most of all
from free silver coinage. And yet the la
boring classes are those who are the most
urgently appealed to in this free silver
movement. n man who talks against free
silver is put down at once as enemy of
the common people,. Well. for my part, |
am willing to be called an enemy of the
working classes, of the common people, If
1 am in reality advising them for their
good and serving their true interests.
Those. above all others in the land VINO
should to-day be their guard against the
silver movement, are the iaborers OF Amer
ica.''
But. will not the farmers be benefited?
Will they not receive a higher price 1oF
their products? Maybe a higher price
but not higher value. OF what use is 1T 10
have dollar instead of half dollar !.
the dollar can purchase no more tnan the
half dollar? and will farmers receive even
9ominally & much higher price m n shan farr ,nTs
product is his own country. And II his own
country is impoverished if factories are
closed If laborers in cities are penniless.
the farmer will receive but little for his
Men on salaries will scarcely hope 70
have their salaries doubled. even nominal
ly, and then their salaries, such as they
be, will have only half the purehasing
power they have to-day. Those VINO owe
debts ayable-principal or interest-ih
gold will receive the same salaries as to-
day and their salaries VII have AYE baxe bat h o
day But those who owe debts not p1yapie IN
gold! Well, if the country is ruined, Where %
will they find even silver to pay their
debts in silver?
'sThe only men benefited-and they are
few to-day and it is scarcely worth while
to bring around a revolution in the coun-
try to benefit them-are the deDtors, VINO
have to-day gold on hand and VINO Dy Lres
silver coinage, viii have their store doub.ed
in nominal value and VIII be enabled 10
reduce their debts by one-half And for
1T is a delusion to imagine that silver
will circulate Dlentifully that 1t can De
make up for the lack of value. If silver
bullion does not increase in commercial
value, silver will not be produced III guam
titles, and as owners of silver VIII not part
with it, except in exchange for commod-
tiles or labor which they deem useful ana
valuable, if the business of the country is
little silver and obtain no proht from Tree
..But|and here is the popular argument
in favor of free silver coinage-we nave
had hard times under the gold standard
That is true, and what is also true, Is that
under the silver standard we shali nave
much harder times. 1t Is the great Iailslcy
of the day to be attrlDutlng our nara TIMES
TO the gold standard. The craze for free sill
yer as a cure for hard times is eXpicable
on the same theory that a man who mas
been n long time sick, despite the attentive
care of expert physicians, will call for any
auack who adyertises to cure all the Ills
of humanity. Hard times have come
through the severe and resistless working
of economic laws, which go their way in
spite of legal enactments of parliaments
and congresses.
Good times may be expected to come
back surely even if only gradually The
over production that glutted our markets
has been used up; capital is anxious to do
something with it's money, II 1t can be IN
vested safely; our wonderous natural re-
sources invite investments to develop them
and, confidence restored, the outlook is
bright. But the essential thing is conf
dence.
There are a hundred aspects of this
question which / do not touch upon.
merely throw out some few thoughts which
show reasons for my own present political
faith and which may be of some benefit
to others in forming their own Judgment.
may of course be mistaken. But / have
come to look upon the present agitation
as the great test of universal suffrage and
popular sovereignty. Can the people defend
public honor and the institutions of the
the field of battle? Can they be calm
and deliberate in their judgment, 50 careful
to weigh all things in the scale of reason
and to avoid all rash experiments that they
can be trusted with the settlement of grave
social and political problems? That is the
question that is before us at the present
moment,