The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-18

| consequences N
Silver Victory In November Would Bs
Panic, bankruptcy and Universal Dis.
tress and Poverty-Free Coinage at Six
teen to One Means silver Monometal.
lism-Wages VIII he Cut Down and
Half of the Peoples Savings VIII Be
Lost-Appeais to Prejudice In Support
of Reputation Policies Are Immoral
and Bound to Fail.
| Continued fom Yesterday.)
anu wnss nxve tne apostles OF rree snyer
| coinage b say TO thisp Hear Mr.. Bryan him
| self in his famous New York Grafton, "While
! gold standard raises the purchasing power
| OF the dollar IL also makes it more difficult 10
obtain possession of the dollar-employment
Is less permanent, loss of work more probable
and unemployment less certain" Is that allp
Yes, all. Does not Mr.. Bryan know that I'M.
der what was practically the gold standard
we had IN the tfties one of the most active
and prosperous periods this country has ever
seenf Does he not know that more recently
at the time of the return to specie payments
we had under the gold. standard years of sig.
nal prosperity with all hands at work. And
does he wish TO learn what has been the
trouble since and what Is the trouble nowf
Let him ask the employers of labor, and with
almost one voice they will tell him that not
the existing gold standard, but the growing
danger OF it's overthrow, that the growing ag-
gressiveness of the free coinage movement,
Milling the minds of men with anxious appre.
tensions as to dark future uncertainties has
served to paralyze that spirit of enterprise
winch sets the laboring man TO work Let him
study the history of the crisis of 1893 Not the
gold standard, but distrust of silver DESTROY.
cd the confidence that employs labor This
deny it,
Debtor and Creditor.
The free coinage men profess especial solicit.
tude for those whom they call '.the debtor
class. Who are the debtor class? Our silver
friends speak as II. as a rule, the rich people
were creditors and the poor were debtors Il
this correct? In my household am the debtor
To the cook and the chambermaid and the
washerwoman two or three weeks in the
month, and they are my creditors. Nor
are they likely 10 be debtors to anybody else
while l may be, for they have little il
any credit, while | perhaps have some am
therefore the only debtor in my house
The relations between the large employer of
labor and the employees are substantially the
same. Ordinarily the employer, the rich man.
Is apt TO be the only debtor among them
The employees are, as rule, only creditors, |
and as they lay up savings they are apt TO be
come creditors in larger sense. They depos.
IL their money in savings banks or invest il in /
building associations, in mutual benefit socie. /
Ties, In loan companies in life insurance
policies and become capitalists in a small Il
way. The amount deposited by people OF L
small means IN the savings banks of the United Il
States Is at present something over 81, 500 OCO
OO, that invested in building associations
about SoOO,UO,OOO, in mutual benefit societies
s5oS, OOC,OOO and in life insurance many hun.
dred millions more
The number of such creditors belonging To |
what our silver friends often call 'the toiling |
m IA IA hnE fora L. nv
With their dependents il may, for aught we |
Inow amount to SIS, 600, 900 or $50, 600 600 Who |
re the debtors OF these creditorsY The saw |
ngs banks had, according to the reports of
s94, loaned out about one-half of the money |
deposited with them % real estate mortgages |
nd invested the other half in United States |
onds, state, county and municipal bonds and |
abroad and other bonds and stocks The in. |
OF the life insurance companies |
we're about proportionately the same The in.
estments IN real estate mortgages are always |
referably in large amounts, on property be. |
)nging TO comparatively wealthy persons or |
D business corporations. Thus the debtors to |
hese creditors belonging to the toiling masses |
re the United States states and muncipali. | .
les, railroad and other corporations and per. |
)ns very much richer than the creditors |
ere We have, then, rich debtors owing to |
lany millions Of poor creditors thousands of |
lillions Of dollars.
The silver orators pretend that they have the |
bling masses greatly at heart and that free | I
'inage is TO DO introduced mainly for their {
enett How d. they take care Of the toiling |
asses in this case? By bringing us down
pom the silver basis they simply cut down |
lie thousands OF millions OF invested savings |
poor people TO about 80 cents on the dollar. |
nd for whose benefit Is this done2 For the | a
'nett OF the debtors of these poor people, who | J
i'll gain about so cents on the dollar And |
no thew Aside from fh.a MT oil i y
I'd the states and municipalities. those | :
'btors are railroad and other corporations |
ID more or less rich men. whom our silver | N
lends profess TO abhor very much as belong. | k
z TO the money, power" Thus will the | r
liver standard bleed the poor creditor for the |
neht OF the rich debtor. May not the toll | q
Y masses pray heaven to deliver them Of the | -
zee coinage friendsi
How the Peoples Savings viii Fare. x
And what have these friends to say in their | p
IN defensef Twill again let Mr.. Bryans New |
)rk Grafton speak. He says first, with regard | u
the insurance companies, ''Since the total | II
emiums received exceed the total losses paid / O,
rising standard must be of more benefit to | ri
o companies than 10 the policy holders" | ST
NV wisel And that the companies may not | -.
We this benefit he proposes by tho silver | =.
lndard TO strip the policies Of the policy | m
lders OF nearly half their valued But does |
Mr. Bryan know that most OF these com. |
MICS are mutual assurances, and that what 90
nents or Injuries the companies therefore | S5
nehts or Injuries the policy holdersf A
As TO the saving bank depositors he saws | g.
)nder gold standard there is increasing |
niger that the savings bank depostors will | ~
o their deposits because Of the inability of | y,
, banks to collect their assets" And to | D.
ert this danger Mr.. Bryan advises a policy
Itch would, by the introduction OF the silver | A
indard. at once cut down the value Of those | 10
'ets TO 30 cents on the dollar. He further |
~, IF the gold standard Is TO continue in. IN
1nitely, the depositors In savings banks may ~,
compelled to withdraw their deposits in |
Ter to pay living expenses" Indeed II is | G.,
charitable fact that since 1873 the year OF | or
great crime, until 1896, during the period | so
en- we had to suffer all the calamities of the |
d standard, the deposits in savings banks | ~
We, instead of being withdrawn for living | ,mnii
oenses, increased-positively increased | AZ,
ch over tl,OO0OO0,OO0 And they would
10 Increased still more had not some deposit. Al
Withdrawn their deposits, not for living w
'enses, but to send them to Europe for safe. an
out OF the way of Mr. Bryan and other | IT.
'nds OF the toiling masses They will no | s5
lot bring that money back as soon as Mr.. an
'an Is beaten. CHI
ct us go on. Almost every man In active
iness is n debtor and a creditor at the same ~
e-every merchant, every manufacturer ~
editor 10 his customers and a debtor TO | an,
SO from whom he buys. Let Mr.. Bryan | far
~ on his panic and hundreds II not thou. | fro
ns OF them, although ever so solvent under u
mary circumstances, will break because | ~ 4
cannot pay what they owe, being unable | hol
ollect what IL due them. NH
'Cheap Money" FaIIacies. y
At we are told that the Bryan panic cannot fra
forever; that finally the business of the | plIl
ntry will adjust itself 10 the silver basis: mil
then unrest will cease, and that confidence mil
prosperity will return. No. the unrest ~ ~
not cease. for with the establishments OF uo'
silver basis will come the disappointm.nt | ~
hose who brought 10 on. M
ne ultimate result il not nj all uncort.t. i nil