The times. (Owosso, Mich.) 1882-1897, 1896-10-30

them. Banks, therefore, would be{
absolutely unable to realize ON theft
lateral, and though a combinS
might save the strongest for q time
mately many would fail.
Decentralization would follow.
Factories, mills, building operati
etc., would shut down by wholesale
all classes Of workman, mechanics
laborers generally, except farm ha
would be thrown out of employment
Wages, instead of rising, must in
near future fall, even though paid
in deprecated dollars.
AS unemployed laborers could
neither food nor clothing. the dir
ished demand would cause the price
grain, cotton and all farm product
fall, as is always the case even in 81
panics.
OF course all mortgages past due Q
default would be immediately called
and If not paid foreclosed and the M
gageors largely wiped out.
1t is needless to say that there We
be no money to loan, for who wOI
lend a hundred cents, or Ell
90 or 90, i'm order, later on,
get back but 81?
The farmer hopes to profit by
cent dollar with which to pay of
mortgage at half its face.
How will this work?
/ On the 9th of November next Il
would be no more silver dollars in
culation than today, nor on the 5ti
March next, since no more could
coined until after free coinage act |,
been passed.
Such law could not be passed WI
out the most desperate fight by the!
ponents of free silver. We could not ]
sonably expect that the bill would I
come law before next September.
Gold would go out, but no sill
would take it's place. Financial ST
gency would exist fer nearly q u
During all of this time farmers wq
have no crops to sell and could mott
much of the cheap silver money. II
would, however, be paying silver pr
for everything they have to buy. u
could not easily obtain money u
which to pay debts, and mortgS
would be foreclosed by wholesale.
Business activity would not retur1
once with restored currency, as credi
q creature of slow growth.
The outcome, therefore, for farm!
in debt must inevitably prove disastrd
As we'll might farmers think to pI
by selling their farm or labor for fra
instead of dollars because it take|
francs to make a dollar, and they wo
consequently get five times as many
them, as that by selling for silver
lars, two Of which make gold doll
they could make a profit.
All expenses of living would me
time have doubled, and as these adva
faster than labor or real estate (wh
always rise last of all commoditi,
even after work was found, wages wo
not buy as much as they do tod
Hence, after severe suffering in the st
and after low wages and high prices
many years, the laborer would be no |
ter off in the end.
And bow would the farmer be be
flied if, starting in debt, he had in
process lost his farm?
Mr.. Bryan claims it is inconsist
to say that free silver coinage will ca
disaster, and also that it will dou
prices.
But little reflection will show {
first we would have a panic, which
admits, and afterward prices would
doubled Tin silver). ''
In this great disaster capitalists co
save themselves by buying exchange
foreolosing. The hardships and mis-
would fall upon the laborer and til
in debt-that is, upon the mass Of
people-and make the rich richer ,
the poor poorer.
Crime and lawlessness would nee
sarily increase.
Instead Of more money, which ]
Bryan promised us, we have seen t
his election means a money famine
a year and more, and instead of "pl
perity for the producers Of wealt
there would be but losses, hardsh
and suffering.
nview of these inevitable a
many of them conceded cons
quences of Mr.. Bryan's electit
is it wise to vote for him?