Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-14
FOR INDIVIDUAL VOTERS.
Effects of the Gold Standard on Different
Csllings Outlined.

Recognizing the disposition of the indi-
vidual voter to consider the effect of any
proposed legislation upon himself, we pre-
sent to the American people the financial
policy outlined in the Chicago platform
believing that it will result in the greatest
good to the greatest number.
The farmers are opposed to. the gold
standard Because they have felt its effects.
Since they sell at wholesale and buy at re-
tail they have lost more than they have
gained by falling prices, and besides this
they have found that certain fixed charges
have not fallen at all. Taxes have not
been perceptibly decreased, although 1t
requires more of farm products now than
formerly to secure the money with which
to pay taxes. Debts have not fallen. The
farmer who owed 81, 900 is still compelled
to pay 81 900, although it may be twice as
difficult as formerly to obtain the dollar
with which to pay the debt. Railroad
rates have not been reduced to keep pace
with falling prices, and besides these items
there are many more. The farmer has
thus found complaint against the gold
standard
Eject on tho Wageenrner.
The wageearners have been injured by a
selves upon the subject with great en-
ph,,sis. In February, 1895, q petition
asking for the immediate restoration of
the free and unlimited coinage of gold and
silver at 16 to was signed by the repre-
sentatives of all, or nearly all, the leading
labor organizations and presented to con-
gress. Wageearners know that while a
gold standard raises the purchasing power
49, 1>ln +
to obtain possession of the dollar; they
know that employment is less permanent,
loss Of work more probable, and re-em-
ployment less certain. A gold standard
encourages the boarding of money be-
cause money is rising; it also discourages
enterprise and paralyzes industry. On
the other hand the restoration or bimetaE
'lis1n will discourage boarding, because,
when prices are steady or rising, money
cannot afford to lie idle in the bank
vaults. The farmers and wageearners
together constitute considerable major
ity of the people Of the country. Why
should their interests be ignored in con-
sidering financial legislation? A monetary
system which is pecuniarily advantageous
to. q few syndicates has far less to COM
mend 1t than a system which would give
hope and encouragement to those who
create the nations wealth.
Insurance Companies and Savings Ranks.
Our opponents have made a special ap-
peal to those who hold fire and life insur-
ance policies, but those policyholders
know that since the total prtrliums re-
ceived exceed the total losses ps..S, rising
standard must be Of more benefit to the
companies than to the policyholders.
Much solicitude has been expressed by
our opponents for the depositors in saw
ings banks. They constantly parade be-
fore these depositors the advantages of a
gold standard; but these appeals will be in
vain, because savings banks depositors
know that under gold standard there is
increasing danger that they will lose their
deposits because Of the inability Of the
banks to collect their assets; and they still
further know that, If the gold standard Is
to continue indefinitely, they may be COM
PEELED to withdraw their deposits in order
to pay living expenses.
It Is only necessary to note the increas-
ing number Of failures in order to know
that gold standard Is ruinous to mer-
chants and manufacturers. These bust
ness men do not make their profits from
the people from whom they borrow
uQOu0y, Uut AIOAA 0Ao PoOpAo W "AOAA tNoy
sell their goods. II the people cannot buy
not sell wholesale merchants and manu-
faoturers must 60 into bankruptcy.
Business Occupations.
Salaries in business occupations depend
upon business conditions, and the gold
standard both. lessons the amount and
threatens the per1nanency Of such sal
aries.
Official salaries, except the salaries of
those who hold Office for life, must in the
long run be adjusted to the conditions Of
those who pay the taxes, and If the pres
ent financial policy continues, we must
expect the contest between the taxpayer
and the tax-eater to increase in bitterness.
The professional classes-in the main
receive their support from the producing
Glasses, and can only enjoy prosperity
when there is prosperity among those who
create wealth.
have not attempted to describe the ef-
feet of the gold standard upon all classes
lin fact, have only had time to mention
q few-but each person will be able to ap-
ply the principles stated to his:own occu-
patton. It must also be remembered that
it is the desire Of people generally to con-
vert their earnings into real or personal
property. This being true, in considering
any temporary advantage which may
come from system in which the dollar
rises in it's purchasing power, it must not
be forgotten that the dollar cannot buy
more than formerly unless property sells
for less than formerly. Hence, it will be
seen that q large portion Of those who may
find some pecuniary advantage in gold
standard will find that their losses exceed
their gains.
In Relation to Banks.
It Is sometimes asserted by our oppo-
nents that bank belongs to the debtor
class, but this Is not true of any solvent
bank. Every statement published by a
solvent bank shows that the assets exceed