Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-19

'i'tit tStittdi iiiust put itSsIl IIio tfit
| American market whether the capita
be American or European. We should
rot be deluded by words We may
ciamor in vain for capital it will not
come to us unless there be security fol
il. 1t will remain in the vaults of safe
ty or go to other parts of the world
/ where reward is small but certain
And. without capital, there will be no
enterprises and no work for the people
WOULD HURT WORKING CLASSES
l am absolutely convinced that the
laboring classes will suffer the most of
all from free silver coinage. And yet
the laboring classes are those that are
the most urgently appealed to in this
free silver movement. A man who
talks against free silver is put down at
once as an enemy of the common peo-
fle.'' Well. for my part. l am willing
tC be called an enemy of the working
classes. of the common people," if I
am in reality advising them for their
good and serving their true interests
Those above all others in the land who
should today be on their guard against
The silver movement are the laborers of
America.
But will not the farmers be benefited?
VIII they not receive a higher price
for their products? May be a higher
price. but not higher value. OF what
Use is it to have dollar instead of
nalf-dollar if the dollar can purchase
10 more than the half-dollar? And will
farmers receive even nominally a much
higher price than they do now? The
BEST market of the farmers product is
his own country. And if his own coun-
try is impoverished. if factories are
closed, if laborers in cities are penni-
less, the farmer will receive but little
for his harvest.
Men on salaries will scarcely hope to
have their salaries doubled even nomi-
nally. and then their salaries, such as
they may be, will have only half the
purchasing power they have today.
Those who owe debts payable-prin-
cipal or interest-in gold. will receive
the same salaries as today, and their
salaries will have but half the debt
paying power which they have today.
SAYS 1T IS A DELUSION.
But those who owe debts, not paw
able in gold? Well, if the country is
ruined, where will they find even silver
to pay their debts in silver? The ONLY
men benefited-and they are few TODAY
and it is scarcely worth while to bring
around revolution in the country to
benefit them-are the debtors. who have
today gold on hand, and who, by free sill
yer coinage.will have their store doubled
III nominal value. and will be enabled
70 reduce their debts by one-half. And.
FOR those, the question remains: Is il
honest?
1t is delusion to imagine that silver
VIII circulate so plentifully that it can
be had easily by all. and that the uuan-
tity VIII make up for the lack of value.
III silver bullion does not advance in
commercial value, silver will not be pro-
ouced in quantities, and as owners of
silver will not part with it, except in
exchange for commodities or labor
which they deem useful and valuable
II the business of the country is not
prosperous the people will get very III
Tie silver and obtain no profit from free
mintage
But-and here is the popular arsu-
'nent 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 stand.
ard we shall have much harder times
1t IS the great fallacy Of the day to he
attributing our hard times to the gold
standard. The craze for free silver as
cure for hard times, is explicable on
the same theory that a man who has
been a long time sick despite the at
tehtive care of expert physicians. will
can Tor any quack who advertises to
cure all the ills of humanity. Hard
uiaes nave come through the severe
ana restless working of economic laws.
Wnich go their way in spite Of legal en-
aetments OF Parliaments or Congresses.