People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-09-03

/
| selling prices Of b yuHmber OF articles of
general consumption would be a more
| just standard than either gold Or silver. or
both, because a long time contract would
thereby be paid ae itslmsturtty by the
same purchasing power as was given in
the beginning,
1t cannot be successfully claimed that
monometalli,m or bimetallism or any
other system gives an absolutely lust
standard OF value. Under bo.h mono
metallism and bimetallism the govern.
ment fixes the weight and fineness of the
dollar, invests 1t with legal tender DUAL.
tiles and then opens the minis TO Tits I'M
restricted coinage, leaving the purchasing
power Of the dollar to be determined by
the number Of dollars Bimetallism is
better than monometallism, not because
1t gives us perfect dollar-that is. a dol.
lar absolutely unvarying in Its general
purchasing power-but because 1t makes
nearer approach to stability, 10
honesty, to justice than a gold standard
possibly can. Prior to 1878, when there
were enough open minis to permit all the
gold and silver available for coinage 10
find entrance into the worlds volume of
standard money, the United States might
have maintained gold standard with
less injury TO the people Of this country.
but now when each step toward a uni
Versal gold standard enhances the pur-
chasing power Of gold, depresses prices
and transfers 10 the pockets Of the creditor
class an unearned increment, the influence
OF this great nation must not be thrown
upon the side Of gold unless we are pre-
pared to accept the natural and legitimate
consequences of such an act.
End Not Reached Yet.
Any legislation which lessons the worlds
STOCK OF standard money increases the in
terchangeable value Of the dollar, there
lore the crusade against silver must inevi-
tably raise the purchasing power of money
and lower the money value of all other
forms OF property Our opponents some
times admit that it was mistake TO de.
monetize silver, but insist that we should
submit TO present conditions rather than
return to the bimetallic system. They err
in suppOsing that we have reached the
end OF the evil results of gold standard;
we have not reached the end. The injury
is continuing one, and no person can
say how long the world is to suffer from
the attempt to make gold the only stand
ard money. The same influences which
are now operating to destroy silver in the
United States will, if successful here, be
turned against other silver-using cOun.
tries, and each new convert to the gold
standard will add to the general distress.
so long as the scramble for gold con-
tinues prices must fall, and general fall
in price is but another definition of hard
times. Our opponents, while claiming
disinterestedne,s for themselves have ap-
pealed to the selfishness of nearly every
class OF society. Recognizing the DISPOSE
ton OF the individual voter to consider
the effect of any proposed legislation upon
himself, we present to the American peO-
pie 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
effects. Since they sell at wholesale and
buy at retail, 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 percep, IDLY decreased,
although it really requires more farm pro-
ducts now than TO merly to secure the
money with which to pay taxes. Debts
have not fallen. The farmer who owed
$1,000 is still compelled to pay $1,000.
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. The
wage earners have been injured by a gold
standard and have expressed themselves
upon the subject with great emphasis. In
February, 1895, petition asking for the
immediate restoration Of the free and I'M
limited coinage Of gold and silver at Is to
l, was signed by representatives OF all or
nearly all leading labor organizations and
presented to congress. Wage earners
know that while the gold standard raises
the purchasing power Of the dollar, 1t also
makes 1t more difficult to obtain possess
ion Of the dollar; they knew that employ
ment Is less permanent, loss Of work more
probable and re employment less certain.
The gold standard encourages boarding
Of money because money Is rising; 1t also
discourages enterprise and paralyzes in
dustry. On the other hand, the restora-
ton Of bimetallism will discourage hoard
ing because when prices are steady money
cannot afford to lie idle In bank vaults.
Farmers and wage earners together con-
stitute considerable majority Of the peo-
pie Of the country. Why should their in
terests be ignored in considering financial
legislation A monetary system which Is
pecuniarily advantageous 70 q few syndi-
Gates has far less to commend 1t than a
system which would give hope and en-
enlargement to those who create the ma
tons wealth. Our opponents have made
special appeal to those who hold fire and
life insurance policies, but these policy
holders know that since the total pre-
miums received exceed the total losses
paid, rising standard must be Of more
benefit to the companies than to It's policy
holders. Much solicitude has been ex-
pressed by our opponents for depositors In
savings banks. They constantly parade
before these deposltors the advantages Of
o gold standard, but these appeals will be
In vain because savings bank depositors
know that under the gold standard there
Is increasing danger that they will lose
their deposits because Of inability Of the
DdQkS W COlicCt tntlr hSSeJs, anu bney etlll |
further know II the gold standard is to
continue indefinitely they may be COM
PEELED 10 withdraw their deposits In order
to pay living expenses 1t is only neoes-
sary to note the increasing number Of fail
ures In order to know that the gold stand
ard Is ruinous to merchants and manufac-
turers. These business men do not make
their profits from the people from whom
they borrow money, but from the people
to whom they sell their goods. II people
cannot buy, retailers cannot sell, and II
retailers cannot sell, Wholesale merchants
and manufacturers must 90 into bank
ruptcy.
Effects Of = Rising Standard.
Those who hold as permanent invest
ment the stock Of railroads and Of other
enterprises Il do not include those who
speculate in stocks, or use stock holdings
as means Of obtaining an inside advan-
tage In construction contracts, )areinjured
by the gold standard. The rising dollar
destroys the earning power Of these enter