The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-17
COSTS LIFE BLOOD
(CoDtinued from Third Pagel

a monopoly. Practically the gold dol
| lar is a Northumberland dollar. Nomi-
nally it still has only hundred cents
worth of commodities to get one when
measured by bimetallis prices.
PRICE PAID FOR SPECIE BASIS.
For some years during and after the
war we were on a paper basis, and for
a while a paper dollar was not worth
over 40 cents in gold, but our people
prospered as they had never prospered
| before. There were no strikes and no
| tramps; labor was mployed and was
content. There were enterprise, thrift
and industry everywhere. Then we con-
| tracted our currency and paid the awful
price of six years of panic, with all the
misery and ruin which it spread over
| the land, in order to get on coin or
specie basis, as it was then called.
Now, my fellow citizens, look at the
price our country with the rest of the
/ world is paying for this gold standard.
Bankruptcy, paralysis, ruin, endless
suffering and misery for all these years,
and we are getting absolutely nothing
in return for it. Debts have been prac-
tically doubled by law; that is a condi-
ton that was created by law which so
affects prices that it forces the debtor
to sell twice as much property as was
formerly needed to pay off his debt.
All the great European countries are
even worse off than we are. A year ago
Mr.. Depew returned from a general
tour of Europe, and in an interview
stated that the one thing which struck
him everywhere was the almost uni
versal paralysis in the industries and
in trade, and the misery which goes
with it. In making this statement he
simply verified what other travellers, as
we'll as the European writers, have al
ready proclaimed 10 the world. No man
has pointed out or can point out where
in the people of the world have derived
one dollars worth of benefit by the
adoption of the single gold standard
This fearful payment of the life blood
of the nations of the earth has gone
practically for nothing, and there is no
hope or prospect of restoring the pros
perity and happiness of our people until
this great wrong is in some manner
righted.
CONDITIONS IN MEXICO.
We frequently hear men who have
more zeal than knowledge refer to Mex
leo as terrible example of a silver
basis and a 50-cent dollar. These gen
tlemen do not seem to be aware of the
fact that since the decentralization of
silver in other countries Mexico has
been more prosperous than ever before.
Mexico, like some South American
countries, was very far behind the
United States on account of poor gov
eminent. oppression. superstition. finat-
icism, limited money and general dis
order; but she has made greater strides
toward becoming a mighty nation since
1873 than ever before.
In June, 1895, the Mexican minister
at Washington, NJ. Romero. published
an article in the North America Re
view on the silver question so far as il
affected Mexico. IN which he shows that
while the demone tization Of silver. and
the consequent burden on gold. had
forced the purchasing power Of gold up
so that a Mexican silver dollar was
worth only so cents as measured in
gold, still the Mexican silver dollar
bought as much commodity IN Mexico
as Il ever did. In other words. there
was no decline in the silver dollar as
compared with the price OF commodi- |
ties. That the mere fact Of the Next
can dollar being worth less than a 1
dollar IN gold prevented IL from going 1
on; OF the country as Il formerly did. 81 /
that finally money became more plenti- /
full in Mexico. Further, that as imports /
We're greatly reduced while the pvir-
chases in the home market were cor /
respondingly increased, and the result 4
was that not only all the factories /
were working 70 their utmost capacity. /