The Portland daily press., 1896-08-31
DEPRECATED CURRENCY.
Gov. BOies Says Yhat Is What PeO.
pie Want.
ONLY MONEY LENDERS DESIRE
THE GOLD STANDARD.

Dollar in Silver Bullion VIII Purchase
Much Now as 1t Would in 1873
Silver Hasn't Deprecated, But Gold
Has Appreciated.
Waterloo Iowa, August SO.-A large
crowd gathered in the east sids park
here last evening to listen to Ex-Governor
Horace Boies open the campaign in be-
half of the Democratic party. Mr.. Boies
said the subject which called them to-
gether Was one which overshadoWed
every other since the great war.
Mr.. Mckinley had taken pains to al
lege that an appeal had been made to
the classes and an attempt to divide the
country on the silver issue. By the very
nature of things there must be classes.
The man whose wealth was money nat
urally wanted the gold standard that
made his moneysmore valuable; the man
who produced what must be sold for
money, would, if he understood, favor BIZ
metallism. Cheaper. money. which they
called "depreciated currency" was the
best for the people because it tended to
raise the prices of products.
81 said some days ago to a reporter for
q New York paper continued the
speaker, 'sthat the condition of the West
ern farmer is deplorable; that the prices
of the products of the farm ara SO low
that If a man was given the use of his
land and required to furnish capital
to run it pay the laborer the same wages
he could get in other kinds of work,
keep up the repairs and pay taxes, and
to do this had to sell the prod ucts of
his farm for the present pric es, he would
find himself without dollar left at
tho end of the year.
Ct said that and now fin d oeytain
New York capitalists declaring that O
greater amount of falsehoods was never
included in the same language. Now I
didinot make that statement upon my own
experience alone, but several years ago
the Iowa commissioner of labor made an
inquiry of over 500 Iowa farmers of the
cost of raising a bushel of corn. They
sent him reports and from them he
found that it cost 28 uents per bushel to
raise corn Ia Iowa. Today in over half
Of the state, corn is selling for IA cents
per bushel."
u The speaker took up the question OF
prices and said it was all question
of prices. The honor of the country was
not involved for the reason that the gov
ernment obligations were payable in
ooin. They bore no promise 80 be paid
in gold alone. With the gold standard
prices had deprecated and money had
appreciated until it would purchase
twice as much ns it woulu in 1873 The
speaker said that compared with the
value of the products Of labor a dollar in
silver bullion would buy as much as 1t
would in 1878, while a dollar in gold
bullion would purchase twice what IT.
would then.
What was the true standard of COM
parisonP He showed that while gold
had doubled in value, silver had re-
mained as 1t WAS in 1873. He said that
1t was the man who must borrow who
had been wronged. cruelty wronged.
Half his money had been taken away,
while the money of the money lender
had been doubled in value. If the
Chicago platform resulted in silver
monometalism, Congress could remedy
1t. If we waited, as the Republicans
asked us to, until wo got the consent Of
other nations, we would fasten the gold
standard upon the necks of our people
for all time to come.