The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1896-08-28

old effort to get something for nothing. The
Coxeyites wanted grub for nothing. The sim
gle tax cranks want land for nothing. The
Populists want government monopoly Of trans
portation and private monopoly of the wailing
business for nothing. The 16 to people want
30 per cent of debts for nothing. The Bellamy-
ties want everything for nothing. And
might suggest that the new woman wants our
bifurcated garments for nothing, but that is
not pertinent to the subject 1nder discussion
and will not do so.
The movement means reputation. All else
Is theory, pretense and dreams. 1t is an effort
to pass left handed, bankrupt BILL not for
the benefit of the unfortunate debtor who
cannot pay, but for the rich as well, who can
pay, but want to beat their creditors. The
poor man is not in debt; he never had a chance
to get in debt The corporations, spectators
and plungers generally constitute the debtor
class. Every wage Garner belongs to the cred
ttor class. No one would be benefited by 10 to
l coinage except the debtor class Even the
mine owner would not, for the temporary
stimulus given to silver would increase it's
production until the price would fall below
what 1t IS now. On the other hand, all would
suffer. If a bill for free coinage of silver at
10 to were to pass either house Of congress,
and it was ascertained that it would pass the
other house and that the president would sign
1t, the panic that would ensue would be to
that OF 1893 what tornado is to a zephyr.
Creditors to avoid being paid in debased mon
ey, would crowd and crush for payment as the
people do for exit in theater ON an alarm of
fire. Credit and confidence, the twin diyini-
ties of prosperity, would depart from us.
All business would be paralyzed, labor unem-
ployed, and despair would hang her black
pail in million Of homes, only to be lifted
when reason resumed her sway. 1t took
France so years to entirely recover from the
John Law fasco
BOW England Is Running Us.
The demagogues, in order to undermine the
moral sense of the people and make repudia-
| ton palatable rail about England s wealth and
falsely assert that she is trying to dictate our
monetary system and to crush US. England is
rich, but if she is trying to ruin US she has
peculiar way of manifesting her hostility. For
the year ending June 30, 1894, she took S423,-
OOO,OOO OF our exports, about seven times as
much as all the free silver countries in the
world. We took $107 0O0, 600 of her exports, and
she paid us the difference in gold or it's equiv
alent Did you ever hear a butcher or a baker
or q man with cotton to sell complaining that
his customers had too much money to spend?
Instead OF trying to drive us to gold stand
ard, it would be immensely to her interest to
have her commercial rival abandon the stand
ard of commerce and take back seat with tho
half civilized, noncommercial nations. The
ridiculous story of Ernest Seyd was exploded
years ago, and, though the vase was shattered.
the scent of that lie hangs round the country
still. The silver tongued orators still tell the
people there was conspiracy to demonetize
silver, although no man has ever been able to
call the name of single conspirator. In 1873
the motive for demonetizing silver was on the
wrong side The silver dollar was then worth
nearly cents more than the gold dollar. Who
at that time could foresee the fall of silver
Our statesmen and fnanciers are as shrewd az
any on earth, and they got no glimpse of the
coming event. Only to these unnamable con
spirators was the revelation vouchsafed. IL
bod Flo Dof,,, ic1a @rf
selves and worked the world on the heavenly
tipl
Several congressman, in the presence of an
irate constituency, have stated they did not
know the standard dollar was being demone
, tized when they voted for the act of 1873. 1t
was read several times in their presence.
There is no way to make people understand
things. They might have been deaf. One all
sufficient reason why they did not under
stand is that it was not being done. This dol
lar was not demonetized, but ON the contrary
has been money, and good money, every day
since 1892.
England has loaned us money alta lower rate
Of interest than anybody else would. This is
the very head and front of all her offending,
and the violent l6 to l people want to punch
her head for doing this. There is an old adage
which runs this way, "If you want to lose
friend, lend him money.
Want Reputation, Not Free Coinage.
To prove that it is Reputation of debt and
not coinage the 16 to ! man is after, pro-
Without the legal tender attachment. If
there is nothing the matter with silver except
the fact that it is debarred from the mints,
then free and unlimited coinage, without the
legal tender provision, would set it all right
and bring it to par. Gold would not suffer by
such q test: Your proposition would nauseate
him. Why? Because it is not coinage he is
after, but reputation by means OF legal ten
der law.
They propose two plans for forcing a debased
silver standard on the country. First, not al
low contracts for payment in gold. Second, if
this does not work, then reduce the gold in
gold dollar. With reference to the first plan,
maintaining the value Of money by legal en-
actment and penalties has been tried in most
countries and has proven an ignominious fail
ure in every instance. England tried it off and
on for nearly 500 years. France tried it for
centuries. The north tried it with greenbacks
and the south tried it with Confederate mon
ey. While it was death penalty in France to
refuse the assignats, they fell in value until 1t
took $36, 600 of them to buy 81 in specie. Eggs
must have been worth $500 apiece in asslgnats.
What pity our imitation friends could not
have lived there and then!
government can rob one part of its people
for the benefit of the other part as to existing
debts, but there its power ends. 1t cannot
make its people trade with each other. except
upon terms satisfactory to both parties to the
contract. If the money offered to the seller
does not suit him he does not sell. II offered
to laborer, he would need rest. If offered to
farmer for his produce, he would have only
enough for home consumption, until he found
man with better money, and SO 1T would be
all along the line. The proposal to take away
the right of contract shows that desperation
has usurped the seat of reason. We hold all
that we do hold by virtue of contract right.
1t is the bulwark of our liberty. 1t was for
this, above all things, that Magma Charta was
written. When surrender this supreme
right, we go back to barbarism and become
miserable puppets to every mob that may seize
the helm of state.
A New Counterfeit Device.
The other method suggested to bring about
parity of the metals is to reduce the gold In
q gold dollar. Our government has hitherto
manifested blind, unreasonlng prejudice
against that kind of craftsmanship. Indeed it
has had it's deputy marshals busy for 100 years
hunting misguided patriots who were trying
to take this near cut to wealth. If this sort of
bill ever passes congress, suggest as rider
to the bill that all convicted counterfeiters be
liberated and given right of action against the
government for false imprisonment. All gov
ernments have honored their pioneers, and
these men were but the forerunners-the John
the Baptists-of this new religion of debauch-
ment of our money.
republic rests entirely upon the morals OF
its people. The story of Washington and his
Ratchet, told by loving lips to innocent child
hood, has made millions Of truthful men and
women. What would be the effect in this
country upon unborn generations of story
like this: At the close Of the nineteenth CEN
fury the people of the United States became
SO corrupt they repudiated one-haf Of their
debts by paying them in money worth only
half of its face value.
An American in foreign land looks with 3
exyo1l;pp baart rpon Old Glory. aS if DrOud-