The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1896-09-18
A GOLDBUG'S REPLY.
The Best IT Could DO with IL Correspond.
cnt's Question.

The Best II Could DO with IL Correspond.
ent's Question.
A recent correspondent Of the New
York Evening Post asks this question
If its editor:
Tho demand for gold has greatly Increased
of Into Years, and no such increase has tulIon
place IN its production. Ergo it's absolute val
ue-i. g., it's vGuo measured In other cunmol.
itios--has in late years risen nnd will continue
TO rise. Given the foregoing BtGttmcn as
correct, it follows that tho gold standard will
bo unfair TO every debtor, for on the maturity
Of his loan he will be forced not only to re-
turn the sum borrowed nnd interest, but also
TO return some additional amount in value
representing tho rise in the value of gold in
tho interim.
l should he obliged If tho ablc writer who
has already disposed CT many financial falu
cics III your columns would briefly explain II
thig Is untrue.
This is the liable" reply of tho editor
of The Evening Post:
Tho assumption running through this arsu'
mont and constituting its warp nn0 wCof l.
that nftcr people have made contracts for dol
lars tho government ought 10 $50 70 IL that
when tho contracts pnturo the dollars shall be
worth neither more nor less than they were
when the contracts were Dlado. We arc not
prepared to say that such system might not
bo devised. We only sny TINT it has not yet
been devised and that in the absence Of sys-
tom wo must depend On chance or ON trial by
jury. Tho siivortcs themselves sny thnt II
ought not TO be left to chance. Yet trial by
Jury in every such case 10 inprncticablc. md
its costs would probably bo liko tboso in the
fable where tho monkey served as umpire be-
tween two claimants for u cheese, tho whole
of which passed down his own throat whilo he
was trying tO deal out eNnct Justice to the liti.
.s..A i. s1...N -. q L. ia
variety I'd 10 amount md duration, Tho vast.
ly greater part arc those which rum from dny
TO day, week 10 week, or month to month.
Tho debts Fottlcd at tho clearing housc today
arc what Tho bGuks owed onch other yostor.
day and what the banks tlopositoiS owed each
othor the day before. In order TO correct
supposed injustice affecting few contracts
dated 10 or 20 years ngo ii Is proposed to scale
every other drlt 30 per cent, including your
last week u washing bill. What kind of Justice
Ia thatT
Even this eminent champion of the
money power is seldom compelled TO 60
squirln and wriggle to dispose Of a
" financial fallacy." And yet he cannot
get away from the banks and bank de.
positors, whilo his point is THAT debts
arc Of intinito variety as to amount and
duration" So they are, and the point
is likewise that the chief injustice Of n
currency that is steadily rising in value
is rot from debts made and discharged
in few days, but in those that have
been running as many years, tho injus-
ticc bcing just 800 times greater to a
debtor Of years duration than to that
Of "A days duration. Whilo thero are
many debts that run for days or weeks
only, the real estate mortgage indebted
ness of the country is nearly $4, 000,-
600, 000 and it is this and not "debts
that banks owed each other yesterday"
nor last weeks laundry bill' that II
would bo unjust TO pay in M apprcciat.
ed currency.