Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-08-20


makes a nearer approach to stability,
to honesty, to justice than q gold
standard possibly can,
Prior to 1873, when there we're
enough open minis to permit all the
gold and silver available for coinage
to find entrance into the worlds
volume Of standard money, the Unit
ed States might have maintained a
gold standard with less injury to the
people of this country, but now, when
each step toward universal gold
standard enhances the purchasing
power of gold, depresses prices and
transfers to the pockets Of the credit
or class an unearned increment, the
influence Of this great nation must be
thrown upon the side of gold unless
we are prepared to accept the natural
and legitimate consequences of such
an act,
THE GELD CAMPAIGNS RESULT.
ANY Legislation which lessons the
worlds stock Of standard money in
creases the exchangeable value Of the
dollar; therefore the crusade against
silver must inevitably raise the pur-
chasing power of money and lower
the money value of all other forms of
property.
"Our opponents sometimes admit
that it was a mistake to demonetize
silver, but insist that we should SUBJ
NIT to present conditions rather than
return to the bimetallic system. They
err in supposlng that we have reach
ed the end of the evil results Of a
gold standard we have not reached
the end, The injury is a continuing
one, and no person can say how long
the world is to suffer from the at
tempt to make gold the only standard
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 countries, and each new convert
to the gold standard will add to the
general distress. SO long as the scram-
bic for gold continues, prices must
fall, and o general fall in prices is but
another definition of hard times.
"Onr opponents, while claiming en-
tire disinterestedness for Themselves,
have appealed TO the selfshness Of
nearly every class of society. Recog-
nizing the disposition of the indlvid-
ual voter to consider the effect Of any
proposed Legislation upon himself, we
present to the American people the
financial policy outlined in the Chica-
go platform, believing that it will re-
suit in the greatest good to the great
est number. e.
EFFECTS ON FARMERS AND LABoRERs.
1.-THE farmers are opposed 10 the
gold standard because they have felt
its effects. Since they sell at whole
sale 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
perceptibly decreased, although it re-
quires more farm products now than
formerly to secure the money with
which to pay taxes. Debts have not
fallen. The farmer who owed 81, 1000
is still compelled to pay $1,000, al
though 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 farm
or has thus found complaint against
the gold standard. -
"Ihe wage earners have been in
iured by gold standard and have
expressed themselves upon the sub
ect with great emphasis. In Febru-
AIRY, 1895, petition asking tor the
immediate restoration OF the free and
unlimited coinage of gold and silver
at 16 to l WAS signed by the represen-
tatives of all, or nearly all, the lead
ing labor organizations, and present
ed to congress. Wage-earners knew
that while a gold standard raises the
purchasing power Of the dollar it also
makes it more difficult to obtain pos
session OF the dollar; they knew that
employment is less permanent, loss Of
work more probable and re-employ.
ment less certain. A gold standard
encourages Che boarding Of money be-
cause money is risipgj it also dis
courages enterprise and paralyzes IN
dnstry. On the other hand, there's
toration of bimetallism will discourage
boarding, because when prices are
steady or rising, money cannot afford
TO lie idle in the bank vaults.
ANSWERING VARIOUS ATTACKS.
"The farmers and wsge-earnersa to-
gether constitute considerable major
ity of the people Of the country. Why
should their interests be ignored in
considering financial legislation9 A
monetary system which is pecuniarlly
advantageous to a few syndicates has
far less to commend it than a system
which would give hope and ehcour-
l.. ~.