Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1896-09-30


not ind the wherewithai to comfort his family
provide for his natural wants he a desperate
nan To say that he Is poor citizen but feebly
presses It Such condition creates q loss OF pride
When the information one accustomed to the
ownership Of home that he is lose that home after
Of toll and that information is conveyed
persons wife and family who have worked hard and
shared the tolls troubles father
and all this coming upon them in manner mex
painAble there comes with II sadness and dis
treas When tens OF thousands In distress multiplied
TITO hundreds OF thousands that general
feeling that comes II choroformng
eos had settled down upon the nation. In the midst
Of Il all hear the cry Of the creditor Pay in honest
dollars, maintain your credit people" The people
redoubie their energies. They all honest They want
20 do what right whether real seeming but the task
Of producing enough property to purchase the enhanced
dollar is too great and they finally surrender their pos
sessions into the hands of their creditors
The result is terrible in its consequences to the Amer
lean republic like selfish laws have been all former
republics. The bulletins show that tenanry
In this country is increasing alarming proportion
dspropordonate with the increase IN population, and
that those renting homes In the city Of New York
are now 04 per cent Of The whole-and this condition
rapidly sweeping westward
With this alarming increase in tenantry with foreign
creditors the of millions of OF our lands
and billions Of dollars of debts with alarming in
crease In the number of inmates In penitentaries
Jas and insane asylums, and alarming increase in
the number Of suicides dsprOporonate to the increase
In population all portendng the breaking down OF
civilization, what do the the other side of this
question say in reply to il?
THE ACT OF 1873
They say that the Band-Aison act of 1878 restored
che legal tender character Of the silver dollar
The answer Is this
That did open the minis debtors
option 1t nomInally legal character
Of the silver dollar but did do So 1t pro-
vided for Its legal tender except where otherwise pro-
vided In the contract" Such a provision delegated to
the individual to say what legal tender money,
whereas, before the government had dictated what
legal tender and provided for it from both metals The
Of 1873 taken advantage Of by money lender
" food the country with notes, mortgages
payable In gold and since then billions dollars of our
debts have become payable in gold money by written
contracts. The OF 1873 carried 1873 from
statutory law into the written the country
They afraid the OF 1873 might be repealed and
they wished to cloak themselves under the constitutional
provision providing against the impairment obl
CATION OF contracts The act OF 1873 act
Of 1873 The debtor as arue has nothing to say when
executing note The creditor q rule can dictate the
terms Of the note. The act OF 1873 though
presumably restoring the legal tender silver gave to
the creditor the option to which OF the moneys
he to be paid in When the creditor option he
demands the dearer of the metals the dearer it
gets the more apt he is to demand It, This forces the
commercial parity OF the two metals apart whereas be-
fore 1873 the debtor had the option gave to the weaker
metal, If either was, and thus maintained them at a
parity.
LARGE COINAGE OF SILVER.
They say there has larger coinage of silver since
1873 than ever before.
The answer is this: Under redemption monetary sys
tem the quantity of representative money issued should
not exceed in volume the quantity redemption money
n the country Not In the national treasury but in the
nation, among the people; for it is presumed the
government needs It, it can borrow it from its citizens
When nation borrows from the people of foreign
tion 1t Is only question of time if long continued when
u Will cease to exist as such nation. (Applause)
When dispropOrtiOnate quantity of representative
money is Issued it shakes confidence in the ability of
the government to redeem It, and general confusion and
unSoundness may be given to financial system thereby
So, that when silver reduced position of rep
reSentatve money the issue of any quantity in the
form OF representative money had effect building I'D
stock Of primary money. Since 1873 the government
has purchased silver and coined it into
money There is no judgment displayed in buying a
costly metal to coin token representative money
IL would answer the same purpose to coin token
money from lead, tin, nickel, other substance So
long is redeemabe in gold made subsidiary to
gold the Issuance or any quantity of will not restore
the foundation of our financial system. (ApplauseD
EXPLOITATION OF SILVER AND GOLD.
They that under blmetallsm, when there diff
ference in the commercial parity of the at the
legal ratio, of two three cent the cheaper
metal will take the place Of the dearer and the
latter will be exported foreign countries
The to that Is this If debt to for
sgn countries at such time 1t is most of our
ailver at a premium OF three per over gold as it
was just prior 1873 is shipped to foreign countries in
exchange for gold at three per cent premium the
gold il added to stock of metallic money But
this does not lessen the quantity of metallic money in
this country but the contrary increases it by
three per premium obtained for silver. Where
prior 1873 received from foreign countries
Der cent premium silver, selling
foreign countries at 30 per cent discount Q4Ong ap
pause) Last year sold to foreign countries free
coinage valuation $5OO0OO0 worth Of silver for about
4SSOOOO00 whereas under blmetallc conditions QS72
We would have received about ST, 100000 for 1t.
II In debt to foreign nations after exchange
of products-a balancing OF exports and importswe set
llo with them In gold silver Under bmetallism
ship them In settlement the dearer metal IL either
and keep the other metal for own money
Either purpose for primary money. Under
these conditions prior 1873 when gold the dearer
We shipped them our gold. and when silver the
dearer, 1t just prior to 1873, at premium of
per cent. shipped them silver. and with each
dollar shipped, settled q dollar and three worth