Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-09-17

would rightfully claim the advance as due
to the short crep. One-half of our money
has beer practically destroyed by legis-
lation, and the other half has doubled in
value. The advocates of bimetallism ask
to have the other half restored by legisla-
tion, thus doubling the amount of real
money, sound money, and by the same
law OF supply and demand reducing its
value one-half, as measured by the prod
ucts of labor. Very few farmers or
laborers are going to be paralyzsd or
hypnotized by your 50-cent dollar theory;
for they see in the near future bank
ruptcy and destitution approaching their
homes with gigantic strides, which they
can not check under the gold standard.
Do not crush the farmer, for upon him
rests every other industry in our country,
even including stock and grain gam bling,
trusts, combines and all other monopo-
lies.
The 5O-cent dollar idea is held up to
the vision of wage-earners in all the tints
of the rainbow, but if the laboring men
and women of the United States possess
the intelligence that I give them credit
for no ooloring to such false and un-
tenable theory can blind their judgement
or induce them to vote for the gold
standard.
!, That snHexlble law OF supply and de-
maud is in evidence in the labor ques-
tion, Just as in the wheat and money
proposition. If you cripple the farmer
by low prices he must stop employing
labor. If the farmer is unable to buy
manufactured goods the manufacturer
can not employ labor. If the merchants
can not sell goods they can not employ
clerks. If railroads and other avenues OF
trans portation are unable to obtain
freight and passengers on account of low
prices for products and the poverty of
the producers then they must curtail
their ex penses and therefore will reduce
to the minimum the number of their en-
ployes.
The first question in which the wage
Garner is interested is, "Can get en-
ploymentf" and secondly, "What. will the
wages be?" The tens of thousands of
idle men to-day will be increased to hun
dreds of thousands in very short time if
the farming and other industries of the
country are to continue to be crippled by
the gold standard and inevitable low
prices for their products.
What consummate sophistry is the
claim of our gold standard friends, who
try to impress upon the wsge-earners as
fact that they will have to pay twice as
much for everything they buy if bimetal-
lism is adopted, thereby admitting that
the employers of labor will receive 80
under the bimetallic standard, instead of
81 as under the gold standard, and that
wages will remain the same for long
time at least. II this position is taken
under the belief that the laborers of this
country can be led to believe it, its advo-
Gates show objectionable ignorance of
the intelligence our laborers possess.
If bimetallism shall be established and
prices advance, as admitted by gold
standard advocates, producers and manu-
facturers, employers of labor will be
prosperous and will gladly share their
prosperity with their employees; and as
labor will be in demand any man or cor
poration who refuses to share his pros
perity will soon learn that his employees
are capable of protecting their own
rights.
The whole trend of the gold standard
theory ia to make low prices to produc-
ers and manufacturers, thereby sRpping
the foundation upon which the prosper
ity of the people must rest. This can
but result in placing labor at the mercy
of capital to an extent that will not be
tolerated by the intelligent working
classes of this country. Especially is this
90, when the purpose is merely to please
and to be in harmony with certain other
nations and to double the holdings of
capitalists, taking it from the people by
reducing the supply of redemption money
sound money, real money-one half.
If the single standard could become a
fixed fact in this country to-day, the en-
tire amount Of redemption money--gold
within our borders would not exceed
300,OO0,OOO. Suppose it to be 100000
600. All well.informed men will admit
that at least $2O0, 100000 Of our gold coin
is in foreign countries or destroyed.
Under the single standard ell other forms
of money, including silver, would be rep
resentative money, redeemable in gold.
And this is called sound money! How
long can the government continue to re-
deem the representative money with the
$400, 100000 supply of gold in the coun-
tryi It is necessary only to look at the
history of the last year to see that the
gold reserve is melting away, and will
continue to do so, like the mountain
SHOWS under the rays of July sun. No
argument can disprove it; no tariff can
prevent it; the only stay to it's progress
is more borrowing, as long as money
lenders shall consider it to their interest
to purchase our bonds.
Single standard advocates proclaim
with great vehemence to the farmer, the
wage.esrner and the manufacturer; "You
are paid for you products and labor with
the best money in the world" Yes, it il
good, but too expensive.
Suppose farmer has large amount
of land and personal property, and small
amount of money. To carry on his farm
he borrows: At the end of the year be
dnds 1t necessary to charge to profit and
loss large deficit, neoessitating more
borrowing. few years with like results
will place him in similar condition te
that Of the United States government to
day. .
| Bimetallists want cheaper money, made
so by free coinage, and sounder money
made so by the increased volume of tn,
money Of redemption.
O. A. HADLEY.
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