Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1896-10-30

LEGERDElIAIN IN FINANCE.
In recent speech Major Mckinley
said:
We must get over the idea, my fellow
citizens, il we ever had it, that there is
any legerdemain in finances; that congress
by its mere breath can make something
out Of nothing; that it can decree that 50
cents worth of silver shall be worth 100
cents. 1t can protect the life and pro-
perty of citizens, as it should do; it can
provide revenue laws, which will make
the treasury easy and protect American
producers from the unrestrained compe-
tition of the old world. 1t could do that,
and it must do that. But it cannot by
its mere stamp make dollar worth 100
cents out Of piece of coin which sells in
every market Of the world for SO cents. J"
One almost loses confidence in the mem
tai integrity OF the Republican candi-
date when reading such ''rot" as that.
Especially in view OF the fact that he
once voted for free coinage, voted for the
"Windom Bill, . voted for the Sherman
Law" offered to vote for free coinage
again in 1890, and never uttered word
10 favor of the gold standard until since
his nomination for the presidency.
Major Mckinley knows perfectly we'll
that no silver saaan has ever claimed that
silver can be raised by any '.legerdemain"
whatever, or by the ''mere breath" Of the
government or its mere stamp"
There is no legerdemain about it,
The whole proposition resolves itself
into the simple one Of supply and de-
mand.'
When the government by law DEGREES
that silver may be coined into dollars
each one containing 3714 grains pure, or
4l24 grains standard, and that the dollars
thus coined shall be full legal tender for
all debts public and private, the effect is
to create ''use' for the silver that did
cot before exist. Not only q ''use," but
the most Important "use" to which any
substance can be put-tha of performing
the function of money.
While in the form Of bullion, there is
|eamparatlvely little use for silver. But
few people need it, and there is conse-
"quenNy but email demand for it. But
the moment 1T ls converted into ''money"
every body wants it, and all that he can
get Of 1t.
The silver dollar is q manufactured
article having uses and functions entire
ly different from and in addition to those
possessed to crude bullion.
The ''dollar' differs from the same
weight of bullion, exactly as any other
manufactured article differs from the
raw N naterial of which it is composed
-, for example, q car wheel from the
iron OF which it 10 made.
4 When foundry sells q car wheel, does
it 60 for the same price as an equal
weight of old iron. or new iron in an un-
worked state? Certainly not,
The coming is not in itself the thing
that gives value.
The stamp of the government is merely
the certificate of the government that the
coin is of the proper weight and fineness.
1t is the legal tender law that gives the
value.
Unless the dollar be made legal tender,
the stamp Of the government would do
no good. This is conclusively shown by
the case Of the trade dollar. That bore
the stamp Of the government and was u
grains heavier than the standard dollar.
But its value was less. 1t was the same
as so much bullion.
Major Mckinley knows these things
perfectly well. II he does not he has no
right to be presidential candidate. But
he does and his earlier speeches show it.
He is now simply trying to throw dust
into the eyes Of the people, and if his
conscience does not reproach him it can
only be because he has no conscience.
Tourist Car to California.
An upholstered Pullman tourist car 10
r,,n avorv wodnaodoy h1, tho Nor<horn