The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-04
ghe gatly Eagle: sunday orung October 4. 1896

when we come to a gold standard alone.
as they propose to do, and are doing,
and are now ON a gol6 basis, this great
and growing nation with its ever in
ere asing volume Of business, can expect
in time to come as in fhe past no more
increase Of money per poulation Than
twelve cents to each individual per an
mum. That is what you are limited to.
Tat gives the gold trusts OF the world
who have cornered gold and brought
other nations OF the world to a gold
standard a power to absorb all the
| wealth OF the world In time. They call
them an honest dollar. Let Us see.
| He says that everything has depre-
ctated because OF labor-saying ma
chinery and improvement IN all BRAN
the price Of things down. It II a little
singular that that has not applied to
gold. too. isn't it? (Applause.) A little
singular that gold is the only commo-
dity that should always advance, and
everything else go down. take 1t for
granted that all intelligent people under
stand 1t Is caused through the maniDu-
lations OF legislation the world over,
| bringing great countries TO gold stand
| ard, thereby demonetizing silver and
| other kinds Of money and endow1ng gold
| with the money functions. by legislating
| in the interest Of corporate greed the
| world over.
The gold consumed in the arts and
| sciences is but three million ounces a
| year. There Is $50 million ounces in ex-
| istence. Take away the money func-
| ton and throw it back upon the de-
| mand in the arts and manufactures, and
you have sixey years supply OF gold
| more than the world needs. II you had
sixty years supply of corn more than the
world needs. where would it go to? II
is the money function that gives gold
its value today and nothing else.
Now. let US see. He quotes some fig
as do about the old motto, that figures
won't lie. But then you know that liars
will figure. And 50 we have got to take
theset hings as we find them. To off,
set his figures about the decline Of
tbings.a nd that gold has not appre-
ciated, but that every thing else has
deprecated, We will take Mr.. Saur-
beck. very eminent English stanisti-
clan, who has figured upon these things.
He takes forty-five of the principle pro-
ducts OF labor for a period OF twenty
years in the London and Liverpool mar
ket, as compared with gold. He says
that prices have fallen in England be-
tween 1873 and 1888. 46 per cent. In
other words the purchasing power of
gold rose more than s. per cent There
fore you zee that 1t is the gold that has
gone up and not thep roducts that have
gone down
Mr.. Long didn't hold up the silver dol
lar and the gold dollar today. Hhe has
got them chained together. He is afraid
fha ynld Ioll
Europe. He also holds up two Mexican
dollars, and says he got them for 90
cents. What Goes that prove? Those
are not dollars here, but when they
came mere they were commodities, and
thhey are placed side by side with your
commo 1it;es. And they will purchase
as much of your commodities. commo-
dity for commodity. as they would TWEEN
~ years ago; but when you go to buy
tina. gold dollar he tells you It takes
twice as much. This makes more clear
than any remarks Of mine that gold
has appreciated above all these COM
mocities.
Now, Who made gold the universal
measure OF products Of labor? What
divine decree? Why should say that
gold alone will measure the product OF
my labor? That is a device Of human
ingenuity; of men VINO try to live upon
the toll OF others and scoop in the
wealth OF the world.
Let US see what dollar has cost the
people OF this country. The Manufac-
turer OF February 1. 1895. says that the
gold standard has presented the Eng
lish trade since 1880 with a gratuity Of
nearly $50 millions: also that the value
OF arm livestock in the United States
- ~r.il1
of dollars. Now. Mr.. Long win tell you
that you don't want to come down to
the same condition as Mexico. Strange
indeed that they should pick out one
little old Insignificant country like Mex
leo always, whose population has not
emerged yet from barbariszn. Yet I'M
der free coinage in Mexico they have
made most remarkable progress.
He says he stands for protection. but
we differ in regard to the kind OF pro-
lection A man can raise a four-year-
old steer in Mexico, and come to Kansas
City with it and get twenty dollars for
it in gold, and 60 back TO a brokers and
exchange that for forty dollars in silver.
with which he pays all his obligations
there for his steer. and you have TO sell
it for twenty dollars under the gold
sa tndsrd. That is the kind Of protec-
ton that is making Mexico one OF the
greatest little republics upon thu CONT
nent.
Let us see further. The United States
paid $50 million dollars OF her debt be-
tween 1870 and 1884. President Andrews
has shown that If We take the light COM |
nodities of beef. corn, wheat, oats pork, !
cotton. coal and bar iron. the deot was
80 per cen; grea ter after We had PAID
- hn-
est GOliar. sound n 'nSy.
Let US see some more. 1t il said that !
in 1866 We could have paid the national |
debt Of this country with fourteen mil |
lion bales of cotton. In 1884 it would |
have taken fifty-one mLlion TO pay |
what remained, although we had in |
the meantime paid eghty-four million |
bales in principal and interest since 1866. !!
We could have paid 1t with one million /
bushels of wheat. In the fall Of 1894 /
We still owed two million bushels. after /
paying five million bushels upon the /
debt. You call that an honest dollar.
There never was such robber dollar.
How did they do 1t? By changing the
contract; by increasing the purchasing !
power of the dollar: Embarrassing the
purchasing mower Of the unit Of that /
debt, they we're able to keep it greater
thar it was when W. first began
Now, Mr.. l.oEg says We don't pay
debts with produce; we don't pay debts
with wheat and corn and iron; we pay
them in revenue Do We? Well. who
pays the revenue? He says IL Is the for
eigner. We don't want 10 repudAte our
debt, MIR do we want some on else 10
pay Il for las that don't owe st. We want
to pay our debts, and that is what We
are grin. to do ] would not sneak OF
and make the foreigner pay them II
could.
am going tc quote you what an emf