The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1896-10-24
Why GOLD
FAVORS THE RICH.
Its Value Is Constantly
AppreCiating.
To the Detrirnent of the
Producer.
Small Farmers of England
Wiped Out.
That Must Be the Final Re-
suit Here.
What the True Interests of the
Republic Demand.
What the True Interests of the
Republic Demand.

Degrees Of wealth cannot be regulated
by law. Wealth must be left, as nature
intended it, as the reward Of industry
and frugality. But there certainly
should be no laws especially favoring
the wealthy classes. Such a law, how
ever, most certainly exists in the act Of
1878 establishing the single gold stand
ard 1t favors the rich to the detri-
ment Of the producing classes because it
fastens upon us a growing or appreciat-
ing measure of values Every successive
nation which adopts the gold standard
increases the worlds demand for that
metal and by so much enhances its rela-
tive value. Every year, as the commerce
Of the world increases, the value of gold
augments. The dollar is ever becoming
larger and larger. The rich find it
greatly to their advantage, but it bears
heavily on the industrial classes
Enterprise requires that men should
borrow. No one can engage actively in
any business by which employment is
given to Others and the community ben
Gifted without being u borrower. Every
largely in dept. The gold standard dis
eliminates against this useful class
the active, enterprising, producing class
the backbone of the nation. 1t does
this because, i'll addition to the interest
paid, under All appreciatiug standar
the debt is ever growing larger. An ad
vantage is thus by law placed in the
hands of the money lenders and tho
great financiers, to the detriment of all
other classes.
Under this advantage the rich grow
richer with wonderful rapidity and the
active, producing classes, of course,
have to stand the burden. 1t was under
the operation of the gold standard i'll
England that the class of small farmers
was entirely wiped out and the lands
came into the possession of IA class of
wealthy capitalist holders, the former
owners becoming mere tenants Oh the
lands they once We're the proprietors of.
In the same way people i'll this country
will increasingly become tenants and so
depart the farther from the ideal condi-
ton of IA republic.
With stable money standard, or, if
it must vary at all, IA depreciating rath-
er than appreciating one, this advantage
to wealth ceases to exist, and the ninety
and nine average citizens prosper far
more i'll the aggregate than the one does
under the present system.
Tho true interests of the republic de-
mand not that wealth be equalized, but
that all be given more equal chance.
This the repeal of the act of 1878 and
the re.enactment of the coinage laws as
they existed prior to that year will very
greatly accomplish.
To illustrate the operation Of the ap.
preciating standard and the advantage
II works to the money lender, suppose
ten years ago two men to own $500
apiece. The one lends his money, the
other invests in property. The latter
buys house and lot for 81 900, pays
down the $500 he owns and borrows the
remainder from his friend upon mort
gage on his property. The money stand
ard doubles and the $500 debt becomes
as large as 81 900 was at the time the
loan was made. When it falls due, it
takes the entire property TO pay the debt.
The money lender then has everything,
the borrower nothing. This is an ex-
perience which every day some one suf-
fers. Every mortgage today requires the
entire property to satisfy it, because the
debt has doubled, not in the number of
the dollars, but III the relative value of
each dollar.
! If the money standard would remain
stationary where 1T is, it would not be
so bad, but we have no guarantee what
ever that it will not again double, and
nothing will tend so much to give it an
other upward boost as the success of
the gold ticket at the polls next month
We cannot see how it is possible for
gold not to further appreciate if its ad
vocatss triumph. If it does, it is inevi-
table that the hard times will be pro-
longed and intensified, failures in busi-
ness will multiply, labor will increas-
ingly be left unemployed, great poverty
will ensue, and when men grow desper-
ate from hunger riot and disorder will
threaten the peace of the country.
Meanwhile the syndicate which is
putting up millions to carry its purposes
i'll the present campaign will be recoup-
ing itself from the peoples treasury
with profits adequate to the risks it has
taken.
Can amy good citizen so disregard the
true interests of the republic as to cast
his vote for the perpetuation of the gold
standard?-Detroit Tribune.