The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-21

says. He proceeds with the assertion
that Republicans have always been for
the free and unlimited coinase of silver
up to this year II that were true and
the Democrats were also in favor of Il it,
how does it happen that the hateful gold
standard has been affecting this country
since 1873? Isn't it strange that IL both
the great parties favored free coinage all
these years that the existing standard"
should be gold?
Aagain he says. not an argument used
in favor OF gold and against silver is new.
that they are all manufactured 10 order
by Wall street and sent out here 10 fool
people. This in the face OF the fact that
when gold and silver are coined on any
ratio but the market ratio the cheaper
drives the dearer out OF circulation: that
applied to the present proposition to coin
ket rules 50 TO /. all our stock OF gold
money would go out, which fact IS based
upon experience so abundant that the
abiest free coinage advocates do not pre-
tend TO dispute It. and was proclaimed by
Copernicas. Newton and Locke and all the
standard writers of political economy for
centuries. Instead of being new the ar
gument on the gold standard side are old.
The logic OF Newton and Locke two hun
bred years ago would fit the situation to-
Gay. Then it was the silver standard.
Now it Is the gold standard: but in both
cases ii is the impossibility of the law TO
create value by fiat, to make things IN
equal in value in the market. to have the
~, in ,1+
minds said IL csould not be done. Martin
Gays il can. Which would better be be-
Ieved. Sir Isaac Newton of the world, or
John Martin of Topeka?
Aagain Martin says that law and only
law makes money, and that the legal ten
der fiat that it shall be received in pay
nent of debt, public ard private, gives 1t
lis value and the man who doesn't know
that is not fit TO represent any people IN
congress. This is purely the fiat theory
o: money ana at the fourdaion of his s:i-
Yer question may be found the fiat theory
of mopey. If fiat makes money why fool
with either gold or silver? There Is not
enough OF both 'to do business on a cash
basis" why not have paper? BY reference
TO statistics Martin will find 800 millions
OF legal tender silver circulating in silver
countries and 4. 80 millions of gold in gold
countries and tina the value of silver Gr
gold money in either case is the bullion
value OF either metal wholly irdepen lent
of lgal tender fiat. The value of money
in both cases is fixed in the market and
not by law and the man who does not
know this does not know enough to repre-
sent Kansas in the United States senate.
Again Martin claims his party has been
for the free and unlimited coinage of sill
yer. He must remember that on Feb.
a. 1885, Grover Cleveland, president-elect,
wrote a letter to A. J. Warner president
Of the Timetable league not only against
free coinage. but in favor OF the imme-
date repeal of the limited coinage under
the Bland-Allison act of two millions
month; that as president, Cleveland
recommended this policy in at least two
public messages; that the attention of the
public was called to this fact; that Cleve-
land was the enemy of even limited coin
age OF silver; II was referred to in the Re-
publican platform of 1883 and in the Repub
lican text book of that year. Notwith-
standing Cleveland was known TO be the
most pronounced anu-silYer man in pub
lie l:fe. and was beaten in New York in
his canvass for the Democratic nominal
ton in 1892, the people outside the state,
the Democrats of Kansas of whom John
Martin was one, mustered votes enough
in that year to nominate this greatest of
gold bugs for the presidency. Kansas
cast her twenty votes for Grover Cleye-
land knowing that he was 4 more urcom-
promising gold standard man than John
Sherman. He was elected upon the fun
knowledge of his radical views for tho
'single standard" upon a platform pleds-
ed TO do two things: First. 20 destroy the
protective policy-of taariff. advocated by
the Republican party; second to repeal
The sherman law. SO called, because "a
cowardly makeshift'' The Democrats
controlled all branhes of the government
and were fully responsible for legislation.
Trey are now unable 10 say whether the
present business paralysis IS due TO tariff
Hesitation or the repeal of the Sherman
law as per toe promise of the platform of
$50, They are rather inclined to think
it is on account of the Sherman repeal bill
for the Republicans helped them carry
cut this promise and not anti-protection
legislation. for they solemnly swear they
have never kept their promise on the
tariff.
II must be pleasant thing for John Mar
tin 70 make campaign-he has such
taste for fiction.
OKLAHOMA OUTLINES.