The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-14
PRINCIPALLY a LIE.


Sun as saying that a double standard
of money is impossible but that ol-
metallic system is possible. Ii Inc
commercial ratio is correct we cannot
see why a double standard would not
be possible and without difficulty. But
by whatever name, the producer and
laboring men Of this country are de-
handing the full use Of silver, that If
either metal must be Disseminated
against it ought to be the one that
there is the least of, and that is the
most easily carried by combinations.
This leads US to a glazing contra
diction daily INDUCED in by single gold
standard writers and speakers who
say to the wage-earner that the free
coinage Of silver would result in such
an imitation of prices as would reduce
the purchasing power Of the dollar and
then turning about to the farmers de-
claring that the opening Of the minis
to silver would result in such sud
den contration Of currency as would
lower the prices Of farm products.
These fellows are either lying or other
wise they don't know what they are
talking about. They ask us TO be-
lieYe that the opening of the minis
to silver would result in forcing upon
the wage-earner a cheap dollar and
upon the farmer a dear dollar. Both
propositions cannot be true. Any man
can see that the free and unlimited
coinage Of silver would by increasing
the volume of sound or redemption
money of the country enhance the
prices Of everything Of every charac-
ter, including farm products and
wages not only, but of every other
value as we'll The New York World
stated the other day that the silver
dollar of today, if free coined would be
worth only 30 cents, would buy only
81 cents worth of anything, and that
the laborer would be cheated practic-
ally out of one-half of his due, but
then went right on to say that free sill
yer in driving out gold would cut the
volume of currency down by one-half,
and that instead Of having $2,000,000
900 circulation we would have only ST.
0O0, 100000 and that Of silver. What
would become of the gold the World
doesn't say, further than it would leave
the country. Supposedly it would be
gathered up by CleYeland's syndicate,
carried across the ocean and be scat
tered 10 the paupers about the streets
of Europe just for the fun Of the thing.
If it was held in the vaults of the syn
dicate it would still be in the country,
and unless they used it as money,
would prove idle and improbable.
In the next place there is no such
sum as two billions of currency in this
country. No statement OF the treas
ury or Of the banks show any such
sum. But there ought to be to meet
the demands of business, of develop
ment and Of enterprise. The treas
ury statements show $3.50, ,0S2 all
told, including $454, 225,656 in gold and
S237, 3349, 3S1 in greenbacks, not deduct
ing all the greenbacks destroyed, lost
and burned in thirty years, S1,000,000
going up in the Chicago fire of 1871 at
one time. Experts estimate that there
is in circulation not to exceed $1,000,
100000 Of all kinds Of money in this
country, and that the gold circulation
is not one-half that given in the treas
ury statements.
To get down to a common Sense view,
the free coinage Of silver would in
crease not diminish the volume of cur
rency. Contraction from the expul-
sion of gold is only an assertion and
nonsense. The expulsion of our gold
before silver could be coined to take its
place would result In an imitation in
Europe, which would raise prices there
and force them down in America, leav-
ing America the best market for Eu-
rope TO buy IN, and so the gold would
flow back. All this would prove self
regulating, reciprOcally so. OF course
the demand for silver would be i'm
mensely stimulated and silver would
so up as gold fell In short, as the
Philadelphia American puts it: The
result would be that to receive the
same silver price as now, silver-using
peoples would have TO ask more in |
gold. Consequently gold prices would |
rise, the market for our cotton and |
grain would broaden, and at the same
time we would get better prices. The |
agricultural products we export would !
go further in settlement of interest on |
our foreign Indebtedness. the balance !
OF trade would accumulate in our |
favor, and the tendency of gold would |
be To flow towards, not away from |
our shores"
AN INDIAN OUTRAGE.
Whether the Indian has been right |