The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-10-17
REAL ESTATE AND FREE SILVER
How the Gold Standard Depresses
Fnrm and City PrOperty.

Farm ana CITY property
Detroit Tribune: Every man who owns
a foot of ground properly belongs in the
silver ranks.
Why?
Because the operation of the gold stand
ard in connection with the speculation
which always attends an increasing de-
mand for an article, as gold in this in
stance, is to cause a steady depreciation
in the value of all other property and
notably in real estate values
The depreciation is not the result of
previously inflated prices, nor is it only
temporary and to be soon recovered
from No protective tariff can help real
estate. The cause of the decline is the
enhancement of the money standard,
and nothing but the restoration of the
old measure of values can again restore
the old figures.
The man who five years ago owned a
farm or a city lot worth $4,000, II com
PEELED to sell it today finds that he can
get but $1,000 for it. Real estate, in
common with silver, wheat and every
thing else except money and credits, has
shrunk to one-half it's former value. 1t
10 not really that the property is less
valuable than formerly, but the value is
measured by dollars of twice the purchas-
ing power. We defy anyone to show an
instance when at a forced sale property
has brought over half what 1T was for
merly valued at. Every acre and foot
of ground has deprecated in value one
half.
If there is a mortgage for 5000 on
the $4,000 piece of property. it now in
variably takes the whole property to
satisfy the mortgage. In this way all
the mortgaged property in the country
is in process of passing into the hands
of the money lender.
II the gold standard is perpetuated
gold must continue still further to ad-
vance and property continue relatively
to still further decline. The $4,000 farm
or lot will further shrink in value to
$500. and perhaps even less. If there is
no debt upon it. the owner is simply
made poorer; il there is a debt. he is
entirely wiped out. This is the inevita-
BILE consequence OF a steady appreciat
/ ing standard.
The logical tendency of the sold stand
ard, threfore Is towards the concentra
ton of all the lands into the possession
of the wealthy classes as we see 1t in En-
gland. The property will be held Il
large estates, while the former owners
| will become mere tenants. We shall thus
be drifting into the ways of the old world
1 and shall see grow up a landed proprie
| tor class such as exists in England. Al
! the land in the district of Pimlico ant
| Belgravia in London is the private prop
cray of the duke of Westminster, al
the Bloomsbury district that of the dulS
OF Bedford, and so with other sections
1t is a very common thing in that coun
try for a whole town to belong to on
proprietor.
In France the land is divided up int
small holdings, and the condition of tn
people IS notably better than in England
If the government wants a loan OF
hundred millions it can always look I
the small farmers to furnish it. 1t doe
not have to go to the Rothschilds fo
money. The happy condition in thi
country would be for every citizen to /
land owner. This, cheaper money, {
IL you please, depreciating rather tina
approaching money. will tend to pr
mote.
OF course if the people prefer the gol
standard with all it's concomitants q
we see them in England, it is their priv
lege to have them, but it is unrepublica
and subversive of the true interests
the republic.
! How any real estate owner can be a
advocate Of a system which destroy
the value of his property is inconceivi
BILE. 1t is easy to understand how OF
whose capital is in the form of money
: credits should prefer a money standal
, which is steadily advancing, but ever
/ one who owns property of any 9th
o. class, whether mortgaged or not, b
- longs logically to the silver side.