Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-09-03

as the increase Of population is &C.
cOrnpanied by q sill greater ratio OF
increase Of wealth and business, 1t
was thought that an immedlAte in
crease Of circulation might DO obtain
cd by large purchases Of silver bullion
10 an amount sufficient TO make good
tho retirement Of bank notes and keep
pace with the growth OF population.
Assuming that "a millions a year OF
additional currency is needed upon
this basis, that amount 10 provided
for in this bill by the issue OF treas
ury notes In exchange for bullion at
the market price,
III the United States then needed
more than AZ millions annually to
keep pace with population and busi-
ness ~ now, with larger population,
nsedg q still greater annual additions
and the United States is only one ma
ton among many. Our opponents
make no adequate provision for the
increasing money needs Of the world.
/ !; gold CONTRACTS ATTACKED.
I'm the second place q change in
the ratio la not necessary. Hostile
legislation has decreased the demand
for silver and lowered it's price when
measured by gold, while this same
hostile legiSlation, BY increasing tho
demand for gold, has raised the value
Of gold when measured by other
forms Of property. We are told that
the restoration Of bimstalliSm would
be . hardship upon those who have
entered into contracts payable in gold
coin, but this 10 o mistake. II will be
easier to obtain tho gold with which
to meet a gold contract, when most
Of the people can use silver, then II
10 now when everyone 10 trying to 90
cure gold.
}, 1.-THE Chicago platform expressly
declares in favor Of such Legislation
as may be necessary 70 prevent fol
the future the decentralization Of any
lind Of legal tender money by private
contract. Such contracts are object
, ed 10 on tho, ground that they are
against public policy. No one ones
tions the right OF legislatures TO Al
the rate Of interest which can be col
/ leCted by law, there is far more reason
) for the preventing Of private individ
usls from setting aside legal tendel
8 laws. The money which IL by lev
made q legal tender must in the or
. binary course Of business be accepted
4 by 90 out Of every 100 persons. VIII
4 should the Tooth man be permitted /,
0 exempt himself from the general rule
o Special contracts have o tendency y
0 increase the demand for particuls
0 kind Of money and thus force it to
|. premium. Have not tho people
O.. rightto.say that comparatively fev
j. individuals shall not DO permitted I
J. deEange the financial system Of Oh
d nation in order to COLLECT a premium
Q in case they succeed In forcing on
v kind Of money 20 Q premlumi
r SPEEDY LEGIsLAT1oN PROMISED.
q "There IS another argument TO whic
Il I ask your attention. Some Of th
more jealous opponents Of free sllve
NJ coinage point TO the fact that thil
70 teen months must elapse between th
:, seIeCtion and the first regular Sessio
d Of congress, and assert that durin
% that time, in case the people deClar
ir themselves IN favor Of free Coinsg
II oil loans will be withdrawn and q
mortgages foreCloSed. II these al
merely prophecies, INDUCED in b
a. those who have forgotten the pTovi
10 ions Of the constitution, il will be su
sr fClent TO remind them that the pres
81 dent is empowered 70 convene col
~ gress in extraordinary session whel
10 ever the public good requires sue
" action. If in November the peopl
Ut By their ballots, declare themselves
E. favor Of the immediate restoration
~ bimetallism, che system can be inauI
Of urated within few months.
D. IF, however, the assertion th
o. loans will DO withdrawn and NOR
u. cages foEeClosed is made to preveI
IN such political action as the Poop
q may believe TO be necessary for Il
n preservation Of their rIghtr, then
in new and vital issue is raised. Whe
Of ever is ia necessary for the people
w . whole TO obtain consent from Il
No. owners Of money and the changers