The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-13
THE PILL THAT WILL.

per annurn. it would require s42,000,00o
increased circulation each year 10 keep
pace with the increase in population;
but as the increase in population is ac-
companied by still greater rate of in
crease of wealth and business, IT was
thought that an immediate increase of
circulation might be obtained by larger
purchases of silver bullion to an amount
sufficient to make good the retirement
of bank notes and keep pace with the
growth of population Assuming that
So 900 900 a year of additional circula-
tim is needed upon this basis. That
amount is provided for in the bill. by
the issue OF treasury notes in exchange
for bullion at the market price
My friends, he says we need an in
crease of something like $50, 00O, 600 per
year, and yet, instead Of having an an
nual increase of s50000.0O0 a year, in
the last ewo years We have a decrease
of about s155, 100000, (Applause) max
ing deficit of about S2J5, 900, 600 in the
currency of the country. Now, if Air.
Sherman did right in 1873 in saying
that the people needed new money
every year, my friends, 1 want to ask
you why it is that the Republican party
in the face of the constant decrease in
the circulation of money, has made no
provision whaever to satisfy the needs
Of an increased population Great ap-
plause)
FEARS MORE CONTR
when we talk about these matters
our opponents tell US that we do not
understand finances. daughter and ap-
Iplause) My friends, we understand
that a man does not have to understand
a nation that requires an increase in
circulation must suffer If, instead of an
increase, 1t has a decrease in circula-
ton. ApplaUse.) Not only does the
Republican party make no provision for
an increase of the currency to meet the
needs OF the people but the Republican
party has been silent in regard TO the
manner in which this currency has
been contracted. IF the Republican
party succeeds, we have every. reason
to believe that the Rpublican admins
tT'ation will follow the example set by
previous administrations and followed
by the Democratic administration. and
go into contracting the currency in
stead Increasing it (Applause)
HENRY CIAY'S WORDS.
NOW. my friends, want TO read you
what one OF the great statesmen in the
country said in regard to the effort of
the decrease in currency. If they viii
not take our word for it, If they say
that we are too young and don't know
enough about it daughter and ap-
plause.), 1 say if none of those who. are
living now are to be accepted as au-
thortiy let meTead from one whose name
1lumines the pages of American history.
Henry Clay spoke on this subject away
back in 40 Let me quote what he said:
I or all conditions of society, that Is,
most averse mwfich there is a constant
and rapid elimination of the amount Of
the circulating medium; debtors become
unable TO pay their debts property falls
the market is glutted, business declines
and tabor Is thrown out OF employment
With such @ state of things, the imags-
naion goes ahead of the realty. Sellers
become numerous from the apprehen-
sion that their property now falling will
fan still lower, and purchasers scarce
from an unwiilingness TO make invest
ments with the hazard Of almost GER
tain loss I have already stated that
the country Is borne down by a weight
OF debt If the currency be greatly d.
unfinished, as beyond all example il has
been, how is this debt 10 be extinguish-
ed? Property, the resource of the debt
or relied upon for his payment, Will de-
cline in value, and II may happen that
a man. who honestly contracts debts on
the face of the property which had
value at the time fully adequate 10
warrant the debt, VIII find himself
stripped Of all his property, and his
debt remain uneNtinguished.'
MAKING DOLLARS DEAR
These words state the great prin-
ciple that is as true today as when be
uttered those words. If We decrease
the amount OF money. we make dollars
dearer and properly cheap, and il We
make property cheap without reducing
the debt that hangs over the property,
We eNtinguish the equity OF redemD-
ton and summon the sheriff 10 take
charge OF the property IN the interest Of
the creditor. Great applause.)
| The very condition which Henry
Clay described as following 4 contrac-
ton Of the currency, THAI very condi-
! ton We see today. We find the contrac-
/ ton OF the currency shown by the re-
ports 81 the treasury department. We
/ ind property failing in value. We dnG
labor out OF employment; We ind bust
ness paIalyzei: we ind thar men do not
want - invest ln property for fear they
viii lose; everybody wants 10 invest n
money, because money is the only thing
that IS rising.
ECHO ANSWERS: MT.
This. my friends, : the condition
which confuo1ts Us Have We not G
right 70 look this coIditica n ~ Iacee
/ We demand Of our opponents an ans
wer 70 tais question: Row are you go
| ing 70 provide what thu people need
They propose 10 plan. Way not2 Be
cause the policies OF the Republican
party are dominated by Wall street.
where they Go not want money plenty.
| (ApplauseD Not only are their policies
| dominated by Wall S.rset. but, my
friends. they are not wiling even 10 seg
| Wall street have the final say, because
they make in their platform the decla--
alton that We mus. 20 acoss the ocean