Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-13

gold standard lut iur1u ant. Ole VIII Nu
| b. vain, becHuie savings hank dfposi-
tots know ihst uuiura gold standard
there is an Increasing danger that they
| may lose their deposits because Of In.
ability OF the bauks u collect thuif A.
seis. dnl they siill further know that
| % tho gold eta daf1 be- ~ couuI ne in
definitely they may no c0rnpsiIoI 10
withdraw 30 order 10 pay living ox.
ponsra.
"it BE- only necessary to note the IN.
cf1asining uumbef OF iHiiufes IN order
10 know that the GOLD standard a. fuin.
Qua 60 the merchants aud mAuufactuf.
efs. Thofo business men don't make
their profits from toe people from
whom they borrow money, but from
the people 10 whom thoY cell they se ]
their goods. II people cannot buy,
foinii1fs cannot sol, wholesale mtf.
chants and manufacturers must 20 into
bankruptcy
"rhose who hold a. permanent
Investment the stock ni railroads aud
VI other enterprises u DO not include
those who spccuIntr IN stick OF uta
stookholIings as means u obtaining
an inside advantage Boz construction
c1ntfacis) are Injured by gold stand.
ard. Tue rising dollar destroys tho
earning power Of these onlufpflsc.
without reducing thoH llnbililltf, and
ns interest and dividends cannot be-
paid, until salaries and 1xud chufgos
have brou satisfied, tho aiocHh0ldefs
must bear tue burden Of the hard
iimos.
"5aiarios IN business occupations DE-.
pond upon tho business condition.,
ami a gold standard both Lessons the
amount nnd the pcfmnuonuy OF such
salaries Onloial salaries, except the
salaries 0i those vino hold Office flt
lie, must 10 the long run BE- iluatcI
~ the conditions % those who Day
taxrs, ami 10 tho present h8nnuid
policy continues We must expect tlu
c0utolt between tho taxpayer aud the
taxesIct 90 Increase IN bitterness.
"rhe professional classrf, 10 the
main, receive their support from the
producing classoa, AMI only enjoy
prosperity when there IL " spUtly
among those who create wealth.
~ have not attempted 10 describe
the effect Of the gold standard on oil
classes; In fact, have only hal limo
10 mention lew, but each person Will
DO able 20 Apply the principle 10 hls
own occupation. 10 must also DO ~.
mombefrd that n l. tho desire " the
people generally to convert their earn.
Jugs Into real Or personal property.
THIS being true, cousidrnug any tenn.
pofaty advantage which may come
from system under which dollar
rises Ia its purchasing power, d must
not To forgotten that the dollar ga not
bay m0fn thon formerly unlusH proper.
" shall cell fof lea than formerly.
"a large portion VI those who lud
sons pucuulafy benefit in the gold
standard viii discover that their losses
eKcuul thuir gains.
cit " e0muiimUa asserted by our Oh.
ponontu that tue bhuas belongs 10 the
iatUr Glaze, but this la not true Of Any
solvent bank. Every statement UuI.
lished by any solvent bank shows She
ateuis UxcouI the liahllltlUi, thgi % %
cay, whilo the bank owes large
amount Of money 10 ~ drnositom, ID
not only has enough on hand In money
sud n0ltn To pay Ne duputitofs, but 10
addition thereto has enough 10 cover
iIs capital aud nufpluf. Whom thu
dollar IA rising In value slowly tanks
npy be- making short time iuanb and
inklng gOul security avoid luHfgt, but
when pflcOs are failing rapidly tauks |
arc apt 30 loss more btCausn OF bnI |
debts than they gain by tho ilCfcaslug
purchasing power OF the capital ana
surplus. IL must be- admitted, how.
ever, that some bankers combine TIE
business vi bond.hrpkam with lheir
Ofdiuafy banking business, and those
may make enough "a negotiations OF
loans % Offset the losses arising 10
legitimate banking business.
"AH long ~ human nature fumRlna
~ u ~ there will always be danger,
more OF loss restrained by public opln.
loo or legal enactment, that those who
20 pecunlaTy prltit Tor thUmsnlvos 10 a
certain condition may Yield 10 ttmpla.
ton 10 bring about that condition,
Jtiirrs1n has stated thAt one VI toe |
main duties Of government 10 10 pTc.
vent men from inluting one another,
Aud never was that uuty mup lm.
p1rtant than Il IL today. IL 10 not
strange that those wu1 have made
pront by iufuiuhing GOLD 10
tho government 10 tue hour OF
iiH extremity favor u financial policy
when viii keep tho government iIo.
pendent upon them, believe, how.
even thht 1 speak the continent u' a
vast mJurlty OF tho people Of the
unitcd States whom say Wise ilnar.
clnl policy, adminisiufcd 10 behalf OF
nll the people, would make our govern.
mont Independent Of any combination
OF hn1noltfs, foreign ana domestic.
uEsIFlrrD ~ 4 GOLD STANDARD.
"Lut nv gay wofI now Ia regard
10 certain pou0ns who afu pocuniafily
benefited uyfa gold standard auI VINO
iavot 70, not ir0m a desire 10 tfpspasa
upon tue rights u 0thtTs, but because !
0f circumstances which surround them