The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1896-10-09
WHAT IN Approaching ST1ND-
ARD MEANS.

ELECTION TUESDAY, NOVEMBER B. 1896.
WHAT IN 4T'I'RECIiTING ST1ND-
ARD MEANS
An approaching standard means Il
continual lowering of prices. 1t
means a scarcity of the standard
money. 1t means boarding of money
for moneys sake, holding it for the
premium at which it can finally be
disposed of. 1t means more, it means
the constant increase in the volume OF
q debt. for as this money standard
becomes more and more valuable, 1t
requires so much more toll. or so many
more bushels of wheat, or so many
more manufactured articles to pay so
many dollars of debt.
The capitalists say, let the stand
ard grow dearer and dearer. The
creditor class says, if by legislation
YOU decrease the money standard and
place it on the plane it was ten years
ago, then you are repudiatins debts,
and robbing us. We hear much
about campaign of honesty and
horror as against dishonesty and re-
quotation. But let the present APP
probation of gold continue, and in
the course of ten years more, the
debts of the debtor class will require
twice as many bushels of wheat or
cora or oats, or twice as much labor
and toll, TO discharge them as is re-
quired to-day, and to-day it requires
nea rly twice as much of nearly all the
staple products OF agriculture or COM
meIce to discharge one hundred dol
lars debt as it did to discharge one
huI ired dollars debt twelve or fifteen
years ago.
All things in economics are of a
gradual growth. This gradual rising
of the gold standard in value and
purchasing power has been good
thing for those favored few who can
get as many dollars today as they
could u decade of years ago, and who
will continue to get just so many dol
lars, no matter how hard the times
become. But to the man who went
into debt i'll order to start business or
for any other reason, or to those who
by reason of the present stringency of
money have been thrown out of EN-
plovment entirely, to all such this APP
probation of the gold standard comes
as thief in the night, gradually TAX
ing from them their substance and
their living.
With, what boastful pride the Re-
publicans and Mckinley Democrats"
point to England and say, see her to-
day. the proud mistress of the COM
mercial world. Her ships ply on
every ocean, her money develops
mines and railroads the world over.
She is the banking center of nations,
and London is the worlds clearing
house. If England can prosper under
the gold standard, we should be able
to prosper under the gold standard.
What has made her great, will make
us her close rival. But just here Is
where they beg the whole question.
England is to-day the creditor nation
of the globe. She is not, perhaps the
nation of millonaires, but she is the
millionaire nation. Her credits stand
against every nation to-day. Why
should not an approaching standard
be blessing to her.
As for the individual creditor an
approaching standard is continual
infiowing of money, so for the creditor
nation it is constantly pouring wealth
into her Golfers.
1t ives in the year 1892, just before
the international Monetary Confer
ence at Brussels, that the eminent
German philosopher, DR.. Soetbeer
said II fear that if the English Gov
eminent on the occasion of the forth
com ug International Monetary Con-
ference, should refuse to submit or
support practical propositions des-
tined to extend considerably the use
silve. as legal tender, there will pro-
badly result IL further incalculable
depreciation in value of the metal
and u Gerry serious appreciation of
goH folloUed by disastrous colSe-
gueHceS."
Tie fears and doubts of the German
philosopher have been fully realized.
He l. new too we'll that England, as a
cred tor nation, would welcome eager
ally any appreciation in the gold
standard. And yet the supporters of
McE inley say that in order to have
SCUM 1 money we must bond our gov
ernne nt to England or local syndi
cate, in order to maintain and foster
this approaching standard that is
proving IL mint of wealth to England.
1t IS to be observed that while this
apples to the English government, it
does not apply to English individual
industry and individual enterprise.
The English debtors are no better off
under the approaching standard than
their fellow debtors wherever that
standard obtains.
One of the greatest men ana bright
est minds of Europe, Sir James Bal
four. said just four years ago: But
of all conceivable systems of currency
that system is assuredly the worst
which gives you II standard steadily,
continuously, nitelyappreciating
and which by that very fact, throws
a burden upon every man OF enter
prise, upon every man who desires to
promote the agricultural or the iu-
.dustral resources Of the country, and
benefits no human being whatever
but the owner of fixed debts III gold
Sir James Balfour is to-day the head
OF the Conservative Parry in England
Is the above the declaration of II
popIlistic enthusiast. as The gold
standard Iuen denoninate all who
will not fall down aud worship the
golden calf? Is that ''aouorous lie
clamltiOn, based on fundamental
niscouception of facts"
How would Mr. BDurke Cochran
class Mr. Wharton Barker, OF Phila-
delphia. one of the ablest economists
of the United States, who said ord.
last january: For the fact that
Agricultural DrodnctS have tiiipp