The herald., 1896-07-12
then ADDS: "when,I am paid Saturday

| Inen 00QSs WueH1 anl palQ OdtuEuuy
| I know what am getting and what 1t
will buy. don't care to give gold
| dollars worth of labor and receive a So
cent silver dollar for it." Indeed, and
| yet Mr.. Sumwalts laborer declares that
he is paid in gold, silver and paper
money" at the present time. Why does
he receive 50-cent silver dollars and
five-cent paper dollars for gold dollars
worth Of work? Is it not fact that he
can buy as much with his silver and pa
| per dollars as with his gold? For this
I reason he accepts them. does he not?
Money Is simply a medium OF ex-
change. This is conceded by all. Then
| il one kind of dollar will buy as much as
another why is it not as good. The IN
! trinslc value of a paper dollar is noth-
ing. The paper in a $50 bill costs no more
than the paper in a 81 bill. For the
parchment used by the government IN
making $4,000 in $100 notes the cost would
not exceed 81. And yet. $4,000 gold coin
will not buy more Of the necessaries OF
| life. pay more Indebtedness nor add
more to your bank account than $5O00
! in government notes.
If, as Is stated by Mr.. Sumwalts gold
dollar laborer.- and the coterie of gold
advocates everywhere. the silver dollars
now afloat are worth but 30 cents, ought
| not the government to call them In ana
stop the coining of them? The fact Is
| that every American dollar now afioat
-
worth of goods, whether 1t be OF gold.
silver or paper. Any man who will de-
| mand the protection Of the American
flag and at the same time refuses to
recognize the American dollar Is very
| inconsistent citizen.
We cannot understand how thought
full person can be misled by such asser-
tions as are made by the gold advocates
The following figures, which are PROB
ably as accurate as 1t is possible to get
them, will show to the most casual
reader that this nation cannot prosper
under the single gold standard, and show
further that the whole United States.
with her millions of wage-earners, the
vast industrial and business interests.
are absolutely controlled by handful
Of foreign money-lenders. Statis-
ticians compute the indebtedness
$27. .99s. .793,659. The interest rate upon
this debt Is not less than 6 per cent. or
| an annual requirement Of $1.697, 724 900.
The average lifetime of these obligations
Is not more than five years. There must
annually be paid, therefore, $5,595, ,767.-
900 OF principal. or a total principal and
interest of 1898, ,491 900.
On March 1, 1896. the United States
| held less than six hundred millions OF
goddess than one-twelfth the amount
required to pay the annually maturing
| written Indebtedness Of its people. If
|
Kinley is elected on the Republican
platform) 1t would mean that the people
| of this country were to try to carry $685.
| 700, ,000, 900 of indebtedness upon less than
$500, 1000, 600 of gold, and at the same time
| conduct all their enormous business and
Industrial transactions upon the same
| narrow basis. Reason ought to teach
us that 1t cannot be done. If the people
surrender to the Republican gold stand
| ard they Will discover that it will lie
within the power of the Bank Of
England alone at any time
gold movement which would send $780,
100000 of this stock across the Atlantic.
A drain of $500 900, 900 would create alarm
and stagnation and would precipitate a
disastrous panic. The gold stacdard
adopted, the commerce and Industries
of this country would be at the mercy Of
the money centers of Europe. Twenty
money baroAs of the old world would
be enabled to play with the resources of
| the United States as the ordinary indi l.
| vidual plays at chess.
If we look upon the proposition even
In its narrowest sense, as does Mr.. Sum-
| walt, how much better would 1t be to
permit our silver barons to profit by the
law that would be the country's saliva
| lon, than to force upon ourselves COM
mercial and financial ruin, IL not a revo-
luton, simply to satisfy the whims and
|
and Lombard streets. SILVER.
Hr. Whitney's Ideas
Editor Herald: In the June 9th issue
of your valuable paper l notice the pub
lication Of a statement by Mr.. William
G. Whitney of New York city in which
he defines his ideas of the money ques-
tion. 1t would seem to most people.
especially those who are at all familiar
with the position Mr.. Whitney occupies,
that his opinion on the financial ques-
tions Of the day, although couched in
language both fluent and elegant would
| be Of as much benefit to the average
working man and voter as an opinion
from Mr.. John D. Rockefeller, the pres
ident of the Standard Oil company (of
which Mr.. Whitney is a large stock
holder) as to where the consumer should
purchase OIL Mr.. w. c. Whitney Is a
gentleman Of culture, elegance and great
wealth and has NNver been in posi-
ton to know what the masses of the
people need to make them prosperous,
and the monopoly of which he Is one of
the heads is, and has for a. long time,
been one Of the worst of the many curses
that have beenpiled on the patient heads
of the long suffering American public,
and fail to understand why the Demo-
| cratic party, If they entertain any ideas
Of electing their ticket this fall, should
even mention the name Of Mr.. Whitney
| FOR president, as, after his views are
understood. even his great wealth could
not buy him enough votes to place him
in the White House. The people need
man of the people and not one who
considers proper entertainments at the
White House and elegant manners the
highest aim to be attained by the presi-
| dent. If any country ever needed pa
| triot and an honest, fearless, clean man
to fill the presidential chair the United
| States needs 1t now. The last three
| years have been among the most trying
this government has ever known. With
out any wars or other national disasters
the United States has been thrown into
| condition that no other country would
have endured without rebellion of some
| kind, and the people are not in the prop
| er humor to give heed to the opinions
Of men like Mr.. w c. Whitney and Mr.
| Chauncey M. Depew, and when men Of
their stamp congratulate themselves
that their Golfers will probably continue
to be loaded to overfowing by the elec-
| ton of a candidate now in favor to mo-
| nopolists (for there Is little doubt but
that Mr.. Whitney will support the Re-
publican ticket on account of the gold
plank, they will be surprised to discover
that the people have arisen from the sep
ulcher in which they have been buried
| for the past three years and accomplish
ed the very thing Messrs Whitney, De-
| pew, Cleveland, Carlisle &, Co. have ad-
| iVSed them not to undertake,