Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1896-10-01
cary AND LIND
,uV FINANCIAL ISSUE OF
THE CAMPAIGN.


.mpions Of Opposing
NJ wnteryille The
ncy question Crowded
rat discussion Occupy
rnree Hour. with Twelve
p.opIe to Cheer the
...-McCIeary Backs HIS
with Proof, LIND
',.pt. Himself WIZ"
,u,n. Special. Sept. p
kriie. .dnoInt OF pure argnmeh,a,ioh
be debate avails very little,
zeal JON ,atween Congressman ). L.
contes' rIon. John Lind at Ietonka
n ana was no exception to the
bis aite CONGRESSMAN McCleary made
rule. received with applause ana
Iina n,ss apology for the CONDITION Oh
Osnd health, plunged wi.h n,ue
(cs,r into his argument ne 'a' ="
IL, IL one Of the greatest Inn
que ne American people. Ii Is
&c !, i,nited States Is capable or
er tne nd maintaining a bimetallic
)thias ~,aaanendent action or whether
D! .,"ra on the gold standard UNI
can nations consent 10 pilhetai-
Enpear has two, indeed, three
aOI.,ding Functions.
a. function as a measure or
fst medium OF exchange: the sec
anu ,nnctlon OF a standard OF de-
h ~ on time contracts. Both
pas.ions are OF the greatest Inn
iun orr ~opponents the gold mono
esT. ,nclpding my opponent to-day,
1 I,sruss the second functioh Oh iloles
iso stated IL, combining their argu-
Nv money as u measure OF Vaiue.
4 " / speech made by Congressman
y nV ~ congress. He says that he
|fsi! hoard men speak as III there
ss many dollars in existence as
" ~aollars' worth Of business To be
ga Ne say that this Is as absurd
ts,mer were told that there must
manv bushel baskets TO meas
~. cron as he has bushels OF
ar as Il II were claimed
,ha,a must be as many yard Sticks
: varc wards Of cloth. He here talks
'aav os a measure OF value as the yard
~ . mea sure OF length or a pound Is
.,sure of weight. This sort or argu-
q fallaclous. The yard stick always
..,ss thIrty.six inches. The bushel nj
! easures the same quantity OF grain.
nonpd weight Is always the samr
- Mr.. Lind produced a quantity OF
n,steboard boxes AMI piled them up
niles, for purposes Of illustration, as
,,nuad. II remember when a boy
! farm. wheat was hauled from Cannon
N Hastings. and II then took a half
!, and O peek 10 buy "A dollar.
i, took two half-bushels: then three,
,,w four half-bushels to buy a dollar.
il II with he yard stick? Has 1t meas
more and more cloth? Has the bushel
with age? Is there any sense
wing that The dollar Is the measure
Inc. as the yard stick Is of length!
an argument leads to confusion.
ey measures by comparison only. III
OF dollars and the credit that
afely be based on the dollars is large,
ps less property TO secure the dollars.
dollars and the credit is smaller In
It's, Il takes more property to secure
ollars. taking into consideration the
II with which the money can be han
Nv opponent would argue that money
res value as the yard measures length.
he. then, take a pocket full OF yard
when he goes TO a store 20 buy cloth,
pound weights when he goes to buy
lies?
ey is q commodity as all other forms
perty are commodities, and a bargain
lie is an exchange OF a dollar for prop
The dollar Is a piece OF property In
,rm Of a coin or its equivalent In
The man who buys a dollar sells
-ty; the man who buys property sells
Mar.
rade the law Of supply and demand
! governs. III the supply Is small the
Is dear; II the supply Is large. the
s cheap. IL money Il scarce. Ii takes
" products TO get IL. This Is true of
nitea States. Ii Is true OF the whole
Ii takes more OF wheat. more corn,
beef 10 buy the dollar. Property Is
Ing cheaper and cheaper. and the dol
and dearer. is that conducive
interests OF the producers? There
such thing as absolute value In a dol
anything else. Its value Is relative.
ling upon the time. place and con-
. The value OF n dollar in trade does
pend upon the number OF grains put
I. but upon It's command over propl
In this respect Ii has been an unjust
nd for twenty years. The yard stick
manned the same, but the dollar has
and is still growing. The number OF
and credit has not kept pace with
crease In population. business and
ton.
friend. when In congress. never re-
TO money as a standard Of deferred
nts. When you borrow dollars you
TO return dollars and pay for the use
N. What Is fair between man and
what Is justice. humanity and moral,
thls transaction? Ii Is that the dol.
nrned should have the
same Purchasing Power
dollar borrowed. IL IL Is OF less
You do an injustice to the creditor,
OF greater value. commanding more
u Is an injustice to the debtor,
Is returning more than he received
= paid for the use In the meantime,
BIO II government owed In round
3 Sl,IJO,OO0,O 900 In bonds. On Sept
-, We owed $3.50, 900, 900. Those
Uo,OVo In bonds commanded e GER
aantity Of property. IL their value
creased by legislation then an in
was done the nation. 7 assert. and
~ II to Prof. McCleary that 1t would
equired a smaller quantity Of prop
'ss 'wheat and corn and pork, to have
ed those S1,75O. OOO, 900 OF bonds In
IAN IL would take now TO cancel the
now outstanding. Is that jus
= II any wonder that there Is un'
ine same state OF facts Is true Of the
uai debtor. except that Fortunately
! MS debts run for a shorter period
., IL is true Of the bonds that rep
Tue indebtedness Of your municipali
AZ school districts. 1t constantly
nore and more OF products to over
y dollar always growing In greed.
wnat Is the other side Of the argu.
MY friend will say that low prices
70 overproductlon. perchance. There
"neat per capita produced In the
to-day than there wos In 1SS5 an,