The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1896-08-28

Cent DOllarS-IhlS is About All Th err
is to the Talk of "Sound Money"
Mr. III. 4. Thurber, of New York, who
has large interests in Idaho, replies tt
an inquiry made by an eastern gentle
man, through the Wood River Times
as follows:
HALEY, Ida, August 81, 1896
My DEAR SIR.
Yours of the 7th inst. just at hand
As look at the silver question it is a
very simple one 1t is the difference
between permanently demenetizing
over one half of our legal tender money
when there is not enough money per
capita for the wants of our active, push
ing, progressive people.
1t is question between those persons
with vested capital in bonds and mort
cages and securities, on the one hand
and the persons who instead of placing
their capital in evidences of indebted
ness, have placed the same in real es
tate, houses and lands and, in fact, all
and every kind of property other than
in those evidences of Indebtedness.
In short, it is question between the
creditor classes and the debtor classes
for nearly every progressive man is a
debtor. He invests beyond the amount
OF his own accumulated capital, and
borrows percentage of money upon
the property acquired for improvement
of said property or to purchase more.
The decrease of legal tender money
reduces the value of all property other
than debts, and, as view it, is taking
from the poor or medium class and add
ing to the wealth Of the creditor classes.
You know and l know, when money
is hard to obtain that all species of |
property is reduced in value. You
know how hardly that works upon tie
man who has placed his means into
permanent property, whether it is
farm or house or other buildings, and
how doubly hard upon the man that has
run into debt, for or on account of
them.
You probably do know, and do know
many hard working men who have been
progressive, have bought more land
made more improvements than their
own capital warranted and for the last
few years have seen their property de-
crease in value year by year, each year
find it harder to get money to pay in
terest, if a farmer his products bring
ing less and less, but the debt increase
in unl I'M fol |
the property to pay that debt, and
have seen, over and over again, the
creditor getting the property for the
amount of the debt when it was worth
under bimetailism and had cost double
the amount of the money originally
loaned
This was caused by the reduction of
legal tender money per capita. In 9th
er words, money has increased in value.
The creditor was enriched, the debtor ;,
was made poorer. d
Hence l say the demonetization of W
silver by fat of law has had the effect 81
and will continue to have the effect of r.
money into the hands of the IL
creditors and taking away from the N
debtor seven that he had" CT
"50-cent silver dollars" is misnomer; "a
but it should be known that gold dol CT
lar is now 200 or more cent dollar, be- W
cause since the demonetization of sill 10 10
yer that gold dollar will buy of very W.
many kinds of property double the re
amount it would before this trouble til
came upon us. az
If the effect of demontizing one-half If;
Of our money is not legislating for the til
benefit of the rich, then I am entirely
1T fault.
You know there cannot be gold en-
ugh as redemption money in the world
yhen tremor comes over our market
s soon as Europe begins to draw gold
rom us in any large quantity, and that
here is not but a 1.-THE of gold in this
ountry to pay the debts that are due 70
nd owing. 49,
If this is not fight between the cred ele
Tor and debtor classes, why is it that Gu
very single creditor is crying out for fer
sound money" "honest doIlars?" From br
~ standpoint think it is not "honest SIX
ollars" they want, but that it is dis spt
onest dollars, that it will take two dol lea
us worth Tor should-be WORTH of mex
roperty to pay that so-called "honest ed
ollar" res
l do not wonder, and am not sur not
rised, at the great uprising of the peo- anc
lie against this injustice and shall not of
, cr11yNr;coJ of -oos..-