The Progress. (Shreveport, La.) 1892-1900, 1896-08-20

! benefit TO the companies than 70 the
| policy holders Savings banks deposit.
| tors know that under gold standard
| there Is increasing danger that they
| will lose their deposits because Of The
| inability Of the banks to collect thril
assets, and they still further know that
If The gold standard Is to continue in.
| definitely they may be compelled &c
withdraw their deposits in order 10 pay
| living expenses.
| Sold Means Ruin to Merchants.
1t Is only necessary to note the III
| CTrasing number Of failures in order
to know that gold standard is ruin
Gus to merchants and manufacturers
| If tie pcop'" cannot buy, retailers can
not sell, and, if The retailers cannot
sell, wholesale merchants and manu-.
facturers must go INTO bankruptcy.
Those who hold, as a permanent in.
| Nostment, the stock Of railroads and OF
other enterprises, are injured by gold
standard. The rising dollar destroys
the earning power Of those enterprises
without reducing their liabilities. and
as dividends cannot be paid until sal
aries and fixed charges have been sat
isfied, the stockholders must bear The
burden Of hard times.
Salaries in business occupations de.
pond upon business conditions. ana the
gold standard both lessons the amount
and threatens the pcrmanenCy Of such
salaries.
It's Effect Upon Az ClassnS.
Il have not attempted to describe the
effect Of the gold standard upon all
Classes-in fact, | have only had time
to mention a feW-but each person
will be able to apply the principles ac-
cording to his own occupation II
must not be forgotten that the dollar
cannot buy more than formerly unless
property sells for less than formerly
Hence. it will be seen that n large por-
ton of those who may find some pc
Cuniary advantage in a gold standard
will discover that their losses exceed
their gains.
Bryan ATTACKS the cold Bugs
"ln 1869 Senator Sherman said The
contraction of the currency is far
more distressing operation than sena.
tors suppose. To every person, except
u capitalist out of debt or a salaried
officer or annuitant, it is period OF
loss, danger, lasstude Of trade, fall OF
wages, suspension of enterprise. bank.
ruptcy and disaster 1t means ruin tC
all dealers whose debts are twice their
business capital, though one-thrd less
than their actual property. 1t means
the fall Of all agricultural production
without any great reduction of taxes
Mr.. Sherman was at that time speak,
ing Of the contraction of the volume
OF paper currency, but the principle
which he set forth applies if there is
a contraction of the volume of the
standard money of the world.
Blaine Was for silver.
Mr. Blaine discussed the same prin.
Ciple in connection with the demOne,
tization of silver. Speaking in the
house of representatives on Feb. Z
1878, he said: 4 believe the struggle
now going on in this country and Other
countries for a single gold standard
would. If successful, produce wide
spread disaster in and throughout the
commercial world. The destruction OF
silver as money and the establishing
OF gold as the sole unit of value must
have ruinOus effect upon all forms
Of property, except hose invested
which yield a fixed return in money.
Is it strange that the holders of invest
ments which yield Il fixed return il
money can regard the destruction o.
silver with Complacency? If the rela
lively few whose wealth consists large
ly in fixed investments have right tC
use the ballot to enhance the value o.
their investments, have rot the rest Of
the people the right to use the ballot
to protect themselves from the disas
trous consequences Of a rising stanI
ard? What shall it profit us to have {
dollar which grows more valuable
every day if such dollar lowers thu
standard Of civilization and brings dis
tress to the people? Il it Is asserted
as it constantly is asserted, that thu
gold standard will enable us to borrow
more money from abroad, I reply tina
the restoration Of bimetallism will re-
store that parity between money an(
property, and thus permit an era o.
prosperity which will enable the Amer
lean people to become loaners of money
instead of perpetual borrowers.
Must Stop borrowing.
even IL we desire to borrow, how
long can we continue borrowing under
a system which, by lowering the value
of property, weakens the foundation
upon which credit rests? Even the
holders Of fixed investments, though
they gain an advantage from the ap
probation Of the dollar. certainly SET
the injustice Of the legislation which
gives them this advantage over those