The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-06-06
WY THEY ARE FoR GOLD.

There is not only no cessation Of the
fight which is being waged in the east
against silver but the attacks GA the
white metal and its supporters grow
more bitter and unreasonable from day
to day. The reasons moving them to
this battle for the gold standard are OF
course asserted to be their interest in
the welfare and credit of the people
individually and collectively but the
real animus Of the fight is most truth
fully outlined i'm the following editorial
from the San Francisco Bulletin:
With scarcely an exception the Bos-
ton, New York, Philadelphia and Bal
timOre daiEes threaten to utterly de
strOy the party or parties meaning the
two great parties, whose platform de-
clares for the reconciliation OF Sill
yer. A little while ago these same dali
lies were willing that silver should be
restored to its old place Of redemption
money after the commercial nations
had fully agreed to it and fixed the
ratio of difference which should obtain
between the weight OF q gold and Sill
yer dollar, but now they appear to be
opposed to an international confer -
ence or any other step in the direction
of the coinage Of silver except as token
money.
1t is not to be supposed that these
great newspapers reflect the sentiment
of anywhere near the majority of the
people Of the eastern states, but nc
doubt they do express the thought Of
the bond dealers and the money DrOk-
ers, and it is easy enough to see why
the gold standardites would use their
influence with the press to prevent any
increase in the c0untry's volume of
money as redemption but IT IS not so
easy to see how the newspapers could
advocate the gold standard on princi-
pie
The more contracted the country's
volume of money is the easier it is for
mOneylenders to control 1T, and hence
to fix the percent charges for its use
The most ObtuSe mind in the land un-
derstands how an Inadequate quantity
Of circulating money could be corner
ed" easier than an abundance could,
and ne knows that IT the loanaple mon
ey Of the community were cOrnered, the
corner would have it in its power to
charge borrowers what it liked Not a
few of the fortunes of Wall street mag
mates We're made by cOrnering hem0n-
ey market and putting interest rates SO
high, and making it SO difficult to OBJ
tain loans at any rate OF interest or
discount that collateral security and
mOrtgaged property had to be forfeited
which very naturally operated to en-
able the money sharks to cancel the
debt by taking the security Many is
the man who has been forced TO Surren-
der his property because the corner
would not let him have money to pro-
tect himself
can readily be seen. increase the vol
ume Of money beyond the ability of
money Spectators to control, and then
their occupation would be gone, but the
public would be well supplied with mon
ey and borrowers could always get it
at reasonable rates. There is reason,
therefore, for this stubborn fight
against an adequate volume of money
to transact the business of the country
1T would break UP the business of cor
nering the money market which would
mean a great deal to good many
money lending sharks. Tt is a mistake
to suppose that the war upon silver is
because it is silver. for it is nothing Of
the kind. The whole scheme is to re-
duce the volume of redemption money
down 10 where money gamblers can con
troll it. This the dailies Of the eastern
cities know very we'll The question is,
then, Why are they on the side of the
enemies of the people? Why are they
standing in with Wall street i'm its eff
forts to tie the hands of the people?
Perhaps they can tell why.