Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-07-10


not declined. They have only declined
: as measured in dollars. And these
} dollars mean gold dollars or its equiv.
3 alent. What is meant by equivalen,
Is our other forms OF money, copper
nickel, silver and paper, which by the
new law, are redeemable in gold
When thing is redeemable in another
thing, the former is made as good as
the latter, SO long as it can be had to
had to redeem with.
what is meant by this is that gold
IS now OuI primary money, aud all
other forms of money are credit money
Credit money is representative money
representing primary money. Our
credit money is tied to gold, like the
tail OF a kite is tied TO kite. The tail
has gone up following the kite; gold
has gone up and is our only primary
money; whereas before, gold and sill
yer were both primary money, neither
redeemable in the other; other forms
OF money were credit money. By the
change in the law, silver was added to
the credit money, and the quantity OF
the primary money was cut in two.
The simple law OF bimetallism has
been overthrown and selfish and pow
erful moneyed interest has sought
since to maintain the gold standard.
AS was to be expected, it has resulted
IN great strain on gold, the only basis
OF our monetary system. AS the de-
mand for gold increased, its value rose
as compared with other property.
While nominally fixed by being called
dollar, the gold in dollar was rising
in value. This is one OF the things
1t has been the hardest for people to
understand. AS the demand is piled
on gold, the gold in the bullion rises in
valne as compared with other property.
And the gold dollar rises with it, and
likewise all forms of money that are
redeemable in gold. Ii wheat grows
scarce, or the demand for it increases,
it rises in value. II gold grows scarce,
or the demand for it increases, it rises
in value. But if the demand for gold
should increase till it, relatively with
other property, was ten times as valu-
BILE as now, the quantity OF it in dol
lar would still be worth a dollar as ex-
pressed in itself.
But 1t does not rise as compared with
itself, but rises as compared with other
property.
There was a time in the history of
the world when the wisest of men be-
lieved that the earth stood still and
the sun went around it. 1t appears
to us now to do so, though we know
better. In like manner, the people
have been led to believe that the gold
dollar is standing still and that the
silver dollar has declined SO per cent.
Gold, under the demand for it, has
advanced, and we call it the fall of
prices.
WHAT THE RESULT HAS BEEN.
With falling prices the people have
been impoverished. Taxes have not
been reduced. The farmer must now
give up twice as much of what he pro-
duces, to pay his taxes, as he gave up
in 1873. Official salaries have not
been reduced; some have been in.
creased. 1t now takes 100000 bushels
OF wheat to pay the Presidents salary
OF $4,000 where 1900 bushels would
have paid his salary of $25 900 in 1878.
Official favoriteism and neglect of the
producers and toilers has begun in this
country.
With broken merchants and manu-.
facturers all over the nation, with
prices continuing to fall, with tens of
thousands OF tramps in the land, with
panic following panic, with mortgage
foreclosures the order of the day, with
the owners of farms decreasing and
tenants increasing, with the simplicity
OF the republic disappearing, with sui
cides, insane asylums, penitentiary
Jail convicts increasing at an alarming
rate, disproportionate to the increase
in population, portending the breaking
down of civilization, what do those
who have brought us to this condition
say?
SAY 1T Is NOT TRUE.
They first say the condition have
described is not true, that we are ex-
periencing great area of prosperity
and enjoying high state of civiliza-
ton. l want to say in reply to that,
that there are two classes of men who
are danger to a republic. One is
the calamity howler. He may un-
Justly excite the nervous, but under
prosperity he will be swept aside as
driftwood in the current of a strong
stream, and is comparatively harmless.
The other class that j. dangerous is
composed Of those who deceive the
people, or who are themselves de-
| cieved, as to our true condition.
Those who hang out false lights and
lure the ship of state on to rocks, are
the worst enemies of a republic. The
damage they do is irreparable. Vain
boasting and pride as to nations
condition, like in individuals, goes be-
fore fall. 1t is this vain boasting
that has aided in the overthrow of all
republics. It's Use now will result in
the overthrow OF this present govern
ment of the United States. Be warned
in fipo that ,Lo Jo~pfolI rs Ill ...