The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1896-08-14
FOR INDIVIDUAL VOTERS.
Effects of the Gold Standard ON Different
Callings Outlined.

Callings Outlined.
Recognizing the disposition of the indi-
vidual voter to consider the effect of any
proposed legislation upon himself, we pre-
sent to the American people the financial
policy outlined in the Chicago platform,
believing that it will result in the greatest
good to the greatest number.
The farmers are opposed to the gold
standard because they have felt its effects.
Since they sell at wholesale and buy at re-
tail they have lost more than they have
gained by falling prices, and Sades this,
they have found that certain fixed charges
have not fallen Mt all. Taxes have not
been pcrceptibly decreased, although it
requires more of farm products now than
formerly to secure the money with which
to pay taxes. Debts have not fallen. The
farmer who OWED 81, 0O is still compelled
to pay 81 .OO1, although it may be twice as
difficult as formerly to obtain the dollar
with which to pay the debt. Railroad
rates have not been reduced to keep pace
with falling prices. and besides these items
there are many more. The farmer has
thus found complaint against the gold
standard.
Effect ON the wageearner.
III "dSttiEIItES IdNt bNSh AnJUEStt ny q
gold standard and have expressed them
selves upon the subject with great en-
phasis. In February, 1896, a petition
! asking for the immediate restoration of
the free and unlimited coinage Of gold and
silver at Is to l was signed by the repre-
sentatives Of all, or nearly all, the leading
labor organizations and presented to con,
gress. Wageearners know that while a
COLD ytn nd. rI roicnc tho vYrrcho civu ,,p1vor
of the dollar, it also makes it more difficult
to obtain possession of the dollar; they
know that employment is less permanent,
loss of work more probable, M re-em-
ployment less certain. A gold standard
encourages the boarding of money be
cause money is rising; it also ~discourages
enterprise and paralyzes industry. On
the other hand, the restoration or bimetal,
lism will discourage boarding, because.
when prices are steady or rising, money
cannot afford to lie idle in the bank
vaults. The farmers and wagc.,arners
together constitute a considerable major.
ity of the people Of the country. Why
should their interests be ignored in con.
sidering financial legislation? A monetary
system which is ~pecuniarily advantageous
to a few syndicates has far less to com.
mend it than a system which would give
hope and encouragement to those who
create the nations wealth.
Insurance Companies and Savings Banks
Our opponents nave made a special ap-
peal to those who hold fire and life insur.
ance policies, but those policyhOlders
know that since the total premiums re
ceived exceed the total losses paid, a rising
standard must be of more benefit to the
companies than to the p~olicyholders.
|. Much solicitude has been expressed by
our opponents for the depositors In saw
ings banks. They constantly parade be
fore these depOsitors the advantages Of q
gold standard, but these appeals will be in
vain, because savings banks depositors
know that under a gold standard there ii
increasing danger that they will lose theil
deposits because of the inability of the
banks to collect their assets; and they still
further know that, If the gold standard 1.
to continue indefinitely, they may be com
PEELED to withdraw their deposits in order
to pay living expenses.
1t is only necessary to note the increas
ing number Of failures in order to know
that a gold standard Is ruinous to mer
chants and manufacturers. These bust
ness men do not make their profits from
the people from whom they borrow
money, but from the people to whom they
sell their goods. If the people cannot buy
retailers cannot sell, and If retailers can
not sell wholesale merchants and manu-
~facturers must go into bankruptcy.
Business Occupations.
Salaries in business occupations depend
upon business conditions, and the goll
standard both lessons the amount an(
threatens the permanency of such sal
aries.
Official salaries, except the salaries O
those who hold Office for life, must In tn,
long run be adjusted to the conditions O
those who pay the taxes, and II the pres
ent financial policy continues, we mus
expect the contest between the tax-paye
and the tax-eater to increase in bitterness
The professional classes-in the main
receive their support from the producing
classes, and can only enjoy prosperit!
when thcrei Is prosperity among those VIII
create wealth.
have not attempted to describe the eff
feet of the gold standard upon all classe
in fact, l ave only had time to mention
a few but each person will be able to ap
ply the principles stated to his W occu
patton. 1t must also be remembered tina
it is the desire Of people generally to con
vert their earnings into real or persona
property. This being true, in considering
any temporary advantage which ma.
come from q system in which the dolla
rises in its purchasing power, it must no
be forgotten that the dollar cannot bu,
more than formerly unless property sell
for less than formerly. Hence, it will b
seen that a large portion of those who ma;
find some pecuniary advantage in a gol
standard will find that their losses excee
their gains.
In Relation to Banks.
It IL sometimes asserted by our oppt
nents that a bank belongs to the debto
class, but this Is not r u Of any solven
Z bank. Every statement published by
? solvent bank shows that the ASSETS excee