San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-10-31


With 100000 Did Business Of Man!
Mi,lions-Favors an Open Field and ,
FsiS Fight For Every Man.
The Republican candidate for govern
or of Iowa, the Hon. Leslie M. Shaw
appears not only to have clear under
standing of the money question, but tc
have the rare gift Of simplifying thi,
abstruse subject SO that it can be grasp.
ed BY ordinary minds. The following
extracts from his speech at Red Oak in
dictate his style of reasoning:
Nov, how is the parity of the silver
dollar maintained? 1t is worth, as we
have seen, its face in gold. / answer
because the government of the United
States sees fit in its wisdom to pay out
either metal upon its coin demands at
the option of the creditor. insist that
the plan proposed by the advocates Of
free coinage of silver, that the govern
ment of the United States shall pay sill
yer upon its coin demands, would cause
the metals to part company instantly.
"How much gold is needed to do our
business? Just enough for convenience
in measuring and determining the value
of our currency, enough for redemp-
ton purposes and enough to accommo-
date those who desire to heard it. How
many so pound standard weights, such
as are used on the larger class Of scales
for weighing stock and produce, is it
necessary to have? They are used to bal
ance the scales and TO keep the pound
and ton from fuctuating. Just enough
of these weights are essential to accom-
modate the business. Your cattle will
weigh no more if the weighmaster have
two or a dozen of these standard weights
than if he has one. 1t is essential that
he have one and that this one is of the
same weight as those in the market
where you bought your cattle. If this
weight fluctuates, you will not be safe
in buying cattle III one town and sell
ing them in another. You might suffer
a variation in the weight as well as in
the market.
You sell some wheat fer $50. You
SGG d III va tttAC ~ W C1iC
bank. You have it deposited to your
credit, or you pay some borrowed mon
ey. or you get it cashed and take the
money to the store and buy some goods.
| don't care what you do with it; I'M
less you carry tie currency home and
take the risk Of the midnight thief it
will find It's way TO some bank before
shutdown.
Il submit that it does not matter
whether you sold 80 bushels of wheat
or 100 for the $50. The money used as
the measure Ct its yClIe is not exhaust
ed. 1t is not taken from tho channels
of trade. 1t is ready for service the next
morning. Then, too, the chances are
that not a penny in money is used in
the payment for the wheat. If you de-
posit your check, no money is used. If
you take the check to another bank or
to a store, no money is used, for they
will deposit it, The same amount Of
money i'll the banks and i'll circulation
will handle wheat at so cents bushel
or a dollar Let me illustrate: Jan.
/, 1892, the three banks in my town
had actual cash in their vaults of
about $50, 900. In addition to this, of
course, they had money with their city
correspondents. During that year there
was sold in that town and paid for over
the counters of these three banks very
nearly $500, 0C0 for hogs, a large amount
for cattle, large amount for wheat
and a still larC~ mount for corn. The
banks leaned Tnat year to every man
wanti4, money who could give securi-
ty. There was loaned of eastern capital
on farm lands probably 800, 900. The
banks did business Of many millions,
and when the year closed they still had
their $50, 900 of cash on hand and there
had not been shipped in or out during
the entire year $50, 900.
1T is charged that the people of the
United States have suffered to an IN
precedented extent dating back to the
demonstration act. The facts are easily
established that the world has never
seen such q period Of prosperity as the
United States has enjoyed from the re-
sumption Of specie payment to 1898.
! The wealth of the country never in
creased as rapidly. So many men never
| prOspered.
But you may say the people of the
| United States increased. So they did,
but in 1880 our people were worth per
capita only 1914. In 1890 their wealth
per capita had increased to 81, 039. The
people of the United States were worth,
ON an average, more than twice as much
in 1890 as III 1869.
But you answer these facts which
cannot be denied by the proposition that
this unprecedented accumulation Of
property is in the hats Of the few;
that the rich have been growing richer
and the poor poorer. If that is so, it is
not the fault of the gold standard OF
of any political party. All that any par
" or any standard or any legislation
can do is to see TO it that every man
has an open field and a fair fight. II
cannot exempt him from the fight,
Fight he must. and the best that the
government can do is to see to it thai
l.