The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1897-10-21
THE IOWA CAMPAIGN.
CANDIDATE SHAW REFUTES SOME
ORGANISMS.


BRYANISMS.
Blows How the Free Coinage of Silver
Would Affect the Farmer and the Wage
yrorker-Means Less Money and a Panic
Evils of q Dishonest Policy.
The Republican campaign in Iowa
has fairly begun. The candidate fol
governor, Leslie NJ. Shaw, has taken
the stump. There will be an exceeding
~ lively canvass from now on until
November. Bryan has left the state to
do some talking in his own state Of Ne
braska, where there is also to be an
election this fall He may return to
Iowa, but whether he does or does not
he has dinned into the ears of those
who have attended the meetings he has
held variety of falsehoods which Mr..
Shaw must devote much of his time TO
exposing.
In the speech at Red Oak, with which
Mr.. Shaw opened his campaign, he de-
scribed forcibly some of the immediate
consequences of the enactment of law
for the free coinage Of silver at the
ratio of 16 to l. Bryan has been assur-
ing the Iowans that the passage of such
law would increase the volume of
money in the country" Mr.. Shaw's an
swer is that free coinage would put gold
at a premium and thus decrease the
volume OF money" For
Let it be posted on the bulletin boards of
this city that gold is selling at premium on
Wall street and there is not a man, woman or
child so patriotic as to pay out gold without a
premium. don't care whether the 5000, 000, 600
OF gold now circulating shall be thereafter
boarded in the banks, or in teapots or stock
ings, or sunk in the sea. 1t circulateS no
more except at premium
Something else will happen which
Mr.. Shaw does not mention. 1t is that
the ST., 40, 000,0 900 of silver and paper
money-the national bank notes includ-
ed, each dollar of which has at this
moment the purchasing power of gold
dollar-will be worth only 43 1-3 cents
on the dollar.
There is not much gold passing from
hand to hand in Iowa. When the farm
ers of Iowa are told that free coinage
will drive gold out Of circulation, they
OOAlOpA1lCo dthS"Cf uldCuCSU1uS1y, IL
is not in circulation now as far as we
are concerned" But when it is explain
ed to them that under free coinage ev-
cry silver dollar, silver certificate,
'greenback, Sherman note or national
bank note they have in their pockets,
have deposited in bank Or have loaned
will buy less than half the groceries OF
farm implements or building materials
that it will now they will begin to un.
derstand the ssiituation.
i an asserts that free coinage means
more money and greater prosperity. Mi.
Shaw declares that it means less money
and panic, which is the antipodes OF
prosperity He describes the immediate
effect of free coinage law as follows:
Let gold go to premium and what will be
the result? Foreign holders of our bonds be
cor frightened. They think the sooner they
ee,i the less they will lose, and they flood our
markets with bonds and stocks and ruthlessly.
sacrifice them. Every holder of a bond or
mortgage in this country becomes also fright
ened. They literally run over each Other to
dispose of their securities; no money for in
yestment, no money for commerce, no money
Nor loans Defaulted interest means foreclo-
1re. Foreclosure means 1OrceQ sale. FORCED
Ale means loss of property.
This is not all The productive indus
tries of the country would come to a
sudden standstill Millions of wage
workers would be left with nothing to
do because of the closing of the mills
and factories where they had been earn
ing their living. Those wageworkers
~x,<,,1I 70 no tho Of %
products of the farmers that they are
now, and the farmers would share in
the evils of destructive, dishonest
monetary policy.
In future speeches Mr.. Shaw will un-
doubtedly answer other false statements
Bryan has made. But he must not fail
pay special attention to one point
ncerning which Bryan has remained
,rsistently silent That is the rank,
dlainous dishonesty of retroactive free
image which will allow debtor
whether a private individual, bank,
a corporation or a municipality-to re-
pay his debt in money worth less than
half as much as that which was borrow
ed, thus cheating the creditor out of
more than half what is due him.
Bryan advocates policy which would
result in a scaling down of Indebtedness
Of all kinds over 56 per cent, but thus
Ear it has been impossible to get him to
iscuss and defend the morality of that
ethod of dealing with credits. Mr..
ew must expose it's gross immortality
,aust ring the changes on this colos-
ri fraud which Bryan desires to see
committed, but which he has not the
hardihood to explain and defend. Chi
ago Tribune.