The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-11-26


The resent elsetioE demonstrates
thaf IN Cur cause there IS yet Hnch
Vitelity. Free silver Is the battls-cry
Of the people. ItEas sooa rspubiican-
ISM Is Is good p0pulfsm and good de-
mocEaeY. Better tnan ell, II Is good
citizenship, regardless Of party.
This paper Is suggested not 50 nuen
by this election, as By certain pressed
ings ct the meeting Of the state bank
srs' association, held at Wichita re-
Gently. This association IS composed
OF gentlemen who know what they want
and how to get It. They we're praeti-
eally unanimous against silver and
greenbacks. One stated very frankly
that gold standard man, II ne really
understood himself, should be Cleve-
land democrat.
But I wish to call your attention to
I two propositions there enuneiated-
The first was, that there is money en-
Ough now IN the country to transact
/ its business, to establish which one Of
the ablest bankers In Kansas City
stated that, at the time OF the last re-
ports, there was e430OO0,OOO in the
banks, s1.6OO,OOO.OOO in the country out
/ side the United States treasury, and
I that the banks held loans for S5pOO,-
10000. The second vas. put forth by
one styling himself q popuiist- He an
nOunced that he had recently been
called upon to address q body OF farm
ers who had met for the purpose OF
organizing a silver club He stated
that he successfully dissuaded them
I from the enterprise by saying TO them
that there we're 1900, 900 voters in this
country, and only 100000 Of them we're
farmers under mortgages; that the
mOrtgaged farmers were the only ones
who would be benefited By free silver,
and that they could not hope to carry
an election. Hence, the organization
Of silver clubs is useless.
Are these gentlemen correct? Let
rs briefly analyze their positions.
If there is 81 y6O0OOO,OOO in the coun-
try, and the banks have loaned 5000
100000, they have loaned s3,4OO,OOO,OOO
more than there is in existence. If the
banks have s43O,OOO,OOO in their vaults
and their is 1,6OO,OOO,OOO outside the
United States treasury, then, if all this
was deposited in the banks, they would
have s1,17OOOO,OOO of money to lend.
But by lending 5000, 100000 they lend
nearly five times as much money as is
available for use. These figures prove
that on a certain day the people needed
6, 400, 100000 more than was in exist
ence; that they needed it so badly that
they borrowed the credit Of the banks
to that extent and used it as money.
For it is not to be presumed that the
people paid interest on this vast sum
just for fun. They must have needed
it. If they needed that amount of
money, then the government would
have to coin $500, 100000 more before
meeting the demand, as shown by the
banks As no one pretends that such
an amount can be secured in gold, we
are willing that it shall be provided in
silver
And now as to our pOpulist banker.
At first blush one would think that if
the debtors would be favored by free
silver they would be favored only by
being enabled to save more than under
the present standard, and il the man
who is IN debt could save more under
free silver, the man who is out Of debt
could also save more. At second blush
this view is confirmed.
But the advocates Of free silver do
not rest their cause upon the PROPOSE
ton that it will enable the debtors to
pay, important as that may be; nor
upon the proposition that it viii re-
store one Of the great industries Of
this country, and to this extent in
crease the market for the products of
our farms and factories, important as
that may be. The great evil to which
We object is the evil Of currency con-
tinUally approaching in value.
When q currency is sppreciating in
value the products and the objects Of
industry are decreasing in price.
When commodities are depreciating in
price. one with money hessitates to in
vest, for he faces the certainty Of loss;
hence, he will hoard his money or loan
il upon security, knowing that the
next year it will purchase more Of the
products Of industry than this year.
In other words, under an sppreciating
currency the owner Of money grows
richer by the mere lapse Of time. His
gains viii come without his engaging
in the uncertainties Of enterprise. He
is thus impelled to withdraw his money
from the hazards Of business; this
Withdrawal leaves an increased de-
mand for the money still in use, and
that again increases the inducemeot
to withdraw additional sums from
business: and By this prOseess times
grow harder. Everybody is interested
in putting an end TO such condition
one under which the enterprise Of
the world is suffering. We would