The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1897-11-12
TO THE FREE SILVER CLUBS OF
KANSAS

The recent election demonstrates that
there is yet much vitality in our cause.
Free silver is the battle-cry of the peo-
pie. 1t was good republlcanism i; is
good populism and democracy. Bet
ter than all, it is good citizenship, re-
gardless Of party.
This paper is suggested, not SO
much by this election, as by certain
proceedings at the meeting of the State
Bankers association, held in Wichita
recently. This ass ociation is compos-
ed of gentlemen who know VIA they
want and how to get it. They were
practically unanimous against silver
and greenbacks. One stated very
frankly that a gOld-standard man, if
he really understood himself, should
be a Cleveland democrat.
But 1 wish to call your attention to
propositio ons there enunciated. The
first was that there is now money
enough in the country to transact its
business, to establish which one of
the ablest bankers in Kansas City sta
ted that. at the time of the last reports
there was 43O, ,0O0, 900 il the banks. 81. :
600, 200, 900 in the country outside the T..
S. treasury, and that the banks held
loans for $1,000, 100000. The second
was put forth by one styling himself a
populist. He announced that he had
recently been called upon to address a
body of farmers who had met for the
purpose of organizing free silver
club. He announced that he had sue
cessfully dissuaded them from the en-
terprise by saying to them that there
were 1900, 900 voters in the country,
and only 5000 of them were farmers
under mortgage; that the mortgaged
farmers were the only ones who would
be benefited by free silver and that
they could not hope to carry an elec-
tion. Hence the organization of silver
clubs is useless.
Are these gentlemen correct? Let us
briefly analyze their position.
If there is 81, GOO 100000 dollar S
and the banks have loaned $5 200, COO
600, they have loaned So, 400, 900, 900
more than there is in existence. If t, e
banks have $3.50, ,O00, 900 in their vaults
and there is $1,000, OO0,0 outside OF
the United States treasury, then, if all
this was deposited in the banks, they
would have Sl,17O. .OOO. 900 of money tC
lend. BY lending S., ZOO, COO, 900 they
lend nearly five times as much money
as there is available for use. Tn, Sc
figures prove that on a certain day the
people needed SO, 400 ,OOO, 600 more thar
was in existence; that they needed it sc
badly that they borrowed the credit O
the banks to that extent and used il
as money. For it is not to be presun
ed that the people would pay interes
! on this vast sum just for fun. They
must have needed it. If they needed
that amount of money then the govern
ment would have to coin 50, 400 ZOO, ,OOt
more before meeting the demand. a.
. shown by the banks. AS no one pre-
tends that such an amount can be Sc
cured in gold, we are willing that i
shall be provided in silver.
Now as to our populist banker. A
first blush one would think that if tn,
debtors would be favored by free sill
yer they would be favored only b.
being able to save more than unde
the present standard, and if the ma
who is in debt could save more unde
free silver, the man who is out of deb
could also save more.
But the advocates of free silver d
not rest their case upon the PROPOSE
tion that it will enable debtors to pay
important as that may be: nor upo
the proposition that = will restore or
Of the great Industries q tIiS cours-y
and TO mis- extent increase the r.c.r e
.or 1.le products Of opr f.rrus 81
factories, important as tas- -nav o.
TIE great evil 30 wnicn We oo5e,.5
the evil of a currency continually al
, preciadng in value.
When currency is sppreciatinc
1value, the products and objects OF il
dustry are depreciating in price. Wh.