The representative. [volume] (St. Paul, Minn.) 1893-1901, 1897-09-08
THE GOLD STANDARD.
Do your duty, friends.
to the ST. Paul DiSDatch

Special to the ST Paul Dispatch
REDWOOD FALLS, Mimi, Aug. "a
remarkable depreciation in values is shown
in connection with the bids for the col
lateral and personal and real property be-
longing to the insovent Citizens bank of
this city. opened here last Thursday, but
to be approved or rejected by Judge Web
Der. at New Tim. next Wednesday. Notes,
personal property, real estate equities con-
tracts, etc, amounting to over $100, OOO were
offered for sale under the sealed bid plsn.
There We're 243 notes in the list. Only 81 500
were realized on the whole lot, and of the
amount realized $1,4S750 was realized on
the equity of the bank in what is known
as the Turrell farm of GAO acres, located
four miles from this city. There was a.
first mortgage on this place, amounting to
over $1,000, but the farm was supposed to
be worth $4,000, if one cent, and the pur-
chaser of the equity gets the farm at about
half price. Equities in three or four other
tracts were sold at from 81 to $40 per acre.
Only Al notes were bid on, and on only two
was the bid 80 per cent of the face value
The balance were bid in at all the Way
from to 20 per cent of the face value
The assignee will have about 49, 800 of the
insOlvent estate in his hands when he re-
ceives the money on the bids. and this will
a little more than pay up the states pre-
ferred claim against the estate. What will
be done with the other 200 notes, having a.
face value of about $4,000. is not known at
tlllS llIlle IL Is barely possible tnaC they
will be sold on private bids-in which case
they will not bring over 1000 The shrink
age of the estate has been something be-
yOnd comprehension.
This is but an illustration out of many
of the dreadful injuries inflicted on the
state by the gold standard. They are
incalculable. We feel sure. from all we
can learn, that this policy has swept
away one-half the wealth of the people
of Minnesota and of the whole nation,
and of the whole world!
II we had suffered this tremendous
loss IN mighty war, for some great
| interest or principle, we could feel that
| the sacrifice had been ennobled by the
| cause; but to endure it simply to make
| the money-lenders of the world, (the
| most useless, cruel and vicious breed of
creatures that ever infested the earth)
richer, is something unparalleled in the
! history of the human race. In the old
time men killed one another for relig-
Gus sake, and fought-on one occasion
| for thirty years, without intermission,
to decide which was the best way to get
| to a heaven the existence of which
| neither side could demonstrate to the
| other. But in that conflict both sides
sacrificed hundreds of thousands of
lives, and whole nations were desolated,
through sense Of duty they thought
they were right, and that it was neces-
sary to kill men to keep them from 60
ing to hell. 1t was philanthropy based
on manslaughter.
| But there was no meanness, no sell
| fishness in all this. There were. as thew
believed, great and immortal truths at
stake. They were trying to save mems
souls--not to strip them Of their poor,