The herald., 1897-06-22
Secretary cages prosperity"

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TO the Editor Of the Los Angeles Her.
ald-Secretary Gage is wonderful man.
His last statement IL that prosperity is
within hailing distance-the kind Of
prosperity that visited US in 1880. after
the six years of hard times. Either he
Is not a student, or else he willfully mis-
leads, or tries to mislead. the American
people. From 1873 to 1897 we had the
hardest times the country had known
for years. From 1860 down to the pres
ent time we have had the protective
tariff Of different degrees. and during
this time we have had two great panic
periods from '73 to 80, and from '9S to
the present time. Every time We have
had prosperity it has been brought about
by the coinage of silver, and not by a
tarifD bill. In 1879 Honest" John Sher-
man, in resuming specie payments,
found the gold was not sufficient, and
had to use silver and shortly after that
the government commenced again to
coin it. We were fairly prosperous in
every trade but that of farming, and the
limited amount of money kept the pro-
ducers underpaid while the lan6holders
and many besides reaped the gain. In
1890 We had the Mckinley bill, and with
it the Bland Allison act. Notwithstand-
ing the fact that the Mckinley bill did
not bring in enough money to pay the
running expenses of the government, we
had prosperity. 1t was shown in the
increased work and added improvements
all over the west. The west went to
work and the east had to run it's fac
tories to supply US. Was 1t revenue
that we needed? Did we have good
times when the Wilson bill brought in
enough to pay the expense of the gov
ernment? There are none so blind as
those who will not see, and the secretary
of the treasury is evidently one Of those
who learn by past experience. Every
time we have had the coinage Of silver
we have increased our stock of gold. and
have had prosperity. John Sherman,
when he voted for the Bland-Allison act,
said the 1000, 900 ounces Of silver per
month added to our currency would just
keep UP with out increasing population
and the increased demand of business
Yet in 1893 he Joined the money lend
ers and their newspapers in decrying
what he had voted for, and said it was all
wrong. Changing ones mind quickly
has been so far the sole prerogative Of
women, so we suppose we might class
Mr.. Sherman as an old woman. Mr..
Gage further says we must quit finding
fault, and put our shoulders to the wheel
and we will be all right.
Did Mr.. Gage talk that way before
election? If Mr.. Bryan had been elected
would he have put his shoulder to the
wheel as the Silver Republicans, the
Populists and the Democratic senators
are doing? Would he have worked for
the free coinage of silver in order to give
it fair trial? Would he do what he is
now asking the men and women who
voted for Bryan to do? He also says
that the west is getting to where 1t has
got to buy, as it's stocks of good are all
used up. Having to buy, the west will
cause the wave of prosperity to come
rolling on. He does not say where the
west is going to get the money to buy
with.
Mr.. Gage had better attend some
financial school and learn some Of the
simple laws of finance instead Of trying
to befuddle the question and lead the
people astray. Be honest, Mr.. Gage,
and study governmental policies in the
broad light of craftsmanship, not in the
narrow light of banker.
Shuttle off your environment, and come
out among the people and learn Of them.
The only way We can have prosperity
, is to coin silver and restore it to its old
place as primary money We cannot
make the country prosperous by raising
the taxes. c. F. E.
Manzana. Cal, June 10, 1897.