The Louisiana populist., 1897-05-21
THE CURSE OF GOLD
EFFECT OF SINGLE STANDARD
UPON THE MASSES.
The Overproduction Theory and tho
Absurtllty OF 1t - The Independent
Farmer Has Become Hopeless Toller
Something Wrong.

Judge o. W. Powers in Chicago Rec
ord: What is the matter? Poverty is in
creasing. With increasing poverty
there is more crime. Suicides are more
frequent and despair is displacing hope.
The wealth of the world is drifting
under the control of the few. Depart
ment stores are running the small shop
keepers. Syndicates manipulate our
industries. The independent farmer
has become hopeless toiler. The day
laborer sees nothing ahead but hand
to-hand struggle.
Something is wrong.
The days are just as long, the soil is
just as productive, the sun shines just
as brightly and the rains are just as
refreshing. Our housewives are far
more economical and the opportunities
for bettering our condition should not
not be fewer.
Still, prices are falling. Real estate
Is poor investment. Business enter
prlses end oftener in receiverships than
profits. Mortgages are being fore
closed and deficiency judgments en-
tered. The courts are busy running
bankrupt railroads at the instance OF
bondholders. Money at interest at
three per cent is more profitable than
IN employing labor in industrial enter
prlses. The nation is constant bor-
rover, and, although taxes are an ex-
cesslve burden from the national gov
ernment down to our municipalities.
the public revenue is insufficient.
This sort of thing has been going on
Tor more than twenty years.
Unless things change there is no GER
tainty for the future but universal
bankruptcy.
The excuse given for the deplorable
state OF affairs by those who advocate
the gold standard is that there has
been overproduction. In other words,
We have been made poor by reason Of
having too much wealth. People are
starving because they have too much
to eat. Railroads are going into bank
ruptcy because they have too large
crops to move. Men are in rags be-
cause the sheep have produced too
much wool.
The conditions that exist are these:
All men would like to have on hand
plenty OF flour. From the gold mems
statistics the supply OF wheat seems to
be adequate. The men who own the
wheat would like to exchange it for
money, but the people who need the
wheat have no money to give in ex-
change. Real estate has fallen in value
until no one can readily tell what it Is
worth. There are numberless people
who would like to own homes, and
there are plenty of people who would
like to sell land. But the people who
want homes cannot raise the money to
exchange for the land, and the result
is very unsatisfactory to both parties.
There are hundreds OF thousands Of
Industrious men and women who
would like to make exchange OF their
labor for money, in order to exchange
the money thus received for things
which they really need, but the owners
of money cannot find profitable invest
ments upon falling market, and hence
hoard it in banks or loan 1t at interest
and the working men and the working
women 60 without employment. Horses
are ridiculously cheap, and many
people would prefer riding to walking.
The men who own the horses need
money and would like to sell, but the
mass Of the people keep Oh tramping,
for some could not afford a horse, even
IL he could be purchased for two bits.
We have, then, plenty Of labor which
is seeking a market. We have mani
fold opportunities awaiting the touch
Of money to spring into bene6cent life.
We have an ample supply OF the nec-
essities Of life, and yet, with bursting
granaries there are needed more pau
per houses. With ample wealth on
every hand there is demand for more
policemen to club down crime born OF
squalor and misery.
On the other hand, gigantic fortunes
have been accumulated in the hands Of
few people. While hundreds Of
thousands suffer, it is possible for a
Whitney, through the magic Of his
wealth, to transfer 1000 acres Of
wild land into a pleasure garden for
his children in less than twenty days.
Impecunious lords Of the old world
have no difficulty in exchanging their
titles for the daughters Of our million
aires, while many honest workingmen
cannot sell their labor at any price.
The beneficiaries of this vicious condi-
ton insist that it shall continue upon
the false plea OF honest money" The
peculiar advantages which they secure
| may be the real reason why they de-
nounce their suffering fellow-country-
men as anarchists" and violently rail
| because a cry OF distress sometimes
rings above the chink Of their gold.
AS other people suffer they gain. The