Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1897-11-18
TO THE FREE SILVER CLUBS OF
KANSAS.

FTee SllVGI Is TIC DdliiC-SAy "a eAS ~
pie. 1t was good republicanism; it IS
good populism and good democracy
Better than all, it is good citizenship,
regardless of party.
This paper is suggested not so much
by this election. as by certain proceed
ings at the state bankers association,
held at Wichita recently. This asso-
citation is composed of gentlemen who
know what they want and how to get it.
They we're practically unanimous
against silver and greenbacks. One
stated very frankly that gold-standard
man, if he really understood himself,
should be a Cleveland democrat.
But l wish to call your attention to
two propositions there enunciated. The
first was, that there is money enough
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 reports,
there was $3.50, 900, 900 in the banks,
$1,000, 900, 900. in the country outside
the United States treasury, and that
the banks held loans for S., 900, 900, 900.
The second was put forth by one
styling himself populist. He announc.
ed that he had recently been called
upon to address body of farmers who
had met for the purpose of organizing
a silver club. He stated that he success
fully dissuaded them from ithe enter
prise by saying that there were 49, 900,
600 voters in this country, and only
900, 600 of them were farmers under
mortgage, that the mortgaged farmers
were the only ones who would be bene-
fitted by free silver, and that they could
not hope to- carry an election. Hence.
the organization of silver clubs is use
less.
Are these gentlemen correct? Let US
briefly analyze their positions.
If there is 1900, ooo.o in the
country, and the banks have loaned
S.. 900, 900, 900, they have loaned So
400, 900, 900 more than there is in exis-
tence. If the banks have $3.50, ooo,:
600 in their vaults and there is 81, ,6oo,-
900 900 outside the United States
treasury, then, If all this was deposited
in the banks, they would have 81, ,I7o,-
600, 900 of money to lend. But by lend
ing S., 900, 900, 900 they lend nearly five
times as much money as is available
for use. These figures prove that on
certain day the people needed $780,
900, 900 more than was in existence;
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 s., 400, 900, 900 more before meet
ing the demand, as shown by the banks.
AS no one pretends that such an
willing it should be provided in silver.
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 if 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 case upon the PROPOSE
ton that it will enable debtors to pay,
important as that may be; nor upon
the proposition that it will restore one
of the great industries of this country,
and to this extent increase 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 ia currency continually ap-
preciatiag in value.
When currency is appreciating in
value the products and objects of in
dustry are depreciating in price. When
commodities are depreciating in price,
one with monsy hesitates to invest, for
he faces the certainty of loss; hence, he
will hoard his money or loan it upon
security, knowing that next year it will
purchase more of the products of in.
dustry than this year. In other words,
under an appreciating currency the
owner of money grows richer by mere