Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1897-11-11

Nov, how Is the parity of the silver
dollar maintained? 1t is worth, as we
have seen, its face in gold. I answer
because the government Of the United
States sees fit in its wisdom to pay out
either metal upon its coin demands at
the option Of the creditors. Insist that
the plan proposed by the advocates OF
free coinage Of silver, that the govern
ment Of the United States shall pay sill.
yer upon its coin demands, would cause
the metals TO part company instantly.
"How much gold Is needed to do our
business? Just enough for convenience
in measuring and determining the value
Of our currency, enough for redemp-
ton purposes and enough to accommo-
date those who desire to hoard 1t. How
many tO-pound standard weights such
as are used on the larger class Of scales
for weighing stock and produce, is it
necessary to have? They are used to
balance the scales and to keep the pound
and ton from fuctuating. Just enough
Of those weights are essential to accom-
MEDIATE the business. Your cattle will
weigh no more II the weighmaster have
two or dozen Of these standard weights
than If he has one. 1t Is essential that
lie have one, and that this one is of the
same weight as those in the market
where you bought your cattle. II this
weight Auctuates you will not be safe
in buying cattle in one town and SELL
ing them in another, You might suffer
variation in the weight as well as in
the market.
You sell some wheat for $50. You
get check for 1t. You take II to the
bank. You have 1t deposited to your
credit, and you pay some borrowed mon-
ey or you get it cashed and take the
money to the store and buy some goods,
! don't care what you do with 1t; un-
less you carry the currency home and
take the risk of the midnight thief II
will find It's way to some bank before
shutdown.
II submit that it does not matter
whether you sold 80 bushels Of wheat
or 100 for the $50. The money used as
the measure of its value Is not exhaust
ed. II is not taken from the channels
of trade. II is ready for service the next
morning. Then, too, the chances are
that not penny in money Is used In
the payment for the wheat. If you de-
post your check, no money is used. II
you take the check to another bunk or
to store, no money is used, for they
will deposit it. The same amount OF
money in the banks and In circulation
will handle wheat at 80 cents a bushel
or dollar. Let me illustrate. January
/, 1892, the three banks in my town
had actual cash in their vaults OF
about 100000. In addition to this, of
course, they had money with their city
correspondents. During that year there
was sold in the town and paid over
the counters of those three banks very
nearly 100000 for hogs, large amount
for cattle, large amount for wheat
and still larger amount for corn. The
banks loaned that year to every man
wanting money who could give secur-
ity. There was loaned of eastern capital
on farm lands probably 100000. The
banks did business of many millions,
and when the year closed they still had
their 100000 of cash on hand and there
had not been shipped in or out during
the entire year $4,000.
"It is charged that the people of the
United States have suffered to an un-
precedented extent dating back to the
characterization act. The facts are easily
lily established that the world has never
seen such a period of prosperityas the
United States has enjoyed from the re-
sumption of specie payment to 1893
The wealth of the country never in
creased as rapidly. So many men
never prospered.
But you may say the people OF the
United States increased. So they did,
but in 1880 our people were worth per
capita only s5l4 In 1890 their wealth
per capita had increased to 1899. The
people Of the United States were worth,
on an average, more than twice as much
In 1890 as In 1869.
"But you answer these facts which
cannot be denied by Incorporation that
this unprecedented accumulation OF
property Is in the hands Of the few;
that the rich have been growing richer
and the poor poorer. II that Is 80, It is
not the fault Of the gold standard or
Of any political party. All that any par
ty or any standard or any legislation
can do is TO see to II that every man
has an open field and fair fight. 1t
cannot exempt him from the fight.
Fight he must, and the best that the
government can do is to see to ir that
no one strikes below the belt"
Greenback History Repeats Itself.