The Wichita daily eagle., 1897-12-30

much progress in the line of invention,
much introducing of la5or-saving ma
chinery, much cheapening in the labor
cost of production. This, on your theory,
cnould have caused steadily filling prices.
But what happened? The outpouring Of
gold cheapened gold to a greater degree
than cocnmodities were cheapened and
The result was that prices were higher in
general so per cent higher, at the end OF
this period than at the beginning. Then
what happened? Along with many otner
nations. we closed our mints to silver.
We increased the demand for gold, with
the result that gold went up in value and
prices for commodities down You must
abandon the advocacy of gold mOnonet-
alism unless you can show that the de-
nqonetization OF silver, and the doubling
OF the demand for gold resultant there
from, has not caused gold 10 grow dear
er and prices lower, 10 the great injury
Of all producers OF wealth. You should
at least show that the perpetuation of
The gold standard Will not result in max
ing money dearer and human flesh
cheaper.
And now, just one word as to tche
Second resolution, 10 which you take eX-
ception. This res3lutior declares, and
You admit it, that the purpose Of your
currency bill is to cause the retii ement
os our national graenback currency and
al government paper money and the
substitution Of bank notes. This you
hold to he desirable. Why? Would it
not give the banks the power to regu-
late our foreign exchange, the power to
check gold exports by contraction and
by screwing down accommodation to
merchants to force them to sell their
products at prices at which our foreign
cre1itors would rather take such prod
ucts than our gold? Would it not thus
relieve the treasury OF the burden of
providing for gold redemptions, and
make the banks supreme? This we
hold to be undesirable. It would make
the banks guardian over our volume of
money, and 50 of our measure Of values;
It would enable the banks, working in
tile interest of the spectators, TO cause
movements in prices with great cer-
tainty, enable them to depress prices by |
contracting the currency and raise |
prices by expanding the same. II would |
make the banks the masters and the /
masses their slaves and would enrich |
the few and impoveris1 the multitude. |
'In the statement you recently made |
before the mouse committee on barking /
and currency in support of your bill, you
say, and repeat this trustn that the
less the government owes, the less it
viii bave 10 pay Yet your plan in
wolves the proposition of the redemp-
ton of OH national paper currency and
greenbacks upon which We pay no in
terest at all, and the issuance of bonds
in its stead in the sum of S2OO, 600, 900.
which we shall owe, and upon which
we shall ibe required to pay interest.
The Inconsistency of your statement
and your plan seems glaring.
I'VE oppose your currency bill be-
cause, as has been we'll said, it was
bill to provide for the abdication of the
sovereign powers OF the government to
the banks. for strengthening the hands
Of the speculative cliques, enriching the
few and hnpoverisning the many"
After hearing some friends continually
praising Chamberlain's Collie, Cholera
and Diarrhoea Remedy, Curtis Fleck of
California, purchased a bottle
Of it for his own use ard is now as en-
thusiastic over its wonderful work las
any one can be-. The % and 90 cent sizes
for sale by druggists.