People's voice., 1897-11-18
To the Free Silver People of Kansas


Free silver is the battle-cry of th'
people. 1t was good RepubiicaniSm:
it is good Populism and good Democ.
racy. Better than all, it is goo.
citizenship, regardless Of party.
This paper is suggested not so mUc.
by this election, as by certain proceed
lngS at the meeting OF the stale
bankers association. held at Wichito
recently. This association is CON-
posed Of gentlemen who know wha
they want and how to get it. They
were practically unanimous agaiusI
silver and greenbacks. One stated
very frankly that gOld-standaIr
man, if he really understood himself,
should be a Cleveland Democrat.
But wish to call your attention TO
two Propositions there enunciateG.
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 S43O,OOO, 900 in the
banks, 81, 100000 900 in the county out
side the United States treasury, and
that the banks held loans for S5,00O,-
900. The second vas put forth by one
styling himself Populist. He an
nOunced that he had recently been
called upUn to address a body Of
farmers who had met for the purpose
Of organizing a silver CLUB. He stated
that he successfully dissuaded them
from the enterprise by saying TO them
that there were 100000 voters in
this country, and only 900, 900 OF them
we're farmers under mortgage; thai
the mOrtgaged farmers we're the only
ones who would be benefited BY free
silver, and that they coIld not hope
to Garry al election. Hence, the
organization Of silver cluos is useless.
Are these gentlemen correct? Let
US briefly analyze their position.
If there is 81 SOC, 900, 900 in the coun.
try, aud the banks have loaned $1,000.
O0O,COO, they have loaned SO, 100000,
600 more than there is in existence.
II the banks have $3.50, 100000 in their
vaults and there is Sl,6CO, 600, 600 out
side the United States treasury, then,
If all this was deposited in The banks,
they would have Sl,I7O,OOO,OOO of
money to lend. But by lending s., ,OOO,.
OOO,O0O they lend nearly five times as
much money as is available for USE
These figures prove that on a certain
day the people needed S3.4C0, 900, 900
more than was in existence; that they
needed it 50 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 tie 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., 100000, 900 more before meeting the
demand, as shown by the banks. As
no one pretends that such an amount
can be secured in gold, we are willing
that it shall 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 deOt
could also save more. AtSecOnd blush
this view is confirmed
But the advocates of free silver do
not rest their case upon the prOpOsi-
tiOn that it will enable debtors to pay,
important as that may be; nor upon
the proposition that il will restore
one Of the great industries of this
country, and to this extent increase
the market for the products IF our
farms and factories, important as that
may be. The great evil to which we
object is The evil Of a currency con-
tinually appreciating in value.
When currency is appreciating in
value the products and objects Of 10
dus:ry are depreciatiDg in price.
When commodities are depreciating
10 price, one with money hesitates to
invest, for he faces the certainty OF
loss; hence, he will hoard his money OF
loan it upon security, knowing that
next year 1t will purchase more OF