Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-03-25
PAPER ARGUMENTS.
Capitalists Plan to Renew the "SOund
Money" Agitation.

Capitalists Plan to Renew the 'SOund
Money" Agitation.
Just prior to the meeting of the Ma.
tional Sound Money league called to
meet last month in New York city, the
Atlanta Constitution contained an open
letter of timely interest. 1t was adj
dressed to Messrs. John A. Stewart. c.
L. Huntington, D. o. Mills, E. Thalman,
J. Edward Simmons, Alfred S. Heidel-
bach, J. Seligman, William d. Sloane,
George NJ. Pullman, Russell Sage, John
d. Rockefeller, August Belmont,
George j. Gould and hundred or so
others of Americas most prominent
miilionaires.
This letter proposed that at the con-
ference of the ''sound money league
some one of these gentlemen propose
and urge the adoption of resolution
something like the following:
Whereas, The condition OF the people and
the state of business is to be deplored by all
who take an interest in the welfare of their
fellow men and in the progress of the coun-
try; therefore.
Resolved That prosperity should be re-
stored as promptly as possible.
Resolved 2. That we proceed Immediately
to restore it.
Resolved 8. That this is the only way to
prevent further agitation Of the money
question.
Adopted by any other body of men in
the country, this resolution would be
absurd and ridiculous. 1t would have
no meaning. But adopted by this con-
ference, and sent out by its authority,
it would give satisfaction to the people
in all parts of the country. In the list
Of more than one hundred names there
are not above a half dozen who cannot
command and control millions by a
mere wave of his hands, and at least
SO on the list can control hundreds
of millions.
These gentlemen can command the
money necessary to begin a new and
prosperous period of investment, and
their example will be followed not only
by the banks, but by all who have mon
ey to invest.
1t is for this reason that resolution
such as is outlined above would have
gone a long way toward restoring con-
fidence. Followed by actual invest
ments there would be an immediate re-
viyal of trade and business, and this re-
vival would attract capital from abroad.
We regret that this conference met
and adjourned without doing this lit
tie which they could have done to help
bring on a general prosperity. We
should hail as loudly and as gladly as
any the demonstration of the truth of
the prosperity theories maintained by
these New York capitalists, but there is
only one possible way in which this
demonstration can be made. It cannot
bc done by forming a national sound"
money league. 1t cannot be done by re-
viewing the agitation of the money
question as they are now preparing to
do; it cannot be done by spreading be-
fore the people arguments in favor of
the gold standard, no matter how plaus-
IDLY they may be concocted. The only
way in which the people of the country
can be convinced is for them to see and
saw and felt them up to the hour of Mr.
Cleveland's inauguration in 1898.
If these gentlemen really believed in
the gold standard and were sure that
it would bring prosperity, would dem
onstrate their belief and make good
their faith by investing their money in
channels where it would benefit the
people, this would be education enough. |
This would be much better than to 60
To the expense of maintaining leagues
and renewing a campaign that will be |
absolutely futile.
Unless the people get some relief. I'M |
less these capitalists put their shout
ders to the wheel and demonstrate the |
faith they profess the gold standard |
will be absolutely swept away at the |
next election.
And if the New York capitalists |
doubt just let them do as they have been
doing and ply the people with paper ar