The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-11-26

sozs1 ans Healthy Prices A-e Better
Fhan es0ane7 EEoney.
TThen AR Cleveland was elected IN I
1872 The god trust had reason TO know 4
thai the plans 81 had conceived IN its i
orn interest would receive his hearty I.
sympathy sud support. But something /
more was necessary. Congress barred 4
the way TO such legislation as the gold I
trust deemed necessary 10 its purposes
I Public sentiment IN and around the I
financial centers must be touched up /
and crystallized. In order to do this Il I
was necessary to give the people an OBJ
/ fecf lesson.
The members Of the gold trust knew
that the minis OF India were TO be
closed Ia June, and that this event would
cause a serious drop in values. They
seized upon this event and its results
therefore, to produce most ruinOus
panic The banks Of New York, acting
as the agents Of the gold trust. began
! to call IN their loans, and refused TO
make new ones. This, Of course alarmed
indiVtdual lenders, and 50, in a very
/ few hours, the effect Of the tremendous
money contraction began to be felt
/ The banks not only refused to make
loans, but actually refused to pay out
/ money on the checks of depositors, thus
/ adding to the alarm and misery Of the
situation.
The object lesson was successful.
\ Aided by an administration which
turned against the people, the bond
! soueezers raided the treasury, and con-
| gress was weak enough TO yield to their
/ demands. The gold trust, taking ad-
]
the Cleveland administration, was also
successful in giving power TO another
| o. its agents, so that for four years, less
eight months, the people can expect no
I legislation calculated TO remedy the
evil results Of the single gold standard.
Meanwhile the voters Of the country
are receiving another object lesson
/ which cannot fail to make a deep and
/ testing impression on their minds.
They have discovered that the only
I measure Of relief which has come TO
them in any shape or form is the result
of a wheat famine in Europe and in the
si:ver-using countries, and that this is
a relief because the dollar has depre-
4 ciated as compared with wheat.
So far as the people Of the south are
concerned, they are having another OBJ
iect lesson in the price Of cotton, the
great staple on which the business and
4 trade of this section largely depend.
The price In New York is within a point
or two of the lowest on record. On the
Limitations IL is worth about S22 bale.
This Is the situation which our business
men. who have been impressed by the
false cry of sound" money, would do
well to ponder over. Here we have no
relief whatever from the evil effects
of the gold standard. We are compelled
J 10 face al its results, which seem TO
deepen and grow more distressful-
Would il not be better TO have sound
and healthy prices than to have such
sound" money? Did any business man
ever pause to reflect that the sound
ness of money relates only to its pur-
chasing power? Would it not be better
fer the people and for all kinds Of bust
ness If goods and commodities would
command more money in the markets
OF, TO put the matter differently, II the
purchasing power Of the dollar were
reduced? It has been reduced with re-
sDect to wheat and the effect was slim
ul2ting. Would not the stimulating e1-
feet be multiplied in like proportion If
the purchasing power Of the dollar were
reduced with respect to all eOmmodi-
ties?
Nothing will be lost If our merchants
and business men reflect little over
these matters. A great many Of them
can remember the activity and prosper
ity of the days when the greenbacks
were deprecated with respect to gold.
|, They were not sound money, but they
) gave the people prosperity.
al But the greenbacks are paper money,
and we are not advocating that
, kind Of money except in so far
!. as II may be I-7sed on specie. We are
advocating an increase in the volume
: of hard money-the money of the con-
stitution-gold and silver. The reason
!, the gold men say that this would result
: in ssunsound" money is because the dol
! lar would lose a part of its purchasing
! power. But would it hurt business in
) / the south If the dollar were to lose hall
its purchasing power2 In other words
6 would il hurt this section if cotton
7 brought ten or even Is cents pound
? That is all there is to the sound money
Z argument. and business men may figure
=. If out for themselves.
\ One thing is certain, there can be nc
S real or lasting prosperity, or any bust.
= ness activity while the dollar viii Pur'
e chase here 2O-Odd pounds Of cotton
/ The object lesson is one to which W.
> invite the attention OF all thoughtful
r people, especially the attention OF thOs'
]. who have been deceived by the false
l. hoods about honest dollars an6
s sound money.-AtlaRts Constitution
e ROAD TO BIMETALLiSM.
Chance for silver When n Currene'
. Bill Reaches ConEress-
= Great Britain having firmly declined
Il - A-,a-.na In calLinn an inter