The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1898-09-16
TALKING FINANCE.
Leaders Of Two Monetary Stand
ards Debating at Omaha.
hoe. ]. STERLING MORTON PRESIDING
Editor Horace white Argues That There Il
Ample Geld 70 Do the Business OF the
WOEId-H- r BaFtIne Argues for
the Silver standard


Omaha, Eeb., Sept 1A-One of the
most distinguished gatherings Of
financial students and authorities that
ever assembled opened a three days
session at the Nebraska building On
the exposition grounds yesterday.
Scarcely a well known name on either
side Of the great currency problem,
which has been so long before the
American people, but is represented
On the programme for a set paper or a
part in the running debate. Hon. J.
Sterling Morton presided yesterday.
Horace White, Of New York; Edward
Atkinson Congressman Fowler, Of
New Jersey; Editor P II. Robin
son, Of the Railway Age; Louis r
Enrich, Of Colorado Springs; Former
Senator Carey, Of Wyoming, and Gov.
Leslie NJ Shaw, Of Iowa, are to take
part in the programme. Mr.. Akin
son is not here owing to illness, his
paper being read by Mr.. Morton
Messrs Warner, TOwne, Bartine.
Weaver, Reynolds and leaders of sill
yer and paper money sides are to take
part in the joint debate Shortly aft
er ten o'clock Mr.. Morton called the
convent ton to order without any unusu-
al formally beyond a few words Of ex-
planatiOn and welcome. Editor Horace
White, Of the New York Evening
Pest, was the chief defender Of the
gold standard yesterday morning. Mr..
White considered the saying that
there is not gold enough in the world
TO do the business OF the world. II
can prove" he said, shat there is
enough gold to do our business At
the present time the banks Of New
York and Boston have s. Of gold to 81
Of paper in their vaults The reason
for this is that the west and south
have drawn nearly all their paper cur
rency away from them Gold has
flowed in from abroad to take its place.
If the west and south think there is
not gold enough to do their business,
let them send this paper back to New
York and ask for gold in exchange.
The cOuntenances Of the New York
bankers will be wresthed in smiles
while handing it over to them
I'VE have produced SIS, coo, 600 in our
own country which we have retained,
and we have received s., GOO, 600 to s10,-
600, O0O from the KlOndike. Our stock
Of gold has increased about $50, 600, 600
In little more than one year. Our
holdings Of gold are now fully $780,
600, 600, being larger than those of any
other country in the world, and it is
absurd to say that there is not enough
gold to do our business with
But the evidence is overwhelming
that there is enough for other nations
also. The amount added to the worlds
stock during the last eight years was
81, 81, O0O, 600, and it is increasing by
leaps and bounds"
d. F. Bartine, of the National BIZ
metalist, replied to Mr.. White, begin
ming with a support of the legal ten
der theory Of money in general.
He denied that either Mr. Atkinson OF Mr..
White had made any Affirmative showing in
behalf OF the gold standard In fact, he denied
that any Affirmative showing could be made for
It The same law that made 25.8 grains Of gold
q dollar could have made dollar Of half that
amount and. under the law making this
standard dollar. II there were only one ounce
OF gold in The world, it would not be worth
more than S2i6 g. The gold standard, wherever
It existed, was creature Of law and nothing
else Gold had 10 particular intrinsic value
It value as q money metal was altogether
extrinsic, depending upon its relation 70
other things. and its exchange value was
altogether dependent upon the law OF supply
and demand The difference between The sup
porters Of Bryan and those OF Mckinley in the
last campaign was only . difference Of method
One element believed in the free coinage Of
silver independently, and the other In waiting
for an international concurrence He made
the statement that. in the last election. prac-
tically 4. 900 voters had gone on record for
the free coinage Of silver ~ some time, only
134. coo voting uncQuiTOcally for the perpetUa-
zion OF the gold standard
The afternoon session developed
into an almost mouth-tO-mOuth con-
test between the gold and silver sides,
with the middIe-of-the-rOad editors Of
the Reform Press association strongly
in evidence for their favorite theory
Of paper currency. The first speaker
was 4 P. Robinson, OF Chicago, editor
Of the Railway Age. His subject was
The Interest Of Railway Men in the
Gold Standard, % and he predicted that
the 80, 600 railway employees Of the
country who voted for Mr.. Mckinley
in the last election would do so again
in 1900 for the sake Of their own inter
ests, as they wanted their wages paid
in dollars Of a purchasing power equal
70 that OF the money IN which they
are now paid
They Can stay In the Service.
Kansas City, No, Sept IAN the