The Butler weekly times. (Butler, Mo.) 1881-1918, 1898-02-24

and industry, the inadequacy OF the
volume of gold is felt; it's scarcity is
emphasizes; It's value Increased.
The repression of life and happi.
ness, which is inseparable from a
long course of declining prices, has
now checked development, and if
continued will ultimately stife CIV
llization. An eminent American,
President Andrews of the Brown
University, some years ago said:
's'Our national debt on September
l, 1865, was two and three quarter
billions. 1t could then have been
paid of with 100000 bales Of
cotton, or 25,00O,000 tons of bar
iron. When it had been reduced to
a billion and a quarter, 10000, geo
bales of cotton, or 100000 tons of
iron, would have been required to
pay it. In other words, while a
nominal shrinkage of about SIS per
cent had taken place in the debt, it
had, as measured In either of these
two world staples, actually been
enlarged by some so per cent
although more than half the
principal of this enormous debt and
every cent of accumulated interest
has been paid by the labor of the
United States, the holders of the
bonds still hold claim for more of
the labor of the people than they
held before these enormous pay
ments had been even begun. This
cruel confscation of the lives and
liberty of the laboring millions of
this country is the most stupendous
crime that has been committed in
the annals of civilization. Unless "a
Government OF the people, by the
people and for the people has per-
ished from the earth, surely the
present boldly avowed scheme not
only to continue, but to increase
these evils, will not be permitted.
AvOwED GOLD STANDARD PURPOSES.
I'm addition to this purpose of
more thoroughly establishing the
gold standard. the plan of the adj
ministration is to retire the paper
money of the government. to issue
gold bonds and to increase the
power, privileges and profits of
national banks.
THE retirement of the govern.
ment paper money must reduce the
volume of circulation, and while the
Secretary admits that the contrac-
ton of the currency would be more
ruinous in twoyears than interest on
a like amount Of bonds for 40 ears
would be, he calmly informs US that
the national banks probably will
issue amount of money to pre- vent
this enormous suffering.
''The national banks are not to be
required to redeem their notes in
gold, but it is arranged that the
United States government shall do
so on demand; and, after having
done SO, the government must be
content to have the national banks
it in 'any kind of legal
tender money, at the option of the
banks
1--WE are frankly told that lawful
money will be made relatively
scarcer than it is now,' and that it is |
Intended that under the operation |
Of the bill it will be easier to get |
gold than lawful money Practically |
Ill of the money in the hands of the
people now, as the Secretary dis
;inctly admits, is silver, chiefly in
he form of silver certificates. The
lvowed purpose of the bill is to
make it hereafter more difficult to
get these than gold.
The monetary commission Sc
ected by the Executive Committee
If a self constituted Indianapolis
which assembled for the
express purpose of establishing the
yold standard, have also made a
'eport and promulgated a bill, the
provisions of which are so strikingly
ike the propositions Of the Secretary
If the Treasury in all material par
iculars as to suggest that they were
snd harmonized before