Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-03-11
OUR CANDIDATE IN 1900
A Good Roasting,

A Good Roasting,
The Indianapolis Monetary Con-
vention, assembled under the aus.
pieces and at the instance of McKin-
ley and Gage, sent it's carefully pre-
pared report to different organiza-
tons asking their approval OF the
bankers monetary scheme. Among
others, "Tne Business Mems Associa-
tion," at Chester, Penn, was favored
with copy. 1t was referred to a
committee of the association which
made report which was unanimous
ly adopted and forwarded to the In
dianapolis Commission. This reply
shows that there are business men
who have the courage to fifty char
acterize the deliverance of an assem-
bly, of gold bugs.
They join issue on every statement
made by the commission, and refuse
to concur in any. They use plain
language that the most stupid can
understand. For example: The COM
mission says: Gold is the present
standard of value in this country"
The business mems committee says:
Gold is not now nor has it ever been
the standard in this country. The
The American dollar is our standard
unit of value, entirely independent of
any of the materials of which it may
be made, and we refer you to the law
which created it and the decisions of
the Supreme Court of the United
States which has Interpreted the law
concerning it,"
Again the commission says: "Our
stock of silver dollars (some $500, OOO,-
OO0) is debt owed by the Government
to the owners of this coin, and is re-
deemable in gold, and for this reason
silver dollars are at par with gold
dollars"
This, say the business men, is who'll
ly false. The law is perfectly clear to
The contrary, and Secretary Carlisle,
in 1896, and Secretary Gage, in 1897,
each in their official reports have dis
tinctly stated that silver dollars are
standard coins of the Uuited States
and notredeemable. The demand for
money and not gold redemption holds
these dollars at par
Again: the commission says: "That
the depression of business in recent
years is due to lack of confidence in
the value of our money. and in the
credit of the Government
To this the business men reply:
There is not scintilla of truth in
this assumption. The credit of the
Government was never better, and in
the darkest hour of our depression
Government bonds payable in coin
(not gold) sold at an enormous pre-
mium'
The loss of confidence is in the val
ne of debt paying power of property
due to the appreciation of money. A
sensible man will not use money to
create or improve property under
prevailing conditions, and all prudent
owners of money seek to loan it on
gilt-edged security rather than to
spend it in improvements, SO that q
plethora OF money to lend congests
in the money centers. Judicious men
cannot longer afford to borrow money
for productive enterprises.
The Chester Club of Business Men
was equal to the occasion. Ex- Sena-
tor Edmunds, Chairman of the Indi-
annapolis gathering of bankers must
have very thick skin if he failed to
smart under such severe castigation
as was administered. Dynamite was
never more effective in destroying a
structure than was the response of
the Club in sweeping away every
refuge OF his cunningly arranged
scheme to mislead and deceive. What
complete and annihilating answer
to the statement that gold is the pres
emit standard of value in this country.
'"The American dollar is the standard
unit OF value without reference to
and independent of the materials of
which it is created" -Cincinnati En-
quirer.