Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1898-05-27
NO MORE BONDS.

The Kansas City Star says: mo more green
backs wanted"
That's question. 1t depends. If we have
70 have money to meet the expenses OF the
war, who would be injured by the issue OF
sxeeubacks2 Upon that the whole matter
hinges. The government must adopt one OF
two ways in case receipts of revenues fall below
sxpenditures. 1t must either borrow money or
;ssne oreeubacks If it borrOws money, the
ruoney.iender will be benefited, and the people,
ss a whole, will be taxed to foot the bill In
case the government borrows, there will be no
increase in the volume of the circulating n,edl-
um--this at time when an increase is impera-
lively demanded. In the issue OF greenoacks,
not onlv is met the demand for all increase IN
the volume Of currency, but that increase ini-
noses NO burdens upon the people. AT the
same time, government obligations are as July
discharred as If it borrowed money already IS
sued.
Taxes or no taxes. Burdens or no burdens.
II we now had enough Of money, we will
need more while the war lasts War wastes
and, 50, increases consumption, and thereby
stimulates production. Increased demand GRE
ates . larger volume of business.
TO carry on war with small volume OF
currency tends to enrich the few at the expense
Of the many. We believe this happens IN
time Of peace.
One Of the arguments of the Star is that this
Is a wrong time to water the volume OF curfen-
CIV by the issuing Of demand notes. we 40
nn admit the term "water'' as being applica-
hie in this connection, but, if admitted, dilu-
tion Il sometimes necessary in medicine. There
are many drugs that have to be diluted before
being administered. In gold-standard coun-
tr;es. where bonds are administered, death usual
" oyertakes the patient Water weakens; and
vhy is bond not Of the nature of water?
- Snain has bonded debt of $I,7oo, 900 900.
Hst~hnmded debt is watered till her promise to
pA.e;s worth 40 cents on the dollar. Spain has
no sswater" in her currency. The ability to
Stxis what eliminates ''water,' not the form
of 6bsieation. In the case of Spain, gold
obligation is two.thirds worthless,
Goykrament obligations MUST rest upon abil-
.Ayfso pay. That which imposes the least bur
sdens upsu the people insures the best security
~, .affef, all, the condition of the people, in
tS1safS9egate, is the basis of good or bad gov
siist1nes,t security. Spain can levy no further
texes upon her people, because they are now
1avi.s ap to the full extent of their ability.
(lus government might collect the 1ull amount,
"a tsxxs, Of the estimated cost OF the Cuban
VIZ, and our people would scarcely feel It, Our
bouds ate at premium. Shall our prosperity
costinuea aid shall our government still further
txo,aote that prosperity? In issuing bonds we
take the. Spanish road, and that road leads to
destruction instead Of national prosperity.
The Star is afraid of raid on the gold re-
,erye. That gold reserve has caused, and IS
eansins. vast amount OF trouble. Lie, lid
ertv and happiness of the masses pales into IN
.;xni6cauce beside the gold reserve, i'll the esti-
p,a.,au Of the Star and papers of the same Xix.
How many people in the United States have
h..n benefited by the gold reserve!' At the
tim. Of the war of the Rebellion, we had not
.,,.x, ,Ye shadow of gold reserve. The PEG.
d. mid big war tax and the masses owned
more wealth in 1865 than they now own, after
a, these years Of gold reserve. The gold
~...,ve is an illusion for the masses and spi-
AIS web for the Wall street spider.
The whole scheme of the $34o,ooo,ooo OF
....nhacks to be redeemed in gold and re-issued,
sor.,;t,.t,uo the endless gold chain, and under
-h;ch Cleveland issued bonds, was, and is,
.cA.me Of governmental robbery. The men
.>f =. .o.,1,aclc dru,f want