The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1898-10-11

our financial law, but MS concl.-t is
no deeper Ia. TIM. cf - h. ,bte..
ard ooret e,.ize1 + re ~ d. Dur
drtucil policy more then ar OF er
fer rre II governmental rAF-s oret~
st,a ii.eotl- rnd hc-,t hly rpol h-
co~d'dcn oi he Pc1r.'. 't,'s a-a
M l" src.c5- al balke.s WHO are ers
u.oy .horDat RI. the financial history
o .ti sonn 49, Ard who have noJ the
Ugh ,s. conception % .re money
qces.io~ ac g. affects lhr welfare cf
.Le whole people
fyls no. uossijla ior She baultor Tho
couints bimsel, TO business within le-
Ri.imnto banking lines TO prosper II
there is not general prosperity and
many intelligent men have been at
loss 10 understand why number q
bankers, known to bc sincere and con-
scieutious, persist in u elr advocacy OF
the single gold standard. The banker
who knows anything al all knows that
when hs bank vaults are bursting
with inactive money that that is not a
sign of prosperity. lie knows that
the continued decrease in commercial
loans is not an indication of prosper
ity. He knows that when money
avoids investment lin commercial en-
terprises at usual commercial rates
and seeks investment In government
bonds at per cent that that is not an
indication Of prosperity. lie knows
that the value Of money is not repre-
sented by the low interest rate any
more than the s. livery hire repre-
sents the value OF 5000 team. he
Knows that the continual decline OF
the real estate market, the avoidance
Of real estate investments, are not in
pications of prosperity. He knows
that the successful operation IN the
governments credit by the brokers OF
Wall street is not an indication of
prosperity. He knows that under the
single gold standard the dollar is be-
coming dearer and dearer while real
property is becoming icheaper and
cheaper that money is becoming more
and more inactive ia commercial cir
cles. There are many bankers, sim
cere men, who calmly face these con-
ditions and yet who continue to de-
fend the single gold standard Many
of these gentlemen are influenced by
by their eastern correspondents exact
ly as somo business men are influence
ed by their local bankers.
II is not difficult to form the notion
that because a man is u successful
banker he is necessarily sound adj
wiser rs to the manner in which the
nations financial policy should be
shaped. If physician appearing be-
fore a legislative committee had rec
commended a system Of laws intended
to provide for the health OF the people
which, after practical experience, it
was demonstrated made tho people III,
the Legislative committee would not be
inhumRn il IL entertained the suspicion
that that physician was looking out
more for his own interests than for the
welfare of the general public. But the
relation OF the physician to sanitary
regulations and the relation Of the
banker to our financial system is not
fair comparison. The business Of the
doctor is 20 study the human system
and to provide methods for its rear
raugement when il becomes deranged.
The business Of the banker is TO re-
ceive deposits, make loans for CONNER
cial purposes and provide for general
exchange business, 1t is not the busi-
ness Of the banker to issue the money
for the people, or to be given the power
whereby he can at will initiate or con.
tract the volume OF the currency.
The banker who has studied the
money questicr-and not all of them
have dared to study the money ques.
tion-is entitled to be heard and
whatever arguments he may present
are entitled to the same consideration,
and no more, that would be accorded
to the arguments presented 10y any
other individual.
When the banker tells MS that the
single gold standard is right and that
the policy OF the bimetallists is wrong
we ask him why II ne insists that
we must accept the statement simply
because it is made by banker We
might be pardoned II we told him I'VE
are from Missouri 80
II the banker tells MS that a non-in-
terest bearing obligation that served
the people we'll as money should be
substituted by an interest bearing Oh.
legation that will not serve the people
as money, We ask him why And II
he Is unable TO present sound reason
ing i'm support Of his position the
fact that he IS a banker will not
count against the logic which we may
present,
n the banker tell ms that the banks
should issue all the paper money Of
the country we ask him why And
so long as he Is unable TO present
sound reasoning in support OF his po-
sition we have right to insist that
the fact that he is banker is Of no
importance.
II the banker tells us that when ne
presents greeubacks TO the treasury