The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-02-22
LARGE MONEY SUPPLY NEEDED

1 LhItO6 HtVi'H
Chicago, February 19.--tstaff special')--
Hon. John ]. Lentz, who is representing
nm Ohio constituency in congress- was III
| Chicago recently and said to me-
~ used TO believe In the single go'u
standard and think my speeches In favor
of that policy were as strong as the goid
side of the financial question could nave
| been presented But was wrong ana az
soon as | was convinced OF the fact'
honestly confessed my error to my con-
stituents and tried to show them the hgnt
also That ] succeeded the returns In my
district last fall will show, The demo-
la,ratic PARTY will win on the Issue OF BIZ
metallisn. in 1900. for We are now assured
that 1t is going TO remain true to the
| principles enunclated in its platform OF
1896"
what are your reasons for such POSI-
tive statement % asked.
1.-THE producers of the raw wealth OF
this nation" he answered, number over
IS per cent of its voting strength. b.
metallism would directly benefit each ana
every producer of raw material. The only
link In the chain that Is missing then, Is
such vigorous campaign of education and
reasoning that the truth Will be brought
home to them SO clearly that they will
be able to grasp It,"
~
Taking the farmers" I said, "as repre-
senting the largest class of raw material
producers, will you explain the direct
benefit to them of remonetizing silver?'
Certainly, and this class is very good
example to use, as, by the last census re-
ports. the farming vote represents Ave-
twelfths of the entire vote of the United
States" he enjoined. "Bimetalism should
find its strongest and most loyal advocates
in agricultural communities. not only for
the Inherent justice OF the proposition, but
because it appeals to their self interest.
The gold standard advocate agrees with
the bimetallist that the price OF agricul-
tural products would be very materially
enhanced by the reconciliation of silver.
Lest some gold standard farmer should
doubt this first premise, let me refer him
to the speech made by Benjamin Harrison,
ex-president. in New York City, August
~, 1896, and also to that eminent author
great gold standard organ, the New York
Sun. The next question that naturally
arises is, would the farmer be benefited by
receiving a larger price for the products of
his industry The bimetalist contends
that he would, while the monometallist in
sists that he would not.
Now, then, here is the point of di-
vergence between the honest reasoning
men of the two great parties, and l am
going to try to make the matter clear. All
producers of wealth and handlers of 1t in its
various stages of distribution seek TO in
crease the eXchangeable power of that
wealth, The farmer, who produces corn,
wheat or cotton to sell for money with
which to buy other necessities of life and
with which to pay his debts, asks all the
money he can possibly get for these pro-
ducts. There are two great principles
regulating and governing the price for
which he is able to obtain-one is the
amount of corn, wheat and cotton produced
in the world and the other is the amount
of money governments manufacture with
which to buy them large world stock
of money increases the price.
ITO illustrate the latter proposition, had
the anticipation of Klondike gold seekers
been realized by the addition of four bill
ions of dollars to the money stock of the
world the producers of corn and wheat
would have had double the world stock of
gold money bidding for their crops, and
prices would have been enhanced in the
same degree as prices would have been
Increased had there been a half crop and
the supply of money remained the same.
The supply of money should be sufficiently
large to afford to the farmer reasonable
profit in return for the products OF his
labor. The average prices of corn and
wheat should have been so per cent higher,
for the last twenty years, than they have
been. That additional price would not have
made millionaires out of any OF them.
II would have enabled many thousands of
them to pay their debts and save their
uuIueS, VIM are loudy Nlupl anu uuuc-
less. Bimetallism, as it existed prior to
1873, would have added to the material
wealth OF the farmer during tho past
twenty years of depression and falling
pric es."
"Why have not the farmers been unani-
nous for bimetallism since 1t would so
rebound to their beneft?" / asked.
He replied, They have listened to the
,ophistries of politicians who talk about
sound money the National credit, best
money etc. The farmers should remem-
ser that all office holders and others. who
AVE fixed incomes, are benefited by the
increased purchasing power of the dollar.
They get an amount stated and fixed by law
md the more corn, wheat and cotton and
,ther products of labor that this fixed
amount Of money will buy, the greater
he advantage to the purchaser and dis
advantage to the seller.
The annual salary Of William McKin-
ey OF $4,000 will buy double the amount |
# the products Of labor under tho gold
tandard than the salarw of William Jen- |
ings Bryan of the same amount would |
ave bought under bimetallisyn hod ha |