Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1899-10-19
dollar" Theirs was real gootl, honest
dollar with vengeance that ruined

dollar" Theirs was real COOL, honest
dollar with vengeance that ruined
Rome.
England, after her wars with Napoleon,
destroyed about half her money within
three years, 1918 to 1921. The inevitable
result came from this narrowing Of her
paper currency. The discounts of the
Bank OF England fell from over 500, 000,.
600 to $l3,5OO,OOO in five years time.
Doubleday, in his history Of this, says
THAT from the tremendous reduction Of
the price Of land, which now took place,
the estates barely sold for enough 10 ray
the mortgages; the owners were stripped
Of all and were made beggars.
d stress, ruin and bankruptcy were
universal.
Many fled to foreign lands, and know
Of some descendants OF these who are IN
Buffalo and who voted for Mr.. Mckinley
because, as they mistakenly believed,
England's free trade system was the
cause OF their grandparents ruin.
Now, let us turn to America and see
how she has followed England's wishes
and contracted her currency, impoverish-
ing the masses Of her people, that few
led by our national bankers in conjunc-
ton with English bankers, may take le-
gally, but not Justly, the earnings OF the
bulk Of the American people. The words
of Alexander Hamil on, in his communi-
cation to the house of representatives,
January, 1891, are worth quoting: ut is
advisable not to attach the unit exclu-
sively to either Of the metals, because it
would destroy the Office and character OF
one Of them as money, and reduce it to
the situation Of mere merchandise, to
annul either OF the metals as money is to
abridge the quantity Of circulating me-
diums, and is liable to all the objections
which arise from the comparison OF the
benefits Of full, with the evils Of
scanty circulation"
At the close of the civil war we had two
billion dollars; today one billion and
half. Then we had thirty.tive million
people today, seventy million.
At the same rate Of per capita supply
We should now have about four billion
dollars in circulation.
Mr.. Mccullough, secretary Of the treas.
ury, stated that the people paid their
debts in money, that is, they did not have
to give notes or borrow from the banks.
He also stated that this prosperity would
make the people immoral, consequently
our areenbacks were burned.
He then went to England and associ.
ated himself with London banking houses.
They burned the peoples paper money,
but our silver mines were helping to
make up for the crime. Then John Sher-
man manipulated a bill through the
house, which demonetized our silver dol
lar, which was then at a premium.
II, in 1866, our population had been the
same as now, they would have required
four billion dollars to maintain the same
per capita. Land was worth, say as per
acre. What would be the value Of land
with one billion and half dollars? The
answer, $1S an acre, is close enough.
And who claims that our farms average
even that an acre?
Is it strange that the farmers are shy
in buying, as they have to give such a
large amount OF produce to buy the
dollar?
The merchants cannot buy from the
manufacturer, and lie mist bank his
money or combine in trust and force
the consumer to pay the fiddler.
MIR. Bryan put it aptly when referring
to trusts: "You ask US to destroy the
trusts. We ask you to help US kill the
she bear (the money trust) fl st and then
for the cubs"
We are told by the English gold stan.
dard advocates that farmer in 1873,
under l8 to conditions, paid dollar for
certain amount Of groceries, that now
be gets the same for half a dollar, conse.
quently, how has he been injured?
Suppose this farmer in 1873 sold his
produce for $500 and his expenses were
$4OO. He saves 800. Under the gold
standard in 1899 he would get $3.50 and
his expenses are 1900. Hesaves $50. II
he has mortgage Of II 900 on his farm,
the interest is $50. Under free silver he
would have 40 over; under the gold
standard he would be 40 behind.
As money became scasces, the merchant
felt that something was wrong, and yet
was unable to locate the cause. He real.
lied that he must do g, netting to in
crease his profits, expenses DONG fairly
without any help.
So after bordering over the question he
decided to add another line to his bust.
ness. This was followed by another and
yet another. Expenses were less in pro.
portion and consequently profits greater.
/ IA no,,11 r,ivo Ia rnor oviora nd time hs,v