Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1899-09-25
MCKINLEY AND THE CURRENCY.

twas three years ago just ABOUT now
that we satin Judge Doty's office, one
day, when one Of our Populist friends
came in, and we got 60 talking about
the then coming election. Our friend
said that he was going to vote for
Bryan instead of Mckinley because he
believed tnat it would be the Repub-
lican policy to stop the coinage OF
silver and withdraw from circulation
what white metal was then in the
hands of the people; that they would
then contract the gold and have bor-
rowers at the mercy of the lenders.
Our friend had been told this by
Populist campaign iierature, and was
honest in believing it and so earnest
in talking it that we came up to the
Office and fled away treasury report
for the first day of August, 1896, which
we had just received.
The other day we received the
report for August 1, 1899, and as we
came out of the post Office saw our
friend driving quito of town. That led
US to compare the two reports.
We find that the Government did
not stop coming silver dollars. We
find that it did not contract the gold in
circulation. We know and everybody
else knows that the borrower is not at
| the mercy of the lender. We knew
that seven and eight per cent. were
the rule then and that money was
| hard to get at that. We know that
money can be had at five per cent.
now and that loan agents drive all
over this country hunting borrowers.
They go to the records and find who
has loan coming due, then they go
to the farmers house and offer him
| all sorts of inducements to let them
have the loan. All they want is good
security and a clear title, and the
money comes easy.
But how about the circulation?
What about silver? Comparing the
two reports we find that the govern
ment has coined over 48, 100000 silver
dollars since our friend talked about it
in Doty's Office in 1896, and has in
creased the circulation of them $12,
100000; that is all of the increase they
could get the people to use. But they
have sent out $4,000, 900 more of
silver certificates, raising the total Of
this species of money in circulation to
over S4O3, 100000.
Then there is gold. When our
friend told us in 1896 about contrac-
ton, the governments coined stock
of gold was under $685., ZOO, 900; it is
now over 1852, ZOO, 900, an increase of
$288, 100000. The amount in actual
circulation then was under $456, OOO,
600; it now over 500, 900. When
increasing the circulation that enor
nous sum, the amount Of gold in the
treasury has been increased about
$33, 900, 900 at the same time.
Then there are the greeenbacks-th the
beloved greenbacks. They were an
endless chain to draw poor Mr..
Cleveland's coin out of the treasury
But you don't hear a word about the
endless chain business since Mr..
Mckinley and the Dingley bill got to
work. A sensible tariff law supplies
loAdO O1OtiSA ~ IhdU CIOy OOu Y Id 2
to worry about them. Since Mr..
Mckinley got in control the circula
ton of greenbacks has increased from
1927, 900, 900 to $311, ZOO, 900, net gain
Of "a, 100000.
But what has been the net result of
the action of the new administration?
1t increased the money circulation of
the country from 81 ,514, 9O3, 142 to ST.
| 931, i'll ,2O4, a net increase of over
! $416, OOO,O 900.
But it takes a ''per capita" to COM
plete a financial argument. Accord
ing to the Governments estimate there
| has been an increase of nearly $780,
| 900 in population since our friend was
so fearful of results in Judge Doty's
| office. It would take an increase of
over 100000, 900 to keep the per cap
ital circulation where it was then
But the Government has made up for
the natural increase in the population
and at the same time has increased
circulation from Spills per capita to
$25.31 per capita.
Considering that he is controlled by
| the money devil and Mark Hanna
don't you think Mr.. Mckinley has.
made a good president, to carry on
war successfully and at the same time
to so completely keep his pledge to
give the people plenty Of money with
! which to do business?
If any of our readers doubt this we
can show them the government re-
ports. If they doubt them, go to
loan agent and see how easy it is to