Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1901-11-08

the last democratic administration was
such that money was driven into hid
ing. Mr.. Bryan assumed that the
necessary money for the transaction
of the business Of the country vas not
in existence, and upon this theory he
proposed that the government create
an unlimited amount of cheap money
by means OF the tree coinage OF silver
at a ratio Of 16 to l. Republicans in
sisted that this would not remedy tue
scarcity of money in circulation; that
the effect would be to cheaper all our
money, further weaken confidence.
drive all gold out of circulation and do
incalculable harm to the public credit.
Mr.. Bryan replied that only the gold
barons would suffer, and that there
was no other way to stay bankruptcy
and restore prosperity to the 'com-
mon people,"
There was no dispute as to the scare
ity of money available to the business
necessities of the country. The differ
ence between republican leaders and
Mr.. Bryan and between the republican
and democratic parties was as to the
means to be employed to restore pros
porous business conditions. Mr.. Bryan
said open the mints. MI. Mckinley
said open the mills. On one hand it
was contended that we must cheaper
the dollar, and on the other hand it
was insisted that the thing to do was
to give the dollar honest employment.
On the one hand it was said that there
was no way to increase the volume of
money in circulation except by reduc-
ing the purchasing value of the money.
and on the other hand it was urged
that the way to increase the available
money III the business channels of the
country was to restore confidence in
the stability of the money and conse-
quent!y in the stability of invest
ments.
The plan proposed by Mr.. Bryan
and hi" >"rty wss rejected at the polls
in 1896 and the opposing plan was ac-
cepted. Very soon money Withdrawn
from S began drifting back into bust
ness. Very soon the industries
showed revival. The country now is
in the full tide of prosperity. Mr..
Bryan was wrong. Republican leaders
we're right.
There never WAS 30 much money i'll
circulation as cow. The earning pow
or "f money has been cheapened under
the lew OF competition rather than 10y
means of debasing the money and re-
pudiating debts.
The contention of republican leaders
in 1896 was that we did o need TO go
into the business of manufacturing
cheap dollars in order to provide an
adequate circulating medium. 1t was
admitted that the amount of money i'm
circulation, the amount of money EN-
ployed, was far from adequate. But it
was insisted that this trouble would be
remedied by removing the threat
against the integrity of the dollar. BY
removing this threat, by giving nation-
al guarantee that the purchasing value
of every dollar should be maintained
on the gold standard, confidence was
restored, money came out of hiding,
the mills we're reopened, employment
was given to labor, the free soup
houses we're closed, business every
where revived and the country is now
overrun with remunerative employ
ment, particularly employment for
labor, and the United States is recog-
nized the world over as occupying first
place in the race for worldwide COM
mercial supremacy.
The change in five years has been
marvellous.
Mr.. Bryan and his party were right
in their naked assertion that the coun-
try needed more money in the employ
ment Of the people. They were dead
wrong in their method of procuring
the money.
The country in 1896 needed more
good money in honest work. 1t did
not need more bad money in any kind
of employment. The country now has
abundance of good money-money in
employment and money looking for
employment.
The times are good because money
is looking for work more than men are.
Sioux City Journal.