Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-07-31

portion of her reserve in silver.
1t was at this time the tide began to
turn. Gold began to be produced in
unprecedented qusntities, then the
other causes We have alluded TO
changed the face OF the discussion. 1t
soon became obvious to the advocate
of silver that the enormous influx OF
gold, il continued, would elevate
prices, reduce the pressure OF debt,
and furnish every good thing that was
expected to flow from the free coinage
OF silver. 1t became equally clear that
this condition of affairs would not
prove acceptable to those who profit
by the scarcity of money.
The time is coming, as forcasted by
an official of the treasury, VIXEN there
will be an attempt to limit the coinage
OF gold, but any attempt to do so now
would be unsafe. The plutocracy
have gone to work as craftily to shut
off the money supply, SC that the peo-
pie at large will not be benefited by
the increased output OF the gold mines,
as they did to demonetize silver nearly
thirty years ago. The Fowler bill is
a step in this direction. 1t proposes
to retire the greenbacks. which would
cause a reduction of our currency by
something near three thousand and
fifty million dollars. 1t paves the way
for the ultimate retirement Of silver by
first making each silver dollar re-
deemable in gold, thereby converting
by the fiat of legislation all of our
silver from an asset to a debt. This
would result in a further reduction Of
our currency by ear five hundred
million.
Should the Fowler bill become a law
its first effect would be to create a hole
In the money of the country by quite
eight hundred million dollars, which
would offset the increased production
OF gold for many years to come. 1t ii
proposed in lieu Of the g%reenbacks re
tired that national banks shall issue ar
asset currency, !. e., a currency secured
by the office fixtures, to replace them
but the contraction and expansion o
this currency depends upon the will o
the banker. Should it be proved tina
increasing or diminishing the supply
of paper money has an influence ii
%elevating or depressing prices, nj
man would be able to estimate the
value of his property for any giver
length of time, but it is not certain
that the volume of paper money, un
less it be of final account, affect
prices.
From the foregoing it will be seel
that we have to make the same fight OF
the Fowler bill that we have mad
against all the financial legislation o
the Republican party since 1868. Th'
Fowler bill presents the same question
that were raised in the campaign o
1896. Are we to permit the enemy t.
declare what portion of their polio,
Democrats shall attack Will GU
gold bug friends oppose or support thu
Fowler billp The financial question
will not be out of the way until 1t i
settled right. Efforts to shut off dis
%cussion will prove futile. The Demo
cratic party will have to line up ont
way or another on this piece of legis
lation. Let the lines be drawn ant
the issue squarely made. When thi
is done Republicans who are masquer
aiding as Democrats, will be fount
upon the side of the plutocracy, a
they were in 1896. The fight of tn
future will be to retain the adva mag,
Mother Earth has conferred upon be
children. She has given us gold tt
take the place of silver, and now W,
must guard against efforts to restric
the coinage of gold. The none,
question is exactly where it was II