Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1903-02-10
OFFICIAL PAPER OF COUNTY

OFFICIAL PAPER OF COUNTY.
The Money Question Still An Issue.
The demand for money equals the
the demand for all the things that
money will provide; it includes the
homes Of the people, the necessaries
and the luxuries of life, a range of ar.
ticles as vast as all that money will
buy or human desire may covet. Only
the rapidity Of its exchange from hand
to hand In the purchase Of commodi-
ties places limit upon the quantity
to be issued for public use. Vast sums
collected from the people and stored
in government vaults, while there, IS
as barren Of public good as though it
had never been created.
The banking corporations are less
concerned about the materials of
which money shall be made, than they
are about whether the people through
their government shall issue it or
whether it shall be issued by the cor
porationS. There is a possibility of
money issued by the people, through
their government, coming into public
use through direct payment for SER
vices rendered as for salaries, public
improvements, transportatio n of the
mails and other public services, while
money issued by the corporations can
only get into public use by having
been borrowed from the banks, and
for. this use stipulated interest Civ
ed to them.
Eleven years ago in the PLAIN
DEALER, speaking Of the republican
theory of protection of home interests
and industries and its action on the
silver question, said that "Anyone
eonversant with silver mining knows
that reduction of ten per cent in
prices of silver bullion would make a
multitude of mines improbable, and
larger per cent than that would be
an almost fatal blow to that industry.
The industries which depend upon
silver production must suffer and the
extent can only be understood when
1t is considered that in all our silver
producing territory all trades and &C.
equations are dependent on the pro-
duct and its price, fact that is dem
enstrated In the sudden depopuliza-
tion and desertion Of cities where
mines have stopped their output. The
habitation of such state as Nevada
depends absolutely upon it's silver
mines. so far as its resources are
known.n
What the PLAIN DEALER thought
1t foresaw when the foregoing was
written and published has become a
realization today, not only that but
they whose theories and policies have
been adopted with the results then
prophesied now point to Nevada,
whose industries they have ruined
and whose people have been driven
elsewhere as "rotten borough"
In our article published over ten
wears ago after pointing out the ca
fanatics in store for our silver pro-
ducing regions, we said, "Buta wider
and deeper danger lies back of this.
Final demonstration of silver would
create vacuum in the peoples money
that must be Immediately filed, and
In the absence of the precious metals
credit must come in, that is promises
to pay, gold would would become too
valuable for general use and be re-
stricted to the wealthy, in word, the
rich would get pay and the mass of
OF the people will get promises"
The Fowler bill pending in congress
as unfinished business from last SEES
sion is confirmation of what was then
predicted. Although the quantity of
money has more then doubled since
then, clearly confirming the demo-
cratic doctrine of the guam tative the
DRY as feature essen tial to prosperity
The purpose of this measure is to
flood the country with unsafe and I'M
secured promises to pay in the form of
National Bank or Corporstion money,
instead of money issued by the gov
eminent. A part of their scheme is
to demonetize the silver dollar by re-
coming them into subsidiary coin
whose legal tender is five dollars. The
issue OF paper money is to be of no less
denomination than ten dollars which
will constitute fractional silver, nick
les and cents, the money of the labor
Ing and producing classes.
Noact could be devised which would
DO SO much to put legitimate busi-
ness at the mercy of spectators. The
possibility of the Fowler bill has ap-
preached a possibility through the So
phistical arguments of the gold stand
ard theorists, whose efforts in that be-
nall are likely to bring forth a har-
vest OF unsecured bank paper, as the
sound money" they have clamored
for through all these long years.
A Toast That Is a Roast.
w. II. Andrews of Grand pon;d,