Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1919-08-20
4WEDDED TO HIS IDOLs.v

aWEDDED TO HIS IDOLS.v
Under the above headline. tn
brilliant and versatile editor OF tn
Manchester Press used nearly col
umn and half Of the last issue Q
his paper with financial discourse
replete with assertions. many Q
which would be exceedingly impor
tant If they were in accord with actua
4 facts.
Our "idols" are justice and right
as we are permitted to see the right
and we frankly admit that we ar
welded to them. We take no ex
ception to anything said by on
neighbor on that score. Neither d
we care fig about the epithets which
he used in describing our "idols," be
cause calling names is not argumen
or instruction. With that much o
/, the discourse" laid aside, we viii
now deal with his manufactures
( facts. Il
II AS a back ground for our comments
we will call attention to the financial
condition. Of this country during the
q . =. : d
closing years Of the last century
During that period the scarce money
men, the owners of disloyal wealth,
schemed to depreciate the value OF
property, by making money scarce;
schemed to double the burdens OF
everyone who owed debt; schemed
to double the value Of all notes and
bonds and other evidences Of debt
The scarce money schemers COM
menced by securing, by stealth and
cunning, the demonstration Of silver
I in 1873, and from that time until the
campaign OF 1896 they endeavored. in
season and out Of season, to reduce
the coantry's money supply. This was
their program: ,ss5at
i. Retire from circulation the
$s4s.OOO,0oO Of green back currency.
2. Retire from circulation /. the
$1O1 ,OOO, 900 Of legal tender notes.
8. Stop the coinage Of silver dol
lars.
i. Make our ;5oo,ooo,ooo Of silver
money redeemsble IN gold.
s.. Then raid the treasury for gold
and oblige the country to sell gold
bonds to the big financial interests Of
New York and London to get q gold
to take up the paper money present
ed for redemption, IA. (.
The financial history Of those years
cannot now be changed BY manufac-
tursd facts.
ItEis fact that the scarce money
men procured the enactment of law
on November !, 1893. which repealed
all laws providing for the purchase
Of silver for coinage purposes. 4
It is fact that the big financial
interests Of New York City raided the
Federal Treasury for gold, and pre-
cipitated one Of the worst financial
.panics in the history Of the country.
It Is fact that this country had to
resort to bond sales, in time Of
profound peace, to procure gold with
which to meet the demands of the
raiders. And do this when there were
.$39, 266.624 standard silver dollars IN
the Federal treasury, which could
have been used to redeem any OF the
paper money presented for redemp-
ton. But at that time the finances Of
the country were so absolutely under
the domination of a half dozen big
bankers, that John G. Carslile, the then
Secretary Of the Treasury, did not
dare to interfere with their program
by offering them silver for the paper
money which they presented for re-
demption. That is the kind of work
which our neighbor and his good
friend Roberts is commencing and de-
Tending.
During the year 1896, the business
interests Of this country were burned
at the stake. During that year there
were NO less than 1925 business
failures in the United States involving
the enormous sum Of $276,S15, 749.
During the year 1895, Europe pur-
chased from this country S8,415,230
bushels of wheat, paying therefor only
a fraction more than 81 cents per
bushel and it is estimated that the
average price received by the farmers
of America, who raised that wheat,
did not exceed SO cents per bushel.
BY consulting the files of this paper
we find that on February 6, 1895, hogs
sold in Manchester at from $3.50 to
$3.50 per hundred, steers from $3.50
to $500, veal calves from $500 to