Democratic Sentinel, Volume 22, Number 27, Rensselaer, Jasper County, 23 July 1898 — THE PEOPLE'S MONEY. [ARTICLE]

THE PEOPLE'S MONEY.

* VICTORIES FOR SILVER. With Japan of the gold standard and 'With the English gold monome tablets urging the opsntog of the India mints to the frefe coinage of sHvfir,i the foreign outlook for the silver cance ls cheering. , \\ nl J( y* i} u , IU But certain at boiae are worthy of consideration. in, the first place, tlie authorization of $465,000,000 of government bonds cohtains no taint of gold legislation. The ' bonds tire “coin” bonds hi spite of the desperate attempts of the “reformers,” who strove to place this country “more firmly on the gold basis” shortly after the inauguration of .McKinley. But in addition to this- important fact it must be noted that the bill for the coinage of thei seigniorage was passed by both houses of Congress and that gold advocates were forced to vote for the measure. ) ,t) ... ~ When if is remembered that the monetary, “reformers” are the authors of the statement that to coin the seigniorage was to “coin a Vacuum,** the extent of the silver victory may be more ; readily estimated. Now the administration organs are satisfied to lfet the money > question in i Congress go over until the next session. Andwhen that session,meets, they will he still morg. anxious to postpone ttye day of discussion. The' fact Is, the people of the United States are becoming enlightened on this important question ami' the Republicans 1 see defeat 1 in farther ! advocacy of gold monometallism on their part.—Chicago Dispatch. Falling Prices. The certain effect of failing prices Is to bring about an unjust distribution of wealth in the interest of the, drones Who have fixed Incomes of, so .many dollars, and against the interest of the producing classes, who see their profits Vanish as prices fail. This discourages legitimate enterprise and industries and makes the only safe Investments those Which, like government bonds, give a fixed return of so many dollars. The lvalue of these Is Increased as prices fall, without the holders having done anything tp pasp s the , iqcrqase* and wealth is absorbed into a few hands. The effect of a rising dollar and falling prices is as certain as it Is subtle, and the mass of the people are deceived as to the true effect because they see only the same number of dollars as before going to the capitalistic classes, forgetting the Increase in their purchasing power. There fs truth in the popular belief that rising prices mean good times and falling prices bad times. As President McKinley, in defending his tariff bill in Congress, said: ' “The most distressing experiences in the history of the country—-aye, in. all, human history—have been when everything was lowest and .cheapest measured by gold.” Silver Parties Co-operate. The early State conventions which Are being held in different parts of the Union all Indicate .continued co-opera-tion between the different silver parties. This Is particularly apparent In the proceedings of the contentions in Kansas and Minnesota, where the utmost harmony prevailed. The present State officers were all renominated In Kansas, and In Minnesota the union ticket is headed by the famous silver man, ex-Congressman John. Lind, who ran 50,000 ahead of his ticket in 1896. Good news comes from other States as to the character of the candidates. It is evident that many fqrmidable nominations are being made. Gold Up, Wheat Down, For more than a twelve-month Australia, India and other Important countries, generally competitors with our wheat and other food products, have been bidding them up against the depressing effects of the gold standard. When they raise full crops they will no longer do this, Then, whatever puts gold up will'put wheat down. Look out for the full effects of the gold standard as soon as the famine.Jn the southern hemisphere Is no longer a factor in prices. c Fatal to Prosperity. The issue of bonds is fatal to prosperity because it takes money out of business enterprises. One can Imagine how much greater business would be if Instead of taking $500,000,000 out of circulation $500,000,000 was added,— Silver Knight Watchman.