People's Pilot, Volume 6, Number 19, Rensselaer, Jasper County, 29 October 1896 — Gold Standard Means Bankruptcy. [ARTICLE]

Gold Standard Means Bankruptcy.

To undertake to do the business of the world on a single gold basis of measurement and equivalents means loss, bankruptcy, poverty, suffering and despair. Debts will grow larger, and taxes become more onerous. The farmer will receive small prices for his crops; labor will be forced down, down, down, and there will be a long series of strikes, lock-outs, and a suspension of production. Those who own proerty, but owe for it in part, vjill see their mortgage increasing in proportion as gold acquires new purchasing power, while the property itself will be shrinking in value. There will be no relief, it must be kept in mind — for gold will be the only recognized equivalent, of values, the stock of gold with its power will be constantly growing; and the circle of wealth will be uniformly contracting.—Chicago Tribune, Jan. 16, 1878