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Show BUSINESS INTERESTS. SHRINKING PRICES THE RUIN OF TRADE. Tha Gold RUudatd Ueatruya tha A r eras Uunluei Man aa Melt tba Farmer Free Silver Would Vent lit tlia Vat Majoritj. The greatest mystery of the age 1b why business men, not gold gamblers or railroad wreckers and reorganizers, desire to limit the standard money of the country to the shrinking volume of gold. All intelligent men understand that the money in circulation and the property for sale are reciprocally the supply and demand for each other, and that general prices rise or fall with the increase or decrease of the money In circulation as compared with population and business. Theoretically, everybody understands that a shrinking volume of circulating medium produces falling prices; and, In addition to the recognized theory, the practical effect of cutting off one of the money metals, and confining the print or stamp of the government to gold alone, has more than doubled the purchasing power of money and dif. minished general prices more than one-hal- Every merchant and business man who buys commodities to sell again is compelled to sustain a loss in the shrinkage of value or market price of his goods while on hand. More than one-ha- lf of the value of goods generally lias disappeared in the last twenty years, and every man who had com- modities in hlB possession during that time was compelled to sustain his share of the loss, says the Silver The effect of falling prices embarrasses the business in an In many ways. It destroys the capacity of his customers to buy and pay cash, and makes the extension of credit extra hazardous on account of the dilllculty men have in disposing of their prop-?rt- y or services to obtain money with n'hich to pay their debts. The business men of the United States who have accumulated property by honest Industry have been harassed, impov srished, and many of them thrown into bankruptcy, by falling prices oc sasioned by scarcity of money. If the business men, who are the greatest sufferers on account of the difficulty of contending against falling pi ices, would examine the question of enlarging the volume of circulation by returning to the usages of all the ages previous to 1873, and unite in an effort to obtain relief, prosperity would surely follow. It is through the service which gold gamblers, bondholders, stock Jobbers and railroad wreckers obtain from business men that the gold standard has been fastened upon this country. We realize how difficult it la for men engaged In enterprise of any kind to differ with the banking institutions with which they do business. They do not realize that those institutions which are not in the hands of the wreckers and extortionists, float along with or follow the bank syndicates of New York nnd London, which are engaged in purely speculative or wrecking operations. Legitimate banking cannot thrive while the people suffer from failing prices. Falling prices make it unprofitable to borrow money at any rate of Interest, because falling prices destroy the profits of business. Falling prices also destroy securities and make the loaning of money extra hazardous. If the legitimate bankers of the United States .would rid themselves of the influence of the great paramount banking syndicate who make money by speculation and not by legitimate banking, they would fine it to their interest to advocate a sufficient volume of money to enable the community in general to prosper. The banks are engaged in the loaning of money, and the loanable value of money must necessarily fall with the price of ether property. In ordinarily good times the people will borrow all the money the banks have, at from six to eight per cent interest, and use the same to accumulate wealth. At the present time no man can use money to create wealth, because be must first Invest in property, and the fall in the price of prop-art- y will destroy all his gains; consequently the rate of interest has fallen Choice loans on gilt f. about in demand at from are securities edge two and a half to four per cent, and e even what Is called security to the had next so to is liable today year. No legitimate tankers nre as much interested in restoring the volume of stability of money, so as to as the balance and prosperity, prices of the community. The number of persons really interested in falling prices and wrecking fortunes Is com lf paratively small, perhaps not of the population of of one per cent the country. Take, for example, people engaged in reorganizing railroad companies, which is confiscation of property rights by railroad wrecking. A railroad Is allowed by the management to become Indebted for current expenses, Suit is brousht. n receiver appointed, and tb road sold under the order of the court requiring that the current expenses shall he first paid This requires a lump sum of money, sometimes not very large, but large Knight-Watchma- n. one-hal- gilt-odg- one-ha- enough to make it impossible for as body outsidr of tlu- pool 10 pay iii,m off and got possession of the road. The pool furnishes the ready cash, pays the Judgment and such of the indebtedness as Is held by the pool for their friends. Outsiders, whether holding slocks or bonds, are ruled out. The reorganization committee, as it Is generally called, take a commission of several millions for the reorganization, and then Issue to themselves and their associates new stocks and bonds which are said to be on bed rock. The stocks and bonds are sold, and when the community has bought and paid for them the road is ready for a new reorganization. They have reorganized out of the railroad companies In the last five years a vast amount of stocks and bonds, variously estimated at from two to four thousand millions of dollars. These stocks and bonds, thus repudiated, belonged to honest Investors, many of them calling themselves business men. What Interest had they in a system which contracted the volume of money, and produced the falling prices which caused the wreck of the railroads In which they were interested, and confiscated their holdings? We are aware, that the trembn debtors who ling and are compelled by the great wrecking, banking syndicates, to assist in making money scarce and dear against their own interests, are not, strictly speaking, free agents. They are not responsible for the wrongs they ars compelled to commit upon themselves. They are similarly situated to a con victed gentleman Japanese in forme times who was given the option to commit Lari karl by disemboweling himself or to be ignominiously slaughtered and hiB property confiscated. But there are a vast number of bankers and business men who are not real ly dependent upon the smiles of these great money gambling syndicates, and who could unite with the great mass of the people, restore the money of the constitution, and secure happiness and prosperity for the American people. We appeal to them to study the question of a shrinking volume of money and falling prices; study it theoretically and study it practically. The object lessons of the results of contraction are everywhere visible, and everyone who will reflect will realize that it is not twenty years of profound peace and abundant harvests, but contraction of the money volume, which has produced universal distress. - T: 1 I? A PIT tUj.Frr J1IlUIlil1 ACTION llov to 1! ALONG STATE IS ADVISABLE. ATKS j Tela-inp- Do- - liUDliET OF FUN. OITJl tha people to utilize it, and to get the some rapid postal facilities fur rltvtrlr mall through the SOME COOD lolcgraph which tho people of every AND SELECTED, Country In the world enjoy. parUimt, cnabl LINES Reach tha Uppraa.lva Monopoly Work for lha of a 1nbUe l'o.tel to the I'lV.iuxlice fT.i.i: ,,hc:nal h A rrolmlil Ke Kjr for Proportion suit Took tha Gold Cura nr Almost Triupled to (lo to tlia Hhmdyka It An POINTS FROM THE PRESS. d Our financiers have been contributing to England's hoarding by the demonetization of silver in 3873. During the twenty-fou- r years of silvers degradation John Bull has added millions to his wealth, while the United States has been forced to vote bonds to keep her head above water. It is to be hoped that the people will come to their sem es sufficiently in 1900 to vote silver back to its lawful position as a basic money. Fort Collins Argus. short-sighte- Country Kitten. Tk Country Kitten. The of New1 Orleans T WAS a summer of recent date says: The good work boarder, wliu d Inflated high with has begun. The North Carolina pride. Commission last week reduced Strolled uut at dunk, the rates on telegraphic messages in order to within the state to fifteen cunts for Inspect tlia country aide; ten words, the reduction to take effect Ami ah, it ia a pity a That 1st. telegram is, September that Thla hero of my can be sent, after September 1st from aoug any point in North Carolina to any Espied a genii other point in the state for fifteen Let the law call it what it may, the A a a cents, a reduction of from 40 to 7u per forfeiture by the Pennsylvania coal untarlng along. cent on the present rates. companies of the earned but unpaid A playful, prancing kitten, This is on the line suggested some wages of the dainty, dancing kitten, striking miners is s A time ago, that the best way to deal species of theft in with A mold entrancing kitten. comparison Meandering along. with this monopoly is to attack it which the h.lding up of railruad trains of the undoubted right e hoarder, who through the Is Industry, and the men It wa tha aiimmer Admired tlie kitty-ca- t, states to fix telegraph tolls within who do It arc thieves with whom a sweetly he Implored her, Dc their limits. When the power of the sneak thief nh.mld be ashamed to asso-ci- a Ami Turn close enough to pat. company has thus been crippled, and te. C lo v e la lid Recorder. Oore aucli a it tie beauty, dear. Turn closer to me, do. its exorbitant profits cut down, it will Oo wont T Well, then, my duly clear be an easy matter to secure cn act to nature Dont say it is human la dual to do to oo: from congress providing for the Fed- monopolize land while thousands are Oo pretty, purry kitten, eral control of the telegraph. It was denied the right of humes. There is Oo funny, furry kitten. Oh. plcaae dont hurry, kitten. in this way that we secured the Inter- nothing human about it; it is Inhuman. Im doin to turn to oo." state commerce law. Congress would It is hog nature, not .vet civilized or never have passed that law Lad nut Christianized oul of humanity or its the states taken the initiative, created laws and institutions. New Dispensa- It was the rummer hoarder, who railroad commissions and proved tlia. tion. Held tight his dainty nose, And wished he could afford a new state regulation was In the iutcres'. suit of clothes. of the public and necessary fur its Prosperity which is haunted by the And In an earthy lied he made oppression protection from extortion, Ilia proud array he nunk, ghosts of started millions in other And got a suit of ready made and favoritism on the part of the rail- lands is nut the kind of that prosperity By marketing hla trunk. road companies. By th? by. the rail- the American people desire. Moreover, then shouted Populism" owners road such prosperity is bound to be temporAn Eya for rro,..-Ma- a as the Western Unions friends aie do- ary, for even a gold champion, great ing though he he in promising, can scarceWhen it is shown that the states ly give us the assurance that there will can control the telegraph and fix the always be general crop failures iu Inrates of the telegraph tolls, and that dia and Argentine and short crops in it Is to the public advantage for them Europe. But, even now, with famine to do so, preventing gross spoliation ai,roaii amj plenty of tariff at home, we and robbery, there will be little d m- - ave nothing like genuine prosperity, culty in getting favorable action rum Merey a temporary rise of wheat and a congress, either in fixing rates, or, be fjurry speculation in Wall reet. Wle-1 ter still, in establishing a postal xational Bimetallist, Washington, D. graph; for while a reduction In rates C. Is one of the Improvements we need In the telegraph, it Is not the only one. Direct legislation is the only hope The action of tha North Carolina of escape from legislation tlict Is as obCommission in reducing the tele- jectionable as a monarchy. Chicago graphic tolls In that stately all the more Express. West-er- n gratifying for the reason that the THE POPULIST FIELD. Union made a fight against it; but All men are equal in the sight of as we have frequently shown, whoever law, used to be at least an ordinarily Congressman Sulzer, of New York this question Is brought up fee disy it is a bare respected maxim. who Is the only representative the real cussion and action, the Inevitable con- faced falsehood. Duluth Labor World, people have from the far East, introclusion la reached that the present serduced, during the last session of Con- vice is poor, and the rates charged exThere was a time when they (gold gress, a bill for .the foreclosure of the orbitant This is why the Western standard papers) fiercely contended Pacific Railroad mortgages and the She Oh, air. Jones those two love Union is afraid to have the matter dis- that the value of gold was Invariable, of said roads by the governoperation rely poems of yours In this weeks a for the discussion always or, as they choose to put It, "a gold ment. This would be a terrific blow cussed, a sults to its disadvantage. dollar Is always worth a gold dollar, He (a poetical star of tbs seventh at the railroad trust, and when ConIn the North Carolina legislature a but some day it will dawn upon them You mean my two sonneti convenes in the December popugress magnitude) session last bill was introduced at the that a gold dollar which will only pur- in the Weekly 3undew. lar demand for the passage of the the telegraph rate at fifteen chase a bushel of wheat is not so near She Yes. How exquisite they both Sulzer bill ought to be demonstrated fixing cents between any two points in the valuable as a gold dollar which will are! by long petitions. state. The Western Union sent its purchase two bushels. In short, when He (much pleased) And which did lobby down to Raleigh to watch the admit that the Klondyke finds you like the beet? There Is an editor up In the country, work, and the hill was beaten by ex- they may have an effect on prices they abanShe Oh the longer one! says the Grand Rapids Workman, who actly one vote, so clowly did the lobby don the contention that gold has fixity a readers before flaunts his prosperity calculate its strength and use its vic- of value and accept the quantitative Took tha Gold Cara sheet, by the way, a species of literary tory. But It was a barren victory, for to which all the great econotheory production which has had a great run the State Railroad Commission has the mists have adhered. Mendocino BeaTwo men met on a Broadway cabli since Hanna took charge of the trusts right to fix telegraph rates, and It did con. car yesterday and one said Hello! to and the country. This editor is ow- so last week, making the tollB exactly the other. The other responded in like ing a number of bills payable in this what the legislature had proposed. The manner arl then the first man said: Is a curse which aggravates Poverty city, which has been the cause of much Western Union could not get in its every affliction which visits mankind. I havent seen you In some time! anxiety on the part of his creditors. work this time. Where have you been?" In its a makes home sickness, presence The letters that he has written to his "Been taking the gold cure. the reduction In the tele- a den of wretchedness; in death, a Although " S that eo? Never knew there was creditors and the slop he has been givgraph rate in North Carolina is very chamber of ghastly horror; in sorrow, ing his readers are as far apart as the encouraging, being a cut of 40 to 70 a waste of utter desolation. It robs any necessity for it in your ease!" two poles. He tells them in his letters Oh, I dont mean the kind you mean. per cent on existing rates, it is not op- - love of its sweetness, and tears asunder that business Is simply rotten; that made I up my mind to go to Klondike Commission Railroad has the of ve; the dearest ties humanity. It blights there Is no business and no sign of press! handsome margin of profit, warm, young, joyous life, withers youth and got as far as Kansas City. I a left very aB they were paying $15 a day any, no money moving, not a dollar In as tho following table of charges in and mocks old age. In storm and cold. thought sight, and that the country has gone to other countries for telegrams show: In heat and draught, they with whom wages in the diggings I might catch onto a job and make a good thing ol ruin, but In his paper oh, my, what Telegraph rate poverty dwells must suffer a hundreda sweet song he gives them! Just for strike Cents. fold. When a torrid flood poured over it until I could hunt around and all the world, like the Herald and Press a rich claim. In Kansas City they con12 was Britain of the children Great the land, it the and the rest of the jabber-wobb10 poor who gasped away their lives In firmed the statement about the $15 per, . France sheets. 32 agony, the mothers who faltered and but they hitched on the information Germany that the days were thirteen months 30 fell at their duties, the fathers who The fact is. this newly restored pros- Belgium there. That cured me and I came long 32 went mad and died, all were victims of Switzerland back. Fifteen goes l.ato thirteen, nit perity reaches only the H poverty. Yet it Is so useless, so unAustria s. and falls to benefit the New York Comtimes and nit over. The Western Union can afford to necessary. The bounteous earth never mercial Advertiser. The Chicago Express says: in North Carolina bade It come; it Is but a hideous spec"The press Is filled with wonderful send a telegram can do in tre, conjured up by a mans inhumanity the government than cheaper restories of Western prosperity and Quit fralnblt. The countries. state to man. Industrial Advocate. of these ports of mortgages paid off and can- any a much has smaller Carolina) celed In the States of South Dakota, (North A railroad detective who travels alThere Is no area than the several European counNebraska and Kansas. donnt some truth in the fact that peo- tries, save Switzerland and Belgium. most constantly between Chicago and h the size of France, Cleveland reports that the number of ple are working hard to get out of debt, It is only ten cents for tramps now on the road exceeds anyis toll only the where of who have hut the thousands people When we thing he has ever seen. He says that the of country. all parts been crushed by the grinding processrailroad and all it is net fair to call them tramps, for that further, acconsider, es of contraction are not taken Into coun- - they appear to be mechanics and labor-tr- y in this are rates cheaper similar Of millions the count in these reports. na- - prs out of employment. iu the than The detective mile Europe, per of Indebtedness canceled, moBt of It is reached makes the incredialmost the conclusion that in tural question was done by the sheriff and the land lo Western Union can operate its lines ble statement that he counted 197 now occupied by tenants. more cheaply here. Thus the North tramps on one freight train aB it left Commission would not have Grand last Tuesday night. That eighty cents for wheat is made Carolina of any hardship had it fixed Pueblo Crossing Courier. been guilty payable In gold, too. Pioneer Press. the rate at ten cents instead of fifteen, A her nit. The farmers will never get the latter rate it probably The Omaha Labor Bulletin has some of one per cent, of It in gold. but In giving to prevent the telegraph com- - Valuable figures as to the vast comwished Journal of the Knights of Labor. from having an excuse for the merclal mortality of business men by And where Is the farmer who la get' pany starvation wages it pays its comparing the directories of that city wretched ting 80 cents per bushel (even in not its favored employes, for 1887 and 1897. In 1887 there were employes silver dollars) for his wheat? who gets $100,000 a 669 business firms in operation in eigh-yea- r, its like president, The farmer has to pay the freight, retwice as much as the President teen lines of business, of which 448 member. of the United States, but its un- - went out of business in the ten years, fortunate operators, whom it had so I Yet It is business men" who, for Mr. Mumblechook (singing) Bid met down since the failure of the posed business reasons, are the main good-b- y Untiring Gently, and go props of commercial and financial sys- The cry of some of the New York big strike a few years ago. Miss Effle Sharp If youll going to Tbe action of the North Carolina terns which force them by wholes&Lt sing It like that on the sight they papers against the silver craze" is less Francis-goo- d like the roar of a lion than it was a Commission is the beginning of the Into chronic bankruptcy. San wont atop to bid you gaod-t, will restore co this Star. work that govyear ago. Silver Tlmes-Democr- at Ball-roa- at, -- high-grad- terror-stricke- Unm-ente- to-da- y. I I To-da- er wealth-appro-priato- rs wealth-producer- one-fift- one-ten- th I 40-ce- nt sup-grou- nd y. Knight-Watchma- n. |