The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1878-02-22

have so far considered the rise in
he yalue of gold since 1872, as demon
trated and measured by the average
all I'm the prices Of commodities. But
he Else in It's value; as shown by the
all In the prices OF land and labor, has
'een vastly greater,
IND H AS CONTRIBUTED MUCH MORE
POWERFULLY TO THE BUSINESS
-, ---'.9 PkOSTRATIoN
prevailing. Land and |
abor .5immeasurabty Cvershadow in
and iPporta..ce the aggre-
gate Of mere merchandise that was
eyer fnsexisssTlce at any given period.
Land,aia All civilized cou ltIies, is the
2rea6 basis an l buIwark of credit, and
4 general or considerable TALL in its
prfeeslsas AeYer' failed 20 be .rninOus to
every Commercial and industrit Il inter
est. The inevitable consequences of q
rise in tAe value OF money, or, in 9TH
er words, s0t generally falling prices,
are stag9ation of industry, decreased
amonnt OF employmen and shrunken
wages. The iuxaiies OF the rich and
the comforts OF the middle classes are
at such times largely eurtalled, and in
many instances cut off altogether,
but the wage classes, even when they
earRmofe than the needs OF subsis-
tenee. rarely indulge ip-superfiuities or
in living. For the pur-
pose of getting ahead in the world,
they piRch and save, and live in the
most frugal manner consistent with
health and. strength. Hence, during a
period OF falling. prices, the demand
for actual necessaries is impail ell the
least; and the demand for things not in
exiEent .eeqnisition- is : impaired the
most. "A, constantly increasing pro-
portfon.of the aggregate earnings of
labor and capital must be appropriated
TO the actual necessities of subsistence,
and consequently
EHR FALL IN.THErR PRICES WILL BE
p - " THE LEAST.
: ThGs4ggFsgabs of wages will be
largely reduced, because there: will be
no Incentive to the employment of
labor beyond that decreasing amount
Fequffedto produce the necessaries OF
life, and produce also such supply OF
comforts and luxuries as will suffice
for the few who may still be- able to
indulge in them. The profits of both
these indfs of production Will be re-
duceds t0 the. lowest point consistent
with their being. maintained at all. Ii
ued rise m the value of money and fall
Ii Setferai prices would destroy all
credit; and that the resulting suffer
ines of the people would drive them to
seek reliefin u direct exchange OF COM
., The price. of the raw material which
enters iatO all kinds of manufacture
falls in a greater ratio than do the
necessities of life, because the manu-
factufed article can be dispensed with
white the'cOarse food essential to the
existence Of the laberer is indisDenss-
BILE. The fall Of the prices is, eft course
greatest I'M those articles for Which
ther6is the greatest decrease in, the de-
mandARhdeall experience shows that
the depressing effect upon the prices
Of property Of an Increasing value il
/ money faHs fftstln poiht of time and
gFeatesU iRsdegFee;on luxuries, and
THE TAGE. CT AssEs. LOSE HALF THEIF
14eCUsToMED EARNINGS
throuSkfa reduction of their wages
aad m6fesssPecially through unsteady
employment and lack of employment
altogeIfers. This is not compensated
by o. corresponding fall in prices OF
wbat:feeds them. On the other hand
the diminuation of their incomes in the
very great fall in the prices of what
they buy. These obvious principles
furnish an easy explanation of the
present explanation OF the present de-
pressed condition of labor and real es-
Moneyis the oxygen of exchange
and when, through decrease in guam
tity, it is, rising in value, commerce
and industry become asphyxiated
The business of the world is now
writhing and sitting under the ex-
hausted receiver of standard shrink
ing and Sflrunken to the continually
Rppreciatihg metal of gold alone. Saw
ings, banks, trust companies, and in
surance companies, 49,.
ARE TU4RLING INTO RUIN EVERY DAY
in aliparts of ths country. In the great
majority OF cases the real estate securi
ties, aole sinking in7value on their hands
were judIciously, selected. Their mort.
cages are weak pot because they were
dishonesty or unwisely taken, but be.
cause prices have been struck down by
Iegisl alton, impossible to, have been lore.
seen and guarded against. From every
city in the u nion-form Galy eston to Ban
gor, and from New York to San Francis
COVE have but one report. OF San Fran
cisco, where business has always been
done on coin basis, can speak from
personar knowledge. Outside property
IN all the cities has ceased to be basis OF
credit, while inside property is dull OF
sale, and has very largely decreased IN
price. The columns of the local news
papers afe filled with notices of FORE
closures Of mortgages and OF sherihs'
sales. More property Is being sacrificed
for taxes than was ever before known in
the history of the country. The fall that
has taxed place IN the price of real es-
tate under the menace and approach OF
gold payments Is not confined to the Unit
ed States. Wherever gold standard has
been or is being established q similar de-
preston prevails.
In support of this proposition MIR.
Jopes Ahoteds frpm the London Econo-
mist and other authorities,
| : sAt1he; eloseee his argument Mr.. Jones,
apolegkzjng SpF the necessity Of obtrud-
| ing personsl masters upon the Senate, de-
ffeSded HfIseif ag3fnst the charge Of ad-
| vQsat the feha liitation OF silver from
l01Wort1y ana sinister motives. He was
mot id6S6sf64g 70 the3abored endeavor to
Discharge ;iAAs action by the statement
that he IWas, an owner in the bonanza
mines, and that his personal gains would
tbe diEecsIy and Immediately enhanced by
silver GENERALIZATION. He denied that he
ever had Eny considerable interest in
those mtNeS; and what he had has long
been disposed of. He did own stock in
lone. OF the non-psying mines on the
COmstocGf4odeg This mine ceased to be
Neutrality-suspicious. than three years ago.
A-Vast AMOUNT has been paid by the
stock defst To carry on the explorations
OOntinuou sly made since then, That II
would ever hecnme q productive mine is
q matter OF only distant hope. He had
no investment in productive silver min es
and. his inEestments in non-productive
fsiIver mines are much less than in mines
(which .pf5dQce gold exclusively. He adj
yocates tha- demonstration OF silver be.
cause Justice and eKpediency demand It,
and becaule- even is It does aot restore q
yalil -mdasR Sc of prosperity, It will check
! the rapidly spreading bankruptcy and
Poverty Which threatened to oVeI WheIm
thA eolIaSkE. e-=-z's-.~
He slsordenQuncedthe New York press
charge that the Bonanza Mine owners OF
any 6Od Y Sise hAa raised fund to be cor.
lru1tly-Qzad in promoting reconciliation.
| OF the, EoIlr gentleRen composing what
As. kIsvrS ks the BShAnzG Arm, he beItev.
ed. that the two who have personally de.
voted an the years OF their manhood to
gold md ktGerr Hlisiag favor reanonetiza-
ton. The O1hef two who bave always
| been engaged In business pursuits, and
hevef pr ideally engaged IN mining, he
| believed were opposed 70 RECOMMENDATION.
| WhateTer, their views. he believed them
honestly entertained. But while DENY.
ing his petseael 1Htesest in remonetlza-
tion, he said; / wish &c have it distinct
| " understood that DO not even by i'm
plIeat1on admit that my right to legisIate
on the subject would be lost, or In any
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