The daily gazette., 1880-08-04

to European gold. The two metals
seek each other. Where there is
plenty of silver gold is as sure to be
attracted as the needle is to point to
the pole. Everything proves that
John Sherman is ignorant of this
natural law. He hordes silver to
drive gold away. But gold has again
begun to flow into the country,
$250,OOO having arrived in New
York on Monday. One of our con-
temporaries says: "Despite the re-
tiring swell of the financial crisis,
the year ending July was the most
prosperous in our history. Our i'm
ports were $658, ,00O,0 600, our exports
S36,0OO,O0O. No European Power
approached such a showing. Our
credit is at the very top in every
market of the world"
That may be the case; but it is
due in great measure to the policy
of the Democratic House of Rep
resentatives, and is just the re-
verse of what that paper pre-
dicted would result from the coin
age Of silver. We have now gold
and silver curency-the best in the
world; and that in connection with
our great agricultural surplus is at
tracing the trade of all nations.
None are restricted as would have
been the case with gold and green
back currency when two-thirds of
the commercial world hold silver to
be legal tender. 1t would have
been the greatest folly for Demo-
cratic Congress to have followed the
the dictation of John Sherman for a
single gold standard to enrich the
bond holders, at the expense Of :he
laboring interest paying classes.
dad Congress reduced the duty on
iron and many other articles that 90
into the hands of the laborer, me-
chanic and agriculturists our exports,
large as they are, would have been
immensely increased; and our sur
plus flour, wheat, corn and cotton
would have sold for higher prices
abroad. All surplus that our agri-
cultural lands yield that are sent
abroad are profit, and go to enrich
the nation. 1t is the purest folly to
say that the decrease in the price of
iron destroys labor. Iron is now
used to such an extent that it must
be cheap if labor is not stopped.
Every mechanic knows that work
ceased last winter as soon as iron
was lun up by the combination of
capitalists and that just as iron fell
in price labor was again resumed.
If The farmers can get fair and pay
ing prices for the grain they raise for
shipping abroad they can employ all
the idle laborers in improving their
lands. In fact the farmers of Della
ware and almoat any other State
could nearly double The force they
employed in 1878 with a profit if
they could get the money to do it.
The reduction of the duty has the
effect to add TO the price abroad the
difference of the amount that is
taxed as a tariff.
1t was argued by the opponents of
the reduction of the lax on tobacco
that it would reduce the revenue.
But this was shown to be false. In
fact the reduction of the tax on to-
bacco has increased the revenue. 1t
operated The same way with whiskoy.
These two articles yielded larger
revenue dming the last year than
ever before, and this is just what the
Democrats in Congress predicted.
A tariff for revenue would operate
the same way and give incre ased la
Dor all over the country, draining
our cities of the very class that
come in competition with artisans
and merchants.