Morning journal and courier., 1886-05-24
Enormous decrease

Great Britain. , Enormous decrease 7,47sa81
 We have no space for similar ta- bles. India owes and must pay about fifteen million pounds ster- ling yearly to England for fixed government al charges, enormous additional sums for in- terest on loans and returns on investments of various kinds, so that constant stream of payments from India to England is going forward all the time. Fer this council bills on India are constantly drawn. Silver is the only full legal tender in India-gold the only full legal tender in England.
 When silver bullion began to fall in 1874 in consequence of the action of Germany, wheat began to be exported from India to Europe as shown above. The wider the gap between the price of gold and silver bullion the greater the stimulus to send wheat and other products to Europe to pay these fixed charges, interest, income, etc., so in effect this gap operates IS bounty on the raising ard export of wheat and other products from India to Europe.
 This effect was never anticipated by Mr. Cernuschi and the other advocates of the pol icy of compulsion and the continuation of our present policy of inaction intended as compulsion-
 It has operated to demoralize business, to force losses upon the wheat raisers alone, of
 
 cotton growers of 40 millions to 6O millions, upon all other industries dependent upon these to 8 literally enormous amount.
 Here it pinches down upon the wages of workingmen, upon the amount of their em ployment and upon their debts and the taxes they pay in part =----~ -+> ------- -r-=
 This is too much for such 8 whistle as theory founded upon fallacy.
 MT. Bourne in reply said in brief: I can not see that my predecessor has touched the silver question in America yet. If I may be allowed to draw Judge Sheldon's conclusion for him T would presume that his idea is that so long as silver is not @ par with gold long will wheat be raised and the manufac turing interests will suffer.
 The money question is one of great inter est. It seems to me that one two conclu- sions may be drawn. Money is measure of value. It is something am willing to take because I can buy something you have got. If money has a value of it's and with that I can get what you have got, then it must have certain known value. If you settle right down to the fact that money is something you get for a days work, then you are getting down to the relation of money to labor. The cheapness ot silver means that it is relatively of less value than gold. If you get silver dollar you get four-ffths of gold dollar. Now another principle about money is that when there is free competition between two coun- tries it will end by each country getting its requirements of money.
 The government pushing certain amount of money upon us all the time is forced coinage. It's the Jones' of Nevada who own the silver mines that the ones who are going to profit by free coinage. As it is now the government is making the money on the coinage of silver. The poor man has to get his food with his money and pay all his expenses, while the rich man can get along without any money at all. The point is that money is an equivalent that everybody recognizes in payment of certain amount of labor. We being highly advanced na- tion need the best money we can obtain, which is gold and if you have fixed stand ard you are not controlled by capitalists.
 In his concluding argument MT. Bourne said: Judge Sheldon has set before you a doctrine that has been nursed by paper money men for years. If law will make sill yer worth as much as gold don't know why it won't work the other way with gold. Ever since silver was made 8 legal tender it has fallen in value. Silver men maintain that there is certain relation between silver and gold of fifteen to one. If man is earning twenty dollars day he can't afford to take his pay in coppers and this makes gold more valuable. The efficacy of raising the value of silver by law has not been very promising for the past four five years, and is not likely to he so for several years to come