The clarion. [volume] (Jackson, Miss.) 1883-1888, 1886-02-10
The Price of Silver Affects the Price
OF Cotton.

EDITOR CLARION: Those who are dis
posed to depreciate the silver dollars, say
that its advocates are only the silver
miners and those people in the South
and West, who are in debt and wish To
pay in cheap, dishonest dollars.
This is a Islander upon the agricultur
lists of the West aud South, who grow
the wheat and cotton which forms such
a large part Of the exports of our eoun
try, ana who are as much, If not more,
interested in the price OF silver than the
miners of that ore themselves.
The gold standard advocates, who in
sist that the wheat and cotton producers
are cheated 10y the coinage OF the silver
dollar, are very fond OF asserting that
the stamp Of gOyernmen at can nor give
value to Its money by making II a legal
tender, except within the limits OF liz
Jurisdiction. This is true. but let u
apply this rule TO the silver which Eng
land coins for the use OF her colonies il
India aud see what a disastrous effect
cheap silver has upon our cotton and
wheat
Iudia is our chief competition in the
production of cotton aud wheat. India
uses only silver money, and 1t Is coined
ana regulated by tho laws of England
at l54 pounds of silver Tor one OF gold.
Now the coin of England is not a legal
tender in the United States, aud when
the Englishman buys our cotton or wheat
he must pay Tor il In our money or lis
productions valued in our money dol
Jars. Ii he wishes to pay US in silver,
ne cannot pay in silver bullion nor Eng
lish silver coin, but must give US our
standard silver coin which he can only
get by paying for it, its stamped value
But when he buys cotton or wheat in
India, the case is very different. England
can buy sixteen pounds of our standard
silver for one pound of our standard
gold; and when she coins these into
rupees for India, she makes half pound
in silver on every pound of gold so in
vested. And if we had, as we should
have, free coinage for the production OF
all our silver mines, she could not buy
silver from us at a less price. But our
government depreciates silver by deny
ing TO it free coinage, aud by bu fing Ii
for a less value than she stamps upon II
when coined. In the deprecated condi-
ton of the silver market, England now
buys from Us about eighteen pounds OF
silver for one of gold, and Immediately
coins it into rupees at l54 pounds of sill
yer for one OF gold and makes y
pounds of silver Tor every pound OF gold
thus invested.
India being part of the English do
miuions, the silver coined In England
passes at its stamped value in India
and thus the Englishmau can make
money by investing his gold in CHEAP
American silver, and buying cotton and
wheat from India, rather than buying
cotton and wheat from us. Or, he can
give the Indians better price for theil
cotton and wheat, and thus stimulate
competition with us, aud reduce the
price of our products.
The London Economist, of September
II, 1885, said: = Every one who ha;
given the subject the least attention
knows how greatly the recent deyeloD
ment OF the Iadian VIII at trade ha,
been due to the fall in silver, which ha,
acted as Il bounty upon exports; and It
this aud other industries further de
probation of this metal would give
great stimulus" Thus, fall in the
price of silver, makes a fall in the price
of wheat and cotton, by reason OF In
dian competitor; and yet one of our owl
great statesmen would have us still fur
Their depreciate silver by requiring more
to be put into our dollars.
The coinage OF silver should be as free
as the coinage of gold, and then the
owners should get their silver dollar
into circulation the mselyes.
JAS. r. Gil LINERS.
SARDIs, Miss, Fet. ), 1886.