Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1890-01-22
The Real Causes.

of the depression of the day is due to the
high tariff, whereby money is taken PHI
marily from the pockets of the people far
in excess of the needs of the Government,
to stow in its vaults, and secondarily IN Tar
greater amounts under the claim OF pro-
lection to our industries, to fall into the
Golfers of the rich corporations. Another
great abuse has grown out of this vast rob-
berry, and for which it is mainly answerabie.
We speak of the trusts, combines, &C.,
whereby open markets are destroyed, com
petition is straDgled, and comparatively
few regulate to suit their own cupldity, ard
control for their own aggrandizement,
Dearly every article that enters into the
wants and necessities of the people. And
we doubt very seriously if this state of af-
fairs could have been brought about had
not the people been rendered helpless and
some well nigh hopeless by the demonetiza-
ton of silver, whereby the bonds OF the
Government greatly appreciated in value
by being made payable, principal and
interest, in gold, and the means OF pay
ment-wheat, corn, rye, cotton, and ron
being correspondipgly deprecated. These
combinations have brought distress upon
The people, in more ways than one, and
with results that extend beyond the limits
of this country, whereby our articles of ex-
port, mainly agricultural, are brought into
competition with the cheapest labor of
Europe and under conditions greatly
,gainst us. Let us see what these con-
ditions are: 1t is well known fact that
the exports of wheat, in which Virginia is
mainly interested, has fallen eff more than
70 per cent. in Liverpool, the great con-
trolling grain market of Europe and the
world. Why is thiss Because India, under
English protection and rule, has become
competitor. 1t is well known that Eng
land governs India, gets handsome sum,
one hundred millions for doing it, payable
in gold, and it is money most judiciously
paid. How, it may be asked? India, in
capable of selfgovernment and the de-
velopment of her vast resources, has turned
over these matters to English statesmen,
the most olear-headed. far-sigbted, agrees
siye people in the world. Railroads are
being pushed through the country, the
fertile lands are being worked, and the
abor of hundreds of millions, capable OF
living upon dirt ard going half clad, are
brought into competition with the farmers
Of this country. Nor is this all: With an
insight for which the English are noted,
and blindness for which We are remarka-
BILE, silver has beer practically demonetised
here as we'll as in Europe, while England
has demonetised gold IN India with her $50
million population. What is the practical
and necessary result? India sells her
wheat in a market at rates practically re-
duoed &C per cent. as compared with gold,
but being paid in silver it is taken home
| where it commands like premium over
gold; whereas, if we were to take pay In
| silver and bring it here, so far from being
| at premium, we fud it discredited, the
| coinage limited, and every effort made By
| capitalists and bopd-holders to crush it ss
| means of circulation. 1t is plainly to be
| seen that American farmers cannot stand
such competition upon even terms; how
much more crushing it must become with
20 per cent. against them, ard when they
are denied the privilege of exchanging
commodities, unless they pay the general
| Government az additional At per cent. Il
l is not strange then that farmers are crying
| out, deserving lands that no longer yield a
living, and fleeing from homes that afford
| them no protection against the unjust dis
elimination of their own Government, even
| though they would give them safe shelter
against the winds, the storms and the war-
sng elements. To sum up, the discredt
of silver heaped the ccffers of the bond
holders, gave money the power to perpet-
! uate the ubiquitous tariff, of which trusts,
combines and monopolies bave been hegot-
| ten to the injury of the masses, and to the
undoing and destruction of the agricultural
interests.