Daily Yellowstone journal., 1890-10-31


England must depend on Va for this
con -tsnt supply Of silver, and It is
clear hat by SO much as our legislation
iDjuriously affect the price Of silver
here, our silver product is cheapened
in England. Until the year 1873, IL
cost England two n llings 10 produce
the silver with which n make rupee,
but so sOon AZ we demonetized silver
and fsiled 10 provide q market !or II
in this country, We vastly increa. ed
the supply upon which England could
draw, aud cJnseqnsntly chespened
the price. The silver for a rupee ca !
now be bought Of US AZ l.. 81, aud tn.
rupee made from ii will buy as much
Indian whea. Ms 1t bought prior t.
1873, when the rupee cost England %.
Our hostile legislation against our nwn
silver product, Therefore, has had
these two rasults-we hs chespened
silver, aud cheapen-d waea'-two nf
our own largest products. We have
dealt a heavy blow ut III. American
miner and through him at the AMIR
lean farmer.
Or. would think that the reu-dy
for these evils. bsing in our own hands.
might he very easily applied, and ye'
all efforts to return tn III. f'e- c"insg-
of silver, which obviously j. tn. oulv
efficient remedy. hsve been firrcely
contested by thousands of our owu
people, and those among th- most in
fiueptisl ir the country. Toe reason
Of this IL clear If it be not wholly cred
liable. By ~ much ~ mon-y j.
scarce, it's purchasing power ]. in
creas, d, and the results Of labor are
cheapened. Materially, then, the
moneyed power iu America has always
been opposed to policy which would
cheaper money and render labor more
valuable. These people, hign 10 finsn.
cisl power and consequently srrO3g In
political power, have evolved all kinds
of speciou- arguments against silver
coinage. They have stated that our
silver product IL too large 10 be profit.
ably coined; that the effect IF coming
would be TO drive gold into retirrmen !;
that We sboald have cheap money aud
dear nrcessaries; and by these repre-
sentatious, every one of which Is
positively denied by q century Of ex-
perience, they have been able I,
prevent n return 10 the policy whicn
controlled our monetary arrangements
from the foundation Of the govern.
meDt until 1873.
At the last session of Cong ess. the
republican party concluded Ia take =
long and direct step towards free coin
age. It's dicision WAS vigorously
opposed ~ the moDeyed olia'garchy,
whose views we're expressed through
the democratic party. A bill was
passed calling upon the government TO
purchase every month 800, 900 ounces
of silver ut the market price, and TO
Issue In payment therefor legal tender
treasury notes redtemsble 10 coin.
The effect of Il il legislation hss been
to scatter broadcast over the land,
annually. in silver dollars, o. their
paper representatives, an amount OF
silver worth fifty-four millions OF dol.
larr, thereby giving employment 10
America for nearly ~ per cent OF the
worlds annual product OF silver. This
of course, greatly enhances the value
Of that other large amount Of silver
r. tquired bv India, and 10 that 10 In
the main purchased from our mines,
the price Of silver is considerably In.
creased, and ~ that silver 10 used In
the purchase and transportation OF
wheat, the price of wheat has CORE
spondingly risen, and the America
farmer finds himself considerably bet
ter off than he was 30 long as his own
government took part in degrading
and cheapeping the silver product.
During the Cleveland admiuistra.
don, when the democratic party was
In the asceudancy iu two branches OF
the American government. keeping
up cruel and incessant warfare upon
silver. Toe price OF that metal fell to
the lowest point that Il has ever
reached, and the price Of bushsl Of
wheat wss proportlonatsly reduced.
Immsdiatsly upon the passase Of the
new republican silver Law. the vAlas OF
the metal isorsassd In . naFksd
degree. Goon It led rlssn fsso q
sA-l0oths. 70 el.lsl. and spsins vesas
vss sslliag % ~ Chl0go oaksee =
q .ll-junt y ssats nogs tAan - ~
dav q 0sovss Clsvslan1b eeCasonse
fton ~ white uouDA ~
u vlsv q enssn111Dess>an -