The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-10-29
Fool or Knave?

Fool or Knave?
The Cresco Republican of the 2sth,
in its article abiding to 1.-The good
old democratic days. takes q rainbow
view of things under the Mckinley
bill and parrot like talks about crea-
ting home market for the vast pro-
ducts OF this country and says the
PLAIN DEALER admits that farm
products sold in Europe are put on
the cheapest market in the world
where they must come in competition
with peasant and coolie labor" Yes
we not only admit it, but charge that
it is part Of the conspiracy entered
into by the republican party when
contraction of the currency began
eliminating in demonstration Of sill
yer, and finally in making silver bull
ion an article of merchandise for the
degradation Of American labor, and
the ACKNOWLEDGMENT of European
capital.
II the Republican is not aware Of it
the farmers know that the price Of
their surplus crop fixes the price up
on what is consumed ut home and
abroad, and that that price is fixed
in London or Liverpool. They also
ought to know that through the
great crime of decentralization and
limiting the coinage Of silver to less
than the annual output the price Of
silver as well as Of farm products is
fixed in a foreign market.
We believe farmers almost without
exception and regardless of politics
desire better prices, and to this end
the farmers alliance demands the un
limited coinage of silver.
Free coinage would make an ounce
of silver worth $1.OO. Limiting the
coinage to less than the output re-
duces the price to about 20 cents.
This enables our English cousins to
buy silver enough to coin $l.0O for
the Liverpool price Of 70 cents. This
silver the English government coins
and sends to India in exchange for
the wheat produced by the peasant
and coolie labor of that country, each
20 cents worth of the purchase ex.
changing in India for its coin value
of wheat. BY this freak in republi.
can legislation seventy cents of Amer.
lean silver bullion exchanges in India
for one dollar in wheat and with this
reduced price the American farmer
must compete.
Hon. Daniel Manning, Secretary Of
the Treasury under Mr.. Cleveland
corroborates these facts in the follow
ing language on page 3s of his repor,
of December, 1886:
ut is direct consequence of the
monetary dislocation that wheat ol
India, which there fetched 3 rupee.
per quintal fourteen years ago, and
there fetches 3 rupees per quintal to
day. can be sold in London (cost Of
transport apart for as little as the
gold price OF 3 silver rupees of India
in London to-day-a fall of IS pei
cent.
'sThis lowered price of wheat in
London has to be met by lower
price of the American wheat surplu,
sold in London. The price of our sur
plus wheat determines the price o.
the whole wheat crop Of the United
States.
$50 that the monetary dislocatior
has already cost our farming popula
ton, who number nearly one-half the
total population of the United States
an almost incompatible sum, q los,
of millions upon millions of dollars, {
loss which they will continue to suffer
SO long as Congress delays to stop thu
silver purchase and by that act tC
compel an international redress oil
the monetary dislocation."
Coined silver is exchanged at it
face value for all commodities O
home or foreign production; silve
bullion at its commodity value.
the exchange is with London or Liy
erpool the bullion will coin at prof
Of about 30 cents an ounce. Thi
profit inures to the benefit of the for
eigner and to the loss of the American
farmer, putting his products in direct
competition with the slave and Sepo,
products of India.
Jay Cooke, eminent republican au
thority, corroborates our position il
the following pointed remarks.
India has to pay the home govern
ment SIC, 600 900 annually, and it must
be paid in gold. The great declin,
in silver increased the burden one
third, but there was no relief. Thus
by the position OF the creditor ma
tion,' England makes a double profit
first. enormous sums of interest com,
into her Golfers, and then her money
is made more valuable than the mon
ey of most of the human race. To
this imperial policy we in America
have contributed our aid; first, by
borrowing enormous sums of money
in England, and second, by helping