Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1892-06-04
BrMEFALIsM OBLIGATORY.

A writer in the United States In
weston says that "ihe indications are
that bimetalism will soon assume the
form OF a necessity rather than
choice for all commercial people, and
IN all parts Of the world.
The losses which have occurred in
the cotton manufacturing district ~
England, in consequence OF the depre
citation OF silver, are estimated by En-
gli-h experts TO reach $l,O0OOOO sterl-
ing per annum in wages. which, Of
course, means the proporiionate lns'
uf trade which the workmen wonld
hiring into act witty by those wages, be-
tides much greater loss suffered by
manufacturers during the past twenty
years, or since silver was demonetized
in 1873. The stock Of these cotton
manufactures has fallen 80 per cent in
value, and dividends have declined 4"
one per cent per annum, These ssine
factories were, before the demonetiza-
ton Of silver, entirely dependent upon
the United States for raw cotton, and
they had no competition with India
for the China and Japao trade. Now,
NIL this is changed. Cotton is brought
from India, and India is supplying the
China and japan trade with cotton
yarn in unprecedented quantities. and
all this is the result Of the difference
between the price OF silver and gold
bullion. Hindoo cottcn.growers have
not changed their prices for their
products, Iut in the present price OF
silver England can not compete with
them for the eastern markets, because
the Chinese merchants pay in silver.
aud that silver when brought to Eng
land only bring. ~ cents per ounce in
gold. But when the Chinese pay this
same silver 10 the Hindoo merchant.
the latter counts it ut the old valuation
which existed before the decline. A
silver rupee in India is the same To-
day as 90 years ago, and Us circulated
t.r .;nerchandisc on the same basis ;
consequently the Hindoo sellers -
getting the ounce 81 silyer, get the
same as they always did. Not SO
however, the Englishman. The ounce
Of silver is constantly depreciating, and
this means that the Hindoo practic
,ically nn,iersells the English, although
il costs more 10 make cotton yarn u
India than in England, in spite of tia
lower wages in the former country
This is due to the improved machin
egy in England, but that machinery
not enough better TO make up Tor th
depreciation in silver. The same rul
holds with Germany, France and oihe
European countries; they are all losin
the eastern market through Hindo
competition, and il silver continues
decline, according TO the rate oil pa,
years, India is likely tai develop a
enormous trade at the expense OF tn
country and Europe.
Hindoo wheat and other produce
have been greatly stimulated for q
same reason; and the trade which l.
da has developed within its ow
boundaries in consequence OF q
money thus received from the far cas-
is likely TO be stopped entirely. Hind'
wheat is not so good as the America
aud frrighis to England are higher I
il; bat 10 per cent discount in prize
according Io the difference hriwe'
gold aud silver bullion, threatens
sweep the United Sta'es out Of q
European wheat market At geth'
The Hinduos have hardly caught 81
10 their advantage yet. but they q
doing 20 rapiel Last year ind''
exports 81 wheat to Europe were .
O0G 900 bushels, against 10000 bus
~ in lsT3 aui previous yrtrs-