The advocate., 1892-04-06

American colonies broke out. The troubles
resulted in a great diminution in the pro-
duction Of the precious metals, which was
quickly indicated by q fall in general
prices. As already stated in this report, ii
is estimated that the purchasing power Of
the precious metals increased between 1909
and 1s4s fully 145 per cent, or, in other
words, that the general range of prices was
60 per cent. lower in 1S48 than it was in 1909.
During this period there was no general
demonstration of either metal and no i'm
portant fluctuatiOn in the relative value of
the metals, and the supply was sufficient to
deep their stock good against losses by ac-
cident and abrasion. But il was insufficient
to keep the stock up to the proper CORES
pondence with the increasing demand of
advancing populations.
The world has rarely passed through a
more gloomy period than this one. Again
do we find falling prices and misery and
destitution inseparable companions. The
poverty and distress Of the industrial
masses were intense and universal, and,
since the discovery Of the mines Of America,
without parallel. In England the suffer-
ing Of the people found expression in de-
mands upon parliament for relief, in
bread riots and in immense Chartist
demonstr ations. The military arm of the
nation had to be strengthened to prevent
the all pervsding discomfort from ripening
into open revolt. On the continent the
fires of revolution smoldered everywhere,
and blazed out at many points, threatening
the overflow Of states and the the subver-
sion of social institutions.
Now let all the voters Of Kansas, with
out regard to previous conditions of polit-
ical servitude, give q moments attention
to the following summary Of the incal-
culable benefits that would flow from
free coinage from the "Perkins" stand
point of less than two years ago as the
close Of his Congressional speech In June,
1890:
But, Mr.. Speaker, why should we specu-
late or experiment in this important legis-
lation? Why not return TO the plain and
simple provisions Of the law of 1892 For
almost a hundred years that law served our
people patrioticallY and well. Il was en-
veloped in no doubt. Il called for no COM
promise. Il rested on no conjecture like
the new and experimental plan. II was a
plan and uneQuivocal measure for free coin
age. A return to that legislation would, in
my judgment, be wise legislation for many
reasons. II has been said that:
II would Immediately add an immense
value to all silver bullion.
It would tend to stop the general down.
ward trend Of prices.
II would restore part of the loss that the
prices of commodities have sustained and
which they now suffer.
II would provide currency more stable in
value than any that at present exists.
It might perhaps send some Of our gold to
Europe, but if so it would tend to raise the
price Of all our products sold in that market.
It might bring down the price Of our per
cent. bonds 80 that they could be bought by
the government at less than 26 per cent.
premium.
If gold should be held at a premium over
silver that premium would add a new and
further form of protection" in our trade Of
purchasing manufactured goods from gold
using nations.
It would reduce the strain Of the India
competition and reduce the incompatible
losses that competition every year costs our
farmers and planters.
II would raise the prices of wheat and cot
ton and prevent the enemies Of our tariff