Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1892-06-01
Communicated

GOHtHUHtNWttW
CmARLEs-TowN, W. Va, May 90, 1892.
Editor Free Press Twenty-Five years ago
| bade goodbye" to home friends and dear
old Charles Town to seek my fortune in the
far West The trials and vicissitudes
were many and varied-at times reveling in
the cup of good fortune-again, reverses
would overtake me and life would not be 30
bright and smiling. But after many years
have returned and again am in the midst
of kind, good and genial friends. Knowing
as they do that my home is in Colorado,
they naturally have asked me many ques-
tions relative to the free and unlimited
coinage of silver. have endeavored TO an
swer them to the best of my ability and for
fear that have not made myself thoroughly
understood | ask permission to have this
communication printed in the old Family
Journal Knowing that it will be read by
nine tenths of the people Of Jefferson and
many and many that are far away. The
principal question was what benefit would
it be to the farmer, the mechanics, the law
yer, the merchant, the doctor, and all in this
country. The wheat, cotton and corn
growers OF the country have the same direct
loss to bear in the price their products
bring, by reason of silver demonitization,
as have the silver miner The same in kind
and as great in degree. The loss to the sill
yer miner is easy to comprehend, the loss
to the cotton, wheat and corn grower not so
easy-the disastrous operation of demoneti-
zation upon them not being so direct and
therefore the proofs of it are somewhat more
complex. That it is true however, and
how it appears can be clearly shown.
England and her Indian Empire enter
into the problem In 1875, the year the
United States demonetizsd silver. India
supplied hardly any wheat and no cotton to
Europe. The United States exported by
for the greater proportion of these commodi-
ties to supply that which European counties
were unable to raise for themselves. Since
then lhe whole situaton has changed. In
dia during the last six months has supplied
for European consumption more than lOO,-
900, 900 bushels of wheat and last year it
exported over $4,000, 900 pounds Of raw cot
ton. The most of this wheat and cotton
went to England to the exclusion of so
much American wheat and cotton.
The Indian products fix the price the
American producer must accept for the sur
plus they raise.
Thus surplus American wheat and cotton
have their prices fixed in England markets
by those of India, and these fix the prices
AT home.
II that was the whole story American
farmers would have no room to complain,
for they must when they leave this country
with their grain, expect to complete with
the grain fields of the world.
Wheat and cotton raised in India have
the same right to compete for purchasers
in all the markets of the world as have the
American articles, but this is not the whole
story.
The claim is often heard that silver, when
measured by the products of labor, has
not deprecated. The fall in the price OF
silver from $l.16 per ounce to Sc per ounce
is really the measure of the rise in the price
of gold.
This is unquestionably true-if wheat,
cotton, lands and other property now COM
mand in payment only about the same
quantity of silver bullion of standard fine
ness that they did in 1873.
In that year one ounce of silver was worth
81 20 in gold, now it is worth but Sc cents
"A difference of 49 cents. $l.29 in gold
will now buy an ounce and one-third OF
silver, and a thrice more wheat and cotton,
while the ounce of silver will buy as much
of these products as it did in 1873.
This proves that with wheat, cotton and
other such property the standard, gold ha:
advanced in value, and it is not silver that
declined.
India's money is silver. lis inhabitant;
are an uncommericial people. The trade
OF the Empire is in hands of British Houses
The native Indian is rarely other than pa
tieut, subseryient animal. Native Princes
own the land, the vyot Indian Husband
mem cultivate it, having usually a fixed
tenure in it, bus gets less than actual own
ership. The Vyots are millions in number
they have never known anything but silver
money, and ) h as is of less intrinsic value
Of the commercial relation of gold and sill
yer they are in absolute ignorance.
Ifthey were to see a gold coin they would
not know its value, so ignorant are they
of it.
Say then, that the British shopper from
India buys wheat at sl.2o per bushel, pay
ing first in silver bullion coined in Rupees
when it reaches Liverpool or London, sell