The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1892-05-05

majority Of the Democratic party
speech Of Hon. wIiiAm n. Hatch, Of
missouri. in the House Of Represen-
tatives, March -, 1922.
The House having under consideration the
bill III. r. 44s6l for the free coinage OF gold and
silver for the issue of coin notes, and for other
purposes
Oh how loved him that day for
the utterance of that sentiment, and 1
wish his eloquent notes could have
been heard in this debate once more
in favor of the people who have been
robbed and almost ruined by the effects
Of that infamous act OF 1873.
The demonetization of silver was
the initial step in series Of legislative
iniouities, intended and premeditated
by interested and dishonest represen-
tatives to enhance the value and power
1 Of money, depress labor, enrich favored
classes and impoverish the producers
Of the country.
Dating from 1873, when the demone-
tization of silver was contaminated.
came the steady, gradual, but sure de-
precision in the average prices Of all
farm products and farm property.
Statistics and the plexus Of facts uner-
ringly prove that the export value Of
all such farm products has declined
with the prices Of silver; the anticipa-
ted and inevitable result Of the gov
eminent fostering an abnormal pro-
lection to the one metal, gold, and tie
persistent and unholy warfare by every
succeeding administration Of the treas
nry department upon silver coinage
and its circulation.
The great majority of the Democra-
tic party stand earnestly, fearlessly,
and unwaveringly in their demand
that silver shall be restored to a per-
feet quality with gold as to coinage,
bullion, and certificates, and that the
circulation of the two metals shall be
kept upon parity by equal laws,
equal advantages, and equal govern
mental protection. Governmentalone
has dishonored and disparaged silver.
The people have always been, are now,
and will continue to be satisfied with
the silver dollar of 4l2a grains of sill
yer, nine parts fine, the dollar that was
established in 1892 by wiser and
more patriotic body of men than Wall
street can boast, the then representa-
tives of a free people, among whom
was not single millionaire. This
coinage act was not inspired by self
interest, nor did avarice and greed
regulate the conduct of the represen-
tatives who framed it.
To show how England guards her
gold interests and how her fnanciers
rule us, let me quote from an admira-
BILE pamphlet entitled 1.-The true cause
for the decline in the prices for wheat
and remedy" published by Ivan G.
Michels. Esq, in the year 1887 Z:
England, with not silver mine of any note in
her possessions either In Europe, Asia, Africa,
America or Australia, dictates to us the price
for our silver bullion-depresses by questionable
means the value of our silyer-but jealousy
she guards her gold interests In Australia and
her single gold standard by strict laws. which
compel the Bank of England to purchase all the
gold offered at u fixed rate in order that the
price of gold bullion might not be subjected to
fluctuations.
As this fact has often been questioned by
scribblers on financial questions, and who in
complete ignorance of such an important fact,
still insist upon the appreciation of gold, We
herewith reproduce letter addressed to us by
the chief cashier of the Bank Of England
BANK OF ENGLAND, London, +. c. Feb. IS 1880
SIR beg to acknowledge the receipt of your
letter of the 9Th instant, and have much pleas.
nrei2 s enclosing copy Of the section Of the
compels the Bank of England to purchase gold
bullion at pounds, Us I'd. per ounce standard
am, sir, your obediant servant.
IVAN G. MIcHELs, ESQ. F. MAY, Chief Cashier
Andjn support ofmy statement that
the prices Of farm products have de-
clined relatively with the depreciation
and denomination Of silver. and to
show England's financial perfidity to
ward the United States let me quote
again from the same eminent authori-
ty.
When in 1873 Mr.. Seyd of London. appeared
here in Washington missionary in the inter
ests of Great Britain and her possessions in In
dia, he knew full well that upon his success of
aboishing the free and unlimited coinage of
silver the American farmers wheat interests
would soon be at theslnercy of Great Britain
Unfortun ately for this country. the last move of
England has owing To the coinage act of 1873.
become an established but lamentable fact.and
on the crop of 1886 of 457,21S0O0 bushels of
wheat, tine losses to the American farmer are
$171.196,714
Onlyin June last 1886 an important meeting
of the British and Colonial Chambers Of Com
merce was held in London England, at which
there was an animated discussion of the silver
question and its bearings upon the commerce
of India
Sir Robert N Fowler, NJ p, the London
banker and ex-lord mayor, said that the effect
Of the depreciation OF silver must finally be the
ruin Of the wheat and cotton industries of Am
erica, and he the development of India as the
chief wheat and cotton exporter of the world"
IN Is lust this difference in the price of silver
bullion which ruins the American farmer. No
wonder that the foreign exporters in this coun
try who purchase wheat for British account
clamor for the suspension of coinage of silver.
OUR LOSSES ON THE WHEAT CROP or 1886