The Bottineau pioneer., 1893-06-24


| ey to meet The worlds demands than
we had forty years ago, as the total
amount of all silver and gold mined in
the world annually is less than $780,
600 900, and then it was $220,000,-
900 Of gold alone while the indebted
ness now existing to be discharged by
money is double what it was then.
Later on n this article it will be shown
that the coinage laws Of the world
control all prices and values Of the
world, and it has been demonstrated
that the change made relative to silver
coinage has already decreased prices
in all countries thirty per cent, there
by appreciating every dollar in money,
mortgage bond note, and public debt,
Estate, national, city and county that
much, not only adding thirty per cent
to private debts, but thirty per cent to
taxation to discharge all public in
debtedness,s of which in national alone
there is twenty-six Billions outside of
ours. On the private Indebtedness Of
our people wears said to pay $780,
100000 in interestto England alone,
and probably as much more to Europe,
making s24o, 900, 900, interest annu-
ally sent from the United States to
Europe, and cur tribute in this line as
we'll as in the thirty3per cent cheaper
food is still greater to New England,
New York, Pennsylvania, New Jersey
and Delaware by our debtor and farm
ing population, who produce what that
section and Europe buy and borrow
from them largely. By this reduction
Of thirty per cent in" prices made by
adverse legislation against silver, the
additional burthen that is placed on
the debtor and the farmer Is not thir-
.tty per cent but ~ 81 per cent. To
illustrate, farmer has $4,000 to pay
with free silver coinage, or as things
. would have existed had free silver
coinage been retained, and wheat
would have been $l.OO bushel. Now
say it is 20 cents. Instead Of his be-
ing compelled to grow one hundred
bushels Of wheat to pay that debt, or
| l3O bushels to do it, he must grow
l42 6-7 bushels. On, a reduction in
price of 80 per cert he has got to pro-
duce Of feed, labor or property AZ 81
per cent greater quantity to meet all
his debts, which in effect on the
change already made is. stolen from
him. The adverse Legislation made
years ago against silver now compels
us to send to Europe annually $1O2,-
857, 500 in value more than we would
otherwise be sending to meet annual
interest on debts that we owe in Eur
ope, while still greater advantage is
now obtained by New England, New
York, Pennsylvania, New Jersey and
Delaware from the debtors and pro-
ducers Of this country, and especially
from the entire west and the entire
south, as these states receive more In
terest and more produce from the west
and south than our total exportatlons.
The records Of the London Stock Ex-
change Of last year show the English
people held twelve billions and half
of foreign securities, and that their
interest income in gold on them was
$500, 900, 900 per annum, $3.50, ,000,-
900 in value Of this hasbeen added to
thatincome by reason Of the adverse
legislation against silver, and this tri-
butte will soon be doubled if the policy |
of New England, Cleveland, Hartor
and John Sherman shall be carried
out, and the same kind Of tribute
will flow into the northeast part Of |
this nation and the west and south |
will befgiving that annual tribute with
hut receiving farth:ng in return,
and the price Of farms, wheat, beef
stocks Of goods on hand, and all other
classes Of property will shrink nvalue
to eventually pass into the hands Of
creditors and be absorbed By them.
]. II. STANDIsH
Bismarck, y. D, June 10th, 1893.
% % oontinusd.,
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