St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-24
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Ou the Sd OF ueXt month there is to
he held ~ The city OF St. Louis pan
American btmNatiic congress, to which
delegates nave been invited from Mex
leo and the siiyer-produciug countries
of SOuti, America. aud FROM a few OF
the Western states of thu Union. The
Invitations to the convention are care
fully wOrded so as to exclude all thOSt.
vino may be unfavorable to bimetallism
as ii is understood by the silver inter-
ests-a bimetaliSm which would force
uuon the country ;he coinage OF dollars
OF the intrinsic value of but 81 cents.
and ia their distribution none of the
distinguished financiers of the country
have heen included. The call likewise
arraigas the advocates of a sound cur
rencg basis in the present congress as
engaged Tia Il conspiracy against the
South and West, and aims to arouse an
antagOnism between the sections that
shall lead ~ the ADOPTION by congress
OF the measures proposed for the hei,-
eft OF tie silver IminerS of a few of the
traus-M Missouri states.
The silver men of the country have
an Gndoubted right to meet and to dis
cuSS such measures as may seem to
concern their Interests, and they have q
right 10 take Sucn peaeeable measures
as may be necessary to that end. The
producers Of wheat. OF wool. OF iron
and of copper and lead have perfect
right to do the same thing. But neither
the silver men nor any of the other
classes mentioned have legal Or
moral right 10 meet for the purpose set
forth in the cail-to institute boycott
against those who do not agree with
them on the expectancy OF any class OF
legislation. Boycotting is declared a
misdemeauOr by the statutes and is pun
ishable as such, and those VINO are pro-
iUotIug the st. Louis convention. in ad-
viSing the bOycotting of the products OF
the East, are clearly guilty OF vota-
ton Of this law, ard are amenable TO its
penalties.
The plea that protection is needed for
silver is the silliest of nonsense The
prcauct of the mines of Colorado will
always possess value. 1t will be needed
for cur subsidiary coin, and it will be
needed in manufactures, just as lead
and iron and zinc and copper are
needed. Like other metals. as we'll as
products of the soil and mauufact cries.
its value will vary, as the supply and
the demand shall change. Men of the
present generation remember when dia-
mOnds were scarce and dear. and pone
bat the very rich could afford to possess
TEEN. The discovery and development
of the diamond mines of South Africa
increased the supply of the gems pro-
digiously, and their value deprecated
eorrespondingly a diamond that could
not be bought thirty years ago for less
than $500 now finds SLOW sale at $50
The excess in the supply of wheat has
brought its price down to a figure never
before known. and wool, notWithstand-
ing the high protective tariff, is cheaper
than it was before the war. Five years
ago aluminium was worth six times
more than gold. for it was scarce, and
I difficult to obtain. The discovery of a
process for its extraction from the clay
has made it more plentiful, and today it
is one of the cheapest Of metals-so
cheap. in fact, as to commend it to the
''cheap and nasty" PETER as an article
from which money should be coined
All the talk and buster OF the silver
statesmen will not avail to upset the
law Of supply ana demand, which is the
basic principle of trade. Overproduction
will depreciate the value of any article,
from diamonds down to Kansas Popu-