The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-19

a1LyER AND INDIA.
The "argumenss" of the advocates OF
free silver coinage are generally drawn
from = weil-stocked arsenal OF lies. The
other day the Atlanta Constitution told
the public that the Indian rnpee was ''as
good ~ gold" that .the English traders
can purchase IS cents worth Of silver. and
with this buy . dollars worth OF rupee
papsr, which win buy a dollars worth Of
Indian cotton. The q cents worth Of
silver. sent to India, il coined into rupees,
worth something more than ii, for the
coinage ratio Is Is TO l. In other words.
the Indian producer gets an equivalent Of
more than 81 In gold for tho commodity
that the American producer is compelled
to sell for "a cents" The facts are that the
Iddian rupee il not las good a. gold" in
the sense that rupee paper can be ex-
changed for gold at its face value. A
rupee Is worth about ~ cents in par and
silver In India; it is only worth 81 or 3s
cents in'gold in England. For every rupees
worth the Indian producer sells TO an En-
giish buyer he gets only the equivalent OF
81 or az cents In gold.
All who are curious to know what India
thinks OF the free coinage Of silver are re.
tenth Century by the Hon. Mr.. Justice
Ameer Ali, entitled "Thc Rupee and the
Ruin Of India" The author Of the article
10 = native Of India who holds an official
position under England. This article il .
clear statement Of tho disastrous effects Of
debased currency. This writer gives the
yearly value Of the rupee from 1872. when
Il was I shilling ia pence. to the close Of
1902. when the value Of the rupee was only
I shilling 5 2i-32 pence, or fall from
81 $40 to - 40 cents. This fall has not
bssn sccompanied by an increase OF wages
for labor. As regards clerks Of all classes,
sit 10 notorious that their incomes have
not varied for the last twenty years. and
those Of the professional classes have
fallen. whatever tho cause Of tho fall may
b." Tho experience Of India in this re-
pect was like Of that Of our own country
when during the war gold went to high
premium and ran way from ereenbacks
With the depreciation OF the greenback and
tho rise ofprices there was no pro-
portionate increase in the wages for labor.
Under tree silver coinage In India no bcne.
1T accrucs to any section of the people
save the small body of produce brokers
and exporters. The bulk OF the profit due
90 the Increased price Of food grains Tin
silvcrb goes INTO tho pocket OF the ex.
porter, and the agricul.urist finds that all
the neecssaries Of life have become dearer.
while the fall in the rupee helps to rob
him Of his just prices. The fall in the
rupee has stopped all ininx Of outside
capital to India: productive work Is
stopped and expenditures arc reduced to
tue lowest terms. The Indian govern
ment has lost some $3.50. 0o0. coo en- its re-
mit,ances To England in payment. of inter
est on liabilities there. n great sum. which
could have been expended in making
goods. reducing taxation or in providing
means tn prevent or mitigate famines.
The small trader in India suffers lust A.
the small trader does In Mexico, which.
Ike India. has the silver standard; this
India trader, Importing his goods from
Europe. has. of course. 10 pay for them in
gold. and. in order To compensate himself
has TO raise his prices prcror,iona,ely In
silver
This Hlndoo financier eonfesses tina,
there Is no prospect Of the dual standard
being adopted by England: that the only
remedy for India is 10 change her standard
u value from silver 10 gold. hu. this she
cannot 10 without the permission Of Eng
land. but England viii not permit Ind.
- rehahilita,e the rupee. because un,ie,
the depreciation Of the rapcc one roYay
sterling buys III rupees worth OF wheat
instead of IL rupees wos;h: tins cheaper,
whca. all the world over, aud of courS,
England ia her Sel6shness wilt not L.
POOR India rchahiisis,e the ruree by chang
ing her standard of value from silver :.
gold. 0rea' britain produces no silve
aai she therefore steadily refuses % agre,
- universal oiiaesslhsrn. since ;his wont.
increase the price 81 produc. which 81
vcr.Trcducsng countries export In nav
men; ZOE gsoas ard wares Imported. F.
gland wu' conseu' - nothing Which wil
saisc the price of she commodities ~,
which Ns't'sh goods sre rad for.
! II The United states shouli ..or, ~
silver standard 81 India. Mexico A..
China tomorrow. Ens;sad would -,
dollars worth ~ shea, so n -e,t.' w.,
Of kas.ssa goods or wares. Tlis H{n3a
snancser points cut that England vii! no
ador; the double standard because he
iateFesss are against fair price Tor ei,he
slver Or wheat; she cares roshiae sbou
the tall e silver or wheat: she cares chi
sboas iae tsll IN the value Of the GOOD
she manufactures consequent on shc il
Creased TT,Gac;aea Of those soests ~ he
competitors. Eng. and DOES not raise he
osn food nor hes silver. size buys her foo
aud heT SILVER Nt,h her soofs and wa-r.
therefore ste Ssats % dspgcris,s boz
si.ser and wheat ~hseA sic h,vs. and
only sesieifaas Aeoa, depreciation in n
value ef what sse makes AaA sells