Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1893-11-09
the UNITED STATES.

than Any other Nation on Earth.
n. Engineering and Mining Journal.l
The nited S,s'es now produces
silver - cheaply as, and can produce
it more cheaplv than, any other
country. With tte highest wages,
tho highest cost OF living and the
highest prices Of supplies in tho worl /,
We have produced the silver At an OK.
tremely low pt,ce, inundsting and
demoralizinR the market. Now We
can = = reduce materially the
cost Of production and command the
markets OF tho world for the white
metal. This will close many foreig"
mines and bring further force to the
movement for universal bimetall,sm.
Since tho fears which the financial
world had for the stability and value
Of our money must row disappear.
vast amounts Of foreign capital will
seek investment here. while tho v-sy
low prices At which our raw product.
are selling, and At which We can now
manufacture. will add largely to GU,
-xporss and bring Us great quantities
of gold.
Tho tide OF gold which will inev.
itably flow to us in the future will
not only give US abundance Of money.
but will drain Europe. Will i. no.,
also force tho value Of gold upw, I'd.
'aise the Bank OF England rate in a
vain effort to bold back the ebbinp
tide. and raise tho cost Of manuf.c.
turing there, unless wages BE- reduced,
when the horrors of long snd bitter
strikes would follow? Tho inhab
itsnts of India and the other Esst+ m
peoples Who, by boarding silver in
ornaments and otherwise. because it
was the safest and most agreeable
way Of holding and d. monstrx,,ng the
possession Of wealth. will soon learn
t'as silver has lost its value; thst
their ornaments can no longer he con.
v~rted into MONEY, except Ut a heavy
and AuctuatinR loss, and that the
possession Of gold, no, silver, Is the
prime evidence Of wealth. They will
then buy gold. All the world will
want gold.
The more intensely and rapidly
these elements in tho great pr. bl IN
develop themselves, the quicker will
come the apprF citation Of the danger.
:" suddenly destroying the value Of
he sole standard Of two-thiras Of the
worlds inhabitants. 1t is no, the
United States that will suffer now.
England and Gerc,sny, who have an
enormous trade in manufactured
goods with nations which use onIy
silver. must suffer terribly from the
declining price OF that metal. The
fleets will show themselves in closing
'ao:t ries, and in the transfer OF cap>
i'aI and manufacturing to this aud
some other countries.
the United States, so rich in every.
thing, now feeds the artisans of
Europe with her breads,ufrs. aud Gu.
feed her own people at . still lever
cost. Wa are now producing iron.
.teei, machinery, cotton, cotton goods
and many other things at least ss
chesp'y - they are produced else>
where.
We arc exporting to tho gold
standard countries much more (mo.tl,
in raw materially than we import, aud
will draw their gold here to add to
our own great output.
This country will not Re the suf>
feres in the struggle for industrial ex>
'ste"ce; it Is the safest and most pro-
fitable field in the world for II, in.
vrs'ment Of capital. With untold
wealth, with unrivaled natural re
sources ard with y population un,
equaled for intelligence aud enter
prise, it will become the workshop for
q great part Of the world.
Nevertheless we will welcome an
Agreements among the nations for the
use OF both gold and silver aud for
regulating the worlds money on the
lines OF bank clearing houses. for y
believe It will insugurs,e . period Of
anexsmpled prosperity throughout, the
world, in which We will participate;
but We can calmly await the aw aken.