The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-14
rgect of the 16 to Rate.

AL nuestlOn III tuo silNcI arg
vsa nt Let us suppose that congress
i 1nu";ded to try it and that Europe
o,;ll held to a gold standard. Their
' shan we sent our drummers te
' S using nations $1,000 of the
s of these nations would buy
aloOo Of our goods, while LOCO
~ " their money would buy
INIT pr 5000 of Europe's goods. They
o O pay us 30 per cent more for
tbe same quantity and quality OF
Goods ~, than they did Europe, and
sstill there would be 10 per cent pro
At in doing business with
10 because their money
wi vii 90 that much farther. That
thew would buy their goods where
their money would 60 the farthest is
A. sure as that water will run down
hill. What would be the effect of
buving their goods from us? We
would have to double and quad.
ruple our factories and foundries
to supply the demand. Instead of
our factories and foundries being
closed and our people being thrown
out of employment, as they now
are, there would be employment for
three times as many such labor
ers. What would be the effect on
Europe? She could not sell her
goods, because she would not allow
as much for their silver money as
we did. What would be the re
suit? She would have to close her
factories because she could not find
market for goods. And there
would be no way under the shin
ing sun by which she could divide
her trade with US but by allowing
as much for their silver as we did,
and when she did silver would be
worth less than 81 1920 per ounce
the world over, and our cotton
worth at least . to 3 cents per
pound more than it now is, and
wheat % to 80 cents per bushel
more. This would make the cost
of Europe's raw materials more than
they now are, and would enable our
factories to much more successfully
compete with hers in all the worlds
markets. We are not without a
demonstration of this fact. In 1874
India had but eighteen cotton mills
and shipped but 100000
pounds of cotton yarn to
China and Japan, Great Britain
Supplying them with the remainder.
In 1875 silver had fallen 6 cents
per ounce in Manchester and re-
manned the same in India, and In.
dia shipped 5000, 900 pounds of
cotton yarns to China and Japan.
In 1880 silver had fallen 10 cents
per ounce more in Manchester and
remained the same in India, and
India shipped 25, coo, 900 pounds of
cotton yarn to China and Japan
and built more cotton mills. In
1885 silver still falling in Manches-
ter and remaining the same in india,
India shipped 1000, 600 pour DIS of
cotton yarns to China and Japan.
In 1889 she shipped l27, 600, 900
pounds and built more mills. In
1891 she shipped 1913, 900, 900
pounds and built more cotton mills,
and in 1892 while the cotton mills
of Great Britain were closed down
In lock out for six months India
was rushing eight more cotton mills
to completion. In 1891 India ship.
ped more than six times as much
cotton yarn to China and Japan as
did England. Why this wonder
tul development of cotton manu-
tacturing in Indiap Because in
1897 the same amount of silver, the
only money of China and Japan,
that would buy and pay for 100
pounds of cotton yarn in Manches-
ter would buy and pay for 1876
pounds of the same quality of yarn
In India, and the Chinese and Jap
anese merchants being sensible men,
bought their goods where their
money would 60 farthest. 1t was
the destruction of British cotton
manufacturing interests that aroused
her to stop free coinage of sill.
Yer in India and as soon as our
congress has been foolish enough
10 establish a ratio of 25 to | be.