St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-09-24
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Ga the Sd OF ueXt mouth there is 10
he held ~ The city OF St. Louis pan
American blmeatiic congress, to which,
delegates rave been invited from Mex
leo and the si!yer-prndnciug countries
OF SOuti, America, AID FROM d few of
the Nesteru states of tho Union. THE
Invitations 10 the convention are care
fully worded so as to exclude all thOst.
who may he unfayorabie to bimetalljsm
as it is understood 10y the silver inter
estS-a l,imetaiiSm which would force
uuon the country ;he coinage OF doiIarS
OF thc intrinsic value of but 81 cents
and III their distribution none of the
distinguished financiers of the country
have heen included. The call likewise
arraigas the advocates of a sound cur
rency basis in the present congress as
engaged ih Il conspiracy against the
South and West, and aims to arouse an
antagoniSm between the sections that
shalt lead ~ the Adoption by congress
OF she measures proposed for the ben
eft OF the silver miners of few of the
trauS- Missouri states.
The silver men OF the country have
an Gndouhted right to meet and to dis
cuSs such measures as may seem to
concern their Interests, and they have q
right 10 take sucn peaceabie measures
as may be necessary to that end. The
producers Of wheat. OF wool. OF iron
and of copper aud lead have perfect
right to do the same thing. But neither
the silver men nor any OF the other
classes mentioned have a legal Or &
moral right 20 meet for the purpose set
forth in the caiI-to institute boycott
against those who do not agree with
them on the eXpediency OF anv class CT
legislation. Boycotting is declared
mishemeauur Ivy the statutes and is pun
lshabe as such, and those VINO are pro-
iUotiug the st. Louis convention, in adj
vising the bOycottiHg of the products OF
the East, are clearly guilty of viola
ton Of this law, ard are amenable TO its
penalties.
The plea that protection is needed for
silver is the siliiest of nonsense. The
Drcduct Of the mines of Colorado will
always possess value. 1t will be needed
for our subsidiary coin, and it will be
needed in manufactures, Just as lead
needed. Like other metals, as well as
products OF the soil and manufact cries.
its value will vary, as the supply and
the demand shall change. Men of the
present generation remember when dia-
m0nds were scarce and dear, and nonc
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
correspondingly a diamond that could
not be bought thirty years ago for less
than $500 now finds Il SLOW sale at $50.
| The excess in the supply Of wheat has
brought its price down to figure never
| before known. and wool, nOtwithstand-
ing the high protective tariff, is cheaper
than it was before the war. Five years
ago aiumiGum was worth six times
! more than gold. for it was scarce, and
difficult to obtain. The discovery of
process fer its extraction from the clay
has made it more plentiful, and today it
is one of the cheapest Of metalS-sO
! cheap, ia fact, as to commend it to the
'cheap and nasty" Peffer as All article
from which money should lie 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
viii depreciate the value of any article,
from diamonds down to Kansas Iopu-