Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-10-01

"a
this country from the organization or tue
mint 10 the present time. We had
silver standard until 1884, and then
gold drove silver out Of the country, anu
gold was the standard until lSGl, when
paper drove both out Of circulation untll
1919. La 1879 gold again became tne
standard, which measured all values IN
This country. At Is now the standard,
the uniform standard Of value OF the
commercial world. We are invited TO
abandon this STANDARD and 20 10 q De
preciated standard OF another metal IL
will be lust as fatal as II we went to
the deprecated standard OF paper money;
The only difference between paper ana
the deprecated standard of metal below
that Of the uniform standard OF the
nations with which we trade is that
paper admits of further expansion than
do the metals. That Is all
Suppose. then, Mr.. President, that
gentleman in Liverpool wants TO buy
5000 worth of cotton. He gives SlOVo
In gold 20 his agent and sends MN 10
Texas. That agent, before he can buy
the cotton, has 10 exchange his g0ld LOT
money of account in this country, which
Is silver. because the cheaper metal al
ways drives the drearer away. Dol
lars do not circulate In this country in
gold when one gold dollar will buy two
silver dollars. When debt that is
promised To be paid in one dollar one
OF these silver dollars will pay " the
other will 90 Into the pocket OF the
man. Therefore the cheaper money a.
ways drives out tue dearer money. To
that rule there Is no exception. ihat
man comes to Texas. and first he buys
5000 of silver with $1,000 of gold. Cot
ton IN Liverpool is worth 10 cents
mound In gold aud IL Is worth 20 cents
a pound ia silver In Texas, minus the
cost of transportation, etc. He invests
in silver, but before lac can buy his cot
ION his silver has decreased in value
10 per cent. Then what has he got to
dor He has to buy 10 per cent more
silver. Instead of having 5000 In silver
10 buy the same amount OF cotton, he
must have 5000 worth.
Who is going to lose thut2 Who In
all the ages has lost thAtf Not the mid
demnn-ncyer. The business can not be
carried on in that way He understands
his business thoroughly and he makes
the producer pay 1t; and the producer
Is bound TO pay IL. He can not escape
Il. II Is the law OF economy that every
producer has TO pay all the charges OF
produrtion, transportation, aud move
ment to the consumer, and then sell az
the market price. He has to pay the
cost Of production. He has to pay the
freight and then he has to pay insurance
against loss; aud here Is another kind of
insurance which he has to pay also.
The 10 per cent has to be paid ont OF
the pocket of the man who makes the
cotton In the field in Texas. That Is
! whore Ii comes from.
Now take $3OO,UOU,WD-thc value OF
the cutton crop OF the United States
and you Will see what bounty tho
! cotton producers OF this country are
| paying ON the one single item Of cotton
alone On account OF the Introduction OF z
variable, exchangeable, elastic, flexible
| standard which great many OF our
| unnulp are demanding The old Demo-
cratic doctrine was stable, inYariable
standard OF value
When we consider that the farmers
| In this country agc mainly interested IN
keeping "a stable standard of value, be
| c.iuse they are the people vino trade in
| foreign COMMITTEES, IL Is strange that they
| demand "a flexible standard Look at
/ the exports, From q to 81 per cent of
| them are farm products whose prices
Hare fixed in the foreign market by ihc
| gold standard; anu of all the products
that are shipped from American firms
| bottom stands inst, More than 90 per
| cent Of all the cotton rnised in this
| qountry upon which the whole prosper1-
! y Of 2OOOOOuo Of people depends, and
| Ilot only their prosperity, but their very
| civilization Is dependent upon that plant
is sold according 10 gold standard;
Ghld fixes the value Of every pound
of cotton grown In the United States.
Ile farmer knows what cotton Is
worth ia Liverpool every dny. lie reads
IN the morning papers that IL is worth
" much In Liverpool and W much III
Galveston. lie knows the cost OF IT.
movement between these two cites ana
between MS farm ana ms market lie
can not be FOOLED about that But when
the gold standard is b9hished and u
deprecated SILVER standard taxes as
place IN me country then he has two
standards instead 81 one the standard
OF lhe commercial World ia Europe ana q
standard below that at nome ana con
stmuy tending downwnd' Silver has
ialeh as uuch as ~ per cent IN one
Week TINS year; II the farmer has tt
insure against the depreciation OF silver
w'nch ne does aud u the depreciation
Is 10 per ceht, when we remember That
the annual value OF farm products Is
St'o9p,YVy,uOV, me price he VIII pay foi
ms flexible whistle VIII be four hundreC
and htty millions year All of oul
statesmen nave denounced the plundel
OF lAoOr nE appreciated currency ant
IN unstable standard OF value, aud non,
OF them have been more emphatic that
Mr' Jefferson lie has told Us of th'
continental money anu the paper none,
ISSUED by me states, me whole OF which
exceeding iiNe hundred millions, perishet
IN The hands OF its holders. He has tolC
US Of the French assignats that werl
ISSUED to the amount OF S9,WOOOO,OuU
every dollar OF winch persisted, but Will,
II was IN existence and continually depre
eating and continually being forced b!
{ sorernmeuial power ON the people, wa
gradually uetFhudlng and running them