St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-08

selves to one metal, OF which about
sos, 100000 is produced annually, while
about SS0,000,000 Is used annually in
the arts, leaving but 81, 100000 per an
mum of increase, where $3.50, 100000 per
annum is required to keep up with the
natural growth of population. Are we
not moving into the middle ages again?
Should we stand by in the presence of
these dangers and see one-half of our
metallic money demonetiZed to increase
the wealth of the wealthy and the pow
erty of the poor? How long can man
stand the steadily increasing pressure?
How soon will the descending screw
bring out the red blood? When will
universal discomfort result in revolu-
ton? Look where we will we see the
danger signals hoisted in the blue sky.
The oppressed are more likely to be-
come savages than Doors. Man starved
is the most dangerous creature on earth;
well fed and happy child can govern
him. Can we afford to
Plunge the World
into ruin to increase the wealth of the
Rothschilds?
Gen. Sanborn recites, in his preamble,
that Europe will not permit the repeal
of the conditions which enrich her at
the expense of America That is it pre-
cisely. She has got us by the throat.
In 1776 the ''old cOntinentalS in their
ragged regimentals," freed us from the
political power of Great Britain; but by
the far-sighted sagacitY of her able lead
erS we are still commercially her COL
oniSts. The whole world pays her trib-
ute. The 5000, 100000 of interest which
She draws from foreign natlonS,o our own
included, saves her from falling into
bankruptcy. She buys our silver at Is
cents on the dollar deprecated by our
own corrupt congreSS), takes it to India,
buys up Hindoo wheat and cotton at 100
cents ON the dollar, for the Hindoo
knows nothing of gold, and silver has
been his exclusive coinage for thousands
OF years; then she brings that wheat and
cotton to Liverpool and breaks down the
price of our exports; and this is one Of
The reasons why wheat is 45 cents per
bushel in Minnesota and cotton has
been three cents per pound i'll Mssis-
sippi. We are running our own people
and closing up our silver mines
to help John Bull develop his
Indian empire. In June, 1886,
at an important meeting of the British
and colonial chambers of commerce,
held in London, Sir Robert N. Fowler,
M. p, the London banker and eX-mayor
OF London, said: "rhe effect OF the de-
probation OF silver must finally be the
ruin of the wheat and cotton Industries
of America and the development of
India as the chief wheat and cotton eX-
porter of the world" Because we were
not ready to see our Worklngmen beat
EN- down to the level of old-world
wretchedness England revenges her.
self by
Creating a Vast Rival
for us in Hindostan, and we furnish the
very legislation to enable her To do 1T.
And we call this craftsmanship. We
cut the CLUB out of our own forests with
which to beat out our own brains. Look
at the results: Iii 1878 corn was worth
40 cents per bushel: in 1889 it was worth
% cents. In 1873 wheat was worth
$l.15; in 1889 it was worth SO cents.
Oats in 1878 was 81 cents: in 1889, 20
cents. Barley in 1878 was worth 9l19
cents; in 1888, 80 cents. In 1878 mich
cows were worth $33 each; ill 1899, S22
each, while the fall in the value OF
land East and West has been CORE
spondingly great. Saetbeer, Sauerbeck,
Palgrave, the London economist, all
show fall in prices Of from 20 to 81 per
cent, or rise in the purchasing power
of gold of from 40 to 81 per cent since
the decentralization Of silver.
But it is said we must have gold coin
to pay our debts abroad. The great bulk
of our commerce is in the commodities
which we produce. Gold is but COM
modify. This nation is a world in
ITSELF There are those listening to me
who will see this country with 100000
900 population. Already the provinces
north OF us are ready to
Fail Into Our Lap;
while few weeks more will behold the
stars and stripes il Big from the Islands
in tie heart OF the Pacific ocean. We
can produce everything necessary to
the happiness OF man. We are indie
pendent of the world. If a ring of fire
us the rest of the globe
would suffer. not We. Every interior
ence of the old world in our affairs is to
silver was secured by the corrupt use of
British gold. Gen. Grant. who signed
the bill, declared two years afterwards
that he had never known. to that hour,
that it contained provision for the de-
monetiZation of silver. Judge Kelley,
who reported the bill, stated, on the
floor of congress. that neither he nor
Gen. Garfield knew of 1t. Mr.. Blaine,
speaker of the house that passed the
bill, made the same declaration. And
now we are asked either to perpetuate
this wrong OF take issue with It, For
one, | would rather cut loose from all
metallic money than go down the awful
steps that lead to the degradation of man
kind-perhaps to a sea of revolution and
anarchy. We are world by ourselves.
We must protect our civilization at all
hazards.
Repeal the Sherman Law.
At the conclusion OF Senator Don
nelly's speech Senator Dean offered the
following amendment:
That the policy of the government of
the United States should be to suspend
all purchases of silver, and not to per-
init the coinage Of silver except for sub
sidiary coins until after joint confer
ence with the civilized nations of the
world an agreement shall have been
reached establishing the ratio of gold
to silver and siver to gold, and fixing
the value of the money to be coined
from each.
In support of his. view of the ques-
ton Senator Dean made scholarly
and clear-cut address, in which he gave
a resume of the financial legislation of
this country from the beginning down
to the present. He pointed to the fact
that from 1905 down until 1886 no
silver dollars were coined by this
country, and only Ss,O0O,O0O in silver
was coined between 1886 and 1878. The
reason for this was that silver was at
premium. The history OF the demone-
tization of silver in 1878 was examined
and the bill that accomplished this fol-
lowed through its various stages. The
real blame for the demonstration Of
silver should be laid at the door of the
nation responsible for 1t. This is Ger
many, which country, after the Franco
Prussian war, went upon gold basis.
This was followed by other countries,
until now the United States and Mexico
are really about the only silver coun-
tries.
Time to Move,
"There are some ominous signs" con-
tinued Senator Dean, land [ ask my
friends to observe them. Last month
about s13,0O0,000 in gold was shipped
to Europe. Last year only 100000
went in a month. The financial jour
nails say it is because we owe an i'm
,,,o,,-o n m ouDt in Eur0Da and aS fast a9