Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1894-05-02

Whatever difference of opinion may
exist as to the advisability of free
coinage of silver. there is one PROPOSE
ton upon which all patriotic Ameri-
cans agree, viz: Legislation in Amer
lea, by Americans, should be for
America. Starting from this point,
let us consider the silver ques t;on free
from all considerations of coinage or
ratio or other controvo rsial attributes,
and confine our Investigations to a line
of facts and consequences which are
capable of demonstration. and easy of
comprehension.
1t is peculiar situation that con-
fronts us at this time, and demands
solution; AID should every American
agree to the proposition to stop coin
ing silver, and all controversy over its
use as money be forever settled in the
United States. there would still exist
a silver question, whichswe as peo-
pie can not ignore without great in
jury to the material prosperity of our
country, and the inf1iction of poverty.
suffering and bankruptcy upon our
agricultural and mining interests
which must have an evil effect upon
all other industry.
i will now state such facts as are
shown to exist from governmental
statistics and other reliable sources.
1. Food and cotton are the two
principal products exported from the
United States, and constitute fully
one-half of the total exports. (See
table of exports in Worlds Almanac,
or any other reliable compilation
2. Grain and cotton are also two
principal exports of India and Egypt
3. The price of all grain and cotton
exported is governed by what it will
bring at Liverpool, and the price of
our products at Liverpool is governed
by the cost of obtaining them from
some other source
4. The United States is a producer
of silver, and India is a consumer or
user of silver.
5. An ounce of silver is worth one
dollar and thirty-seven cents ($1.37)
in India, where it is used almost ex-
clusively as money, and coined at a
ratio of Is TO l with gold.
6. If silver is cheap III America ap6
dear in India IL will buy more there
than it will here, until the price here
of similar products drops in proper
ton to the price of silver. Therefore
the price of our wheat and cotton in
Liverpool depends upon what silver
costs in America and what it will buy
in India. Any difference between the
value of silver in America and India
will measure the depreciation in the
price of American wheat and cotton.
I. The last proposition is simply a
statement of well-known economic
law which regulates prices and gov
ems all business transactions: but If
rroborative proof is required that
wheat and cotton and other Compel
ing staples are governed closely by
the price of silver bullion. it is only
necessary to compare the average
prices of these staples with that of
silver for the last twenty years and
note the steady depreciation in agri-
cultural products, which has kept
pace with the depression of silver.
8. The average annual agricultural
exports for the past five years have
been nearly s30U, 900, 900 of cotton and
over $500. 900, 900 of food products,
which have been sold at a deprecia-
ton of not less than 30 per cent, which
represents an annual loss to America,
on what she exports of 5000, 900, Oo0.
and at present prices of silver, wheat
and cotton it represents a lo1s Of
nearly double that amount.
9. If silver remains low the present
low prices of wheat. cotton and a.her
staples exported must continu ne, while
Europe can exchange silver in the
east for these articles to our disad-
vantage. The effect of present low
prices must be TO drive men ont Of
mining and raising wheat and cotton
to other channels of industry until
the excessive competition in every
line has equalized wages and profits
on a lower scale.
10. 1t being self-evident that Eu-
rope can buy our staples cheap as long
as she can buy our silver cheap. the
law of seIf-preservation dictates that
we should compel Europe to pay at
least 81. 20 an ounce for silver in order
that we may secure the full value of
our staples. and pay our foreign
debts with the least drain upon our
resources.
IL. With this advantage in Europe's
favor, and especially EDgIand's. who
is the largest purchaser of wheat and
cotton, no international agreement
that will increase the prices of silver
can be expected unless forced upon
them by America
IL. To do this we must make mar
ket for all the surplus silver produced
At s1.29 an ounce, either by purchss-
ing at that price or coming all that
offers at present ratio. of by some
other method which will accomplish
the object desired.
I3. The benefit to America Of an in
ternational agreement to fix the price
of silver (which does not include Asia