The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-05-11
AMERICAN SILVER.


AMERICAN SILVER
There is much that can be said in
defense of America debating the price
of silver to the world. Such as the be-
nefit to the American farmer in prices
of what he sells at home. The general
prosperity which is dependent upon
the rewards of agriculture and mining
being adequate. The building up of
American commerce and the restora-
ton of commercial navy, as the re-
suit of increased trade with Asia and
South America.
But as these are all matters over
which there might arise discussion and
controversy, it is enough to show that
we cannot ignore silver without great
financial loss, and that we must either
coin or buy the worlds surplus every
year to prevent it depreciating the
price of all the cotton and grain we
send abroad. That any ratio greater
than 16 to l would perpetuate the de-
probation of silver, and consequently
the value of what we sell abroad as
long as our Asiatic competitors value
silver at the rate of Is to and will ex-
change their products for it on that
basis.
To prevent the export loss of value
of 200 to 400 million dollars annually,
which must exist as long as silver is
worth 70 cents an ounce in America
and S1.37 in India, it would be a good
business transaction for America to
expend S10O,O00,000 annually, if neces-
sary, in purchasing silver at S129 per
ounce, even if we buried every ounce
in the deepest waters of the Atlantic
ocean, for the investment would yield
over S10O,G0O,OOO annually to the pro-
ducers of this country.
No good business man would furnish
customer with the means to. buy
from competitor at about half cost
and thus compel himself to accept
lower prices. That is what we do when
we let silver be sold at 70 cents an
ounce, which our competitors will &C
cept at S1.37 an ounce. A policy which
is ruinous for It business man is ruin
the whole value of the product of our
silver mines annually in the deprecia-
ton of value in wheat and cotton
sent abroad. We might close the
American mines by paying the miners
wages and the owners profits for re-
naming idle, but we should yet have
the surplus silver of Mexico and South
America to take care of. Free and
unlimited coinage Will do it without
spcnhing IL dollar OF government
money, but If there IS danger of such
policy making money too abundant,
agreo on t. free coinage act, there
should be no difficulty III providing a
spbstituto which will prevent Europe
from buying silver at less than S129
per ounce.
= Such action should be prompt and
take immediate effect before European
spectators anticipate tho rise in value
aud buy up foou and cotton at present
low prices to secure the advantages of
the rise in values which should go to
the producers and merchants of Amer
lea The immediate effect of an action
which will increase the price of silver
must be to cause European money to
flow to this country at once to secure
our products while low, and the great
er the advance in silver the greater the
advance in wheat and cotton which
must follow, and the greater stimulus
~ -1,D,r 81 n
exchange therefor.
This viii bring immediate relief from
the money stringency by restoring
confidence, which always comes with
rising values, bringing into circulation
the money now boarded in vaults and
stockings.
Those who object to silver coinage
on the ground that it will not maintain
the parity of the metals will not deny
the ability of the American people to
buy and pay for the entire annual out
put of silver which Europe takes every
year. which would not require over
s1O0,O00,000 to do, and such "a course
would compel Europe to accept the
price we may establish. Why should.
Ne hesitate to do what is so manifestly
necessary that we should do to pre-
serve our independence and at the
same time so profitable from ffnan-
ciaal standpoint? America, as a pro-
Queer of staples and money metals, can
dictate the. financial policy of the world.
Fodo SO it is necessary that she should
atiah hazards preserve the parity of
both metals SO that they can neither
be used to depreciate the price of her
great staples.
krts.s-- An INDUSTRIAL ARMY.
Hon. gohR Davis, that true hearted
Kansan and man OF. the people, intro