The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1894-03-30
HOW GOLD HAS ADVANCED.
Ruinous Fall In Prices and Debtors OF
pressed by the Single Standard.

INV SOGO tISNO ~
Ruinous Fall In Prices and Debtors OPP
pressed by the Single Standard.
The correct method of stating the fact
that silver has just now fallen to the low
est figure ever reported is as follows: Gold
has advanced to the highest figure upon
record. The assertion that the silver dollar
is worth but so cents really means that the
gold dollar is worth S1.5O. The method of
getting at the truth is to consider the pur-
chasing power of the two dollars at their
bullion dollars at their bullion value. The
gold dollar will now buy much more of
wheat. cotton. wool, petroleum or any
other staple commodity than at any previ-
GUS time. Thus it has gained so much in
value that larger quantities of real wealth,
the product of human toll, must be given
to obtain possession of the coin.
But silver will buy no more than it did 10
or 20 years ago. There has been no decline
of prices in silver using countries like
Mexico. To the man in Mexico it is plainly
apparent that gold has gone up. TO the
man in the United States, deceiYing him
self with the notion that gold remains stat
iOnary, it appears as if silver and commO-
ditieS had declined. There can be no true
comprehension of this important question
until that delusion disappears. The fact of
the situation will be grasped when there is
realization that gold is advancing.
Because it is advancing American and
European banks are stuffed with idle
money. Men will not engage in new en-
terprises requiring borrowed funds upon a
falling market. Because it is advancing the
dimensions of every debt are increasing,
the burden upon the debtors of the world
becomes heavier, the wealth producers are
urged toward poverty and bankruptcy, and
the trade of the world is diSordered. A day
or two age the little silver using republic
of Guatemala succumbed to the difficulties
of an effort to pay in gold at so per cent
premium debt contracted when gold and
silver were at par. In India the govern
ment and the people are nigh to deSpera-
ton because they must now send to Eng
land 270,0O0,O00 rupees annually to pay a
tribute of e90,00O,000 which could have
been paid few years ago with $50, 100000
rupees. In our own country we pour our
products into Europe to meet obligations
which grow larger as we try to extinguish
them. We sent abroad wheat at 60 cents
to creditors who lent their money when
wheat sold for SIPS. We ship them cotton
in payment of debts which could have been
paid few years ago with just half the cot
ton that is required today.
1t is not wonderful under such circum-
stances that American western farm mort
cages are in default, principle and interest
to the amount of hundreds of millions of
dollars or that the farmers are becoming
desperate as ruin stares them in the face.
II is not remarkable if European trade with
silver using India is encompassed with
difficulties which make it business for
gameSters or that the frightful Shrinkage
of values threatens to produce panic in Cal
cutta and Bombay. Even our itch nation
could hardly endure the strain which is
putupOn the impoverished HindooS. Prices
fell last week. They will fall next week
and the next and the next. AS they fall the
tension becomes greater, and unless all
signs fail there will soon be collapse and
bankruptcy wherever in the wide world
the debtor is exhausted by the mercileSs
grasp of the creditor,
With this view of the situation clearly
before them intelligent men may readily
determine that the silver question cannot
be regarded with the contemptuous indif-
ference allotted to it by the majority OF
American newspapers. 1t imperitively re-
quireS consideration. 1t must be disposed
of IN accordance with the requirements of
justice. 1t stands for a contest of fOrmid-
able proportions between the money con-
trolling classes and the wealth producers of
the earth. Victory for the former means
slavery for the latter. Permanent victory
is impossible in this age of enlightened
civilization.
Germany is studying the subject through
a commission of scientific men. In Eng
land bimetaIlism makes swift Roadway I'M
der the direction of wise economists and
statesmen. In the United States deeply
concerned for the triumph of silver, gold
recommendation will be doomed when the
people perceive the facts as they are The
recent formation of the bimetallic COM
mite in New England is hopeful indica-
ton that the popular intelligence is to have
such enlightment-C. IL. C. in New York
Press.