Alma record. (Alma, Mich.) 1878-1928, 1894-05-04

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business friction proceeding from this
source have already touched. Here
emphasize the fraud of the system, how
increase in money robs debtors. 1t
forces everyone of them to pay more
than he covenanted to pay, not more
dollars, but more value, the given num-
Der of dollars embodying greater value
at date of payment than at date of con-
tract. This, of course, discourages in
dustry, but it does much more. In
these days debtors must struggle hard
to be able to pay what they honestly
owe; money system which makes
them pay from ten to fifty per cent.
blood money is devilish indeed.
What Loss of Parity Has Done.
There is another powerful reason
why silver ought to be brought back to
a certain regular parity with gold. 1t
is reason of which we in America have
thought little, but we cannot perma-
nently ignore it. refer to the lack of
fixed par, mint par, between the
gold-using and the silver using portions
of the world The distress which the
absence of such a par has produced In
England is one OF the chief causes for
the great increase there of sentiment
favorable to bimetallism. Trade be-
tween England and Italy has come to
be little more than game of chance
All engaged IN it or acquainted with it
pronounce its condition intolerable.
We Americans have been accustomed
to think of this evil as OF little import
ance to us, but we are certainly in
error. All parties are agreed that it is
already desirable and must soon be in
dispensable to increase our foreign trade.
Some would promote this by subsidies
upon steamship lines TO foreign coun-
tries. Others prefer the method of re-
ducing duties.
But no intelligent American will
deny that in some way OF other exports
from the United States of America
must be eventually increased if the
prosperity of our country is to 90 on.
A very great part of the new exports
must 60 to lands of the silver basis, as
China, Mexico, Central and South
America. We ought to be the princi-
pal manufacturers for all those regions.
No other great manufacturing nation is
so near them. Far too long have we
been sluggish touching this important
interest. When the matter is studied
as it deserves to be our people will not
rest until they begin to utilize this gi-
gantic possibility.
Let us break off the commercial rela-
tons with that vast part of the world
where manufacturing is either non-ex-
istent or inchoate, and must grow, if
at all, with difficulty, and let us create
for those teeming millions all their
manufactured articles, taking in retuan
those things which they can produce so
much more easily than we. When
men point out the prosperity that might
come to our country through the intro
duction of such scheme, to ridicule
them betrays no intelligence. Their
thought in itself is magnificent. In
declaring that there is by the means
suggested an opportunity to "dish"
England in the markets of the world,
they are quite right. If this could be
accomplished without involving us in
other difficulties it would be the finest
commercial coup d etat ever effected
since trade began. SO much reason
attends the notion that it seems to me
sheer madness to oppose TO it a policy
like England's present one of stubborn
ly adhering to gold recommendation.
The schism of the world into two
monetary hemisphere also binders the
flow of free capital from rich countries
to poor. That international commerce
may be as beneficial as possible il is
necessary that the most abundant re-
sources from every quarter should be
at the disposal of those in any country
who are endeavoring to build up the
industries on prosecuting which that
country has special advantages. In
calcuable is the aid which progress has
received from investments made by
countries of Astounding capital in less
fortunate portions of the world. Such
blessing takes effect at both poles of
the transaction. II well placed. the
loans pay richly those offering them,
at the same time TINT the borrowing
countries receive a great boon.
Continued Merit Week.