The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-01-12
PRICES ON Al GOLD BASIS.
az nfthEsTISs sI1rER MANIFESTO
FROM a. y. WHkNRR.

nswvn n 1879 aud Ste nrssits-Cau-s 81
ths Dssisse IN Vsiue OF Fairs, Frodsets
To THs KpIroR or THE sus-Ssr The tirst
net IN the monetary revolution that 10 fast
transferring the wealth Of the world 10 few
hsnds. vas the decentralization Of silver ia
1873; the last and eliminating acts are those
Of 1893, shutting on supply Of money for all
India and the United States from silver. -. .
Under the nrst act the value OF the money
standard had been we'll nigh doubled. and
property halved. to the great gain Of those
whose holdings are in money or bonds or other
forms Of debt that call always for the same
number of dollars regardless Of their value.
and 60 those receiving fixed salaries ....
But great az has been tho change in the re-
tation Of money to other forms Of wealth. aud
especially to the products OF land and labor.
the contamination OF the original con spiracy.
By the closing OF the mints OF India and tho
repeal 1.-THE Silver Purchase law IN the United
Btates. Is the beginning Of greater and more
rapid change over the world than that which
followed the act Of 1879 ....
This may be considered unnecessarily alarm
Ing. but let us look the situation squarsly IN
the face
By the coinage laws passed In 1879 by the
United States and Germany. and by the sub
seauent acts OF the states of the Latin Union
In closing their minis. the free coinage OF sill
yer was discontinued in Europe and the
United States while Germany. Italy. Spain,
Holland. Norway and Sweden adopted the
Eold standard. But several OF these states
have never been able to retain much gold.
and have been obliged to resort largely to pa
per for their home circulation France con.
tinued In circulation her store OF coined sil-
yer. while the United States before resurning
specie payments. provided for an annual sup
ply Of silver money. presumed to he some
where nearly com m ensurate with the increase
Of population. This supply. derived from the
purchase and coinage OF silver on Government
account, was materially increased by the act OF
1890 India. during all this period Of twenty
years. kept her mints open TO al corners to
have silver coined into rupees at the ratio Of
10 to ]. and from this source derived her an
hual supply Of money
But now comes the eliminating act In the
greatest conspiracy ever conceived. a con-
splracy that took satanic genus to devise, a
conspiracy to get possession Of the worlds
wealth By the stealthy method OF changing
the money standard. the worlds pricing In
strumsnt, from gold and silver to gold only.
The order In council closing the mints OF
India and the repeal OF the Silver Purchase
law OF the United States not only shut on
money supply for all India and the United
annually for each. but. at the same time
added those countries to those therstofors
competing for gold. in the same year Aus
trfa Hungary. under the domination OF the
same money power. decreed the gold standard.
Thus In q sfngle year moro than $50 600 900
Of people were changed from one side OF the
scale to the other. and made competitors with
Gold-standard countries for gold for money
supply. 80.
This was q far greater change than that Of
1873 Indeed. no such change In the mono-
tary condition OF the world In SO short a time
ever took place before In all its history.
B The prophecy Of Mr. Alfred dc Rothschiid
1t the Brussels Conference was but q logical
deduction from we'll understood economic
eondltions Although strongly advocating
the gold standard for England. he said:
II this Conference were to break up with
out arriving at any definite result there would
DO depreciation In the value OF that COM
modify which It would be frightful to contem-
plate and nut OF which monetary. panic I.
would onsRe. the far-spreadinR elects Il oss
which It would be impossible to foretell"
Already has this prediction be qua to be YER
ified. and the end Is not yet
H.
Let Us stop TO review frst the fall Of prices
fom 1880 1893. and its ofieer upon prop,
srty and the various Industries. ~ go 30 81
We have not room to repeat long tables. nor
. Il necessary. Evidence 10 abundant. how
sver. to prove that the general average OF
prices OF staple commodities has fallen from
10 to 90 per cent. since 1873, The same is true
81 property generally. except where special
'auses have operated to eounteract the gen.
'rai downward tendency. H.,
The effect was felt FIRST In the prices OF agri- |
cultural products and then In farm lands and !
arm labor In fact the decline fell first on |
lnorganixsd Industries and the products OF |
lnorganized labor There was less resistance !
n these Industries. and gave way nrst. |
industries operating under the control or
lnder the influence OF organized labor offered
tn bborn Resistance to q reduction In priess
ma ..n..i.lIv % +. r.a,.,io. a. -
'"e NoPes'e'' W. rouuehon insWagsa ana
a large measure tho rate OF wages has been
Iept up In organized and protected lnduatrIaa
mt arration a, .nnIov,,.., o,,I - .
~ Nu'eoA " emP.o'heht nuu to'ai sarn-
nRs. even In those Industries. have materially /
decreased, as profits have decreased. Thi.
ondition af things ho. lad IA eon'nIn.,,.
apital In the form OF trusts and CON bInss Of
arious Kinds To uphoId nTIca. md ino..as.