Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1894-10-11

lures, improved transportation, inventions,
banking, ETC., because all of these increased
relatively as rapidly prior to 1873 as they
have done since; and for 20 years prior 10
1873. there has been since; but, on the con-
trary, there was a continual rise. Besides,
it is very strange that this fall began set
til 2 in the exact moment when the link was
broken between gold and silver. Again, il
is absurd that a revolution of this character
could have affected gold prices so seriously
and should have left silver prices unaffected.
Silver is the standard Of value of more than
haf the world, and where il is the standard,
prices have remained stable, while in all
gold standard countries prices have fallen
from 40 to 80 per cent, Again, il this fall in
prices is attributable TO improved machin-
cry, thereby causing over production. how
are We to account for the fall in the value of
landr Certainly there has been no over
production of land, and We know of no new
ly discovered methods Of manufacturing land
cheaper; and in this connection, too, il must
be borne in mind that fewer acres Of land in
proportion to population are now being cul-
tivated than have been 25 years. What then
IS it that has caused this general de-
cline in prices7 II has been brought about
simply By the shrinkage in the volume of
money relative to population and business,
which has never yet failed to cause an in
crease in the value of the money unit, or dol
lar. and a consequent decrease in the price
of the commodities for which such unit was
exchanged. II the value of money in circu-
lation be made to bear a direct and steady
ratio to population and business, prices
will be mainland at steady level, and what
is OF supreme importance, money will
change but little in value.
8th-Every money commission which has
been appointed by different governments,
such as the United States, England, Ger
many and France, and all the monetary con-
ferencss, have said that beyond any doubt
during the last 20 years gold has continually
and steadily appreciated in value; and that
this appreciation has been the real cause of
the tremendous fall nprices which have tax
en- place in all values and the great financial
disturbance we have seen in all gold using
countries. The evils resulting from this are
80 we'll stated by the late German silver COM
mission, which has just adjourned, that we
quote from their report as follows:
"The advance in the purchasing power of
gold proved, in our Judgment, beyond refu-
tation, brought about by the disuse of full
silver money and the adoption of a gold
standard, has demonstrably produced the
following industrial evils:
"1st-An necessarily heavier and heavier
burden is falling on the dettor in favor of
the creditor.
"2d-This injury to the debtor must at last
involve the creditor, since the debtor is be-
coming unable to pay.
I'D Capital cannot permanently keep
clear of the injury which debtors suffer, nor
can it remain unaffected by the continual fall
in prices, which will certainly cause falling
of IN production. Obligations made payable
in god lead to the bankruptcy of individuals
as well as of states.
"4th-Constantly increasing difficulty be-
sets countries which are financially involv-
ed by having gold debts 70 pay.
"Instead of being able to reduce their
finances to order, they are confronted with
the increasing premium upon gold"
After reciting many other evils, which are
sure to follow, they say:
"Nothine but restitution of silver to It's
former co-equality with gold as monetary
metal can bring the needed relief; that
the pesistent fall in general prices would
cease; the Or. ces of all products would again
be determined in normal way, and agricul-
ture and other industries would flourish
anew"
9th-We affirm that wherever and whenev-
er in the world prices have continually declin-
ed over any length of time that financial dis
order, destruction of credit and misery and
poverty among the people have inevitably
followed. We challenge the advocates of
gold standard to point out single instan 20
in the history of the world where this has
not been the case, and we ask how it is posi-
BILE, under sCch conditions, for confidence 10
be res ored or maintained?
10th-That there has been no over produc-
tion of silver; because, for four hundred
years prior to 1873, the relative production
of gold and silver was not quite Is of silver
to of gold; and for the twenty years since
| 1873 it has not exceeded 16 to l.
11th-That the free coinage of silver does
NJ int nd
disturbance OF values. This is 80, because
| it is an utter imposaibility to produce the
precious mentals faster than they can be abb
sorbed for money purposes. The history of
their production in this connection proves
conclusively that any rise or fall that has
taken place in prices has always been very
| gradual, extending over number of years.
This was clearly proven during the great
production of gold during the twenty years
beyond douot that it took that number of
years for prices to rise 20 per cent.
Remember, too, in this conneotion, what
| the increase in the population of the world
| during the last twenty years has been. Ac-
| cording to the best estimates it has amount
ed to no less than two hundred millions of
people, and rather more. Now, think what
this means. Why, the whole population of
England is only about thirty millions, and,
therefore, it is as much the same as if some
six or seven new Englands had been added
to the world in the last twenty years, If they
had been, ask yourselves what sort of an in
crease in the money supply of the world
would have been needed?
| 12th-That this gold standard was imposed
and continues to be imposed upon the peo-
pie of the United 8 ates by England. In
speaking of this, Senator Cameron, of
Pennsylvania, said: "Yet the bankers of
London have said that we must submit, and
we have submitted.
$50 strange spectacle has never been
seen in our country. Argument and even
the compulsive proof brought by world wide
ruin, seems to be helpless against this aston
ishing power. England holds Us to the
single gold standard by the force of her capi-
tai alone, more despotically than she could
hold us to her empire in 1776. The more
threat of her displeasure paralyzes man
kind"
As true Americans, we should be amazed'to
hear that no money is good money unless ii
be the money of Great Britain. That when
ever this country-England-says that we
may use silver as full legal tender money,
that we may do 80, and that when she says
30, silver shall be good American money.
Isn't 1t absurd that seventy millions of intel
ligent people should submit their entire
business to the dictum of any foreign gov
ernment?
13th-That there never has in the world
been such thing as International money,
and in all probability never will be.
14th-That there is not a single obligation
of the United States government, other than
gold certificates, that is not, by the explicit
terms OF the contract, payable in either gold
or silver; and we demand of the servants of
the people that they administer the laws ac-
| cQrdinQ to the terms of that contract. Who
can say that this is not right?
15th-That gold alone does not afford a
sufficient basis upon which our paper cur
rency can safely rest. This has become so
apparent that Senator Cameron was forced
to say: "We want real money-coin; yet, if
England succeeds in her obstinate effort to
destroy the value of silver for coinage, moth
| ing can save US from paper, and in that case,
irredeemable paper-6at money-stares US
square in the face.n
16th-The advocates of the single gold
skapdor ri ooptipuollu haPOiDO uD0n tha