The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-05-02
A VALUABLE LETTER.

Los Angeles Cal, April &c. 1894
A VALUABLE LETTER.
DiabOlical Scheme to EnslavA All
-. Labor-The Silver Question.
Mr.. Editor "Popuist Farmer" calls at
tention to my article of January TO- and
asks for more light, and suggests that Mr.
Donnelly prepare a circular giving facts
and figures to the effects of the de-
monitization Of silver, and losses to farm
ers. A good suggestion, and one that I
hope Mr.. Donnelly will be willing to carry
out. In the meantime, in order to keep up
an interest in the subject, I will serve a
part of the information asked for but
Populist Farmer must remember that
space in The Representative is valuable and
that the subject is so vast that it would
I'LL several full numbers Of the paper. For
this reason l hesitate to undertake the dis
cussion of the great question in a short
newspaper. The following facts and figures
newspaper article. The following facts and
figures quoted from a speech delivered
by Senator William H. Stewart, Of Nevada,
in the senate of the United States, Friday
September o. 1893.
Before quoting the speech, however, I
wish to explain that l read several daily
and weekly newspapers that represent the
two old political parties, and was convinced
from what they printed that the people
of the Democratic party, as well as those
OF the Republican party, were deceiving
the people, and that the party press was
the medium through which they reach the
people. l then wrote to several senators
and members OF congress for public docu-
ments l wanted to get the facts and the
arguments on both sides and wrote to
members of all political parties, and nearly
all of them Responded 1 am now satisfied
that there is diabolical scheme to en-
S.la oil Lob OVID 1,r;v,
conditions in this country, and that Grover
Cleveland, John Sherman ct al, led on by
the money power of England are all work.
ing to consummatef that end.
Jones' chart and tables No. 5, showing
how the price of silver bullion and the
amount Of money in circulation controls
prices for wheat and cotton, and through
them prices for most other products of
American labor
Chart and tables entered according to
act of congress III the year 1893 by George
o. Jones, in the office of the Librarian of
Congress, at Washington D. c.
1t is not so much a question of the kind
of money as it is 4 question Of liberty
Liberty; LIBERTY
Senator Stewart said:
Il have in my hand diagram prepared
by Mr.. Geo. O. Jones. which takes the arti-
cles OF wheat and cotton, and compares
them with silver, showing the great sta
pllity or silver as measure of value
showing that silver is the honest money
that measures the contract as it was origi-
nally made; that it is the money of the
contract and keeps pace with other prop
erty, with cotton and wheat; while gold has
gone up on account Of the increased de-
mand That is established. I will insert
this diagram, together with the explana-
ton OF Mr. Jones, in my remarks. They
are as follows:
All the figures showing average prices
covering Of
tion since 1872 are based on monthly re
ports made to the departments at wash
1ngton. The others show market prices for
wheat, cotton and silver at the beginning
ana END OF the first five months of Mr.
Clevelands second term
This chart and these tables and st.+a
ments prove beyond the possibility of die
pute that 1t is the price of silver bullion
and the amount of money in circulation. that
controls prices for products of labor in this
country.
WHY ENGLAND WANTS US TO HAVE
SMALL VOLUME OF MONEY
"A leading and able editorial printed in
the London Economist, in 1883, said: Eng
land being the chief creditor nation of the
world, 1t is to her interest to keep the vol
uhle OF money as small as possible, in
countries from which debts are due in or
der to get more of their products in nav
ment of interest due to her citizens" The
yearly interest no" paid by this country
TO england is said to be about 5000 600 NN0
while at the same time American what
and cotton and American wages are no1,
competing in our markets for about ono
half the prices they were when that article
was published
THE DOWNFALL OF AMERICAN
WHEAT AND COTTON PREDICTED.
At meeting of the British and Colonial
Chambers of Commerce. held in London. in
1886, Sir Robert NJ Fowler, a member of
parliament, banker and ex-mayor of Lon
don said that 'fthe effect of the deprecia
ton of silver must finally be the ruin of
the wheat and cotton industries of America
and be the development of India as the
chief wheat and cotton exporters of the
world"
An export duty prevented India from
shipping any wheat out of that country
before 1870 nor did she ever manufacture
any cotton for export until after 1880. her
wheat now completes with ours in nearly all
the markets of the world. She exported
100000 bushels of wheat from her crop
Of 1891, and sent abroad over 10000 600
worth of manufactured cotton during that
year. Is Mr.. Fowler's prediction so rapidlv
coming to pass, and will an American con-
gress aid in fastening It? These are cues
lions that now assume serious Importance
in this country. rs III
Loss per year on cotton by
ARKANSAS ............;........... 5000, 600