Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1894-07-18
SILVER AND The TARIFF
WON'T WORK TOGETHER THE UNITED
STATES SHOULD ACT INDEPENDENTLY.
Senator Teller Discusses Ex-Speaker Reeds
Scheme for lacking Silver Tail
~ the Protection Kite.

Not long since, Hon. John Davis of
Kansas hand d Tom Reed document
on the money question. Mr.. II ed
went TO his desk, sat down and read
1t through. When Mr. Reed returned
the document he remarked:
There may be something in this
money question / never thought
there was-but | doubt if the want of
money brought on the dark ages"
short timet afterward, Mr.. Reeds
article in one of the English reviews
appeared. This conve rsatiOn being re-
peated to Senator Teller, also Mr..
Reeds plan ofuniting protection and
free coinage of silver, Senator Teller
said:
am pleased to see that Mr.. Reed
has turned his attention to the finan-
cial question. IL is little late to COM
mence an investigation of subject
that has been prominently before the
people SO many years, but better late
than never. know if he will give at
tentiOn to the subject he will realize
the Importance of the question as he
never has, and believe he must with
such examination, become an able ex-
ponent of true bimetallism that is ONLY
10 be attained by free coinage of silver
The great trouble with the silver
question has been that a great many
eastern people tt ought Of it only as
affecting the miners and producers of
silver. They did not consider the re-
latiOn that silver bore to tire money of
the world and the effect it's demonet T.
alton had on prices, and the burden it
put on commerce between gold stand
ard countries and silver using coun-
tries. In other words, they have not
been able to see that the monetary SIS
tenn of the world was disturbed and
disorganized by the treatment accord
cd to silver. They could not see any
relation between the fall in prices and
general stagnation of business and the
price of silver bulion in the markets
of the gold standard countries. All
sorts of excuses were invented to ac-
count for bad times. Over-production
has been one of the causes more fee
quently assigned than any other, but
when production fell off, such fall
made no impression on the advocates
of gold standard-they continued to
tn of Over-production. According
TO their philosophy, the people starved
because food was too abundant, and
went lily clothed because there was too
much clio hing in the world. Howsillv
and absurd the talk of over-production
has been may be seen from the fact
that the worlds crop of wheat was last
year 325, 00O,00 bushels short of the
normal demand, and wheat was never
80 cheap as now. And in the article of
Indian corn On which to a great degree
the worlds supply of meat depends
there is sho tage of nearly five hun
dred million bushels; aud yet the price
of both corn and meat is on the decline
Manufactured products throughout
the world have fallen off during the last
year. nearly if not quite, TWENTY-FIVE
per cent, and yet prices continue tU all
and the fall i'll price is more marked rs
to those articles denominated neces-
saries of life than OH those considered
luxuries.
The financial disturbance is not con-
fined to the United States, but EXISTS
throughout all the gold standard conn
tries ofthe world. 1t was felt i'm En-
rope sooner than here. The present
condition in this country was seriouIv
tire atened in 1890, but the rassaoe of
the Sherman act releasing $50. OOO. 600
II the Treasury Department that had
not been available, and the MONTHLY
of issue about four millions of Ieoal
tender aper money ba ed on the pur-
chase of silver bullion, stimulated bus-
mess to such an extent that for n time
the threatened financial disturbance
was postponed. and this country did
not suffer as other gold standard conn
tries did. But, during the summer nc
1892, il was apparent that we were faeI-
ing the effects of the cause that had dis
turbed Europe. Times rap dly grew
worse until the month of June last year
when the world was startled bv the
announcement that the English gov.
ernment had closed the mints of India
10 the free coinage of silver. The of
feet of this was TO close great number
of silver mines and throw out of en-
ployment great number of miners in
the west, and the financial condition
of the country grew lapidly worse.
The enemies of silver and the friends
of the gold standard denounced the
Sherman act of 1890 as the cause of all
this difficulty, ignoring the ia t that
the greater part of Europe was suffer
ing even more intensely than we were.
The President called Congress toreth- !
ca and demanded the ret cal. After I
three months of session, the act was
repealed. We wsre promised that the /
repeal would bring immediate prosper.
ity. Senator Sherman declared in the 4
Senate, that in ten days after repeal,
business would resume its ordinary
course; and in urging vo:e on the bill
TO repeal the Sherman act, he said:
''It we would try it to-nlorr " after
81 the long debate that has been had
and Iii pose of this que ton as We think
best for the people of the United States.
willie you are as unning vour resrorsi-
tG.ty, We would "'.dd:2 tue hearts Of