The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1894-10-05

has been true, IL srus today, and will con-
tinue true as long as human nature re-
mains what it is.
What, then, would be the result of the
adoption by the United States alone, of
the free and unlimited coinage of both
silver and gold at the ratio of 16 to Il?
Opening the minis to the free coinage OF
both metals at any ratio other than the
commercial ratio would inevitably result
in monoInetallism. If the legal ratio were
placed higher than the commercial ratio
the result would be gold monometalllsm;
if the legal ratio were placed lower than
the commercial ratio the result would be
silver recommendation. Ine actual COM
mercial rate today is somewhere near &c
to The ratio of 16 to is therefore fan
below the commercial ia, TO- Its adoption
would inevitably result, and that speedily.
in silver monometallism. We have, now
in circulation $604,000,0O0 in gold. This
would at once hurry out a circulation,
accompanied by all paper that calls fol
gold, namely, the 1916, 100000 of green
backs and all the gold certificates. That
is, the result would be such contraction
of the currency as would be appalling.
If any one desires that result, the proper
thing for him to do is to vote for the free
and unlimited coinage of silver at the
ratio of 10 to l. If he would regard such
a contraction as calamity to the country,
the only proper thing for him to do is to
oppose such action with all the vigor OF
which he is capable.
No Relation Between Silver and Farm
Products.
| have often wondered at the audacity
and mendacity that would permit man
to insult the intelligence of American
farmers by saying to them that there is
some relation between the price of metal
dug from the mountains of our Western
states. and subject for it's price to set of
conditions peculiar to itself, and the price
of the product of our broad prairies, whose
price must be largely governed by con-
ditions peculiar to themselves. The
proposition that there is any intimate re
lation between the value of an ounce OF
silver and a bushel of wheat. ton of hay,
or pound of butter is SO transparency
false that l wonder at it's utterance by any
man of character and intelligence
Efforts have been made, from time
to time, to establish some such rela-
allel columns the price of silver year by
year since 1873, and the prices of various
farm products for the same years. 1t is
true that the price of silver has fallen. 1t
is true, also that the prices of farm pro
ducts have also fallen. l am not denying
the truthfulness of the table, but l do
deny most emphatically, the correctness
OF the conclusions to be drawn from it.
do not wonder that men who have little
time to spare from their business, men of
intelligence too, should have been misled
by this table, a copy of which l now hold
in my hand.
AS the purpose of our meeting tonight is
to ascertain so far as may be actual facts,
and to draw from them logical conclusions,
l ask your careful consideration to this
table.
When l came down ON the train this
afternoon from Willmar there were quite a
number of other passengers on the train.
We were moving in the same direction
But it never occurred to me to suppose
that any of them was coming this way
because was coming My Judgment is
that each one had reasons of his own for
coming. South from Willmar / noticed
one or two families on the train, and il
would not strike me as unreasonable to
say that the wife and children were trav-
cling in that direction because the father
was. So if man were to say to me that
there was some relation between the price
of corn and that of oats, 1 could under
stand him, because in certain sense those
two products belong in the same
family, by nature and by use But
when he tells me that there is an
intimate relation. between the price
of an ounce of silver and that of dozen
eggs, / shall want stronger proof than that
they travelled together for day, week,
or a year, even several years. We must
distinguish between mere coincidence
and a logical relation.
But let us look at this table itself more
carefully. | find that between 1878 and
1874 the price of silver fell two cents per
ounce. Cotton fell during the same time
3.4 cents per pound and tobacco fell 81
cents per pound. So much for coincidence.
But during that same time corn rose 10
cents per bushel, wheat rose IL cents per
bushel, butter 3.9 cents per pound, and
every other farm product in the list rose in
price.
Take again the years 1889 and 1890
Silver rose ID cents per ounce. Cotton
rose 2 of one cent per pound. While
corn, wheat, bacon, lard, pork, beef, but
ter, cheese and tobacco, the other farm
products in the table, all fell in price, the
fall in corn being cents per bushel, and
that on wheat being cents per bushel
And thus we might go through the list
comparing any two years in it. The more
thoroughly we study that table the more
completely we will be convinced that there
is no relation whatever between the price
of an ounce of silver and that of any farm
product whatsoever.
The table was prepared by committee
of the Fifty-second congress. 1t is &C
cepted as authority by men of all parties.
But that would be very hasty and super
fetal observation of it that would leave
one with the impression that there is any
such relation between the price of silver
and that of farm products as is sometimes
claimed by men who ought to know bet
ter, and who would know better if thew
gave the subject more careful considera-
ton.
Did you ever notice, too, that the tables
prepared by the silver men never go back
of 1878. l commend their prudence. If
they should carry the matter back far
enough, say even as far back as 1850, the
falsity of their claim would be so entirely
apparent that it would have not even
shadow of a foundation. Let us take their
own statements for If YOu know tbo+