Mohave County miner., 1894-09-01
Our Doom Approaehins.

rency should b kept a. valuable AZ that
d gold using countries for the benefit Of
our foreign exchanges, in order that
those who bring goods into this cou.trv
Tor sale aud are compelled 10 make nav.
ments abroad shall no. he qaired 10
pay the difference between the value OF
our currency and that u the countries In
which these payments are made.
President Van Buren said in his mes.
sage TO congress in extra session in Sep
tember. 1887, called becsuse Of the then
financial crisis: 1T Is not designed by
the constitution that the government
should assume the management, Of do.
mestic or foreign exchange. II is in.
deed authorized to regulate oy Law the
commerce between the states, and TO
provide general standard Of value or
medium Of exchange 10 gold and silver
but It 10 not It's province to aid individ-
uals In the transfer Of their funds. An
justly might it he called upon for the
transportation of the merchandise. These
are operations Of trade; they ought to
b conducted by those who are inter.
ested in them 10 the same manner tha,
the incidental difficulties are encountered
Sy other classes OF citizens"
This was the democratic doctrine OF
that period II was just after the de
cratic party bad won it's great and
crosning victory in obtaining mastery
OF the money power. But the scene has
changed. Now money is king" and
rules not only the action Of the govern.
ment but the destinies OF the people. II
10 no longer our servant, but our relent-
less master.
II silver should become az valuable ss
gold, as it was from 1903 to 1873, upon
the ratio of l51a to l, when it was thrown
out OF the money stock by this country
and the commercial nations OF Europe,
there would be no premium for gold, and |
ii would not make the sIightes. differ.
ence to Us whether silver or gold pre-
dominated in our currency.
II this country should open its mints |
to the unrestricted coinage of silver up
on our present legal ratio OF IL to l, it
would, with the assistance OF silver using
countries and the 81 500 900 900 Of silver
used as national money in Europe, which |
is not likely to be the case, that that the |
difference should then be 5 or even 10 |
per cent in favor Of gold; then those who
shall have foreign payments to make
will be Obliged 10 pay 5 or 10 per cent for |
English currency. This would amount |
to $25 ,OOO, ,OOO or perhaps $50, ono, 900 per
snnum. How much do our farmers pay
In falling prices TO maintain this gold |
standard and save those who make for |
eign payments from the necessity OF |
giving premium for English currency |
Comparing present prices with those Of
1873, not less than $500, ,000, 900 a year,
and this $3.50 ,0OO, 900 is virtually prem
ium for gold, to say nothing Of the dis
asirous effect upon other industries,
which have been very family described
in former chapters. The farmers, who
furnish more than S5 per cent Of our ex-
ports. and upon whose success the
growth OF our cities and the prosperity
OF ell our industries are largely de-
pendent, are the greatest sufferers from
the gold standard The importers can
recoup their losses for premium pay
ments by advancing the selling prices
Of the imported article. But no such
relief is within the reach OF our suffering
farmers. They sell their wheat at gold
prices in competition with the wheat Of
silver.using countries, which as com
pared to gold falls as silver falls. India
exported in 1873 less than 100000
bushels OF wheat; it now exports more
than 10000, 900 bushels. The worlds
production Of wheat diminished 8 per
cent from 1891 TO 1893 inclusive, but the
price of wheat fell during that period 40
per cent, and since then II has been at
any time during the last 100 years.
The New York Nation, an intense and
almost malignant gold paper, in its issue
Of July 5th says: I'VE hear much OF
the agricultural depression1n IN this coun-
try, but II is doubtful II the most exag-
gerated account can equal the bare facts
in regard to farming region almost
within walking distance Of the Bank OF
England.
A report on the agricultural crisis In
Essex has lately been made public, In