The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-06-05
PRACTICAL DEMONSTRATIONS.

From the Minneapolis Penny Press
One of the claims which the author of
Coins publications makes concerning
the RECOMMENDATION of silver and the free
coinage thereof" is that it will quicken
the industries of this country, stimulate
business and at once put the nation on
the high road to prosperity.
OF course theories" are easy enough
to concoct but practical demonstration
Of the truth of any proposition is more
difficult of production.
Mr.. Harvey has always claimed that
England has played double" with this
country, ever since she undertook to ac-
complish the decentralization OF silver in
America, soon after the close of the civil
war. One of the purposes to be accom-
plished was to prevent the United States
from becoming "a creditor nation,
thereby endangering the supremacy OF
to upbuild some other portion of the
world dependent upon Great Britain to
take the place of the United States as a
producing nation.
Mr.. Harvey claims. and he is Endorsed
In this claim by Archbishop Walsh, of
Ireland, who certainly cannot be charged
with being in league with the silver men
Of the United States, that India contains
all the essential proofs of this PROPOSE
ton.
When silver was demonetized in the
United States, followed promptly by
France, Germany and the Latin nations
India was almost unknown among the
commercial nations of the world. Today
statistics show that she is to be rated
we'll up to second class nation by rea-
son of her products and expectations
Two items will be sufficient to indicate
the proof of this proposition.
In 1873 India exported 10000 pounds
of yarn; but in 1893 she exported 170,-
900, 900, thereby multiplying her product
as indicated in 1873, an hundred and sew
enty times. In that same year the ex.
portation of grains from India to Europe
were bagatelle but in 1893 the exporta.
lions of grains from India exceeded 81 :.
600, 900 bushels.
In fact so rapid has been the increase Of
industries and the product thereof the ex'
portations of the products of these indus.
tries and the soil; that even England her.
self has become alarmed at the position
which India has taken.
And yet throughout this period Of 2:
years India has been upon a silver basis
from start to finish-the English gov.
eminent having demonetized, or sus.
pended the free coinage of silver dur
ing the present year for the first time
We have another illustration right al
our doors. 1t is worth reading. 1t was
first published in the Denver Times ane
is herewith reproduced:
THE staid old investors living in Bos
ton, and elsewhere, who had taken risk!
in the stock Of the Mexican Central rail
way must have been grfevously shocked
in their theoretical anatomy when the!
received their copy of the annual repor
of the directors upon the business O.
that corporation for 1894.
Possibly some of these directorl
blushed at the admission they were com
PEELED to make; but the necessity existed
and they were forced to tell why theil
road had earned money, yes, for tw,
years in succession, and that, too, in
country where the debased, outlawed
wretchedly impoverished 50-cent dollar
is the standard coin of the realm.
But they faced the music, took thei
medicine promptly, and headed thei
document with the facts.
"And this is what their stOckho1der
were compelled to read:
1.-The continued depreciation in silve
and the consequent rise in the rate o
exchange had the same effect as in 189
of curtailing importations, and thereb,
stimulating the manufacturing and othe
industrial enterprises in the republic
and 80 increasing the local transporta
tiOn.'
What sermon for political econom
lists. of the Gray Gables brand, is con
| tanned in that brief paragraph!
What commentary upon the astut
wisdom of those who scream that tn,
| free coinage Of silver means destructio,
to prosperity!
What an object lesson to those indie
| pendent minds which are earnestly seek
| ing way out Of the financial slough o
despond into which the greed Of a sci
fish few have plunged the nation!'
STRANGE.
| II have often wondered" said al
Eighth street jeweler, "at the fascina