The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1895-02-11
silver and Prosperity.


that SO far as the interests of the great
mass Of the people of this country are
concerned. the single silver standard
would be more beneficial than the sin.
gle gold standard. We have not advO-
Gated. nor DO we now advocate, he SIN
gle silver standard. but we have main
tanned. and we think we have very
clearly shown that il the remcuet!Zdticn
OF silver resulted i'm a premium On gold
the material and productive interests OF
this country would be ia a vastly bet
ter condition than they Row are ur than
they are ever likely 10 be under the sin
gle gold standard.
Ii is both surprising and gratifying 20
find that The London Statist, 5he foie-
most financial Journal of ;he worlds
financial center. agrees with The Consti-
tuition in this matter II is surprising,
because The SratiSt is warm aud an
eager organ Of gold mOnomctll!isin.
The editor. nevertheless. sees Iwo sides
10 the question. and, IN discussing the
recommendation Of Mr. Cleveland for
a five hundred million bond issue. lie
refers 10 possibility of a premium ON
gold
Although the declarations If The
SiaHSt were cabled to the New York
newspapers through the medium III the
Associated Press. ali that portion relat-
IlS 10 the results of premium on gold
WAS carefully suppressed in the columns
81 those great dailies which belong,
body and soul. 10 the money sharks.
We PRINT below what The Statist says
on this Important matter. and commend
il 10 the careful attention Of our read
prS.
II gold IS dem0netized IL IS perfectly clear
that there viii BE "A greater transfer Or
property from the capitalist and lending
classes r. the Producing and Borrowing
classes. This would be Of immense advan-
tage 20 the west and souta and would prove
q serious loss to the eastern states and TO
Europe.
OF course. a great country like the United
States adopting a silver standard would
have great influence on tho whole OF the
world. and silver would undoubtedly rise,
has it would be long before il reached Go
pence. The great -eduction of DEBTS all
over tie United states by fan 20 silver
would give the farming and producing
classes ZeucraNF q sense Of freedom aud
prosperity which they have not had for
many years ana would probably give n
great stimulus 20 production. If silver dill
not rise much Ter q while American wheat.
cotton. pork. ETC., would cGn.pet5 with ths
produce 81 other countries a- "a very
sreat advantage. a8d there would be proba-
tiy very rapid and great growth of eX-
ports ana al tne beginning ala era Of great
prosperity.
On tae other hand. the lending and credi-
tor classes would suffer. DGt their losses
g .af nfra f.s III -
the same extent as the gains OF the debtors
and producers would 10. Fgrther there
would be q very serious fan ia securities,
when would injure capitalists ana lenders
lo-h "a tha United states and ia Europe.
Ut congress refuses legislation thcn gold
would 80 60 a premium, but probably not
high. The tendency would Sl.lI be 10 bene-
III debtors and producers, and would iuJure
capitalists am lenders, while production
and exports would be stimulated. though
Hot 60 great extent.
Thirdly. IL the minis Wer. opened for free
coinage which would tend 10 make The
sofa premium higher sgiA. tne premium
would no. be very nisn and the reduction of
tne ueBt ami the losses oi capitalists WoUi1
be smJll compared vita taS dsuOne tizduon
u gold.
i, mas Tie Stat.st means here by the
"denonetizatiOn" Of sold Is not its de-
mouetizat,On by Statute, bat its tenn
porary decentralization by reason OF u
premium. Tue remark that a premium
On -old viii cause IA transfer OF prop
cry fIou tine capitalist and lending
/ classes 10 the producing and borrowing
classes Is simply the phrascOlogy OF
I the goldhus. 1t is Only another way of
saving tuat the process by which prop
elty i, now being transferred from the
+ producers and borrowers TO the CAPT
taiisfS and lending CLASSES would come
! 10 an end Il is only another way Of
saying THAT the single geld standard
. does uniGstiy transfer property from the
producers 90 the money sharks. and that
Fl the silver standard We're adopted
This transfer world not only cease. but
+ tire producers and borrowers would be
able. by means Of higher prices and the
. higher debt-pIyins power Of products,
10 recover good part Of the substance
al when they have been unjustly rob
bed by the operations OF the single gold
standard
The statement of so high an authority
as The London Stalist tEat the silver
standard would De- of immense ad-
vantage 10 tho people Of lie west ana
south. and would prove a serious loss 10
the eastern states and 10 Europe" is
ouly a roundabout way Of saying that
the operations of the single gold stand
ard involves an immense loss to the
people of the south and west. and n
corresponding gain 10 the eastern states
and So Europe.
Under these circumstances il is not
only amazing lat absolutely dishcart-
cning e. amd newspapers in the south
not only willing but eager 10 sacrifice
the interests of the people who nouri>h
aud support them - The interests Of
the east and of Europe. We presume
that never before i'm the history Of the
world has such spectacle been offered
/ for thoughtful men To gaze upon and
weep over The newspapers OF the
east are practically solid in supporting
monetary system which robs the pro-