The herald., 1895-05-10
SILVER PARTYS PROPHETS |
Continued from First Page


gold was convertible into 100 cents in sill
yer in the money of his own land. He
received a dollar of debt-paying power
and purchasing power, with his bushel
of wheat, and the American farmer, at
tempting to compete with his wheat, has
debt-paying power of just one-half.
If English ships were in the harbors
and troops we're on the shores to over
throw the government, would we stop for
the party, whether it were Democratic or
Republican or Populist, before defending
it? The same parallel applies to the sill
yer question. hence is it to be run inside
party lines?
The president says we are liable to
slip to silver basis; that we are going
to have silver monometaIlism and the so
cent dollar if he does not protect the
credit OF the United States by the sale OF
gold bonds. Therefore he sells So, 50O,-
900 worth of bonds at 49, 600. 600 less than
the market price on the day they were
sold in order to save this country from
silver basis. Let us see for the moment
what would occur if we did slip to the
silver basis and have to take the 5O-cent
silver dollar. Who would be wronged if
we would go to the silver basis? 1t is
quite problem. Nine millions of dol
lars is a great sum of money. The re-
peated sales of bonds by the fifty and
hundred million dollars that have taken
place in the last two years must have
some justification. therefore 1 COM
menced, if possible. to try and solve what
would happen If this nation should slip
to that basis.
l found, first, that in our transactions
with the gold-using nations of the
world-because. he says. we must have
the money of the great commercial
cans and the heathens that use silver.
The United States in her transactions
with the gold-using nations Of Europe,
embracing altogether about 250, 900, 900 of
people. had a balance of trade in her
favor last year amounting to $25s, 000,0 700,
by Its terms payable in gold. We are the
creditor nation in our transactions with
them, therefore we can say what money
we will take. They had to have our beef
and corn and products OF the mother
earth. To make up that deficit and to
sustain the life of their citizenship they
must come to America for the bala Ice !;
so, taking the products of mother earth
they did not want the products of our
furnaces, forees. looms and spindles-be-
cause they can do that cheaper than we
can, therefore they took the products of
mother earth, and after we took four
hundred millions of their manufactured
products, we still had balance of trade
amounting to two hundred and forty
eight millions. What difference is it to
us whether England or Germany or
France. or the continent like oIIr money
or dislike it? they have got to have this
wheat. They cannot take less and main
tain life. They have to come to us for
their TODD.
If we slip to the silver basis, however,
and Mr.. Cleveland contention is true,
that the minute we do we are going to
have only the 50cent dollar; the moment
we open our mints to free coinage, he
holds that silver is going to stay right
where it is; let us see it at the worst.
ii an importer of the United States
wishes to buy from Germany, France or
the continent or Great Britain. he must
go to the banks and buy gold exchange
which will cost him 100 cents premium.
We have got protective tariff of 14O per
cent. What would be the effect? To
cut the importations of manufactured
products in two. and instead of import
ing about 100000. 900 OF manufactured
products, we would probably cut it down
to 5000, 0)0.O0o and set to work the fur
naces, the forge, the loom, the spindle.
the machine shop and the factories.
American artisans, instead Of German.
French or English. would fabricate for
our use the products necessary. and that
$25S. 600, 900 which we had last year would
be swelled to double the amount. per-
haps, which would be $45s, 0o0, 900, in
stead Of S25s. 900. 900.
After dealing with those countries last
year, we turned around. and in our trans
actions with the 1. 25O, O0O 600 of the people
of the globe we lost $2l2, 0OO 600 of it in
our trade with them. We bought their
rubber, coffee. spices. tea. rawhides and
other pr ductions that are produced by
these people, on the silver basis. They
did not want the products of our soil. of
our looms or spindles. furnaces. factories
and forges. We have got q tariff. That
makes our cost higher. Therefore the i'm
portations of Mexico and the silver-using
nations are from Germany, France and
Great Britain. she supplying the 1, ,250.-
100000 OF the free silver people of the
globe with her own products We cannot
ship them our raw products or our man
ufactures. but we will say to those people.
Here we are on the silver basis now. the
same money you are on; you take our
goods and we will take your money. What
is the effect? Why. they say we will be
avalanched deluged with this flood of
fallen silver pouring in on us. We will
not get cent until we have wiped out
this unfavorable balance of trade amount
ing to $212, 900, ,OO0 but until the Amerl-
can shops and the workingman have pro-
duced $2l2. OO0, 900. we will never get a
dollar. We W i'll merely be able to keep at
home that which we send to them in
payment of an adverse balance of trade.
If they want to import from either us or
Great Britain they must 20 to their bank
er and pay 100 cents premium in order to
purchase gold exchange. We will say,
Here is the advantage. Come to the
United States and we will take your
money!
Within two years we will have the tide
turned to the United States in such di-