St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-08

Ao paper TouDie passes current, and
Is more easily handled than the coin,
therefore it is more desired. In that
case condition sinks the question of
intrinsic value entirely out of sight
OF course. this. could take place only
within certain limits, but it illustrates
the fact that conditions as we'll as
intrinsic values are to be considered in
regard to the circulation of money. The
golo standard countries must buy of
US; they must have our wheat, cotton,
peer, pork, petroleum, etc, etc. We
do not have to buy much of them
Even now Great Britain alone buys
over two hundred million dollars worth
OF commodities per year more of us
than we do Of her. Under conditions
That we can create by proper legiSla-
ton we can take away a large share
OF her stock of gold, and use it to cir
cuiate with our silver and thus main
tain the parity of our white metal
with gold. Coined silver will never de-
preeiate in value as long as it can have
gold for companion in the channels
or trade. The gold bugs OF Europe can
SIT back and laugh at our attempts to
establish free silver coinage on any
other plan. This plan would bring
them to their knees in short order.
Inc Danger of panic, with all it's
attendant multitude of evils, should be
guarded against in connection with the
adoption of free silver coinage, but the
above plan would render a panic i'm
possible. This country has built I'D
an enormous system of credit on a
comparatively small basis of actual
cash. The plan set forth above would
make the cash basis of the financial
structure broader, deeper and safer
Any plan that would pull out the gold
side Of the foundation would bring
down the whole structure in a mass of
ruins.
The above contains nothing relating
to party politics Many Democrats
would doubtless object to the proposed
raising of duties on imports from
single gold standard countries, thus af-
fording considerable amount of in
cldental protection. 1t should be borne
in mind, however, that this has no
bearing upon the tariff question in gen
eral, any more than has a purely rev.
enue tariff in its relation to such Incl
dental protection as it may afford.
This proposed increase Of duties. if
adopted, would be for a specific pur-
pose, in no manner depending upon any
policy relating to protection. The
country is confronted with an issue
which, though not new in its main
features, has come up with new power,
and is surrounded by new conditions.
Policies must advance to meet the re-
QuirementS of new conditions and of
the advancement of the world. We
want intelligent and honest discussion,
free from that outrageous presumption
upon the ignorance and credulity of the
people that ch2racterizeS much of the
discussion about this question. The
people are neither as ignorant nor credu-
lous as many writers and speakers be-
lieye. For instance, / have noticed in
some of the newspapers reference to
the low wages prevailing in Mexico
and India, and the statement that the
lack of prosperity among the common
people of those countries was due to the
silver standard. This is not honest
The condition Of the people in those
countries is better than it was before
silver began to depreciate in 1874 The
low standard of civilization there is
what retardS prosperity, although India
is just now suffering under the effects
of the single gold standard forced upon
her by the British government two
years ago. In our own country we are
suffering with industrial and business
depression because values generally of
property and labor have been falling
while the value of money has been in
creaSinS. The tendency is for men to
not exchange money that is increasing
il value for property, or the labor that
produces property, that is falling in
value. 1t is true that men will loan
money. because the lender retains all
of the increased value Of the money
itself, but ordinarily people cannot af-
ford to borrow money that is increas-
ing in value to invest on a falling mar
ket. The result is that the banks are
full of money, but investment in real
estate and manufactures is discour-
aged, and labor is impoverished. The
conditions should be reversed. We
ne5d a rising market, so that moneyed
men will want to exchange their money
for property and the labor that pro-
duces property, and the seller will in
turn want to invest the money thus re-
ceived in other property, and SO on,
filling the pockets of the people with
gold bugs on one side, the uncondition-
al silver fatists on the other, and
scheming politicians in the middle,
there is danger to the country. The
sound sense of the people must come to
the rescue. and it will come in this
emergency, and bring triumph to the
right cause Respectfully,
H. C. STIVERS,
Brainerd, Mimi, July /. 1895.