Bismarck weekly tribune. [volume] (Bismarck, Dakota [N.D.]) 1884-1943, 1895-06-14

question out for myself at the extra session
two years ago, and in connection with the
speech l made at that session rave a table
containing figures proving conclusively the
very thing that Mr.. Pillsbury now asserts
to be true, and the very thing that Senator
Sherman maintains is not true.
The fact is, that every man who owns a
bond, and every man who edits a news
paper whose bonds are out, or who de-
ponds for advertising for his sheet upon
men who are interested in the success of
the bond business, is in favor of the gold
standard; but none of these have yet had
the hardwood to claim that the worlds
gold is sufficiently large in volume to stand
as an adequate measure of value for all
other wealth.
In a recent intervie ", and in several
articles l have written for my paper, l took
the ground that the first advance in the
price Of wheat, a month or more ago, was
due to a previous advance in the price of
silver, and that the advance in the price OF
silver was the natural result of the in
creased demand for silver, growing out Of
the four bundled million Japanese indem-
nifty. The more recent advance i'll the
price OF wheat is the result of threatened
oAoA oShS - SIop u VI llulttUk
conditions.
This fact must appeal to the reason of
all thinking men, viz: That the demand
for silver enhances the value thereof, silver
being nOw, as it has been since its demone-
~tization in 1873, a commodity, and when
the price of silver advances it takes a
greater amount of gold to purchase it.
When the Liverpool merchant buys silver
with y1hioh fo ,,ryoboca rp J,oot H., T,,l;o %ho
sum of gold necessary to purchase that
silver measures the value of the wheat in
all countries having the gold standard,
wheat being an international staple, and
the price being fixed IN Liverpool. There
has been but slight fluctuation in the price
OF wheat in India in twenty-five years
Silver is the standard in that country.
India is our principal competitor in wheat.
Consequently, when the gold price of silver
Increases, the price of wheat in gold coun-
tries Increases. No student of political
economy disputes these facts, and 1 refer
to them as proof that when China agreed
to pay Japan four hundred millions of
silver, silver being a commodity, the gold
plice of that article advanced, and follow
ing that, the price OF wheat in gold coun-
tries advanced. The gold economists have
always denied this.
This question could be discussed without
limit. Suffice it to say that it is my earnest
and candid belief that the free coinage of
silver in the United States, by the sanction
OF seventy millions of people, in a country
whose resources are unlimited, where
everything can be produced that living
man desires, would not only be wise
policy, but at the same time would be the
patriotic thing to do. The western hemis:
phere produces more than two.thirds of the
silver OF the world. Silver mining is
great industry; it now "languishes in the
hills" Thousands of people who have
hitherto earned a livelihood in the mines
are without employment, and almost with
out hope. With wheat at 40 cents a bushel
as it has been the past two years, not as a
result of Over-prOducti0n, the farmers OF
the country would be almost as hopeless
as the silver miners. Meantime, these two
classes OF producers must pay about the
same rates of freight over our railroads
and the same rates of fare; they must pay
the same rates of taxes. and the same rates
OF interest, and the result of this is, and
has been. a widespread depression that
should not exist in any country in time o.
peace and plenty. Surely it is a condition
and not a theory, and the question Of
whether MI. Harvey has proven all that hi
asserted, or whether the free-trader and
textbook political economist, Professor
Laughlin, has proven all that he asserted
or whether France had a ratio of fiftee1
and a half to one a hundred years ago, o.
whether there would be IN enormous in
crease in the output Of silver if we had
free coinage, or whether we shall discover
in the near future enough gold upon which
to base the business of the world-al
these are merely incidental to the greater
question involving a permanent tinancia
system based upon justice. and belong tt
the theoretical side of the controversy
The amount of gold in the gold dollar i.
fixed by statute; the value of silver il
fixed by those engaged in the manipulation
of gold. The amount OF both silver an
gold bullion, and the value thereof in thu
dollar unit. were fixed prior to 1873 by law
since that date the gold dollar alone has
been accorded this privilege.
I believe, with the republican platform
adopted at Minneapolis, that the American
people. "both by tradition and interest
favor and demand the use of both gold ant
silver as standard money."a This was my
platform then. It is my platform now.
yield to no man in point OF party fealty
and I deny that there is a more sincere re.
publican in: this state than I am. What
ever policyssmy party shall adopt on thi!
question l shall follow. Meantime, l pro-
pose to exert myself to see That my party
makes no mistake, and l appeal to my fel
low republicans to exert themselves in be
half Of that kind Of "sound money! which
will restore the equilibrium in human
affairs and re. establish a just and equitable
system of finance for the American people
IL. c.. HANsBRoUGH.
Flag Raising at Glencoe.
Yesterday was a gala day at the Harris
school house in the town of Teller, thu
occasion being the raising of Old Glory
on the new staff erected for the purpose
by the boys of the school taught by Miss
Olive Falkenstine.
- NH