The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1895-05-09
He Writes President Cleve-
land a Letter.
ON THE SUBJECT OF FINANCE
The Usual Arguments Advanced by sil-
yer Advocates Again Pushed to
the Front In This A1issive.

WASHINGTON, Senator Stewart of Ne
vada today sent letter to the president,
of which the following is an extract:
"Your letter to Governor Stone of Mis-
sippi is admirable. It wholly exoner-
ates you from all suspicion of shirking
from your plain, constitutional duty of
personal participation in the political
controversies which agitate the people.
''The originality of your discovery
that the South favors silver monometal-
ism when it only contends for the coin
age of silver upon terms and conditions
applicable to the coinage of gold can
never be questioned. You will undoubt-
edly explain In your next letter why the
free coinage of gold and a refusal to coin
silver is bimetalism, and the unrestrict-
ed coinage of both gold and silver is sill
yer monometalism.
"Your wonder why the South does
not appreciate the advantages of selling
its exports for gold prices is in harmony
with the profound thought and great
wisdom of your Chicago letter, wherein,
referring to the farmer, you said: Let
us remind him that he must buy as well
as sell; that his dreams of plenty are
shadowed by the certainty that if the
price of the things he has to sell is NOM
inally enhanced, the cost of Things he
must puy will not remAin stationary
''From your unselfish point of view
there is no answer to this argument.
The discovery you have made that the
sales and purchases of the farmers and
planters in a cheap gold market exactly
balance each other, and that what is
lost by the low price of sales is gained
by the low price of purchases. solves the
question and shows your full compre-
hension of all the principles of economic
science. The fact that less than 300,0 ,0G0
pounds of cotton or 80 900 bushels of
wheat would pay the $4,000 annual
salary President Grant received, while
it now requires 900 900 pounds of cot
ton, or SO, 900 bushels of wheat to pay
your salary, which is the same number
of dollars as that of your predecessor,
shove the superiority of the sound
money you have established and main
tanned.
''Your wonder at the imbecility of
the farmers and planters in failing to
appreciate the benefits of cheap mar
ket, for what they sell is most reasona-
BILE and natural from your unselfish,
comprehensive view of the subject.
You take into consideration that cheap
market where they sell creates a cheap
market for what they buy, and you real
ize, if they do not, the advantages they
have in selling more than they buy, and
thereby relieving themselves of more
cheap products than they are compelled
to buy.
.'They are at liberty to sell enough
more then they buy to obtain money to
pay interest and taxes, which to them
may seem hardship, but which, on ac-
count OF your superior wisdom and pa
triotism, you know to be a blessing
which their dull comprehension fails to
appreciate.
''The luxury of buying in cheap gold
smarket with money remaining after dis
Charging these nominal obligations is
not sufficiently priced by the discontent-
ed planters and farmers. The slight
discrepancy between the amount lost in
sales by low prices and gains by pur-
chsses in a cheap market ought never to
be considered and is properly excluded
from the wise and benevolent councils oi
Wall and Lombard streets, and also