Pine Bluff daily graphic., 1895-06-02


 new standard orth only half as m,s the money he borrowed or the Dropsss purchased, be would appreciate and ,n5s this argument and 1t would be useIess E euss the question with bim. But if eafs ready endeayored to show, the immsS effect of the adoption of free coI5 policy at the ratio of 1e to 1 would M contract the currency 10 the extent of .ss $625, ,o00, 000 by the withdrawal os l amount of gold from circulation ana use as the basis of notes and other ia,s credit, pricea would not even noAniues vance.
 WOULD REDUCE PRICES.
 ''On the contrary, for the time bslsl least. this contraction would greatly E prices. because 1t would alarm the con, destroy credit and undoubtedly pre the most serious financial distutbane country has ever witnessed. Every ds~ itos in the savings and other .S tearing that be would ultimately be us. depreciatad silver, would immedI-. dem and tho return of his money, and would compel the banks to call at op. the payment of all the notes and ether rites they had discounted fOg thsir a { mars, and the contraction of the eua would cause an increased demand fore9 cy at tho very time whom ih could not b. 1 tained. and thus the difficulty of the ton would be increased by both eauses banks ould be compelled to either sus 1 pay ments themselves or drive thsiF mers who are generally business men men who give employment fo laborinszs community bankruptcy at once
 "@ho would profit by this eondIi nffaira2 Nobody except the holders of aud the owners of silver mines, the h Of silYer bullion and tho brokers and ap tors in the stock of silver mining eompe THE DEBTORS WOULD SUFFER-
 ''The peplo who owe debts and arc to pay them would be the ones to)s m oHt. while the people who owe nc. and have money on hand would be tt3 1 to profit most, Every man in dobt wQ called upon to pay 1t promptly whs 1 there would be no more extensions debts, nor any new credfta glven, 8 | no man could foretell what the monei* l be worth at any time in the future. <
 'In tlis crash the laboref wa thrown out of employment by fine fal
 
 would receive iess real money for h duet, the property would be sold d rates under judicial proceedings all oS country. credit would be des trayed l- industrial and eom mefeial eBtefprises stand still. awaiting the result of hF i experiment with tho monetary eysten couEKe.a great country Ike this. rich In as0 resources, would ultimately recover h measure rom even such a disaster but- | long time would be required to do man can predict.
 "Aii the hints of tho Upsted States, # voted entirely to the coinage oi sllYaM lars, could produce only about forty dollars per annum, and. therefore, wiK 1 coinage It would require more thanW 1 years 10 put silver dollars in the pls# l the gold we now hAve and give hs# the country the same amount of nt money nov existing. But, In the msas we would have Appreciated standf value with nomipaiIy higher prices the frat collapse was oYer-on ace0u tho reduced purchaaing power Of the and at the same time wn onld hava is. long time fewer doilars to pay with.
 EFFECT ON DOMESTIC TRADE.
 "But suppose the change is made, ,snt
 
 finally adiusted to the new standard will be the effect on our domestic {, The prices of ali things will be nominf ' creased - that Is to say 1t will require asix CT number of dollars to purchase a,lj amount oi any commodity than It fssst before.
 'TheTe appears to be sing ular d} i, In the mimds of some upon tht iect Many good people appear tdeif that Tn some mystefious ID amer, yssfJ. oue has yet attempted 70 explain, tho G.rt ment, by iegislating or other V ise, CaniH1 the prices Of things they have to sell increasing the prices o' the things they | to buy. If there Is any financial necrOs5fa by which this oDe-si6eS increase oiA. can be ccomplished, our free coinagef..3 ought to explain it to the people.
 'rhe plain. everyday, common ssns of this subject ia the only correct one. are increased solely on account 0Ifl1 crease in tho volume of ciTeula ton. oSss count of a dspreeia ton of tho eurrcneina out any change in the relation betw7. .a supply and dem and of the comm oditi < exchanged, the increase in pTieeA wiz. < sarily affect all things alike. "
 HOW 'TwoULD AFFECT THE TARfls.il's
 A. tueSt1OTb thF thSntF UT plhhzs ... eeives greater number of dollars crop oi cotton or wheat, ha will h pelled to pay eorrespondlHgly 2 numb of dollars for hia agricultural liF meats, for his groceries, for his casef and, in short, for everything he pufser Consequently, his poTfit, If he has als4ra 1 hear about the same relation to l..<~ penditurea that 1t bears now--that say, if be now makes profit of 10 pe he will mako profit of no more ih per cent then. Now, 1t is out Of tho profits of hia business that ho wuas his dshts, and 1t therefore rom aims to es how much benefit he would nitimal1 rive from nominal increase in the eomm oddities. He cannot control tns saN of ths commodities produced by hlm ssf aam0 extent that other producers eal1] | trol the prlcss of tbeirs. and it may ! the prices of the things he is eoTps 1 buy will be increased in much Greal i portion thBn tue prices Of the thiass 1H to sell and if so, hs will be loser Iai 1 of aainef by tho change. xt
 ''It is contended, however, that 17s l comm odities havo fallen since lois ". 1 that this reduction oi prices has 1 m orc difficult to pay debts nov 4S was then. It is true that the pIics' M things have fallen, but it is eqaags*xf that rho prices of some things naTtDi creased 1t is not true, however, saEIn people owe any debts contracted as as 1873. IL may be that soms great corporations which issusd ooa
 fore that date still owe them, but 'a all been refunded Ut low rate oi so that our free coinage frienda Beeu disturbed on their account. BASIC FREE COINAGE Eiaiso'z3;;,1s. ;,s.