The Caucasian. (Clinton, N.C.) 188?-1913, 1895-05-16
THE GREAT
MONEY PROBLEM.
Shrinkage in Values Honest
Money" Illustrated--The Dis
astrous Resul s Of Silver
Demoneiization.
SILVER WILL BUY TODAY

!, Much Of Fr"dus. %, t E,.r Maid. H.
| IL. EuiIion -hsr~ -D~-sIt. the fs.,uh.t
worth fIfy Crni-
Charl-s Heb.r Cla X. Secretary of
OF the Manutae urers' Club. aud 81
tor Of the Manufacturer. addressed!
the members of tha State Legislature.
~ Harrisburg. on the question of
Dim tall'sm. In cub ,;auce he spok.
| As follows:
The most startling phenomenon of
'ur times Is the persisj.n nj decline oI
the
PRICES OF COMMODITIES.
This fall has been In operation for
twenty years. and II has result, q j.
shrnsage of values and a eouse
quent determination of wealth which
cannot be con emplated by iudicious
MN without al irm. Eighteen mont IA.
ago wheat was ~Crth 13 cents a
bushel; IN October last il VAS worth
out d cents. Cotton wss worth -
90 nts pound; .telv II snld for six
cents. Silver was worth - cents
an ounce: recently II could he bought
for G2 cents. la 1873 the value of
one acre product Of wheat. cotton.
corn, oats and hay was Sl5.6j: ia
1873 it was worth IS. la decline of
nearly 4S par cent-and the
DECLINE WAS CONTINUED
through this year. Pennsylvania
produced Is 900 900 bushels Of wheat
IN 1871, and the. product sold for S2i =
iJ0,0oO. Eighteen million bushels
this year w"uid bring but rrifie
IN re than -, ,0t 0,Uu0-a loss OF SO
l5O, 900 in one State on one crop. If
American farm products had sold IN
1893 for the prices of 1873, they
would have brought II, 800 COO, u, q
| more.
Distinction must b- made between
fall of prices and fall of values. II
a loom is inve ted which will weave
three yards of cloth 10 the time and
with the labor heretofore required
TO weave one yard, tine price will 20
down but tho world will be richer.
If conditions be provided which com
pei farmer to give three bushels f
wheat IN payment for "A debt which
could have been paid with one
bushel when the debt was contracted.
the world Will be poorer. In the
former case less ,if,rt produces
more wealth. In the latter, more
effort
| PRODUCES LESS WEALTH.
Business can never thrive while
prices continuously decline.
Moreover, the fall of prices me ans the
enlargement of all fixed obligations.
The whole world is in debt. In our
own country, in 1880 the STATE,
national city and school debt amour.
ed IN round numbers 10 5000, ,O00, ;.
600, or $50 per head uf the popula.
ton. The mortgage cebt upon reai
estate reached the sum Of - OoO. .0uO, =,
900. Besid IS there are the railroad
debt and the personal and 9th
debts. These debts. in fact, AT.
owned by the people, for the peopl,
have TO pay for them. No man cal
say that he Is ont OF debt. Eacl
bond is an order. .fo- ommodities pro
duned 10y human toll. The debt
are paid finally III the
| ARTICLES WHICH MEN PRODUCE.
Thus rs prices fall, more and NOR
of such articles must be given &
meet the requirements of fixed obi.
gallons. Just how this has OF
Grated to increase the burdens q
l the people may be perceived upo
d examination of these figures, b,
e iieved 10 be authentic:
). THE NATIONAL DKBT.
d lSJ6-lt was. ..........s26J 100, 90 q
d Paid. principal, interest,
and premium iyJD.UJ0t
lS9i-Balance about. $1,000 -
lSsD-Could have been paid in Bales
cotton n..-.--.-.---~.. I,lsi,O
Pad principal interest,
:. etc, in cotton ......... 9i.tsO,y
iS9l-Balance due in DC. cot
- t.u. $1,000
+ l566-Could have been paid Bushels
& in wheat 90. 90. -
Paid. principal, inter
,t est, etc, in wheat... 5o22.OCo o
h lS94-Balduce due in wheat. 2Oj4 90 q
Thus, after paying in cotton nea
ly seven times the original amour
'g of the national debt. the America
people still owe, in cotton, near
3. four times the original debt; aud
a. cotton, wheat, and similar materia
"A this debt, and ell other debts are,
a matter of fact paid.
- 1t is Of Importance to asce
~ tain
WHAT ISTHE CAUSE.
-, Of this astonishing shrinkaga
- values. Tn re is but one key tot
~ riddle. 1t is found in the fact tn
re gold is constantly advancing.
be other completely satisfactory xpla
re alton of the problem can be supple
he 1t is common mistake that the VI
re- ue of gold never changes. and I
II. cause people hold fast to this err
they fail to comprehend this qu
tion. The fall of prices began
1873 when
SILVER WAS FORMALLY DEPRIVED
1T of the money function. Prices b
NC beenrisin through long periodpr
=. tolS13. AS soon a silver was dem,
iiS etized they started upon a downwa
W course which they have ever sir
followed. This must necessar
ley have ensued upon the rejection
yer silver. For thousands of years {
in two metals have been employed
in gether. In 1873 one was thro
ted aside and the whole stress OF the
20 mand for metallic money had bs
diminished one-half.. Forbid
- ase of beef, a I'd mutton will beco
" dearsr. ProhIbif WOODEN cloth
rd- and cotton will advance in pri
Wren silver was denied its pl
OF among money metals,
Csc GOLD BEGAN TO 60 UP.
eve This is an indisputable fact.