Mexico weekly ledger., 1895-06-13
On the Financial Question

Mr.. j. NJ. Marmaduke, who is in the
east on a visit, sends US for publica-
ton the following extracts from Vir-
ginia papers on the financial question:
SOME STRONG POINTS.
In a letter on the subject of the gold
standard Mr.. John c. Latham, of New
York, makes the following statement:
For the five years preceding Sep
TENDER last the Southern people re-
ceived from Europe for cotton alone
| 81 ,192, 1926, 461 in gold, the average
price being s.s2 cents per pound, and
not n dollar was unnecessarily lost
an account of exchanges between the
countries hat bought it from them.
or on account of the fluctuations in
value of the money received from it.
And during the last twenty years that
of the South's cotton which has been
shipped abroad has realized $685.
593,l34 IN gold, or an annual yield of
S211, 929 $50.
In the light of these facts it seems
absurd to suppose hat the United
States cannot hold their own in COM
peting with the commercial world for
their share of the worlds gold.
Another statement he makes, which
is deserving of careful thought, is the
following:
No stronger argument for sound.
honest money, strict integrity, and a
rlgld performance of contracts, could
be made than by calling attention to
the rapid and astonishing revival in
business, and the marked advance in
The ipahInO nr0Hnnto nf tho oo,~.
since the last successful bond negotia-
ton by the president, and his declara- !
ton at that time that the credit and
honor of our Government would be |
maintained at any cost.
Since the date of this negotiation
not a dollar of gold has been shipped
to Europe, millions have been sent
from h a side to this, and the gold
reserve of 500, 900, 600 is virtually re-
stored. Besides, Europeans have in |
vested largely in our securities, and
there is every evidence that the coun-
try is to have an area of great pros
perity for several years, if the silver
craze is squelched.
A GOOD DEAL OF WASTED TIME.
We confess to have read Haryey,s
"Coin's Financial School," Horace
Whites "Coin's Financial SCHOOL,,
i'll reply to it, and much other on both
sides of the financial question. Much
of this reading went, as do the con-
tents of the book, away back into
archaic depths about the origin of
money, when this dollar or that be-
came the unit, the amount of the
worlds production, and all that sort
of thing. In this we wasted much
valuable time and so will those of our
readers who undertake it. 1t does
not matter to-day n penny which
dollar was the unit, any more than it
who signed the Declaration of
independence first. The question we
to settle is not one of antiquity,
it is one of to-day. 1t is whether the
commercial world will join the United
States in establishing bimetallism. I'll
1t will, We'll have 1t in spite of all the
historic precedents of the ages. If
it will not, and we try it by ourselves,
we will walk right into a panic and
hard times to which the ruin of 1890
"a was prosperity itself, in spite of
OBSERVATION-DISCLOSURES" OF any school
hat ever was invented. And there
you have it! |,
II REPUBLICANS TROUBLED,
The Democrats who think that their
'arty is the one most troubled by the
rec silver question, should not make
heir minds up too quickly; the Re- 4,
publican organization at this date is
n a situation not dissimilar. Neither
we think, need distress itself;
y July, 1895, when the two national ,
onventions assemble, there will be a :
God deal less heard about free silver ;
han there is now. Greenbackism and .
,nownothingism as political ventures, :
lso kept the old party leaders in :
reat anxiety during their short lives. Il.