The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1895-03-21

reply to my questions, says: "While it
IS true that the Mexican coin when con-
verified into foreign exchange has no 9TH
or value than that Of the silver bullion
contained in it, it is also fact that the
difference has greatly encouraged and
increased the export of other products,
and has also greatly favored manufac-
turing, in order to avoid the buying of
exchange to pay for imports from coun-
tries having a gold standard The pur-
chasing power of the Mexican silver
dollar has not been changed in Mexico
SO there is more stability in prices and
wages, which is also a great advantage
Our economic conditions are now better
than those prevailing in gold countries.
We have fewer failures, and the increase
of traffic has prevented our railroads 60
ing into the hands of receivess. Will
some one kindly mention gold basis
nation where the general condition is
improving, exports increasing and no
railroads going into the hands of re-
ceiYers?
Gold Appreciation.
Is it possible to dissociate silver from
st1 oAtsAAoASiIAlJ SOuuOOU1Ou N1Ull SOlN,
to diyest the mind of misleading i'm
pressions due to the long habit of quot
ing silver in terms of gold, and get
fair view Of the metal on it's merits? On
this point I first present bit of history
In 1871 sllvrr was as now commcd-
ity, and gold was the same, for both
were demonetized by the greenback
Near the close of that year ten ounce
silver bar Ono fiat, no buying it up by
government credit) sold in New York
city for $13. 10 in gold. Gold was at a
lower premium than some years after,
SO the bar of silver was worth almost
exactly S15 il greenbacl1s This would
then buy in New York city 8 u bushels
of wheat, 26 of oats, Is of rye or Is Of
corn, and likewise so pounds Of cotton
Or 30 Of wool or 361 of bar irsa4e 9oday
that ten ounce bar Of silver would sell,
[ believe, for Sc. 80, which WonlA buy
in New York city II bushels nj wheat,
or 112 pounds of cotton, nearly twice as
much bar iron as in 1871, somewhat
less of rye, oats and pork, and some
what moro of other things. On &}ao gen
eral average of 100 commodities the
purchasing power Of uncoined silver has
declined, as near as I can estimate It,
10 per cent. Now, it is clear to my mind
that that 10per cent is exactly equal to
the cheapening caused by increased in
vention in mining and reduction and by
the general demonetization. It would
take columns of figures to prove it. but
1 also believe it to be true Aaat the
smaller cost OF producing commodities,
due to inventions since 1871, would
with stable money have been balanced,
or nearly SO, by increased consumption,
and that as measured by an ideally per-
feet or absolutely invariable s5andard
commodities have really cheapsned but
the merest tride since 1871. All the rest
which appears in the nominal quota
tions is due to the 40 per cent increase
in the purchasing power of gold.
Blinded by Self Interest.
The cold hard truth is that on this
particular point the goldbugs are affliot-
cd with a delusion like that which
possesses child or a green landsman
voyaging down a very crooked river
Now the sun is on his right and now
on his left, at one time in tho north and
again in the southeast, while woods and
hills move round him in a regular dew
IFS dance, but to his eye the boat goes
straight on. The lands1man knows bet
ter, and the child can be taught better,
and both will admit the truth because
they gain nothing by self deception, but
the goldbug's interest blinds him, and
though convinced by unanswerable fig
ures he would still deny the truth.
Our creditors havo assumed, as if it
were a primary truth, that while all
other articles on earth are perpetually
changing in value gold alone is gifted
with the great attribute Of God-immu-
liability. They have asserted this so loud
and long that they have come bo believe
it themselves, and this radical error has
debauehed all their political thinking.
In vain do we point out to thets that
bar of uncoined silver will exchange for
nearly as much as 30 years ago, while
uncoined gold will exchange for 10 per
cent more. In vain do we prove the
steady decline of all commodities in
equal measure with silver, and that re-
production.
Silver the Most Constant Value.
I would not rashly rush in where
angels fear to tread and contradict sci
entifc men who have made an exhaust
i've study Of the subject, but certainly
all the evidence in my possession goes
to prove that silver is the most constant
in value Of all the precious mesals, and
that gold is extremely variable I pre-
sent few reasons. Nearly all the silver
Is produced from deep lodes-great fs-
sures extending to unknown depths in
the earth, caused by primal commissions
and filled probably by mineral rising in
4 sublimated state. A true fissure vein
once we'll opened is permanent prop
erty, and the supply therefrom is, as
:ule, tolerably regular. Such mining is
in every sense legitimate business,
and even if there is an immense yield
G~H-