Middlebury register. (Middlebury, Vt.) 1886-1937, 1895-09-27
1AE SILVER QUESTION.
Continued from last week. j


This subject is also treated III an arV-
Gle entitled, "rhe rise in the value OF
gold. by Thomas IIOlyOake Box. 1oko-
hama. Both of these writers are Eng
lishmen and publish their articles in
England for English consumption' put
American trade and manufactures VIII
be effected in "A precisely similar way so
long as we continue IA gold standard
country.
This effect of the new money standard
of the world upon manufactures ana
commerce is so extraordinary and far
reaching that we allow more space to
its discussion. Should present condi-
tons be maintained, it promises to revo-
lutionize the trade of the world And
even already the seeds are sown that
will to a greater or less extent effect this
result. 1t will be seen that the advan-
tage is entirely in favor of Supervising
countries.
Mr.. Box SAYS
az The great loss and injury which
is being inflicted on the British produ-
GERS by the extraordinary rise iii The
value of gold as compared with that of
silver during the last twenty years, con
seouent on changes in the laws reguat-
Ing the use of gold and silver as money
in various countries.
There is nothing which has caused so
much injury to British producers OF today
comparable to the rise IN the value OF
gold compared to silver; but the injury
already inflicted. although very consid-
cradle. is insignificant to what it will be
~ fOnD1
alter the currency system of the world.
The mighty dOllar-the silver dollar |
mean-s becoming almighty by its
cheapness compared to gold, and unless
its evil influence on British industries Is
thoroughly understood by the working
classes, and its power promptly crippled,
it will soon bring about the greatest
commercial revolution the world has
ever known.
or The immense temptation and in
ducement which this rise in the value of
gold holds out to capitalists IN silver
using countries to develop their coal
mines and to erect machinery for the
purpose of supplying themselves and
other silVer-usng countries with the
. manufactured articles which Great
Britain has so long been in the habit of
supplying them with.
There /; an ever-growing demand for
coal in the East. and especially by the
British steamship companies trading
there. Although it exists within easy
reach of most of the ports it could not be
got at profit, and there was little in
ducemeut to get it while Il fixed ratio
existed between gold and silver which
kept up the gold value of the silver dol
lar The Japanese government tried the
experiment, and spent large sums of
money in opening mines; but they gave
uD the enterprise, ana sold the concerns
to private companies at great sacrifice
to avoid further loss. The gold value
of the silver dollar was then worth about
Is. Cardiff coal was used all over the
East with an occasional cargo from
Australia Its cost, with freight, was
about 4Os. per ton laid down at the
ports, or $40 per ton in silver. But, ten
years ago, the value of the dollar had
fallen to 3s. ID in gold, which raised the
price of coal to ST. per ton in silver,
although still costing only los. per ton
in gold The japanese coal, however,
could he got for less than SO, and few
cargo steamers commenced TO use 1t.
1t was mostly surface coal, and of in
feriOr quality. but as most of the freight
between the Eastern ports is earned in
silver, this rise of 81 per ton in the silver
price of Cardiff coal, with 10 correspond
mo rise in the rate of freiuhts TO meet II.
was serious matter with the steamship
comnauies and they begau to consider
the necrssitv of using cheaper coal. The
increased demand for Japanese coal made
its nrodurtiou remunerative and canltal-
ISIS were ready 10 invesr their capltal in
ORDER to develop an industry which Of
fered such inducements. As the rise in
the value Of gold continued so did the
price of Cardiff coal increase. while. by
thn aid of marhinnrv and nm improved
system of mining. the .Japauese coal rot
cheaprr. some Of the finest plant in the
world has b4pn laid down in JaDan. fine
lover seams worried and pond nunlity
English Pailwavs have heen built IA
convey il ~ rouvenient morris. and mines
onnned all over rho rounfrv The result
IS that While thn siIver-nTjre of Cardin
coal has imrreasnd IN SIX and SIG nrI