Rocky Ford enterprise., 1895-07-11

good. For thirty years. however. the
balances have all been on our side. We
sell more In Europe than we buy in
Europe. consequently we have been, on
the face of the trade balances, absorb
ing European gold. A change to the
double standard on the part of this
country would not change the scale
against us. II anything it would in
crease the importations Of gold. for
the reason that the double standard
would, as even the gold standard ad-
vocates admit, have a tendency to re-
strict importations. So with the bal
ance of trade, always in our favor, 1t
Is not likely that our gold would leave
u.s.
Probably what is meant by the ex-
preston as used by the money-lend-
ing class is that foreign loans would
at once be recalled in event Of free
coinage act. II hardly seems probable
that SO much good luck would fall to
the lot OF t!Iis country all at once
free silver coinage and the with
drawal of interest-bearing loans. l
have not got the exact figures at hand
but 1t Is safe to place the foreign cap
ital now drawing interest in this coun-
try at $5,O00.00o,0 900. Four years ago 1t
was more than that, but large amount
has been Withdrawn since that time.
The annual interest on this sum is
enormous, about 5000. 100000. How do
we pay It?
said above that on the face Of the
balance Of trade reports our country
always stands on the right side. But
why do We not grow richer as we con-
tinue to absorb European gold? The
truth Of the matter is that while the
balance Of trade is always in our favor,
the deficiency is not paid in gold. 1t Is
simply charged to the account Of inter-
est on foreign loans in the United
States. So we find that the interest
on foreign loans is the real mischief
maker on the scales of international
trade. We are giving away the prod
ucts OF American labor to settle the in
terest on European investments In our
own country. And this interest keeps
growing In volume until at no distant
day 1t will annually absorb the price
we should receive for our entire annual
exports. And yet there are those who
pretend to be afraid these loans will
be withdrawn. The same sort OF cry
was sent up more than hundred years
ago when the people of this country
began to discuss the question of throw
ing of the yoke of England. The or
tgtnators Of the cry said that this talk
Of freedom would cause the withdrawal
Of English money. Fer long time 1t
kept the timid in line. but finally 1t
was drowned by the patriot cry ITO
arms" and the war for independence
finally stilled 1t. The English money
did go and it was replaced with Amer
lean money. The question of the pres
ent bears almost direct relation to that
decided in the past. When the Euro
pean capital goes, II 1t does, we will
replace 1t with American money and
then enter upon an era of prosperity
once again.
Between the single gold standard and
the ideal monetary system there is a
wide and yawning chasm, perhaps as
wide as thousand years. Alas for
humanity, perhaps even ten thousand
years. The double standard is merely
a step In the right direction. 1t will
better serve to balance accounts be-
tween the money-lending class and the
producers than anything practicable
just now. 1t will injure the money
lender, because 1t creates an addi-
tional supply of his stock-in-trade, just
as the opening of the vast Indian
empire to the product on Of wheat
has a tendency to decrease the
price Of wheat grown in America.
Under bimetallism, money becoming
more plentiful, people would borrow
less and rates of interest would de-
cline. The money-lending class would
gradually be forced into the field of
production and usefulness. 1t is such
condition of affairs (being forced into
field Of usefulness) that the money
lender most strongly objects to. He
hates humanity, would trample upon
liberty and would consign the Bible to
the uttermost limits. He despises the
Word of God on general principles, but
especially because 1t says: He who
does not work neither shall he eat"
By the designation of "money-lend-
er" I do not refer to the ordinary
banker, who, as a general rule is all
right at heart. Its the fellow that
controls the banker to whom the title
belongs.
The campaign for bimetallism is
necessarily between the money-lenders
and the producers. which means every
body except the money-lenders. OF
course large portion of the producers
will vote with the money-lenders when
it comes to an issue. The campaign
of education in behalf OF the free and
unlimited coinage of silver without the
advice or consent Of any othe, nation
on earth, must continue to be vigorous.
Not a point must be yielded to the
enemy. One more word and that about
| international consent. Did the signers
of the Declaration of Independence
| submit the document to Europe before
afaxing their names to 1t? What
would they have thought of any one
who suggested such a thing? II the
other nations want free silver let them
legislate for themselves. We are in
terested first in the prosperity and hap
piness Of our own people.
p I'D.