The Louisiana populist. [volume] (Natchitoches, Natchitoches Parish, La.) 1894-1898, 1895-02-22
The Gold Standard Helps Only
the East and Europe.

The Constitution has been con-
that so far as the interest
of the great mass of the people of
this country are concerned, the
single silver standard would be
more beneficial than the single
gold standard. We have not ad-
vocated, nor do we now advocate,
the single silver standard, but we
have maintained, and we think We
have very clearly shown that if
the reconciliation of silver result
ed in premium on gold the ma
terial and productive interest OF
this country would be in a vastly |
better condition than they now are
or than they are ever likely to be
under the single gold standard.
1t is both surprising and graft
flying to find that The London
Statist, the foremost financial Jour-
nal of the worlds financial center,
agrees with The Constitution in
this matter. 1t is surprising, be-
cause The Statist is a warm and an
eager organ of gold monometalism.
The editor nevertheless, sees two
sides to the question, and, in dis
cussing the recommendations OF
Mr.. Cleveland for a FIVE hundred
| million bond issue, he refers to a
possibility of a premium on gold.
Although the declarations of the
Statist were cabled TO the New
York newspapers through the me-
dunn of the Associated Press, all
that portion relating to the results
of a premium on gold was care
fully suppressed in the columns Of
those great dailies which belong,
body and soul, to the money sharks.
1--WE print below what the Statist
says on this important matter, and
commend it to the careful atten-
ton of our readers:
| If gold is demonetized it is per-
fectlv clear that there will be q
greater transfer of property from
the capitalist and lending classes to
the producing and borrowing class
les. This would be of immense al.
vantage to the west and south, ano
would prove a serious loss to thu
eastern states and to Europe.
OF course a great country like
the United States adopting a silver
standard would have great influ
ence on the whole of the world
and silver would undoubtedly rise
but it would be long before i
reached 60 pence. The great re
duction of debts all over the Unit
ed States by q fall to silver woul'
give the farming and producing
J. classes generally sense OF free
dom and prosperity which the.
have not had for many years, ant
would probably give q great stlm
!. ulus to production. If silver dI.
C not rise much for a while, Ameri
. can wheat, cotton, pork, ETC., voul'
compete with the produce of othe
n countries at a very great advant
age, and there would be prObabl..
a very rapid and great growth o
Y exports and at the beginning q
!. era of great prosperity.
On the other hand, the lendini
and creditor classes would suffer
Q but their losses would not affec
!. production to anything like tn
same extent as the gains OF tn
! debtors and producers would dc
n Further there would be very se
rious fall in securities, which woul
9 iniure capitalists and lenders bot
d in the United States and in Europe
!. If Congress refuses Legislation
~ then gold would 60 to q premium
l. but probably not high. The ter
dency would still be to benet
debtors. and producers, and woai
j. inlure capitalists and lenders, Will
u production and exports would b
n stimulated, though not to a gres
# extent.
It Thirdly, if the mints were opeI
:. ed for free coinage, which woul
, tend to make the gold premiul
"a higher still, the premium woul
is not be very high, and the redu'
IF ton of the debt and losses of cap
is talists would be small compare
!. with the demonetization of gold.
T. What the Statist means here b