Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1896-10-09

farm under our present monetary laws,
may under the free coinage system
purchase with his gold enough silver
bullion to make $1,000; with one.half
OF this he can pay off his mortgage
debt and have 1000 silver dollars left,
thus swindling his creditor out of
half the amount originally loaned.
Judge Cleveland says the bullionaire
would be fool to sell enough silver
tomake 1900 silver dollars for $1,000 in
gold and yet this is precisely what they
are doing in Mexico and other free
coinage countries. Under the free
and unlimited coinage system at a
ratio of 16 to this government must
guarantee the value of every ounce of
silver now in existence or hereafter to
be produced or the silver dollars coined
under that system must go at dis
count.
Judge Cleveland then discussed the
matter of premiums and discounts. at
tempting to prove that if gold should
go toa premium it would operate in
favor OF the producer and exporter of
our produce as they would get the
benefit of the premium; tho produce
would be paid for in the Liverpool
market i'll gold; the Liverpool buyer in
total ignorance of the fact that gold
was worth more than silver in this
country, would foolishly pay for the
goods in gold and the American farmer
and the American exporter would be
ahead just the amount of the premium.
In other words if gold commands a
premium of ten per cent and an Ameri-
can farmer sells 10000 bushels of wheat
in the Liverpool market at u dollar a
bushel he makes just 81, 600 by the pre-
MUM Oh gold; if the premium was so
per cent he would make s5,OO0-the
larger the premium the larger the
profit, so argued the eJudge. Evidently
the Judge thinks the foreign merchant
and importer knows nothing about the
commercial world aud monetary con-
ditions in general.
Tie endeavored to refute the state.
ment of Judge Gardner that the volume
of sound money has nothing to do with
prices. Judge Gardner said that
prices in France where the per capita
circulation is ss'5.11, are practically the
same as prices in Switzerland where
the per capita is s9.97. Judge Cleve-
land said that money of other countries
circulated in the countries referred to
and that Judge Gan dner did not prove
that it did not. OF course it is likely
that sound money circulates i,ter-
changebly to someextent between these
countries, but the average circulation
remains about as given above. Judge
Gardner's proposition is absolutly ire
futable.
The speaker quoted from Lincoln,
Garfield and other republican states
men to prove some of his assertions
while it has been proven beyond ques-
tion that these eminent statesmen we're
strenuonsly opposed to IL deprecated
currency. He talked about silver hav-
ing been demonetizedall overthe world
resulting. as he said, in falling prices
when it has been clearly shown time
after time that falling prices commen-
ced long before the SO called ..demone
tization." He advanced other absurd
theories that have long since been ex.
ploded, and seemed to be laboring un-
der the impression that his audience
had not been informing themselves on
the questions at issue during the past
two or three months.
Judge Dudley attempted to answer
the able and logical address of Major
Anderson but abandoned the project
before he had fairly started and pro-
ceeded to have fun with the Major.
He riduculed the republican party and
it's glorious record and furnished
amusement for the audience for an
houro more. Asa comedian the Judge
is glittering success and kept his
audience in Il roar of laughter. His
facial contortions would stop aclock and
his ludicrous illustrations and humor-
GUS anecdotes furnish no end of amuse-
ment. The Judge. like Mr.. Bryan, is
better adapted for the stage than for
statecraft. He said, among other
things, that just at the close of the war
he was a republican himself. but on
investigation he found that the demo-
Gratis were iii the hopeless minority aud
SO he joined them. This is the only
p!ansable excuse the Judge offered for
his present position with the popocrats
AS the Judge didn't pretend to talk on
the issues of the campaign for the in
struction of his audience, and as every
thing he said was in facetious vein it
would hardly be just to criticise him
seriously. He is without doubt one
of the most amusing and entertaining
attractions in the whole popocratic
hippodrome in this state.