Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1896-10-31
MENACE
To Farm and Factory Is the Maln-
tenanee OF the Gold
Standard.
silver Countries Are Now Respfng
m harvest, and Promise 60
Control All Markets.

Nevsd,, spoke here to q large audience
tonight. He first discussed the effect OF
the goh premium in silver countries in
stimulating their agricultural production
in competition with our own. and then
took Up the question Of manufacturing
competition as follows:
Mr.. Newlands said "Now, the next
thing is as to how soon this competition
will be operative in reference to our man
uf~acturing industries. / claim that in
the next three or four years the manu-
featuring industries in the New England
nd Middle States will feel the force Of
the competition Of the silver countries to
as great q degree as the producers of nat.
ural products have in this country. That
competition is already felt by England
and Germany, felt not so much in the
invasion of England and Germany by the
products Of silver countries, not felt in
the loss by England and Germany Of the
markets which they have hitherto con-
trolIed in silver countries.
"The effect of the depreciation of sill
YER has been to put a bounty on the do
nestle production Of silver countries.
Such q country as Mexico, having been
accustomed to buy all manufactured pro.
ducts from England and Germany, finds
itself obliged to turn its silver into gold
for that purpose. and it gets only one
half for its silver as il used to, and the
result is the Mexicans commenced to
manufacture for themselves, and it has
now become the settled policy of Mex
leo, so announced in its leading paper,
to cut off importations from gold stand
ard countries aud stimulate the manu-
~facture of all products for which they
have been obliged to rely upon gold
standard countries heretofore.
DANGER OF Oriental COMPETITION.
"By striking down silver we have
given silver standard countries the ad-
vantage of cheaper production, which
has already disasterously affected our
farm products, and is about to affect our
manufactured products. Our country is
on the down grade; japan and Mexico
are on the up grade. There is one thing
you will observe, and that is that distress
is the greatest teacher Of political econ-
omy in the world. 1t was the distress Of
the mining States that first brought the
attention of their public men to the mo-
ney question. They were ignorant to
begin with, but they commenced to study
it simply because they found that the
price Of silver bullion was declining, and
that there was q relation between the
value OF the ounce Of silver bullion
and the money question, and as they
progressed in their study they found that
the volume of primary money bad q re-
lation to all values. and so gradually such
men as Jones, Teller, Stewart and others
became the leaders Of agitation on this
subject. Then you will find the wheat
growers attention was attracted to il,
because they found there wal . certain
relation between the value Of the bushel
Of wheat and the ounce of silver, and 80
they began to study the question and
then the cotton growers began TO study
this question.
"Now, what other class has studied
this question The manufacturing class
Of England and Germany. The most
prominent bimetallists in those countries
belong TO the manufacturing class, and
almost the entire agitation in those ooun.
tries is being conducted by it.
OF course, the lsnd-owning class Of
those countries had joined in that sgita-
tion. 1t commenced il. probably, but 1t
has reached its intensity through the agi.
tation Of the manufacturing class, and
what caused it to sgitate it was simply
distress and suffering. II had been JON
trolling the markets in the Orient and in
silver standard countries generally. 1t
had been manufacturing its goods and
sending them out there for sale, and had
absolutely monopolizsd those markets,
and it found that the
PREMIUM UPON Dill
Caused such countries IS India, Japan,
China and Mexico to gradually establish
manufacturing institutions Of their own
and that they were gradually losing their
trade. and you will find in the proceed.
ings of the Berlin Silver Commission, .
commission recently appointed by the
Emperor for the purpose of investigating
this question. their inquiry entirely turn.
ed upon the effect of the depreciation Of
silver upon their industrial enterprises,
and not the effect of the disuse of silver
in causing q contraction Of the currency.
You will find almost the entire discus
sion was upon the effect Of the fall in the
price of silver upon their manufacturing
industries. and there were accounts there
Of entire manufacturing districts in Ger.