The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1896-08-08
FACTS ABOUT SILVER
TELLING POINTS ny W. J. STRONG
OF THE CHICAGO BAR.
RuInOus Competition OF siINer-UsinE
Countries OF the world
Facts for Farmers.

the ouibbling over statistics and tables
OF prices has a tendency to obscure the
two great truths that to me seem all
important to keep in mind IN
arriving at a just solution Of the hon
esty and wisdom OF restoring silver %
its former position as money Of ultimate
redemption.
These two truths are: First. the admit
ted appreciation of gold; second. the
competition OF India and the Argentine
republic IN wheat. cotton and various
manufactured products.
Mr.. Gifin, the statistician or the Lon
don board OF trade, and goldous oil
goldbugs, admits that the purchasing
power of gold has practically been doubt
ed since silver was demonstrated EhiS
all honest men admit II this Is true
then 1t must be true that all money IN
gold countries has doubled in value, De
cause other money. which We call cream
money, Is worth just as much as me
thing in which II Is redeemed, so long a
we have faith that our government VIII
redeem in gold. Then all money has
doubled in value. and will purchase twice
as much as all other forms Of property
as it would prior to lS1a This relative
rise in the value OF gold is unquest'on-
ably caused by the double demand Tor
gold. This demand was created by Law
When silver was stricken down BY "a"
as a money OF redemption money as be
fore, and this demand was transferred
to gold. Now. II this is true, then one
form OF property-namely, money! A.
given a special advantage by law over al
other forms of property. So that man
having money can now exchange his
property for twice as much of any other
property.
The debtor. not being a moneyed man
must sell twice as much property 10 SeL
the money with which TO pay his debt,
Is this class legislation, or Is II leS!s-
lation in favor OF all the people, This
one fact. 1t seems 10 me, ought TO con
vince every patriotic American tAAt q
Is for the best interest OF the great mass
OF our people to remonetiZe silver a.
once, and without first asking the CON
sent OF the aristocracy OF Europe, when
Is what international agreement means,
as all the European governments are
dominated and controlled by the money
power.
The other great fact is that India, the
Argentine republic, Japan, Mexico, etc.
have always been on a strictly silver
basis. and can not do better than quote
the exact words Of Jay Cook. the great
est financier this country ever produced.
who. although he failed for millions OF
dollars. has paid every debt in full, AnC
is now a rich man. In his letter 10 M
OF July Is, lSsS. he uses this exact ldngu-
age: "One OF the great and terrible re-
suits OF gold monome a.lism Is now and
will be the direct competition of Al.
strictly silver countries, which, under he
influence OF cheap silver (Which Is the
only currency of over one thousand
million of the worlds population. vi.
gradually. If not speedily, and even with
large tariff protection, so increase their
production OF wheat. cotton and various
manufactured articles as TO utterly TAX
possession Of not only their own home
markets. but the markets Of the who'll
world. l see but little reference to this
terrible danger in any OF the arguments
used against the gold standard, and ye-
this danger exists, and is increasing
hourly. In India, for instance, hundreds
of miles of new railroads are being built.
opening up rich. alluvial soils for the
cultivation OF cotton and wheat. The
best American and European machinery
is being used and made familiar TO the
orientals: hundreds OF cotton and other
manufaCtorie are being erected. wills
thousands and tens Of thousands OF Eng
lishmen, Germans and Americans are
reaping large salaries as directors. man
ayers and tutors OF this immense horde
Of docile, hard-working people. who, with
wages not one-tenth as great as those
paid In this country, are rapidly bec0u-
ing skilled in every mode Of agriculture
and manufactures. Thel- wages are paid
in cheap silver, and the goods the wheat
and the cotton they export bring those
countries (even at the present low pre-
OF wheat and cotton enormous profits
our bankers our farmers. our manustc-
turers. our cotton raisers, etc, DO not
take instant alarm at this prospect o.
overwhelming competition. up to date,
which has already damaged our nation
to the extent of hundreds Of millions
per annum.
What will be the effect II this comp@-
ton is further stimulated by the con-
tinuance in our country and
the countries OF Europe of this
single standard OF gold? No amour. Of
protection can possibly shield Us from
the importation OF products from ta.S-
oriental. South American and Mexico ma
tons. whose laborers receive from ) 20
10 cents a day. and that in silver pur-
chased with the products Of thsir exports
at 30 cents on the dollar"
1t will thus be seen that We, the great
est producers Of silver and the largest
manufacturers Of agricultural machinery
in the world. are furnishing them cheap
silver and cheap machinery 50 that they
are able to produce at half the amount
1t costs US We thus furnish them the
weapons with which to gu: our own
threats.
The only way our manufacturers an
hope to compete with them. while N
gold basis, Is to reduce the price Of labor
and raw material one-half
BY doubling the price Of gold We have
reduced the price Of silver when n as
ured by gold one-haf We have doubled
the price Of the thing which England
controls, so that Engllshmen can sell the
products raised in India for gold. and
take that gold and buy our silver al half
price, they can go to India and pay for
labor one-haf what II would cost Us
even IL labor was as high as in this c1un-
try. and they are thus enabled 70 pro-
duce for one-half what It costs US Il {,
any wonder that our factories are
closing thus throwing thousands OF our
people out of employment
II our manufacturers can not make
der that the price of agricultural pro
ducts is 50 low that our farmers car
not get enough for their products 10 pay
the cost Of raising them? Our only
chance to change this state Of anlirz |
Is to raise the price Of things We produce |
viz, silver and machinery-by remoua- |
tiLing silver, and making 1t a money ~ |
ultimate redemption. thus creating |
greater demand for II, which must ne |
cessarily increase its price. and By thus
lessening the demand for gold lower its |
price. so that they can not then get any |
cheap silver, and thus make Il cost them |
Just as much TO produce It as Il costs |
US. They can not then compete with
Americans. who are the brightest mos. |
ingenious people in the world. The To- |
publican party is pledged to continue the |
present gold standard. Can Il be that |
party prejudice Is so strong that patrlotlc |
republicans will vote for party as against |
their own country and its welfare
W. ]. STRONG.
or the Chicago Bar. Author Of The Dol