The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-04-10

panic resulted from fear OF the remOne-
t'Zation of silver, and that when there
was no farther danger Of remonetiza-
ton. prosperity would return. "A free
coinage bill was not passed and what is
mcresthe Sherman act was repealed and
prosperity is still far away.
But the browning act and the one
showing the relation between the Wall
street bankers and their London part
ners, was at once laid bare, when Eng
land arbitrarily closed the minis Of
India to the free coinage of silver.
In consequence Of this silver at once
shrunk 20 cents on the dollar. creating
a breach in the intrinsic value Of the
dollars. as represented in gold and
silver respectively.
Now a large portion Of the people OF
this country in '93. frightened into sub
mission to the program Of the banking
monopolies. began to clamor against
any attempt at reconciliation. and by
urging their representatives In con-
gress, not only succeeded in preventing
reconciliation, but forced the repeal
of~all laws favorable to silver as a
standard of value. Thus one-half the
standard money was given a final blow,
all OF our silver money becoming mere
ly token, or like a paper currency. re-
deemable in gold. It is natural that
when redemption money is reduced by
one-half, the half remaining will in
crease in purchasing power. Prices at
once began to fall. 1t was soon found
out that money would purchase nearly
twice as much product as before. For
instance, wheat fell from 80 cents a
bushel to 40 cents. To the owners of
money this meant prosperity, to the
owners of products and all those who
have something to sell, including their
labor, it simply meant ruin.
There were, or there are, some rich
men, strong enough and patriotic
enough, to resist this form of infamy,
even at the cost Of their own fortunes.
Chief among these is the subject. of
this address. Mayor Pingree is a
wealthy manufacturer as we'll as mayor
of Detroit. On expressing his opinion,
he Immediately became the object Of
ridicule at the hands of a large por-
ton Of the prominent newspapers of the
country. But ridicu]e is not argument,
facts can never be answered by abuse;
in this day the people seek the truth,
not abuse. They behold in such men
as Mayor Pingree, a possible savior for
the cause of humanity, and of the re-
public.
r.. fNoxu lot nc 1n0k of MovNr Din oroo'c
views on transportation monopolies. He
believes in government, state and mu-
nicipal ownership, in all quasi public
monopolies. For instance, if the gov
eminent runs the postofice department
successfully, why should it not run
the entire railroad system or telegraph
system? If municipalities run the
water system successfully, why not ex-
tend our ownership 10 gas or street
railways? Such a condition Of affairs
would have two good results, the aboli-
ton of vast private fortunes and in a
more equitable distribution of wealth.
For instance, instead of paying ex-
orbitant rates to private persons or
corporations, the people would be prac-
tically paying their own money into
their own pockets, as it were. It is
plain that government and municipal
ownership of public monopolies would
be a benefit to mankind. The subject
admits of very little. If any. adverse
argument.
Nov let us look at Mr.. Pingree's
views Of land mcnopolies. First, we
must find out what land monopoly is.
I will give a simple illustrations: On
the corner Of Garfield and Michigan
boulevards there is a vacant lot valued