The morning times., 1896-08-11
First Restore the Conditions.

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wd and that be successful the remedymust be equally
extended the far reaching disease. 1t would be
nearly ridiculous to attempt to heal commercial
and industrial with the unlimited coinage of silver,
confined to the United States it would be prevent
cold weather by building tight board fence around the
polar regions The real of the universal hard times
is general overproduction of the great staples of com
merce. Improved methods, increased and cheapened
OF transportation greater and extended
OF labor rsaving machinery and the opening OF new
and abundant have caused greater yield
of agricultural and manufactured products than the
slower growth of population has demanded The result
has been oversupply Well informed students of the
question attribute the overproducton of farm products
and their consequent fall in prices to the cultivation OF
large fertile sections Russia India and the Argentine
Republic which have grown immense quantities of ce-
reals cheap labor prices. Most wageearners under
stand the why manufactured products have
ceeded the demand and that point will not discuss
the free silver remedy at the present time
But the information to the enlarged growth of
farm products is of great mportance inasmuc
Der of farmers have been led to believe that the decline
in prices is due alleged demonetzaton of silver
1873 1t also shows the necessity of adopting reliable
method of increasing home consumption order to pre-
agricultural element from sinking the level of
cooley serf and South American labor Every additional
pound of wheat any other farm product consumed in
this country and above the demand supplied
will prove powerful factor in uplifting and making
American agriculture profitable and that result
be accomplished under reg of free trade and
free silver Another why the information is vau
able is the evidence it establishes that free silver would
practically close foreign markets the sale of prod
ucts and do the country ncalculable injury. It is
ported that there FIVE billions of dollars of
foreign gold invested in the United States bonds
cages and other securities and should Congress author
ze the payment of this vast debt in 50cen dollars it
would be act of national dishonesty for which
have neither Justification The greater part
of this debt practically all of it in fact has been
tracted while we have been gold basis. and the
pudaton of one-half less of it. by national law
would rightly the and contempt of the entire
world Such disreputable policy could have
other effect than to American products to be
against by the people of every country that
had been defrauded
One Of the silverite arguments is that gold has
precated doubled in value since 1873 and that foreign
would suffer loss by being paid deprecated
money Let any of them what he would say if
England Germany France, any other great country
made a similar proposition. Not only would he insist
that the United States Immediately stop further
cia intercourse with that country but he would also
maze it unworthy of civilized recognition. 1t is
mistake to think of taking such financial bypath to
national ruin and disgrace To agree to the adoption of
debased monetary standard the plea that
1873 would be humiliation from which could never
recover. While it is true that our mnts open to
the free coinage of silver prior to that tme is also
fact silver in circulation that less than
eight millions of standard dollars had been previously
coined in ALL Therefore demand for bimeta allism as it
existed at that time is not only unreasonable but impos
sibe When mnts closed silver in 1873 the
entire world amazed at the extensive silver discover
s and the impression prevailed that its rapid increase
of production would render it practically vaueless
money metal One after another of the great CONNER
nations including the United States ceased its
as legal tender, and have justified their action
at $751; OOO OOO In it S226 OOO showing an
of 176 per cent The population of the world
1873 about 112O 900. In 1895 it estimated
at 6OO O0O O0O increase of only 80 per cent which
practically demonstrates that the increase of the produc
on of silver has outsripped the growth of population
nearly six times and that its free coinage by all the ma
tions would not have kept it at parity with gold
Therefore before free silver be successfully
it existed in 1873 the monetary and commercial condi