The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1896-10-23


goods on the market to undersell us.
G: Where does the "cheap silver"
come from?
NJ: About half is furnished by the
United States, the rest largely by Mex
leo and South America.
g: How can it be made higher in
price?
M: By opening our minis to its free
coinage at ratio of 16 to l, 81 20 per
ounce, as before 1878
G.: But wouldn't we have to coin all
the cheap silver that these $50 millions
people own?
NJ: No, sir: because their siver is al
ready coined at ratio OF 10 or 151 to l,
that is, 81 40 or 81 .33 per ounce, and they
would loose the difference between $l.29
per ounce and $1.40 or $1.33 per ounce,
also cost of transportation. Besides,
what would they do with silver bearing
our mint stamp-ship it back or buy
goods with itP
G.: But free coinage of oliver law
would give the mine owner large prof
it.
NJ: Yes, to the successful ones; cut
they are just as much entitled to helpful
legislation as we woolen men; In fact,
that special plank for wool interests
which the republican platform contains
reads: "To all our products, to those of
mine and the field, as we'll as those of
the shop and factory, to wool, the pro-
ducts Of the great industry of sheep hus-
bandrY, as we'll as the finished woolens,
we promise the most ample protection" :"
That promises ample protection to all
American products, which includes sill
yer as we'll as wool. regret that Nc
Kinley is not true to his past, or the re-.
publican party's past, or to this plat
form.
G.: How so?
M: He advocates q final policy that
shuts the mints against our own miner
ais and compels the National Treasury
and individuals to borrow the products Of
English gold mines and pay that rival
nation enormous sums for interest. It is
neither fair nor good policy to ignore the
silver miner. You can't discriminate
against him and not harm dependent in
dustries. We will help our wool interest
directly by giving the silver miner the
legislation he asks for; and would also
help all other American farmers at the
same time and for the same reason. Our
wheat, cotton, etc., are exported in large
quantities and must compete abroad with
crops raised in silver countries, the cost
of producing which has been paid in
tcheap silver" The farmer and wool
grower are alike injured by the compe-
ton. The wool grover has received some
help by high tariff, but no duty can add
to the price received for wheat or cotton
exported 80 the only way to protect those
is to rise the price OF silver.
g: Yes see how $1.29 an ounce would
hurt foreign competition and am glad you
made the point that high duties will not
increase the price Of farm exports Many
combine general farming and wool grow
ing and the information should reach
them.
M: You see, then, it is practicable to
protect the gold aud silver miner, the wool
industry the general farmer all by open.
ing our mints to silver.
g.: Yes, but | never understood the
subject before.
NJ: The foregoing are not all the ad.
vantages which would result from the
free coinage. The benefit Of gold and
silver mining are distributed more wide-
ly than any other industry. 1t completes
with no other. The opening Of one fac
tory may close another, but we can't have
too much gold and silver, especially that
taken from our own mountains, The
product of silver and. gold mine adds TO
the permanent wealth of our country,
and by enlarging the volume OF money
increases the purchasing power of the
hn inn su ha OF 10
of the farm, factory and railroad, and as
he produces nothing that he consumes,
all his needs create demand for labor in
other lines. 1t is stated by Carroll D..
Wright, l think, that each gold and sill.
yer miner underground gives employ
ment to ten ether men, directly or in.
directly.
q: can see that this industry creates
demand for everything, and produces
the money to pay for it. But when this
government establishes fixed mint
price of s1.29 for our silver, coins it, is
that not making "1at" money?
Nj: No more than by it's fixed mint
price Of $40 81 per ounce for gold, regard
lees of what it cost TO produce, which in
some mines would be $2, and in others
$40 per ounce Why favor gold and dis.
criminate against silver?
G.: But would there not be an over.
production OF silver7
M: My ranch being in New Mexico,
give me an opportunity for practical study
OF mining. | found it was for more diff
ficult to wrest silver from natures store
house than to increase the wool clip or
coal product. Nature welded gold, sill
yer, and other metals. Often silver and
gold are linked, very generally silver is
combined with lead, alec copper and zinc
ALL five of these metals are mixed iu
many mines. So that every ounce Of sil
yer produced means more or less Of al
these others.
G.: This conversation has been very
instructive. Let me summarize it. Tha
legislation is beet which benefits the
greatest number. You have shown.
/. That by opening our mints to silver
as they are to gold, needed money woull
be taken from American mines, and we
save the interest paid for the use OF Brit
ish gold.
2. This mining would put in operation
dependent industries, and thus create q
new home marbet for our fsc.ories anC
| farmers.
8. A fixed mint price Of 81 30 per ouDcf
for silver would destroy the advantage
given competitors by cheap silver, i. g
It would protect American farmers, man
ufacturers and labor at the expense o
foreign rivals, and not, as does a higl
tariff. make all our people contribute fo
the direct benefit Of one class
5. That bill imposing high duty Of
foreign wool can't paes the Senate unit
silver is restored to the place il occupied
for eighty years prior to 1873.
5. Therefore. the only way TO restori
prosperity is to elect Mr. Bryan.
M: Correct. Although heretofore O
republican, consider that party has for
feited sll claims to my allegiance b.
| it's radical departure from previous plat
| forms. Il is intensely bumiliating to an
American when his party confesses tha
the present harmful gold standard mus
remain until rival nations consent TO 4