Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1896-04-03

mand for the other, and by producing
fall of % per cent. in prices would
double the debts OF the world. itself
would be very severe blow to the
most deserving class of people, namely
those whose desire to improve and
build up the country, backed by their
courage and confidence in our in stitu-
onsand the integrity of our legislators
had led them to employ borrowed cap
ital to promote the industry and well
fare OF the land; but that this effect
alone would be triiling in its disastrous
consequences compared with the uni
versal stagnation OF business, the world
wide paralysis of industry and general
blight OF productive enterprises re-
sulting from constant fall of prices
and consequent ruin of producers.
Special emphasis was placed on a let
ter written in 1871, by Ernest Seyd, in
which he not only pointed out that
the decentralization OF silver would be
followed by universal business prostIa-
ton and distress, but also prophesied
the false and the irrelevant reasons
that would be assigned by some econ
omists and newspapers to account for
the melancholy condition OF affairs.
Numerous indeed are the causes
which the people have from time to
time held responsible for this almost
total defeat OF their most historic ef-
forts to preserve their property and
bring content again to smile on us.
AT one time the people have apparent
ly been certain that the Republican
war tariff was to blame, and at the
next election been equally convinced
that 1t was Democratic free trade tin
kering. Then labor organizations and
strikes have been the objects OF attack,
and now the wise men OF the East
gravely assure US that that the trouble
lies In lack of confidence, but what the
people should have more confidence in,
they studiously abstain from telling
us. During the past twenty-three
years, we have been blessed with Re.
publican government and with Demo.
cratic government, and some of the
States have been blessed with Popu-
list government, but whether the one
party or the other has been in power,
THINGS HAVE GONE ON STEADILY FROM
BAD TO WORSE,
the only difference being that they
nave got worse faster at some pc
RODS than Others. Ateach succeeding
election, the Outs have been able to
convince the people that things were
all wrong, and that they we're in a bad
fix and they have generally made the
people believe that the ms were re-
sponsible, and they have unceremoni-
iouly kicked the ms out and put the
Outs in, putting little more empha-
sis in the kick each time. During the
next campaign, the people may have
some difficulty in locating the blame,
as the Republicans will charge it to u
Democratic President and the Demo-
Gratis to Republican Congress. Un-
der these circumstances, what will the |
people do? They have tried every
remedy but the right one, restoring the |
currency to where it was before few
scoundrels bartered off the peoples
veal at the command of handful of |
bondholding Shylocks on both sides OF
the water. They may try the remedy
recommended by the advocates OF free |
coinage in all the political parties.
THE TRUE CAUSE OF THE TROUBLE.
We assert, and believe we can prove,
that the demonetizs ton of silver is the
prime aud potent cause of most of the |
evils which we have suffered,
The speaker then produced charts
which were presented to the BRUSSELS
Conference by British delegate and
acknowledged by all to be correct.
These charts showed constant fall of
prices since 1873. keeping exact pace
with the fall OF silver up to 1891, and
from that time the index numbers
from the London Economist showed a |
decline between January LIST, 1891, to
January LIST, 1896, all along the line.
Breadstuffs. including wheat, corn,
rive, oats, barley and buckwheat fell |
4O.4l per cent, and every other prod
uct OF agriculture to a greater or less
extent. He showed that the fall in |
breadstuffs alone, since 1891, amount
ed to q loss TO the farmers of $780,
100000.
He showed how constant fall of
prices, paralyzed industry by making
il Improbable, and as a consequence
Frustrated business and threw millions
in this country out OF employment,
thus checking the production of
wealth and blighting the progress of
the country. He then turned his at
tention to the objection that the
United States cannot restore silver
alone. He said: The capacity of
any people to affect the demand for
either metal as money depends on the
volume OF business transacted by that !,
country in proportion to the total VOL
ume Of the worlds business. 1t may
be conceded that Mexico, or any
other of the unimportant nations,
could not restore the parity between
gold and silver, because they do so
small volume OF business, and con-
sequently can create only small de-
mand for the metal they adopt, but the
United States annually transacts more
than one.half as much business as all
the balance OF the world combined.
SOME FAcTs AND FIGURES.
Mr.. Mullhsll, the great English sta.
tistician, in an article in Public Opin.
ION OF June 6, 1895, shows that when
the productive energy of the different
nations is reduced to foot tons, daily,
devoted to the creation OF wealth, they
stand thus:
United States. Observation-Disclosures. l29 900 600 900
Great Britain. Sc ,0O0, 0O0 900
Germany q, 900 900 600
France Observation-Disclosures. "a 900 900 400
Austria ............-.. ......... % 900 600 900
Italy Observation-Disclosures. u, OO0OO0OOO
Spain l0.000, 900 900
1t will be seen that the United
States almost equals the next three
great nations combined, and trebling
the succeeding three nations COM