New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-08-05

4 c9uHt1eS 81 brown, 5OF&OnlsaSSO. OF La
. kota, or Douglas, or Fillmore, or Good
/ hue, Eor Kandlychi, or Mobiles, or Walton.
wan. Just think what little banking
business Banker Merriam's town does
! Penny Press.
New York Journal: Moreton Frewen,
writing IN the London Daily Chronicle
says: 6 Your request for short state
ment Of the causes which have forced the
silver question to the front in American
politics IS not very easily met. In writ
ing for the Daily Chronicle I should have
wished to deal particularly with the la
Dor aspects of the issue, which, during
the past four years, have proved liberal
lfeducation to the American workingman.
"The interest of labor in the silver
question has been admirably summed up
! in the speech to his constituents in 1894
by the present speaker of the house of
representatives, Mr.. Reed, of Maine. Re
ferring to the closing of the Indian minis
by the government of India and the great
fall in the price of silver which followed,
Mr.. Reed said: eve have learned from.
that object lesson that the yellow man
using white money holds at his mercy
{ the, industry Of the white man using vel.
low money. =$ ~ 5s .5.z -; 81 &
'sT This nov nov. historic sentence crystalli-.
zes the position admirably. The value
Of hls silver coin for the Chinese and ia
panese races is today as great as ever,
that is to say, while silver has fallen one
half in gold value, yet its purchasing
power at their homes is no whit dimin-
| ished. ...s
"The results that the fall in the gold
price ofsilver occasioned by the closing Of
the Indian minis, the repeal of the Sher-
| man act and those other excuses of class
legislation intended, in the stock phrase
of the day, to appreciate gold and en-
rich bankers and other money lenaers,i to-
day creating in the far East mushroom
growth of industrial enterprises in mine,
in field and in factory, the exports of
which Oriental industries compete with
products of white labor in the markets
Of Europe and America on terms Of great
! advantage because of the fall in the price
of silver. ~
"Cheap silver in the East, silver cheap
ened by Western legislation, involves
cheap men and women in the West, and
not merely cheap men and women, but,
indeed, great masses Of men and women
who can get no employment at all.
/ ut is this which has now at last awak-
ened the American nation, and this awak-
ening to the most imminent race danger
which has ever confronted Western ma
tions can be relied upon ere many days
to educate also captains Of industry in
Great Britain to the murderous indus
trial competition, fostered by cheap sill
yer, cheap because its historic money
demand has been restricted or even
abolished.
"The poli.ical forces behind silver ap.
pear to me to presage the defeat of Mai
I - - - .
Mckinley and his party Of gold. More
than anything else free silver in Ameri-
ca stands for agrarianism. There are
some 100000 farm voters in the Uni.
ted States "a vast, scattered host, quite
undisciplined, difficult to combine, and
therefore, impossible to buy.
II can imagine no more serious fnan:
cial catastrophe for English investors
than to be lulled into sense Of false Sc.
curitY by daily assurances of their New
| York correspondents that Mr.. Bryan.
candidature is hopeless. So
Free silver will at once raise exchange
rates between Europe aud all Asia, anc
also between Europe and South America
thereby greatly STIMULATING our export
I trade to four-ffths Of the inhabited
world, and will also at the same time Sc
cure expansion Of the exports Of tile Uni.
i ted states to Europe. For lack 81 this
expansion and consequent favorable
]. trade, balance, that great debtor natio1
ST: stoday nsolyent, borrowing siils pay
with diligently and at hi ii rates, and pill
ing higher that debt burden which be.
comes more and more intoleraDle Will
each fresh fall Of prices.
hatever the United States in raiisiins
i the level Of Of xcl,ang &C omplish
essfor her own benefit she nee omplishes
equally for every white farmer and white
ingnans every phe