Birmingham state herald., 1896-03-17

In other words the interests of the south have been robbed of more than TWO THOUSAND MILLIONS OF DOLLARS by the British gold standard, and the rob bery goes on at constantly increasing rate. The south lost only $130.000.000 on it's cotton in 1892, butin 1894 it lost $376, COOL 900. Is it any wonder that busi- ness Is depressed and all forms of indus try paralyzed?
 But this is not all Debts are still measured in dollars and creditors take no account whatever of the increase in the purchasing power of these dollars. Here is the secret of the whole matter, and 1t is not the ordinary creditors who are contending for the gold standard, but the big bankers, the owners of bonds and securities. They have combined and it is this combination that constitutes the money power
 Let the reader who is interested in this matter refer to the first column of MT Goldsmith's table. A government bond or other safe security that was worth $l00,000 in 1873 in gold, wheat, cot ton, silver and other commodities, is to- day worth $20O.O00 in the commodities with which people are compelled to pay their debts. A debt of $100 contracted in 1890 is today worth nearly $200 in the commodities with which the people pay their debts-for let it always be borne in mind that the people do not deal in
 
 debts in money. They pay their debts with cotton, wheat and other commod- ities that are the products of their labor They take these commodities to market and when they purchase money with them they find that they are compelled to give more than twice as much in quan- tity as they had to give few years ago in order to secure the same amount of debt-paying money. This shows what interest the big bankers and the bondholders have in measuring the value of the peoples property and products in a standard that is constantly growing dearer
 Another fact of tremendous import ance to this discussion is shown by MT. Goldsmith's table-namely that, as measure of the value of commodities, silver, and not gold is the staple stand ard. It is shown that in spite of the leg islation against silver it's relations to- ward the staple commodities remain the same-an ounce of bullion purchasing as much wheat or cotton in 1896 as in 1873 As measured in silver the products of the peoples labor have lost no value Whatever. The purchasing power of an ounce of silver is as great today as it was in 1873, except when gold is the com modlty to be purchased Then. to all ap- pearances, silver has appreciated one- half. As matter of fact, however sill yer and the staple commodities have de- piNtldltd bIlly NS compared With ROIQ. and this shows that there has been no depreciation at all, but that the gold dol lar has doubled in value In other words the robber dollar has acquired the valtS that formerly lay in two gold dollars.
 Yet the money power and it's active agents declare that the robber dollar (worth $2) is a sound dollar. and they demand that all other dollars of what ever form or shape shall conform to this value so as to carry on the process of robbery. This being the programme, the question arises, what are the people go- ing to do about it?"
 We have not heretofore seen the in- iquitous effects of the single gold stand ard upon the great industrial interests of this section so succinctly-and yet so ehensively-exposed as in the short contribution of Mir. Goldsmith. We take it for granted that every honest and pa. triotic man, be he an advocate of the gold standard or not wants a fair solu- ton of the great problem now before the American people and relief from the financial ills which are now blighting to ruin and destructon the industry and resources of the country and we invite all such to an impartial and intelligent study of the article in question, which we print elsewhere>