Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-08-11
PROTECTION,
~BI-METALLI8M,
STATEHOOD.
TUESDAY EVENING. AUGUST IL, 1896
PROTECTION AND BI-METALLIsM.

AMI hl.nu
THE OPTIC a before alluded to the
intimate connection between these two
great principles. In fact they are
logically %inseparable in every way in
which they can be considered. 10. day,
we are going to speak of their connec-
ton in relation to patriotism.
Protection and bi-metallism are
American. Free trade and the single
gold standard are British. Protection
and bi-metallism look to the prosperity
of the American people, to the eleva-
ton OF labor and the payment Of fair
prices for all produces Of American
industry. 1t is the glory of our coun-
try that the American mechanic, farmer
and laborer is a self-respecting human
being, living decently and bringing up
his family In a pleasant home, and
with q sufficient education, SO that the
younger generation may rise even high
er than their parents, and lead happy
and virtuous lives. This can only be
attained and preserved by securing to
them affair compensation for their la.
Dor, and protecting them from the un-
derpaid labor of less favored lands.
This fair compensation is impossible
unless the products OF that labor bring
fair prices.
Now such of these products as come
In competition with similar articles
imported from foreign lands a be
protected to some extent by a tariff
and we believe thoroughly in that pro-
lection. But the class of products that
we export, instead of importing; that
IS, the articles that we produce in ex-
cess of our home demand, cannot be
helped by any tariff. They have to be
protected by keeping up the prices
abroad. For instance, our two great
articles for export are wheat and cot
ton. The price of these is fixed in
London, and the English try to make
it as low as possible, as they have to
use vast quantities. OF course they
buy where they can buy cheapest, and
since 1873 the great competitive supply
has come from India. The rate paid
for East India cotton and wheat fixes
the price, and we cannot get more for
ours than they do for theirs.
By demonetlzing silver. its price has
been so much reduced that the English
importer can bay an East Iadia rupee
for twenty-four cents. while is is prop
erly worth forty-seven cents. The
rupee in India buys just as much wheat
or cotton as it ever did, SO that the
Englishman gets almost twice as much
for his money as he did before 1873;
and of course that reduces the price of
American wheat and cotton to half It's
proper amount. This is the reason OF
the low prices of those articles. The
instant that free coinage is restored,
every ounce Of silver in the world will be
worth 81 20, and a rupee will cost
forty.seven cents, and the old prices for
wheat and cotton will be restored.
One very important result of this
will be that the balance Of trade will
then be largely on our side, instead of
on the side of England, for they will
have to buy just as much wheat and
cotton as before, and SO, instead ofgold
being exported to England to liquidate
the annual balance, they will have to
send money or securities here every
year to pay the balance due us.
OF course the English do not desire
this, but we should repember. once 10