The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-07-18

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try to sell for the highest possible price
attainable.
Mr.. Rayner and those who advocate
the single gold standard attempt, by mis-
representation, Il hope not Intentionally
to delude the people by making state
ments that this country will be flooded
with silver from abroad should we elect
to coin silver at 16 to l. He knows, as
every intelligent man of this country
knows, that there IS not silver enough
produced outside of the United States to
supply the demand of the world for sub
sidiary coin and for the arts; hence such.
talk about flooding this country With sill
yer from foreign lands is bosh, nonsense
and foolish.uess. He also knows that
near, all foreign governments have coin,
Ind have coin in circulation at a ratio of
ID 1-2 to /, and he must know that no
sensible man and no government govern
ed by mon of sense would attempt to
export TO this country their silver when
| it was worth more at home than it would
| be here. He also knows that if this coun-
| try adopted the ratio of 16 to and coin
ed our silver that silver bullion would
immediately be at par with our coined
| silver, and that mo one but a crazy man
would sell his silver for less than the
standard price. Just before each Presi-
Dental election such men as Mr.. Rayner
| have nothing but praise and sympathy
for the laboring man, and his article pub
| lished in the Sun portrays in less elo-
quent terms than Mr.. Whitney did
short time ago from his standpoint the
evils that would fall upon the laborers
and wage-earners of the land should the
| United States remonetiZe silver. For
four years Mr.. Rayner has seen business
| paralyzed, mills idle, labor unemployed,
millions tramping the land seeking bread
| to eat, and yet he has not raised his voice
| in behalf of the distressed and needy I'M
\ til he thought probably his words might
have some effect upon the national con-
vention of the Democratic party, which
is about ready to assemble.
| Under such circumstance can he find
fault if those who earn their bread by
daily toll have some doubt as to his sin
certify of purpose in advocating the con-
tinuance of n monetary system that all
| history teaches is detrimental to the in
terest of the people. He knew, as an ed
ucated man, that Rome grew and pros
pered until she became the mistress of
the world. and under n money system
that furnished her people with all the
coin necessary for her trade wants, and
that when an evil hour came which re-
graduation: misery and serfdom followed,
which finally ended in it's downfall He
knows that upon the discovery of the
| enormous amount of gold and silver
mines in South America prosperity fol-
lowed. He knows that the greatest
period OF prosperity that this country
has ever experienced was when the gold
fields of California were discovered.
| which increased our circulating medium
to an extent before unknown. He
| knows that passing of n law by Con-
gress in 81 depriving silver of foreign
governments of its legal tender quality
in this country created panic and bust
ness depression throughout the length
and breadth of this great land He is
also not ignorant of the fact that the de-
monetization of silver in this country in
1873 caused panic, which was followed
by falling prices and general business de-
preston In every avocation of life from
the Atlantic ocean to the Pacific He
also knows that the partial restoration
of silver to its place in the monetary
world under an act of Congress passed in
I 1873 was followed by Il period of prosper
lty. But in order to bring his mind
more fully to the truths which we have
stated, l will make II few com parsons
and ask Mr. Rayner as to their correct
ness In 1873 prior to the demonetiza-
ton of silver wheat sold at 50 % per
bushel; after that date and prior to 1873
II.
wheat fell to eighty three cents per bushel.
When silver was struck down in 1873.
cotton was worth and sold for twenty-six
cents per pound, and it fell to eight and
hall cents per pound. After the act of
1878, partially restoring silver, cotton adj
vanced TO twelve and three quarters cents
per pound, while wheat went up in price
to one dollar and fifty-nine cents per
bushel. Can Mr.. Rayner say that this
was not benefitting the farmer and
laborer, and did not bring prosperity to
the tiller of the soil and the laborer in
the field?
"A favorte theme of the gold bug ad
vocates is that the reconciliation of sill
yer Will drive out of circulation and from
- this country all of the gold. History and
facts are against this theory. Fortu-
nately, we have statistics in this coun-
try, and II they prove anything, they
prove that the gold bugs are wrong in
their premises. From 1862 to 1877 the
amount of gold in bullion and coin
shipped from this country amounted to
S'62, 'O4 .09O while the import amounted
to but SlSS, 9S2, S13. This shows that we
lost in gold coin in sixteen years when
we did not coin one dollar in silver $3.50,
S31, III in gold
I'VE will take a later period; that is.
from 1878 to July /, 1890 According to
the Treasurer's reports and reports of the
mint we coined $3.50, 31S, S67 in silver. an
average of thirty-one millions per annum.
During these twelve years gold came into
the country. We exported but S263. 379.
215, while we imported 1921, 235. 21O. DO
not the figures and these facts prove the
fallacy of the statement of those advocat-
ing the single gold standard? No one can
dispute 1T, since it must be admitted that
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