The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-10-28
| ton but that this is so; the incompara
tive failure of credit in, America shows

that"
"Do you not suppose that credit
within the United States may as we
are told, have collapsed because of the
silver agitations"
mo. do not think SO. You sec,
that during the past few years, the
countries with depreciating currencles,
such as Russia, India, and even Ar
eentine, six years ago bankrupt that
these countries have improved their
credit in the markets of Europe very
materially"
.Do YOU think that free coinage
will bring the dollarto so centsa"
THAT is statement so fantastic,
and even wicked, that it must lose Mr..
Mckinley many votes. AS foot
rule is 12 inches long so, also, is dol
lar 100 cents; the terms are identical.
What the phrase means is something
quite different; it mean that the pur-
chasing power of the silver dollar al
ter free coinage will fall by 81 per
cent. in other words, that prices OF com
modities will double. OF course this
is not true either. If the rise in silver
is to involve any such rise IN good
prices, then the converse must also
be true, namely that the fall in silver
has brought about the present great
fall in gold prices. In other words,
that because of the fall in silver we
are now using a 2O0cent dollar-a
dollar which buys twice as much as
90 years ago. But as far as the work
ingman is concerned, it is to be re-
membered that his daily expenses are
to a high degree constant. 1t is only
wholesale prices which tluctuate vic.
lently. In the wholesale markets
prices have fallen increasingly, and
in these markets a rise would be the
salvation of the producing classes.
"You will admit" said DR.. Arendt,
"that all history shows that the well
fare of the working classes does not
depend upon the price of bread, but
upon the demand for their labor. If
prices rise, of course the demand for
labor increases; falling prices are ever
followed by a decline OF industrial en-
terprises. From Russia, for example,
the very home of low prices, laborers
are now migrating to Germany, where
prices are higher. Again, from our
eastern provinces in Germany, where
the cost of living is extremely low,
the human stream flows westward.
even though living in western Ger
many is dearer. The cost Of living in
the United States is far higher than in
Italy, still the American workingman
does not emigrate TO Italy. On the
contrary, it is the Italian who emf
CRATES to the United States. There is
something unreal and shadowy
about this working class argument.
Labor gets its tolerably regular per-
centage of all the wealth produced. If
more wealth is produced in America,
then, with free coinage, the working
classes will get more Of it. And free
coinage, which will of course raise the
price of silver, and thus raise the eX-
change rates with all Asia, will firmly
establish many productive industries,
the existence of which in America,
and their transference to Asia is seri-
ously threatened by the present low
price of silver. The especial money
of the working classes is silver money !;
and to prevaricate, to shuttle and to
frame thories that this money should
be kept 'destandardized,' as today, in
order to protect that class which re.
ceives its wages in silver-such the.
ories are disgrace to those who con-
tinue to employ them in the face of all
the facts.
"And, DR.. Arendt," said his inter-
viewer, what effect has the nomina-
ton of Mr.. Bryan on a free coinage
platform had in Germany2"
"Of course, the moral effect Of such
a nomination has been very great; it
came at time when we in Germany
had almost ceased to look for it. Were
the German agricultural population
resident in the United States, our ag.
gragrian class would almost to man
vote for Mr.. Bryan. I have seen it
stated in an American paper that were
America to 60 to free coinage, Ger
many would take advantage of this to
sell the United States her mass OF legal
tender silver thalers. Such a state
ment is ridiculous. The German ag-
ragrian party is in a position of great
strength, and would not tolerate any
such operation for a moment. No
ministry adopting any such policy
could carry it through; indeed, its
only supporters would be the social
Democrats and handful of such po-
liticians as Bamberger and Barth. Our
parliament would refuse to vote bill
to make such sales by an overwhelm-
ing majority. You have seen what
the opinion of the agrarian leaders is
here at Buda-P a-Pesth. When the choice
left to governments is between bank
ers, stock exchange brokers and farm
ers, the farmers, must in the end car
ry the day. The nation may get on
without Wall street, but it cannot
sacrifice its farm population. In every
country the opposition of the anarch-
lists and the social Democrats will
have to be met by the forces of uni.
ted agriculture. Mr.. Bryan's victory
will prove one thing to Europe-that
by union the weak become strong, and
that although it is infinitely difficult
to combine Democrats, yet thatit is
not altogether impossible. Mr.. Nc
kinley has elected to stand beside the
money of the country and Mr.. Bryan
by the men. There is an old proverb,
'Tell me with whom you associate,
and will tell you who you are. ,"
Killed by Bomb.
New YORK, Oct. 23.-I[amlin J. An
drews, President OF the Arlington