Rock Island Argus., 1896-10-25

rush of SN-sttr usss - traced Issslss.
less u VAS stinlsiatad in t.- Hsst in
Stance - th- tiTntness " nsunrg IA
the dFz.ssifit. ia of haul-rs- loarla Th-a
it Nas .ucograEssl aud facilitated ~
the rate wars on IN. souihsfn and
western rusd-. which induced hsidr-z
os old grain to ship IL a. fart as sh-y
could. These rate vars enormously in
creased the voiuFnc Of traffic. ~ hsi~
adding absurdiy little 10 the earnings
OF the fnads. All n. grain collecting
eenters. Kansas City. Minneapolis. Do
luth. Chicago. ~. Louis and Peoria.
had record receipts. = statistical au-
thority estimated that in the first thncs
weeks after the reduction % ff.-ish;
rates gs.aec.ece hushci. of grain were
carried from the western and sorth-
western states TO the seaboard
'-'Th. whole OF that work vas svidsnt-
IL don. under great disadvantage. aud
with little. u any. profit. much of d
J.rkar- 81 n positive io-s. Tn. farmer
y no raised tn. grain mas have starved
or Elur bankrupt. The TAIL
roads which carried it O. the s-alsnard
of a ,..nt per ton per mile arr duuist-
less Qualifying for fresh rec.ivershifss.
The elevator companies. th. brokers.
and the exporters. have al had a.
adapt themselves to the hard tiuirs.
and 90 work ON very slender margins.
| TheS- individual Losses swell up into
| huge. one might say stuissndoua.
loss L. the nation. That is ih. price
which the United States i~ paying for
the sso 100. coo or sio.occ.ooo Of gold " hich
1t has contrived to coax back from
Europe. IL does not seem to be a great
bargain for the Americans.
They cannot hope to grow rich on
such one-sided trade. The millions of
| tons - surplus produce they ar throw
ing overheard as u were. in order 10
get few million dollars worth of
the yellow metal. are the best wealth
they have: almost their oaly eNportabie
! wealth. IL can never return TO them
from Europe howeNe. fast the solo
| they ar- getting IN exchange for u
may return To- Europe. ~ - 80 much
uf the muscle and brain "f the coun-
try gone forever. And for what -
many bars of yellow metal. and 81
many BARRELS oi sold coin. not q 1.-THE
OF which - actually needed ~ The
country. either for money az fpr the
4 Industrial arts.
| If gold had bona tie and an siI.c-
| tive rule q" play IN the currency 81 the
! United states. as IL has in the uifrrU ncy
"f the United Kingdom. there might he
some conceivable object ia arcualuiat-
| ing II. though even am"nE ourselves
that Is apt To b. overratrd. BTT IN
| THE UNITED STATES GOLD Is 4
| MONETARY EXOTIC. 1T HAS 4
| VERY LIMITED RANGE OF ClECr-
| IATloN AMONG THE PEOPLE.
| AND 1T - ONLY ONE o. SEVERAL
| IpSSlEi.E FACTORS Is EANk RE-
| SERVES.
| Their" - no natural iudiEputabis
place f,r Il In the working currncy Of
III" Union. IL only "iub"sli~s n tauiai-
izinr and inpracticahi- id-al which the
actual money "f the country has to- try
4" iiNc up to. hut - Ear with very indif-
irrent success. IL th- idcai we've made
practicahl" hy means "f adequate lrE-
| isl1tiau. ur u ITS iuprart .lisiii.y were
/ rc,"guiz'd. ard thc f-u,r - playing
! with u abandoned. the Americans
might NJ last End real ss-atsr from
their monetary dilemma. ~ u is now.
they pay cruel price f"r a sup rfiuity.
which win not stay with them when
they have got IL. ana which rarely re-
| turus To- them of its own accord.
| NlTt'LATIDN. As COSTLY AS 1T ~;
FOOLISH AND AS FUTILE as IT Is
| lNSCKJPjLOtS. THAT GOLD CAN
| BE DRAWN EITHER INTO THEIR
HANKS OR THEIR NATIONAL.
| TlSEASI isN. Their ordinary balance
81 Trad" ~" longer attracts gold O.
them except FOR = month 90 two IT the
most favorable season 81 the year
which they are now enjoying. At the
present rat. cf shipment the surplus
OF bread stuffs and other staples avail.
able for export might easily b. eN-
haus;cd before n third of the season Is
over. and how are foreign obligations
To be met during the other two-thirds'
Since iSs2 the gold movement of the
first seven months of the yesr-Jaru-
airy To June-has been increasingly ad.
verse to the United States. only once
in these five years has the Ioss ur hal.
ance been moderate and THAT WAS
WHEN THE BELMONT
SYNDICATE GALLANTIY UNDER.
TOOK To SAVE THE TREASURY
| BY AN EXCHANGE OF GOLD Fol
| COIN HONDS' OK TERMS WHICH
LOWERED AMERICAN CREDIT AL,
MOST To THE LEVEL OF CHILL