People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-07-02
"Jam sar from denvino thar n tha Jtal,sn

disturbance OF values for the time. But is
it likely that such proceedings will be
taken by rational statesmen apa rational
pArliamentsf 1t is really too absurd to
suppose that any country will insist upon
having q gold currency at any cost"
Alas for the fsllihility Of genius Even
JevOns could not forasee that so many
parliaments would prove irrational, and
that great countries should DO 20 sInitten
Of the gold standard hsadvocsted as 70 pay
their lifeblood for it.
But no prophecy Of economic effects
from observed causes has probably ever
been made so unique and stsytling 10 Its
insight and accuracy as that Of Ernest
Seyd, the famous bimetallist who In 1871
wrotei at is great mistake 60 suppose
that the adoption Of the gold valuation by
other states besides England will be bene-
fetal. 1t will only lead TO the destruction
Of the monetary equilibrium hitherto ex.
isting and cause fall in the value OF sill
yer, from which England's trade and the
Indian silver valuation will suffel more
than all other interests, grisTous as the
general decline Of prosperity all oTef the
world will be. The strong dootriDism ex
isting in England as regards the gold val
uation Is so blind that when the time Of
depression sets in there will be this special
feature-the economical authorities Of the
country will refuse to listen to the oahse
here foreshadowed; every possible attempt
will be made to prove that the decline Of
commerce is due to all sorts of causes and
irreconcilable matters The workman and
bis strikes will be the first convenient tar
get; then speculation and oyertrsding will
have their turn. Later on, when foreign
nations, unable to pay In silver, have re-
course to protection; when a number Of
other secondary causes develop themselves,
then many would be wise men will have
the opportunity Of pointing to specific
reasons which, IN their eyes, account fCr
the falling of In every branch Of trade.
Many other allegations viii be made, to-
tally irrelevant to the main Issue, but sat-
isfactory TO the moralizing tendency Of
financial writers The great danger Of the
time will then be that among all this COD
fusion and strife highlands supremacy In
commerce and manufactures may 90 back
ward to an extent which Oannot be re-
dressed when the real cause becomes recog-
nized and the natural remedy is applied. /"
Nothing could better show on vbst Just
philosophical principles bimetallism rsts
than this piCtuVe In 1871 Of events 10 begin
with decentralization In 1878 and continue
until now and as much Longer as we shall
permit. If the test OF science is prediction
and yerifcation, surely the evils Of gold
monometallism ore scientifically oon-
demned.
Just before the monetary conference at
Brussels, In 1892, the late Dr.. Soetbeer,
the eminent German philosopher, wrote,
fOretelling the CatsOlysm OF the year 1893
and subsequent evils;
II fear that II the English government
ON the occasion Of the forthcoming inter-
national monetary conference, should re-
fuse TO submit or support practicable prop
oSitions destined to extend considerably
the use Of silver rs legal tender there will
probably result a further inCalouiable de-
probation in the value Of the moths and q
very serious appreciation Of gold, followed
~ disastrous consequences.
Yet sir, msp VIII persist In referring
the fall Of prices since 1873 10 the multi.
piioatten Of inpeCtians and 10 cbeapeDed
COST Of production ID b no inpugnment
Of my argument 30 admit that this may
account for relatively small proportion
Of the fall. Bot SIR 1t Is o very small
PROPORTION. Between 1850 and 1878 prices
gradually and generally rose fact melody
will dispute, and yet assert with pertec,
confidence that between those dates great
81 Improvements In productive prooesseA
compared with tho condition at the begin
ming OF the period were made than BE-
tween 1873 and the present time
Gentlemen cannot have forgotten tbt
marvellous mechanical exhibit al The cen
tsnnial exposition, practically al Of which
related to the period In question.
BY far the greatest amount Of this 60
oomplishmeDt belongs, 50 Tar as Its oon
mero!al and productive aspect is'ooncerD.
ed to the pariod from about 1850. By
that time the steam engine bad been per
fected The old Newcomer engine Of lac
with o duty" Of 6, 600, 900 foot pounds pc,
one bushel Of Welsh GOAL bad Developed In.
to the improved Cornish engine Of 1850
With duty" Of 10000 900 foot pounds.
The factory system had come Into gs
temstic operation-tbs greacest revolution
In production In tho history Of industry
30 that when England. shoos 1850, chang
cd the tariff policy under which she had
grown great and started ont TO fmpose tes
trade upon the world IL h estimated that
her labor saving msohiSsEy represented
The capacity q $50 900 900 palm q buDeu
hands .-.. I.........
History II Ipawsry.
In AgricultuBthe p4od IN question aw
the perfection Of the pillow, the seeding
machine, the grain driu and the moving
machine. The first successful reaper wa
McCormick's, invented In 1894, improved
In 1s47 and first aetrsotine general atteff-
ton OF the London worlds fair Of 1851,
where It took tho gold media, and from
which time 1t came rapidly Into use Be-
tween 1851 and 1876 nearly 1000 patents
were taken out IN this Country alone for
haryeters and thesr sssoobmsuts. The
thrasbing machine was brought 10 perfec-
ton in 1863 The self binder belongs 10 q
later period, but fos effect and that Of tn
provements on-ebe Inventors Dsned had
nothing like the significance for agsloul
ture which the devices that came In from
1850 to 1873 had. To this period also be-
longs the beginning Of scientific sgricul-
ture and the use Il imported and manu-
featured fertilizers on large scale the
systematic and eenefel breeding a cattle
horses and shfp and The lnalsutssioD and
considerable dsvelopnaDt d the cheese
factory system,
| In manufacturer n IL slfficiar,k m nama