The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1896-05-30


reserves, either by the government
, or by banks, to sustain the pap,
money of the world. Now, it is o
vious that ii any of the silver or bime
tallic countries should leave the the
standard and go to the single gol
standard. the demand for gold woul
be greatly increased, and the value {
gold would rise correspondingly
since the silver basic money and re
serves would have to be replaced wit
gold. This was just what happene
between 1873 and 1893, when th
United States and France and til
other states of the Latin Union wen
to the gold basis, and India closed it
mints to the coinage of silver. Th,
Cured. Gold went up, became scarcer
and its purchasing power increased
under the stimulus OF the increased de
| mand fer il, as reserve and retlemp
ton money. And since gold wa.
| made the standard of values, the price
| of property as measured ia that gold
| went down. That is, ii takes more
property to buy one of the dear dollars
now, than it did when they were not
so scarce and high or the demand Tor
them so great. Debtors who had
plenty of property to. pay their debts
before, did not have sufficient to pay
them now that it took so much more
to buy dollar. The inevitable re-
suit of bankruptcy and ruin followed:
aud as one businessman after another
fell before the constantly increasing
fall of prices and rise of the standard
money, the panic, with its dire results,
swept over the land.
"As yet there are no signs of any
relief from the distress. Indeed. thel
is every prospect of greater disturb
ance and ruin to come. The in
creased demand for gold has lifted it
away from silver, so that the silver
money, which previously helped the
gold to hold up the paper currency, is
now no longer able to hold itself up to
the enhanced value of gold, and it,
like the paper money, must be held up
to the unnatural value by the gold it.
self. So that the small amount of
gold which formerly had the help of
silver in holding up The paper money
must now hold up all the paper money
by itself, and must also hold up the
silver money. This is too much for
the gold supply, and the result is
constant run upon the gold reserve of
the government, and necessary sue.
cession of borrowing of gold by bond
sales, to hold mp the silver and cur
rency, is the result. This cannot go
On long without government bank
ruptcy and ruin, and must result finally |
in q contraction Of the currency by
portion of the circulat-
ng medium. This inevitably means q |
'urther fall of prices and further ruin.
"This can only be averted by re-
urn to the bimetallic silver standard
n our domestic affairs. This will
,ring local values back to where they
we're before. Silver will be brought
nto general circulation as primary
money, and under present conditions
will become the practical standard of
'alues. In the meantime the demand
or gold as basic money will be
argely decreased in the markets of
he world by the withdrawal of our de-
nand. Our government gold reserve,
nd considerable portion.Qf private
old reserves will be freed and forced
ack upon other countries. The fear
f a gold panic will be allayed, the
cramble for gold will cease, the price
[ gold will CORRESPONDENCE fall in the
larkets of the world, and the price of
even measured in gold values,
ill rise. 1t will not take so much
roperty TO pay even our gold debts,
nd many who are now bankrupt will
9 able to pay up and have something
sft. With the rise of prices, the pro-
Is of business will increase. Enter
rise will be stimulated, new UNDER
lkings ventured, and the present ruin
i'll be replaced with a measure of
son the question of tariff, wa-+ =
nderstood that am not prote tom
t, nor am l Deliver in Cleyelauu >
lea of free raw materials and protec-
on to manufactures. We will not
ave the doctrine of protection to the
and free raw material.
is a little too much to be put down
lr Western. democratic throats.
nd so say that while ! do not be- .
eve in the principles OF high protec'
on, yet ut the same time, so long .
we must have tariff for revenue,
, not see why there should not be ,
ir, reasonable, revenue tariff upon ,,
ool and fruit, as we'll as upon the
of the east; but beyond
lat, to take something out of the ,,
ockets of the farmer, for mere pro-
ction's sake, do not believe in it.
nd 1 ask you, my farmer friends. how
, You like it?
81 have no unkind feeling towardany
,otion. In my heart feel nothing t
ut love for all this broad, fair land t
ours, from the North to the South, ,
ON the East to the West. love the
,nny South, with its chivalous people.
love the green hills and puritan !
ONES of New England. love the
reat empire state of New York, with
8 vast commerce, and its harbors {
otted by thousands of sails of every {
alton under the sun. love my own 7
ative state of Iowa. with the broad
rairies that surround it. But more
ian all and above all, love the snow G
ad peaks. the broad rivers. the s
aautiful valleys and the fertile plains I
this our own beautiful West-my .
Iopted home. This land where I
ave lived amongst you and your peo-
le for more than thirty years. This I
md where the feet of my youth have
'od, and where manhood's paths still
g :. This land where my little ones
ere born into the worlo, and where .
xpect and hope to see them grow up
ITO happy and prosperous future,
ne land where lies buried all the hap
lest and best memories of my past.
his land where my neighhors live,
hi land where l expect presently to
ass my prime. and go on down through
1e sunset of life. The land where at
lst will rest in that long, long sleep {
lat knows no waking. More than all {
nd above all. [ love it, and say, now