The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-09-17

at al. Bot will nlrit Coo possible plea that.
a. they sag. tho lct oi isla having been passed
iu sat rUi. people dld ult know anything about
%. and prices romainad moasumhly steady, in
ignorance ~ what dreadful things had hap
p,ned, % so, thrn % wonil appear that, n the
knowing one bad uiiy Kept stIil about it, the
goil dollar tulid hlFe mlle.tly remained
To- cent dollar and nobody would have been
hurt, Bot seriously speaking. 10 may be- said
that when taa act of lall was passed We were
attn using exclusively paper money, that nci'
thor gold nor silver was On circulation, and
that therefore llo decentralization would not
D. folt Very we'll but, thcn. in 100 specie
payments w.rH resumed Metallic money cir
cuiated nrain And more than that. the cry
about "ths crime of i15' rcsoundod in con-
grcss and boo ihe country. Than az last the 80
cent gold dollar bad &C. opportunity. Prices
could no longer plead Ignorance What hap
pencdi In ls.o wheat rose sbuvo the price n
is5a, likewise corn, cotton aud oats In 1851
wheat ruso nFain; also corn oats and cotton.
IN ls2 wheat and cotton declined, while corn
and oats rose The reports hero given arc
those % tho how York market They may
vary somewhat from report of farm prices,
but thry present The rice and decline u prices
with substantial clrrccinCss.
lf. however. thcra d. somebody believing
that in spite Of thaso facts. ths decentralization
. of silyOr by tho net OF 1858 must in some mys-
I torlous way have done something ta depras
pucCs meet lim with thc affirmation that
I the silver dollar was practically domouotizod
l long before is,3 To Judge from iho speeches
I Of our FREQ C1lauro orators, tho American pou.
/ pie must before 1858 have fairly wailowoi Ia
| silver dollars What j. tho faCti President
I Joh,Fs1u stopped tho coinage ~ silver dollar
I in lsG From 1853 to is4s aside from fraction
l al currency which since lsl was only limited
/ legal tcnder-only about SON uul ~ silver dol
/ lars wcro coined. They were s0 scarce that
you would hardly ever seo one except in
/ curiosity shop ns a rare coin.
There was constant trouble with the lCga
/ ratio between foil and silver. which could
not tc so lxod as 90 keep the two metals b.
rother iu circulation once one ~ them wuult
b. driven out ~ tho country and then th'
other. Meanwhile over u.UoWo00 q sol,
coin was clInol nul anoo H.a sold was sub
stautiaily ihr only 100 lestl tender money %
/ actual circulation. And th0so were exccp
u0nlly fr..Htrous .ma.. Then iho civil val
came and sa.I aIl Hur metallic money cut o.
sight pa10r money toof its place. and IN tha
condition wr were iu isia when the famou
SO of l.lI was passed. What. thcn, was Il
reality that llw thai has since been 81 herco
ly denounced al "thr crime cf 1857 Why.
was simply an act revising our coinage law
and providing among other things that certain
silver coins should ho struck o. b. legal tende
IN the payment ~ debts only 90 q small amount
Tho standard silver dollar that had practical
ly been out OF uso since President Joiier
son in i-d hal stopuld H. coinage, was simpl.
not mentioned in iho enumeration. That .
an The urt ~ islg therefore did not create
l nrN STAT ni things, bot simply recognized
| state uf ih.nes which had existed Tor man,
and MANY years lt ava thereby not only no
destroy h4f ihe money u tho country bu
not a single dollar oi &c.
why Prices Have Declined.
But what il 90. tttn that has caused the %
cline % precsf I appeal o. your cQmDo
sau1o. p1 you thirf that when one man. uli
81 by uarAInery, d1ls as much prldu-ilv
work a. formerly tu or more lll. and who
our molera means q transportation carry th
pruliurt lrlm tha pralurrr Oh thu crualms
with fr timUs OBJ. speed 40 on -lfih the cos
and when in the Transmission q inteihgclg
time D. quite aud cost almo.t annihilated.
you think that then the product u huIna
lah0r should not Oh due proportion bccom
caCarcrf n % ti. rat then modern civihE'
iiol wouM n ono g iis most important an
bensdccnt functions o. q flat failure. ~
what b. The inventive r1nius Of the ago thi
dryutls nsan o. practical ohiects engaged {
what else than 80 dsv.s.ng an develupin
] NINNNN" H'|A NI'...N.H NN MHANM ~" HNHlAMH u
I quirol hy mankind f1r tho austcnance an
, comfort % llfe hr ualc hattrr and more oasil
Z atiaiuahlc-that o., choanari
! The farmer in Che United States welcome
. che agricultural machinery which helps hii
. [ in planting, raising anl harvesting bis crol
[ Ho welcomed the RAILROAD, The steamboat, q
!. low frCights. che telegraph, which shortonl
/, thr distance u.twron Dts farm aud the marke
and the banking Arrangements required 9.
\ moving and salling bis product. But o. nca
/. ly an our farm o. bal the same enc1ursr
/, mont. so 20 followed quite naturally that q
|, wheat crop 40 this country increased from
annual avorago uf ai4UOull bushels hctwci
b. $50 aud i,sQ o. nn annual average of f7a Ol
=. oQ bushels between izQ and l,Qi. Rut ai
!, foreign countries had tho encouraging hcncd
= new whoatholds woro opened In Russia ai
/. the Argentine Republic and elsewhere. on
Il according 90 bradsircgts, very compete
4 authority tho wheat product oi the wnr
I, grow from ls'a o. 1894 no less than ta. 90 I
/. bushels. while the worlds consumption D. q
I, timatod 90 increase only i2Oo10O 90 lfu0O.l
a bushels annually. When the increase % q
n worlds supply thus gains upon The incroa
a Of the worlds demand. D. it wonder that
4 the worlds market, which rules the prico
Z. all exporting countrivs, that price should ha
!. doclincdi j. not this an infinitely more
NNMUNA NANINNN ~ Nl NNH NNH'NAllH l NfINaH NI
:, % ascrlho that decline o. the 30 called Z
!, monctization law u is,a which practically q
monctifod nothing hut was actually follow
d, by an Increase % our currency. nearly trohli
n g. volume and making tho ppr capita FAR.
= higher than % ever hal hoon before, and bis
y ~ than V l. iu apy other country except on
a You might as we'll ascrihc our civil war o. {
" great comet ot 1911.
~ our Recent silver Laws.
y Cowod by tne unroarous outcry which v
N started by the silvor miners and taken up
= the "choap money" mon, congress passed. q
=, laws. one iu lsis ihe other in is0, in pur
anco Of which over tsluQoOJQ of silver doll.
!, woro aidrd 90 our currency, mcro than
= times us many dollars as hll ever Doon coir
u before, bosiics "a largo udliuon Co our u
lo sidiary silver coins our paper money v
largely increased .l chat ghue Ia lsia,
year in ah.ch flu american Irople were 3,
,k o. havr uorn r1uhp oihllt thDir money-wh
"a, iu Issl. say, We ltl sliaW0uo0 20 money
u Che Iuiled statos, wn had g. 2li, ,ullO0l in Is
ND nearly throo times us much. and whilo
10 l,lJ tho circulation was tlaW per capita,
y. was t23M por capita IN iSa5-dfty times
y. many silver dollars and many times m'
IN money " an kinds shan this country had u'
Of had iu iD most prosperous days-and yUt
- price % silver in the market kept on falliI
HM NNIN NNI' NNNNN N'N many A'AAINA'HHsAANH HA ~
a. tural staples included. continued in their
IN cunine tendency. Now analyho This ca
bv Upon what ground 40 She silver advocates
he sort that tho s0 cillcl demonstration % sil
en depressed pricosi According o. thOir 81
reasoning, because thuru has NOT hegu suihci
? n money t0 sustain pricos. sustain what rric
ed Thoso prevailing hct D. lisa But there
IN. now throe times as much money as thcro v
M in is,i aud a much hieher per capita circr
IN uon Well what becomes of their argumc
nd some Ut thc slycr philosophers have invcn
,ly mnro mysterious phrase-ihAt prices b.
|, !. gone down booauso hy the act % ls,d the "m
of cy % ultimate redemption had bogn curt
no od. only goli holng available fur this purps
1at But, according o. The treasury statistics,
b. had in isil only tla0Nuo oi coin, inclui
all subsidiary silver in tho country, and now
al have much over toO,VOOoO u gold alone,
% muro than "a Times as much money ~ "nltim
ON reigmr tiun" as lu lS4 And yet prices
m, iw. The man whom such facts DO not {