Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-10-12

pie. II am In reality advising them for
their good and serving their true interests
Those above all others in the land who
should today be on their guard against the
silver movement are the laborers of Amer
lea.
But will not the farmers be benefited?
VIII they not receive q higher price for
their products? May be a higher price. but
not higher value. OF what use is 1t to have
a dollar instead Of q half dollar II the
dollar can purchase no more than the half
dollar? And will farmers receive even
nominal1y a much higher price than they
do now? The best market Of the farmers
product in his own country. And II his own
country Is impoverished. II factories are
closed. II laborers In cities are penniless
the farmer will receive but little for his
harvests.
Men on salaries will scarcely hope to
have their salaries doubled. even nominally.
and then their salaries such as they may
be. will have only half the purchasing
power they have today.
Those who owe debts payable-principal
or fnterest-in gold will receive the same
salaries as today. and their salaries will
have but half the debt-paying power which
they have today.
"But-and here is the popular argument
In favor Of free silver coinage-we have
That is true, and what is also true is that
under the silver standard we shall have
much harder times.
'It is the great fallacy Of the day to be
standard. The craze for free silver as q
cure for hard times Is applicable on the
same theory that a man who has been .
long time sick, despite the attentive care of
expert physicians. will call for any quack
who advertised to cure all the Ills Of
humanity.
Cause of Hard Times.
Hard times have come through the
severe and resistless working of economic
laws. which go their way in spite Of legal
enactments Of parliaments and congresses.
Good times may be expected to come back
surely. even II only gradually. The over
production that giutted our markets has
been used up. capital liz anxious to do
something with its money II 1t can be in
vested safely. our wondrous natural re-
sources invite investments to develop them,
| and. confidence restored. the outlook is
| bright. But the essential thing is conf
dence.
II may, Of course, be mistaken. But ]
| ton as the great test Of universal suffrage
and popular sovereignty. Can the people
| defend public honor and the institutions of
the country at the polls as they have done
on the field Of battle?
1.-The only men benefited. and they are
| few today. and 1t Is scarcely worth while
to bring around a revolution in the country
! to benefit them. are the debtors, who nave
| today gold on hand and who. by free sill
yer coinage. will have their store doubled
in nominal value. and will be enabled to
| reduce their debts by one-half. And tc
| those the question remains If 1t is honest:
1T is a delusion to imagine that silver
will circulate plentifully that it can be
had easily by all. and that the quantity
| will make up for the lack of value. If sill
| yer bullion does not increase in commercial
| value silver will not be produced in guam
| titles, and owners of silver will not part
| with 1t except in exchange for commodi.
| ties or labor which they deem useful and
valuable. If the business of the country
| Is not prosperous, the people will get very
| little silver and obtain no profit from free
| mintage."