The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-07-21

to the down-trodden millions of our
nation.
Nv opponents claim that the depre-
citation of silver is overproduction, but
by reference to Nalhall, the London
Statistician, you will find that in 1900
there were 81 times as much silver as
gold. In 1900 80 times as much. In
| 1843, 81 times as much, and in 1870 IS
times as much. Now there are only
152 times as much. This proves that
decentralization is the aus of the de-
prepreciation Of silver. Therefore, as
there are only 158 times as much silver
as gold, the natural ratio is about Is
to1.
Ae a measure of value the ratio has
never been more than Is to 1. France
end the Latin Union for 40 years kept
a premium of 3 per cent. on silver at
the ratio of 155 to 1. If France could
keep a premium of 3 per cent. on silver
at the ratio of 153 to 1, cannot the
United States at least keep it at par at
the ratio of Is to ~ In 1895 we had
Is, $50 failures, making loss of 81, 70O,-
600, 600. Last year there were about
10, 900 failures. This year we had 261
i none week, which, if an average week,
will make over 10, 900 failures for this
year.
Bradstreet's Mercantile Agency says:
"AII business in the United States de-
creased about 2 per cent. last year."
The annual live stock investigation
says: stock declined $62, 139, 900 last
year, or 1922, 663, 900 for the last three
years. While this is true in gold stan
dard United States, the silver countries,
China, Japan, Mexico and others are
making rapid strides in all the arts.
sciences and commerce. In 1892 China
imported from the United States 65,-
600, 600 yards of cotton. In 1898 only
q, 900, 900. A fall eff of 40, 900, 600 yards,
due to the fact that she is doing her
own manufacturing.
Last year factories in Japan declared
a dividend of % per cent, while many
OF those in the United States were closed
and the rest were forced to reduce
wages 10 per cent. to % per cent. to
keep from shutting down. By the use
of a gold standard England keeps Ire
land too poor to resist her expressions
With the use Of silver India was rapid
~ becoming q commercial and manu-
featuring power. but fearful and over
negIs ctful Of the interest Of her col
onies, England closed the minis of
India and brought poverty and disas
ter throughout that land. J. B. Cor
man, Consul to Mexico, says: Mexico
has increased her manufactures in
every branch Of trade" and Senator
Ransom says: "A large amour Of
American capital is being invested in
Mexico, and a great many Americans
are leaving home and going there to
engage in business"
Judge Clark says: Mexico is de
veloptng more rapidly than any other
country upon the globe" To prove
this he says: Wheat is worth 81 90
per bushel, cotton - cents per pound,
and that this IS cents will pay as much
debt, railroad fare, and as much taxes
as it ever did" Thus proving that a
silver dollar is as good Ill Mexico as a
gold dollar in the United States.
Then he estimates that under gold
standard prices the farmer looses six
cents on every pound, $50 on every
bale Of cotton sold, which On 1000, 600
bales would make a loss of 1910, 900, 900
for the year 1895, If 1895 was an aver
age year, then our loss on cotton and
wheat since silver was demonetized
will amount to 50. $50, OOO, 900. Then
think of the loss on all other products
and add the interest for IS years, and
you will have an incalculable sum.
Hon. Judges, with these facts before
you, is it surprising that disaster and
ruin r staring cur people in the face?
All over the country farms are mort
gagged, banks are breaking, railroads
are in the hands of receivers, factories
are shutting down, labor is unem
ployed and the President of the United
States is forced to borrow money to
run the government. These are the
effects of the gold standard. Do you
wish to continue them7
According to official records, the
public debt has increased $527, 1855, 282
during President Cleveland's admins
{ tration. There are to day due England
J 81, 900, 600, GOO in gold. We pay her an