The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1896-05-01

nearly every Other Dranch OF commerce
in proportion. It is only a question
of time when all her spindles and looms
will be silenced.
What has been said of England may
be said also of the United States or any
other gold standard country, unless BIZ
metallism be adopted.
characterization of silver is RESPONSE
bic for this loss Of prestige.
1t is easily enough seen why silver
standard countries prefer to trade with
one another; and when silver is de-
monetized by any nation that nation
Immediately begins to lose her trade.
To cite a suppositious case that may
be made applicable to ourselves. Sup
pose we were to have our gold dis
counted at the rate Of 100 per cent by
the silver standard countries. Would
we not at once seek some gold-standard
u gold might be taken at par? Re-
verse the case. and the present situa-
tion Is explained.
AS have said. they sell the a
featured article in a gold standard
country for gold, and for gold alone.
They take away nothing but gold.
This is one reason, and a potent one,
why gold is disappearing from the
United States. This gold is shipped to
London and is changed for fifty cents
on the dollar for bar silver, which is
aiken to China and Japan, coined and
put in circulation among their own
people, where, at it's coined value, it
Is as good as gold, and has the same
purchasing power.
The gold then goes into the vaults
OF London only to come back to the
United States to purchase our bonds at
a high rate Of interest. The London
bankers take In exchange our silver at
fifty cents on the dollar, they having
contracted far into the future at that
price. knowing that the production of
silver Is running short.
It may readily be seen why nations
having q silver standard do rot care
to Join the gold standard nations In
international b%imetnllls1n.
At present they make a profit Of 100
per cent upon every dollars worth Of
gold they exchange. but II they Joined
In international bimetall!am. thew
would be compelled to take In ex-
change for their manufactured articles
our silver on a parity with gold. there
by depriving themselves Of the hand
some profit they are In the habit of re-
alizlng, for they would have to pay for
our silver 129 29-100 per ounce. This
would leave the gold In our country
IN there would no longer be COM
plants Of a depleted treasury and a
diminished gold reserve fund, and no
need OF further issues Of government
bonds.
Then, too, they would purchase our
raw material. for there would be no
discount on their silver money: but at
present, as we will pay only fifty cents
on the dollar for their silver, they will
not puy OF US, preferring, naturally. to
dea! with some silver standard country
Where their silver is taken at par.
Ihls proposition appears to, me an
simple, so plain, so capable of but one
solution that it is a matter Of wonder
ment to me that u so-called states
men and hnanciers should hesitate
concerning the course to pursue.
II this condition of affairs is to con-
tlnue; IT our silver is to be used in this
manner; If we have to compete with
the cheap labor Of China and japan.
what is to become of our laboring
class, of our farmers, Of all our in
dustries?
There is only one remedy for all this
n the sooner it is applied the better
it will be for all classes of people in
the country, and that remedy is bimet-
allism.
b u of the trouble is the do
monetization Of silver, which occurred
in 1873, and the deleterious results
have come upon us so gradually that
we have lost sight of the cause in tho
effect.
When the people realize hat the do
monetization Of silver is the real ca1sa
OF the hard times, they will demand
with their votes, the free coinage ~
silver on a basis of 16 to 1, and when
That time comes, as come it must then
will the tide of depression turn ana
Tow IN the direction of prosperity.
Congress appears determined to d.