The representative., 1896-05-20
basis country" asked the banker: ut
must be plain that it does"

4uatS IavOrlCe question OF
yours" retorted the banker.
well, you speak of the value OF sill
ver," said the editor: ''silver is one
now. what is the second term? Il you
mean other commodities, it is plain
that, as silver has always been the
unit Of value In India, for instance,
and as the volume hasn't changed
much with respect to the demands
upon it, silver holds the same relative
value to commodities that it has al
ways held. The fluctua tions uf silver
are observable only when sill yer is
measured, or expressed, in gold; not
when measured, or expressed, in other
commodities"
IF the United States valued silver
at the ratio of Is pounds Of silver to /
Of gold, could we maintain that ratio
in trade against the consent of gold
basis countries?" asked the merchant.
Let US think about it moment"
said the editor. sThe agents Of
American, German, and English
manufacturers present themselves in
Mexico. for instance, or any other sill
ver-basis country. Each Of these
agents asks the same price for his
goods, which are of the same quality
in every particular. The piece is l
pound of gold. The Mexican mer-
chant who is to buy these goods says,
AT what ratio will you take silver in
produces silver The agent for the
English and the agent for the German
manufacturer both say. The ratio in
our country is ''32 pounds of silver for
pound Of gold" that is the best /
can do" The American says, i can
use Is pounds OF silver with the same
money effect as l pound Of gold in my
country Is it clear that the Ameri-
can market would secure the order
for the goods so long as it gave bet
ter price for silver than its foreign
competitors would give?"
"That'S plain enough" said the
merchant: ''and it gives me some idea
OF James G. Blaine;s statesman-like
proposition for Pan-Ame ericau silver
dollar to help our American labor by
securing the trade Of silver basis
| countries"
And you all know the miserable
condition of labor in India, China,
Mexico, and other silver-basis coun-
tries." interpOSed the banker. ''And
this is the condition to which this
crank of an editor and Others who IA
you will all RENE mber," said the
editor, "that prosperity is not depen-
dent upon the quality OF money; it is
the quantity of money that controls
the price Of your property, you labor,
expressed in money. When you con-
| template 4OO,OOO,OOO Of population in
China. with total Of 81 IS per capita
in money; India with 255, ,UUO, 900 popu-
lation, and $3,64 per capita In money;
Mexico, 100000, with d total OF $4.91
(gold, silver, and papeD. then you
have as an object-lesson that a vol
ume OF money inadequate to effect
dOmes tic exchanges will produce and
maintain barbarism in any country.
whether that volume be limited by an
insufficient supply of silver or by a
gold basis. Where the money units of
nation have been too few because of
their quality, history records the re-
suit in the past; and any nation thus
afflicted to-day is an Object-les>on to
the student Of the money question. !"
'Now, If you only had a gold-basis is
country, where labor is in such bar
baric condition as in these silver coun-
| tries" said the banker.
Egypt is on gold basis" said the
editor, placed there by the guns OF
the bond-holders, who collect their
never-ending interest under the goad
OF the lash; and its 100000 popula-
tion has per capita Of $16.43. Ii that
is not barbaric enough, take Turkey
| that uses both gold and silver to the
extent of g IS per capita for $4,000 o.
| population"
"As l figure it," said the merchant, t,
| rise in the price OF silver, caused by
free COINAGE would force foreign ma
tions to ship gold to us, no matter
| what its price might be, to pay for
their food supply. They cannot OBJ
tain it without the aid of American
products. America can win ii she
| tries"
You are developing the real merit
in the whole issue,'' said the editor;
land that is, will the American pro-
ducers permit the foreign, gold-money
monopoly, with their BeImouts and
| PierpontS and Morgans, aS American
| agents and political managers. to die
| tate the price of American cOmmodi-
ties? Or will these American produc-
ers of these commodities sink political
parties, and unite to dictate the true
| value OF the very small quantity of
gold in the world which is controlled
| by this money power? We have proved
| the injury OF gold basis, and thus
| de emonstrated the nee .ssity for a
change benticial. 1t is the money
power on one side In conflict with llu-
| manlty on the other side. Money
monopoly initiates the ba nkers' cry of
sound money! and humanity voices
the peoples demand for more money
and less misery
CONTINUED next week).