San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-10-31

AS unemployed laborers could bu,
neither food nor clothing, the dimin
ished demand would cause the prices o
grain, cotton and all farm products t.
fall, as is always the case even in small
panics.
Of course all mortgages past due or il
default would be Immediately called in
and if not paid foreclosed and the mort
gageors largely wiped out.
1t is needless to say that there would
be no money to loan, for who would
lend 100 cents, or even 95 or 90, in order
later on, to get back but 81?
The farmer hopes to profit by 81
cent dollar with which to pay off his
mortgage at half its face.
How will this work?
On the 5th of November next there
would be no more silver dollars in cir.
culation than to-day, nor on the 5th Of
March next, since no more could be
coined until after a free coinage act had
been passed.
Such law could not be passed with,
out the most desperate fight by the op-
ponents of free silver. We could not rea.
sonably expect that the bill would be-
come law before next September.
Gold would go out, but no silver
would take its place. Financial strin-
gencywould existfor nearly year. Dur
ing all of this time farmers would have
no crops to sell and could not get much
of the cheap silver money. They would,
however, be paying silver prices for
everything they have to buy. They
could not easily obtain money with
which to pay debts, and mortgages
would be foreclosed by wholesale.
Business activity would not return
at once with restored currency, as
credit is a creature of slow growth.
The outcome, therefore, for farmers
in debt must inevitably prove disas-
trous.
As we'll might farmers think of profit
by selling their farm or labor for francs
instead of dollars because it takes five
francs to make dollar, and they would
consequently get five times as many of
them, as that by selling for silver dol
lars, two of which make gold dollar,
Iney could make a proht.
All expenses of living would mean
time have doubled, and as these advance
faster than labor or real estate (Which
always rise last of all commodities),
even after workwas found, wages would
not buy as much as they do to-day.
Hence, after severe suffering in the start
and after low wages and high prices
for many years, the laborer would be no
better off in the end.
And how would the farmer be bene-
flied if, starting in debt, he had in the
process lost his farm?
Mr.. Bryan claims it is inconsistent
to say that free silver coinage will cause
disaster, and also that it will double
prices.
But a little reflection will show that
first we would have a panic, which he
admits, and afterward prices would be
doubled Tin silver).
In this great disaster capitalists
could save themselves by buying ex-
change or foreclosing. The hardships
and misery would fall upon the la
borer and those in debt-that is, upon
the mass of our people-and make the
rich richer and the poor poorer.
Crime and lawlessness would neces-
sarily increase.
Instead of more money, which Mr..
Bryan promised us, we have seen that
his election means a money famine for
a year and more, and instead Of pros
pe1ity for the producers Of wealth."
there would be but losses, hardships
and suffering.
In view of these inevitable and many
of them conceded consequences Of Mr..
Bryan's election, is it wise to vote for
him?