The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-10-28
IF BRYAN is ELECTED.
CONTINUED from Sixth Page

thrown open, but decline gradually, and
at first the silver mine owners could
evidently make a large profit. When,
by the coinage Of his bullion, they had
deprecated to so cents, his profit would
cease; so that at one time he could
make profit, and at another time we
could and would have SO cent dollars.
A little thought solves Mr.. Bryan's di-
lemma.
The farmer hopes to profit by a SO
cent dollar to pay off his mortgage at
half its face
How will this work?
On the 9Th of November next there
would be no more silver dollars in cir
culation than to-day, nor on the 9Th of
March next since no more could be
coined until after free coinage act had
been passed
Such law could not be passed with
out the most desperate fight by the OPP
ponents of free silver. The fight
against the Wilson tariff lasted all
summer (till August 2Sth, 1S94), and we
could not reasonably expect this to be
less determined, or that the bill would
become a law before about September
LIST next.
linen TO coin AOll ,UUU,uUU SILVER
to replace that number of gold dollars
driven out of circulation would require
over eight years. If the printing press
was resorted to as the populists sug-
gest, it would require at the present
rate for treasury notes, on the special
paper required therefor. of 81, 250,000
day, over six weeks, which would bring
it to the middle of October, and these
could not be issued till $517 ,0000 900 of
silver had been deposited in the treas
ury, which would require some time,
and bring it to about November 1st or
about year after Mr.. Bryan's election.
Now as the gold would have been
driven out of circulation, it is evident
that until the coinage bill became a
law, or until September, 1897, or for ten
months after Mr.. Bryan's election. we
would have only two-thirds as much
money as now, and at the end of the
year no more than now.
During all of this terrible year we
would be suffering from such strin-
gency panic and depreciation of values
as we have never seen before, and the
prostration and dry rot following the
panic would continue for several years
afterwards. Business activity would
not return at once with restored cur
rency, as credit is a creature Of slow
growth 1t took six years to recover
from the panic of 1873, and would prob
ably require ten years or more to re-
cover from this one.
With new corn at IS cents bushel in
Illinois, and is in Kansas and Nebras-
ka, and with those prices to be still
further reduced by the panic, the en-
forced idleness of the laboring classes,
and the consequently diminished de-
1nand, to from 10 to Is cents a bushel,
after the laborer has been paid and the
farmers store bills settled, how much
would be left for taxes and interest on
his mortgage? And if he defaults in
either will not the mortgage want his
100 cents instead of 3d. and foreclose?
Although foreclosure takes from one to
two years, and would take till Novem-
Der Of 1897 or 1898, yet as the effects of
the panic would still continue, there
could be but one result the farmer
must lose his farm, and become a rent
ef.
The outcome therefore for farmers in
debt must inevitably prove disastrous.
The foregoing are the immediate eff
fects
IN from hve 10 ten years hehce, alter
business anu crealt were restoreu, real
estate ana lapor To-Day worth ~ II
goid Would again DC worth .llat' ana,
if silver dollars were worth but 50
cents IN golu, tney Woulo oe WORTH %
II SILVER just as they are worth ABOUT
" to-day N SILVER oulilon. but tnose
sHvel uoilais wouiu n.y. We .he si,se
III. -, - I've. 80
se9oI w..
lsy 49, 49, s,seo,,sn+ ,,aaa,,ao
za-,,ao;etaa
r. - -, -, 49,, +,,,,,, - rost b,,
~, ~ =. ~ - 81, e,.a ~,
. sl.is ~ 1.,,a ,,aa.,.sss - 49, er-a
.i9eoe'A - $3.50 o.-,- 80 49,,
ans " Ne a. u ~ a., '. 4,, ~
WIN ooiiaea 81 ~ -
liiy ,A,,a - -,.,.yas -, .
era1s5 do11or tbav could make a nrofit
A., ayrarsas IF li,,ino, would mean
+;,,,a hove doubled ana &C tbese adj
,r.,,,a fas+o,. +ban 1abo,. ~, raal estate
lu,hsob a1waus risa act Of all commo-
s;+;osNa,ro,, fta, ,,,orlr woe found
80 ~. ,,,o,,,d not Inv as rnncb az thew
- n aa,, IIanoa af+er savara suffar.
~. y, ~ r+art ord aftar low wa oas
80 hirh n,.ices for nanv wears the la
80. 4zsa,,Id he No better off in The end