Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-10-29

opeh' Out decline gradually.
and at frs me silver mine owners
could evidently make large nrofit
When, by the coinage OF his bullion
they had deprecated to - cents. his
proht would cease; so that at one
time he could make a profit. and ar
another time we could, and would
have % cent dollars. a little thought
solves Mr.. Bryan's dilemma.
The Farmers Share.
The farmer hopes TO profit by 90
cent dollar to pay off his mortgage at
half its face. How VIII this work?
On the 9Th of November next there
would be no more silver dollars in cir
cuIatlon Iuan today, nor on the 9TH
OF March next, since no more coulu be
coined until after free coinage act
had been passed. Such a law could
not Ge pass-d without the most ues-
perate hs- by me opponents of Tree
silver. The fight against the WIS ID
tarlH lasted ali summer (tilI Au. .st
18TH, 1891 and we COu not reas IN
ably expect this to be less determined,
or that the L.u would become a law
before about September 1St next
Then TO coin 517,000,00 silver dol
lars 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 suggest, it would require
at the present rate Tor treasury notes,
on the special paper required there
for, of S1,250,0O0 a day, over six
weeks, which would bring it to the
middle of October, and these could not
be Issued till SoIl, ,--,-vJ of silver had
been deposited in the treasury which
would require some time, and bring it
to about November LIST, or about
year after Mr.. Bryan's election.
Now as the gold wouIu lave 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 only have 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 val
ues, as we lave never seen before,
and the prOstratiOn and dry rot fol-
lowing the panic would continue for
several years afterwards. Business
activity would not return at once with
restored currency, as credit is a crea-
ture OF slow growth. 1t took six
years to recover from the panic of
1873, and would probably require ten
years or more to recover from this
one.
With new corn at Is cents a bushel
in Illinois, and L. in Kansas and Ne
braska, and with those prices to be
still further reduced by the panic
the enforced idleneSs OF the labOrlng
classes, and the consequently dimin-
Ished demand to and from 10 to 10
cents 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 mOrtagagee want his 100 cents in
stead Of So, and foreclose? Although
foreclosure takes from one to two
years, and would take till November
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
renter.
The outcome therefore for farmers
IN debt must inevitably prove disas-
trOus.
The foregoing are the immediate
enects. In from five TO ten years
hence, after business and credit were
restored, real estate and labor today
worth 81 in gold would again be worth
that, and, if silver dollars were worth
but so cents in gold, they would be
worth 81 in silver, just as they are
worth about $Z today in silver bullion.
| p1Jt thncn OF No
| the silver dollars of today, because not
interchangeable with gold as ours are
They would only be worth half as
much, and hence be different because
deprecated.
AS well might they think to profit
by selling their farm or labor for
francs instead of dollars, because it
takes five francs to make a dollar,
and they would consequently get five
times as many of them, as that by
selling for silver dollars, two of
which make a gold dollar, they could
make profit. All expenses of Iiv-
ing would meantime nave doubled,
and as these advance faster than
labor or real estate (Which always
rise last of all commodities) even
after work was found, wages would
not buy as much as they 40 today
Hence after 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 Dene-
fitted, 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 after
wards prices would be doubled lin
silver.) In this great disaster CAPT
talists could save themselves by buy
ing exchange or foreclosing. The hard
ships and misery would fall upon the
labOrer, and those in debt, that is up
on the mass OF our people, and make
the rich richer and the poor poorer.
Crime and laWleSsnes would necessar-
lily increase, and, driven by hunger
and despair, become rampant. In
stead of more money, which Mr.. Bryan
promised us, we have seen that his
election means money famine for
year and more, and, instead of "pros-
perity for the producers Of wealth"
there would be but losses, hardship
and suffering
In view of these inevitable and
many of them conceded consequences
of Mr.. Bryap's election is it wise to
put him in?
Citizen.
hn picrIof