Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-06-11
TnR OUTLOOK roR sIsvsR.
4 Well Writtsn Article BY an Eminent and
Unprejadice Authority.

~s@AeAN tSO4AAS ~ VIVA WIZ way Va H0IuOGsAs
We owe our thanks to the North
American Review for being able to re.
produce it:
A Thirty years war, or very nearly, has been
waged over, the equal monetary rights OF silver
and goid-s war as fatal in its consequences az
the religious war Of the seventeenth century.
ard won 70 first and decisive bictory. II today
aiss. thirty .n.1 :. look back Or those
made In this respect were erroneous. The lrst
and foremost object was TO attain unity Of stand
ark through the gold standard; instead Of this,
differences In money value such as never existed
before. The principal that y fixed ratio Of values
between the two precious metals ID possible was
House Of Commons unanimously declares tha1
the government should do everything In its now
er to obtain and secure . fixed ratio between the
II the nations could live the past thirty years
over agaan nth the the. experience gained Sin 9
Sc on thS oontrsry would stsra
TO stregthen the dOublee standard Of the Iatin
Monetary unien, which secured the worlds COM
merce the stability 81 the ratio Of values and the
the greatest fluctuations In the production II
certainly does not speak we'll for the gold stand
ard that everybody nov regret; that the warn.
years ago. were NOT heard, which predicted the
grave economic crisis as the consequence Of the
confusion 70 reward 70 the money standard.
consisted In this. that In the opinion Of one
school, the French double standard maintained
itself 70 long e the price Of the precious metals
correspondent to 1t. while In the opinion OF the
other school. the market price Of the precious
metals correspondent to the French double stan
dard 80 long as that standard was In operation,
proof. II there ever was fact irrefuta6iy dem
Onstrated It Is this, that the depreciation Of Sill
YER was tine consequence Of . change in the
questioned after Witnessing the consequences Of
the closure of the Indian mints. The evils Of
the silver depreciation are everywhere recog-
impression prevails which Prince Bismark on
one occasion voiced IN private conversation:
I'VE have got into swamp with our gold stan
worst Is Sas We are getting DEEPER Ser snd eeps
into the swamp and that its becoming harder
and harder TO get out
theory had not been thrust to the front the So sO.
urged on the late Dana Horton and Henri Ger.
se my e s ~ x9 w
states: By their Perverse monetary policy, made
When frst Joined in the battles OF the stan.
dards, in lS8O, tried to show that the interna-
tiOnal double standard does mot presllppOsc the
participation Of England, but that on the con-
many. France, and the United states II they
adopted bimetta!ism without England. Either
2 fixed parity between gold and silver would
no advantage; or gold would remain ut q pre-.
MUM, and then England would be the land Of
the highest money value. 70 which every one
wSa Sa thus Ss Inevitable. nor economic decline
About 1885 secured the acceptance Of this
years the German bimettallist party strove, un.
fortunately without SUCCESS, to realize the pro-
gra,nme: Bimettallism without England, in
the United states. II In 1885 We decided TO rec
Ognlze the participation Of England aS an indi-
spendble prerequisite 70 the adoption OF the
oopas Ve ~ Sad y
but because we recognized that We made no
hesdway with our former programme: + the
silver price had declined sttl! more. Or Il the de-
1855, had continued still farther, the mainte-
names of the gold Standard would have boon
Impossible. Put re gold production unexpect-
the situation became more endurable, especially
for commerce and industry. "A respite Was thus
created for the gold standard.
it, present hgure no one can tell Ibelievo With
sooner Win tie end be reached In Che sa me
esn es xS. ss P: live. di os
weeks henoe win be quoted at Is pence. 81 pence
or 06 pence Every f.lctuatiOn Of the silver price
standard. II the silver price 10 rather stable or
slowly rising, - happenl to be the case It this
moment, certain circles feel deaf Of reassu sur
such conditions, until . sudden and great fuctn.
alton once more shows the unfenable characfsr
Of the present situation.
srodaced d conceivable But that Il = p Is ~
Cally Impossible to obtain the gold necessary FOR
that purpose, ID today admitted BY the most In.
ys :s sGs %sn X The pc
only for his country. In London the eayin9 Il
thai England must adhere g ne gold standard,
Css 81 sas .o ys . %SSa e os fS that s
the gold standard man OF Germany wishes %
have hts country " agreement with England
on the money standard Austria Hungary does
nor Rumania from that of Austria Hungary: and
thus the present state Of affairs NECESSARILY
leads 2 &c ,sxtsnsion q he GOA
s danseroas and impossiSie. One I iaed
ts@pss 70 Introduce the gold standard, ana Is.
condos IL the case q o rnsd re spsc
ees. but Il b the rule with Oh debtor countr1rs.
mo attempts made n Russia and Austria.
esd 6 10 other result than tie one oSssined h
dow ut q he country; and tSe tst nntcwSrd
.s.s s. shs sne rs ss:l e e. a So
$500 has thus tar escaped nas money. & d
sclely owing g the increses q the gold produc.
@ oR ses sSs Y g. SS:9 *sS sc
The 80 new! form the !Transvaal and non
!aeattona q BIitish Ministers. II ) crash d
iroa O. reports 81 Snia1 coane,icr sch ss;ls,
q. e s = tTne that q the TfansvSsi thss cima,
Sftae - prodScsion b. alrsedy been pas.ed