The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-03-12
PLAINLY STATED.

The Degrading of Silver Has Increased m.
Price of Gold and Lowered That of Com.
mOditIes.
The American in a recent editorial
shows tnat as one nation after another
has closed its mints to silver the da.
mand for gold has increased. its nrica
has risen, and there has been a general
fall in the prices of commodities. IL
says:
'Saurbeck's tables of forty-fve lead.
ing English commodities show prices to
be about 81 per cent. lower to-day than
they were on the average for the wears
lS67-ls77, while tables covering sixteen
of the principal exports of the TTnited
States, taken with regard to imnor.
tance, show fall in prices for the fiscal
year 1895 of 81. So per cent. over nr;ces
ruling in 1873. Mr. Sauerbeck's tables
are substantiated by the tables of the
London Economist, and the general
falI IN prices in LoGdC.s % twentv-six
OF our chief IL. p ), ~ .ch Low oai.
lectively fall of 3o.47 per cent. for
the fiscal year 1895, as compared with
the year 1873
Between 1850 and 1873 the labor
cost of production was falling faster
than since, but prices were not falling
they were rising-and the wage
Garner benefited from improved
methods of production in higher
wages Since 1873 prices have fallen
almost steadily, and the producer has
reaped less and less reward for his in
dustry. The only bright spots in our
Industrial history for the past twenty
years have been when prices were ,is-
ing consequent upon temporary meas
ures to enlarge the use of silver.
The most palpable but far from the
most injurious effect of falling prices
consequent upon the appreciation OF
gold has been TO double the burden of
all debtors and levy double tax on
all production. 1t forces every debtor
to pay more than he covenanted To
pay, not more dollars, but more prom
erty. In 1873 the funded debt Of the
United States amounted to 81. 7Io. .4s2..
$50, now it amounts to S747, 800, 400. but
the same quantity of commodities
which it would take to cancel this an
parently much-reduced debt at prices
of our principal exports for 1895 would
have paid off debt of 81, ,645, 43s, ,4so in
1873. Our interest and non-interest-
bearing debts amounted to some SO. O65..
O0OOOO in 1873, in 1895 to some 81 .05O.-
100000, but it would take the same sac
-ltice of commodities to pay this debt
to-day as it would to have paid s.. 31O.-
600. 600 debt in 1873. As with the United
States, SO it is with our railroads and
other debtors. -
These facts cannot be successfullv
controverted. The rise in gold has
caused lower prices, and lower prices
mean bankruptcy to debtors, ruin to
producers, idlenesS lower wages and
distress among toilerS The Ameri-
can says:
The silver using countries are
placed at great advantage in compe-
tition with us, for they have been
working on a stable standard and
have had no disturbance of wages or
prices With what we look upon as a
fall in silver, prices and wages have
not advanced in silver-using countries,
while with what they look upon as an
appreciation of gold, prices and wages
have not fallen in gold-using countries
RAOPSA iS ulu6FeutG De-
tween this depreciation in silver and
the fall in our wages and prices is
their profit in selling to us. To meet I
this competition is impossible, for we
are handicapped with taxes and fixed I
charges, payable in gold, and cannot
reduce the pay of our wage.earners
without reducing our plane of civiliza-
ton
This leads to increased competition
for our markets from European manu-
facturers, who, no longer able to dis
pose of their manufactured products
10 silver-using countries, seek an out
let in the only remaining market-the
United States"
This is very clear summary of the
situation, and we commend it to all
fair-minded readers. Atlanta Consti-
tuition,