Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-07-21

which is given to Mexico through the
coinage laws of its country. Judge
Walter Clark of the supreme court of
North Carolina went to Mexico last
fall and remained there until about
the first of June. travelled extensively
through the repub bic and in four con-
secutive numbers of the Arena gave
articles of great value covering the
description of the country, its people,
their progress in manufactures, in
building railroads, and in the gener-
al development of the country and its
resources in agriculture and the arts.
No sane man will claim that there
is gold enough in the country for its
business as circulating medium am
ong the people. The Ba K r. Maya
zine, gold standard advocate, pub
lished in New York city gives the
bonded indebtedness of the United
States as follows:
State and IL u licipal
onds....."...................$1, 1856, 900, 900
Mortgaged street rail-
roads, business corpo-
rations and business
property..."................... 5000, 900, 900
Total $11,735, OOO, 1000
The interest upon this sum at per
cent calls annually for $3.50, 75O, 900.
This is the sum which must be paid
annually to the money lenders of Eu-
rope. The director of the mint claims
that there is in the treasury, the
banks and among the people $780,
$1,000 in gold, but the better opinion
seems to fix the sum at about $40
900, 900. If the latter is correct then
the money lenders of Europe can cart
away every dollar of our gold for in
terest, and if the mint statement be
the correct sum, there would remain
but 1926, 900, 900 for the business inter
ests of 70,O00,000 people. To obtain
it for the next annual payment, bonds
must be issued which will increase
the interest to be paid or else the
products of labor must be still further
reduced to make the Investment in
our fabrics and products more proliua-
BILE than can be if else where invested.
This is the situation that confronts
the country.
The CO untries Of Europe interested
in forcing the gold standard upon the
debtor countries of the world
produce less silver than they use in
the arts, by nearly ss3, 100000. Aside
from this they have to supply and
maintain their subsidiary silver coin
which is the money in use among the
people in all those countries. Their
supply Of silver must be bought from
the United States and the other silver
producing countries of this continent,
hence must take it at the price these
several countries fix upon their pro-
duct. Mckinley and those who agree
with him propose to continue the
present rate of half its coinage value,
while the supporters of Mr.. Bryan
propose to make its bullion and coin
value by giving it the same access to
the minting privilege with the legal
tender quality accorded it from 1892
to 1878. The opponents of coinage
ask how the people are to get any
benefit from this, or how would it
give them any more money!" If the
farmer sells his products for more
money, his wheat for $l.OO instead of
so cents, his horses for $4,000 instead
of $50. 90, that would give him more
money and every dollar would be
just as valuable in paying all the
fixed charges such as taxes, official
salaries, and debts as the dollars paid
him at present prices.
But the gold advocates attempt to
frighten the people with the bugbear
that the holders of our securities will
rush them into the United States for
immediate payment which must be
met to avo!d-repudiation and dishon-
or. To this we'reply that our bonds
lieiQ III IuIOpc Iul lFOul 20 TO OU years
to run and the only demand the hold
ers can make is for the annual inter
est as it may accrue. If they bring
them here to sell to our bond specu-
lators, they may buy or not as the
transaction seems to warrant profit
for the investment, no one will be
compelled to invest u dollar in bonds.
But the gold advocates tell us the
silver of the world will be dumped in
to the United States with free coin
age. This is improbable because no
gold standard country but requires
ali the silver it possesses as coin for
small transactions among its own peo-
pie, beside they coin their silver at
higher valuation than in this country
hence would lose the difference. But
should the silver Of the world come
to us as bullion to be coined into I'm
tied States money it will be for use in
this country in the purchase of pro