The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-11-19


The competition of Europe is Insignificant
as compared with the existing threatened
competition of Asia. believe that the true
policy OF the country is combined tariff and
silver legislation-the one protecting us
against Europe, the other against Asia.
HAS not the recent rise in wheat explo.
ded the theory that the price of wheat de-
pends upon the price of silver"
"On the contrary it proves it, just as an
exception proves the rule. Our wheat has
suffered in the Liverpool market from the
competitive wheat of India There prices
for domestic property and labor have been
for twenty years or more staple in silver
The Liverpool merchant has bought our sill
yer from our discredited mines at half its
old value and has used it at its old purchasing
power IN India for wheat This forced our
wheat down as the gold price for silver fell.
This year the competition of India is reno
we'd by reason of the failure OF the Indian
crop. So up goes the American wheat
Meanwhile, the demand Of the Liverpool
merchant for our American silver with
which to buy Indian wheat has fallen of,
because there is no Indian wheat to buy.
So down goes the price of silver Restore
the normal crop in India and the old compe-
tition will be renewed and the gold price
Of silver will again regulate the value OF
American wheat"
"How do you account for the defeat of
the Democratic party"
"Well, think that many silver men who
are also protectionists decided in favor of
settling the protective question first. 1t is
true the Democratic party in their platform
tacks on the tariff, but the language was
not very clear and the abandonment Of free.
trade tendencies was not clearly indicated
in the canvass ! believe this country is
fully determined upon protective policy
Then again, there We're too many issues in
the Democratic platform. The silver ques.
tion was the crucial issue 1t was mistake
to add other issues which would divide the
friends of silver. Multiciplcity of issues
results only 10 division OF strength Mr.
Bryan made mastery campaign, and, in
my Judgment he would have won had it not
been for these unnecessary issues, which
handicapped his candidacy, furnished pre-.
texts for misapprehension and abuse. and
really divided the triends OF silver | be.
leve that this country is for bimetal4m, by
independent action ii necessary"
"Do you think there is any chance OF an ia.
ternational arrangement
Not much, il it is confined. the Re-
publican platform declares, to the leading
commercial nations England France and
Germany (which also are creditor nations
The gold of the world is estimated at
S4, 900, 000, 900 all Of which can he put in
solid cube Of twenty two feet. Our mint
actually located in England, France and
Germany. 1t seems TO be absolutely essen
tial for their local exchanges, for whenever
few million dollars extra are exported,
they raise their rates of discount in order
to keep the gold in. So the other one half
is all that is left for the vast areas and vast
populations of the rest Of the world; and
/ is eilectually tied to these creditor eoun-
| tries by the strings of bond and mortgage
so that they can recall it whenever they
want through the sale OF the local securities
/ of debtor countries. do not think the
creditor classes, controlling, as they do, the
legislation of these three creditor coun.
which they have through the corneriug of
gold You cannot expect the beneiciaries
of the gold monopoly to voluntarily relax
their grip on the productive energies OF the
world.
1T is possible that the raising of our tar
4 itf wall might bring the manufacturing clas
ses Of those countries to our rescue; for,
before the Wilson bill was passed, they
were agitating the restoration of bimeta.
lism in order to stay the disastrous competi-
tion of Japan, India and other silver couu-
tries, whose markets they had hitherto con.
trolled The passage OF .he Wilson bill
substituted American markets for the Orr.
eutal markets, which they were losing, and
so these countries have had cipch upon us,
both as to finance and manufacturing But
this process of education must be very
slow one, and meanwhile our country must
suffer more than any. From an information
al point of view, the countries with which
we should treat are the debtor or producin.
countries, where there is deficiency o
money and great absorbing capacity 70
new money. II we want to increase thu
use Of silver We should go to the countrie
which have a deficiency, not plethora o
money, Just as we would do if We wished tt
increase the market for wheat we would ar
range to send our wheat to the coautrie
, that had deficiency rather than a surplus
The great trouble with the debtor couutrie
ia that their monetary legislation is con
troled by the creditor countries, and i
order to bring about monetary reform 1t !
necessary for this country to take courageou
: and independent action, such as Bismar
suggested. There is not gold enough in tn
world to do its business. BY our inancis
legislation we are increasing the value {
} cold and diminishing the value of our prop
erty and products. The parity we shoul
seek to restore is betS gold and propert,
We can only do this by destroying the gol
!, monopoly, aud this eau only be done by II
storing the competitive use of silver Wh'
we neeed is courage; We have the power