Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-08-27

money OF the land is increased enough
to measure the increased wealth an(
made to keep pace with the increasing
wealth. We claim that silver vii
nearly accomplish this, i'll not exactly
1t is an axiom that the scarcer money
is the lower the price of commodities
The producer cannot succeed upon
falling prices. We suggest free coin
age as a remedy. Will you state what
the remedy of the gold men is?
This is pure prophecy. No one can
say whether prices win continue to
fall or not. That they will never fall
so low as to beggar the producer can
safely be asserted. If some kinds OF
industry are unrcmunerativc, enough
will abandon it in favor of some other
kind to check the downward tendency.
All branches of business will move to-
gether and all products will decline
uniformly in price so that one mans
products will buy as much of another
mans as it ever did. Again, lower
prices does not always mean less prof.
its. Cost of production is constantly
declining, on account of improved
processes, and consumption is increas.
ing, SO that the producer can afford to
sell lower and lower and still retain
the same profits. 1t may require more
bushels Of corn or tons of hay to pay
for $1,000 farm 20 years hence than
now but if it does it will be because
improved methods of cultivation have
cheapened the cost of their production
The buyer would not have to wait un.
til the end of that time before begin
ming payment but could pay gradually
and any increase or decrease in the
purchase power OF dollar would
scarcely affect him. There is more
"money of the land now than in 1873,
more actually and more per capita.
Low prices now are certainly not due
to a contraction of the currency for
there has been no contraction. The
free coinage remedy" would be worse
than the disease. which is not half so
bad as it is pictured. The gold remedy
is Stop agitating free silver; let CON
iidence return; let money again 90 out
into industry without fear Of being re-
paid in deprecated currency; let bust
ness resume its wonted activity; make
the governments income equal to its
expenses. Arguing from our expcr-
fence under many years Of this policy
up to 1892, the Republican party has
no fear in again prescribing 1t. What
ever decline in prices might then follow
would be only from natural causes and
would burden nobody.
What ! have written above is admit
ted by all and voiced in the platform Of
the Republican party in its declaration
for international bimctallism.
This is Mr.. Bryan's ingenious way
of putting it. Because our party de-
clares in favor of cooperating with
other nations in fixing an international
coinage rate tits placed in the false
light, by the Democrats, of condemn
ing the present standard. Nothing
could be more absurd. What the plat
form does say is that the existing gold
standard should be maintained until a
agreement can be reached
with other nations, What the ratio be-
tween gold and silver would then be is
entirely suggestions. Free coinage
Of silver by the whole commercial
world at aratio fixed by common agree
ment is very different proposition
from that of l6 to l by this country
alone.
The evils of contraction are appar-
mt to all. Give us a remedy. II is
not a high tariff for Hanna has said we
ire not to have one by any means.
To this there are two answers. First,
We very much doubt if Mark Hanna
ever said this; and, second, Hanna is
lot the Republican party. If McKin-
ey and Republican Congress are
Elected, it is beyond question that a
ariff schedule will be fixed high enough
o produce sufficient revenue to meet
'ur expenses. Instead Of running in
lebt $685., 200, 000,as has been done I'M
Ter Cleveland, we anticipate very diff
erent condition and expect that it will
make its good effects felt on the coun-
ry, as the Mckinley law Of 1890 did.
Let us ask what the effect would be
N the bullion value OF the two metals
gold were demonetized. | have yet
0 find a man who says that he would
oard his gold and sell his silver if he
new this would happen. This is con-
lusive evidence that laws can affect
alues and is an admission Of the gold
len that law can raise the price of
liver.
If all the world should abandon gold
nd coin silver at certain ratio the