People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-05-14
THE GOLD STANDARD.
Silver Countries Have Our Manu-
tsc'o-ies d; Their Mercy.


itCrial ftou Il recent issue Of The
American" Of Philadelphia. a jour
Dal Of high standing and recognized
as being essentially devoted to the
manufacturing Industries Of the
United States It's editor Mr.. WhaT-
ton Barker is Republican Of promi-
nence, and is a recognized authority
on economic problems. The tenor of
his argument is to show that the
logical effect Of the gold standard is
to develop the manufacturing indus
tries In silver standard countries to
such an extent as will render the
manufacturers Of our country unable
10 successfully compete with them.
We trust that our readers will give it
careful consideration. 10 his argu-
mentSo replete with sound business
principles and good common sense.
Mr.. Barker says:
Receiving pay for what they sell
TO US, or England, or any other gold
using country, in gQld that has ap-
preciated as measured in silver, their
standard of value, 100 per cent, the
silver-uSing peoples can afford to sell
their agricultural products and man
ufactureG goods for Just one half the
price in gold of what they would be
obliged to charge if the parity be-
tweengOld and silver had not been
destroyed and gold had not appre-
eidted as compared to-sjlyer 100 per
cent, for 50 cents in goldis now worth
as much to them as 81 twenty-five
years ago.
The divergence in the value Of
gold and silver has enabled the silver
using peoples to cut the prices of
what they sell to gold using countries
in half. without reducing the silver
price which they receive, and, as the
purchasing power Of silver is as great
with them as ever, without curtan-
ing their profits. As the Japanese
and Chinese learn TO use European
and American machinery, and as they
learnby experience to economic in
production adopting the improved
methods of production, and profting
from the experience of Western civ
ilizati0n, they are naturally enabled
to reduce the cost of production. bat
aside from any cheapening Of pro-
duction, the producer in Japan or
China, or other silver using nation,
can sell in America, or England, or
Germany, or any other gold using
nation, for just one half the price in
gold that'he could before the parity
between silver and gold was destroy
eddy demonetizing silver without
reducing his profit one lot. -. . -. =.
1.-THE Chinese tael. based on silver
and the japanese. silver zen 60 just as
far as ever, will buy as much labor,
pay for the production OF as much
acettens Orsyarn, or Gotten cloth as
ever, With the taeI worthless cehtsin
egOld, or the yen worth 50 cents. the
Chinese sOr Japanese manufacturer
can produce as. much as when the tael
was worth 81 30 in geld and the yen
81, and eyer. more, beca use OF the. Use
ef'aimproyed. machinery, but with
the gold received ID GOLD using com
tries for what he. sells to such
such4countries he can buy exchange
2foEtWieelas,many tael's or twice, as
,1nanyyels as he could when silver
had not commenced to -depreciat5es ....as
measured by gOld.s Thus he is en-
-abled to Sell at half price in gold.
a. /. TO keep. our markets our manu-
sfaeturefs must meet this. Bot. meet
1T they can not. Try as they will,
they cannot cheaper the production
Sso'as t0enable themtB do 80. They
may improve machinery and eG6ni.
niRe 10 production, but their silver
competitors will promptly avail of
1.-The same improved machinery and
'the same economies in production.
In this way our manufacturers can
gain no advantage over their ASiatic
competitors. Just so far as Silver
has fallen as measured by gold our
manufactures mustFeduce prices, or
1.-The difference will resuitas,a bounty
Ion imports and lead to the impert
and sale of japanese and Chinese
goods in place Of those of home manu-
facture.
under gold 'monometanism the
necessity of meeting competition
with silver using peoples, fostered by
bounty of 100 per cent in the shape
of apremium successfully is impossi-
bic All manufacturers, whether
debtors in their individual capacity
or not, have ashare of fixed charge,
acharges calling fora fixed Number of
dollars to bear Each must bear, a
: portion Of the national and State and
j municipal Indebtedness, that becomes
more burdonsome as gold appreciates.