The record-union., 1896-07-07

| that is, we were purchasing four and
| half millions a month of silver for
| money purposes-and that was con-
| ceded to be about the net output of the
| American mines. Still it is correct to
say that silver production would be in
| creased and consequently the number
| of men employed would be greater under
| free coinage. How much this increase
would be we are not able to approx
mate.
| How was it with manufacturing that
year? How did it compare in the num-
| Der of people that were kept at work
| with the mining industry? And bear in
mind the figures given above We're for
both gold and silver mining. BY the
same authority above quoted, the census
of 1890, there were employed in the
manufacturing Industries of the coun-
try 4,712 622 people.
A FINANCIAL VIEW.
! Placerville Republican,: We contend,
as we have all the time, that the pres
ent standard is the best for the coun-
try, and that it has nothing to do with
the business depression or the troubles
of the treasury. We ask those who
have faith in the cry for unlimited sill
they will find that the country was in
the same kind Of ferment over hard
times, and we had the Greenback party
urging more money. Then we had a
gradual revival of business and pros
porous times until the present depres-
sion occurred. The same coin the same
money, was here during both periods of
prosperity and adversely, and if we let
the money alone we shall again have
prosperity under the same coinage Sys-
tenn, when our glutted markets are re-
lieved of their oyer-supply and our peo-
pie go to manufacturing more goods
here which they are now buying out
side the country. We don't ask any
body to vote the Republican ticket If
he does not believe in the Republican
policy, but we do ask every man who
would vote intelligently to study the
causes of financial depressions and not
adopt without thinking and careful in
vestigation the short-sighted policy of
those who think they can relieve stag
nant markets, make high prices and es-
sentially give riches and prosperity to
everybody by simply changing the kind
of money or making more money. Busi-
ness depressions are not a new thing.
Every civilized country has had them
at intervals whenever the surplus of
consumable commodities accumulates
and thus lowers prices. We have lively
times when the products of a country
are depleted by war or otherwise, as in
this country Immediately after the
civil war or in Japan at the present
time. We have had hard times, glutted
markets and low prices after a period of
great industrial activity and produc-
tiCn. That is natural and Inevitable
result. 1t is common sense. Suppose
wheat should rain down from heaven
wouldn't it be valueless? And sup
pose our producers bring into existence
in any other way immense quantities Of
anything that we use-won't the prod
ucts fall in value, and ultimately be-
come worthless if you produce too much
OF them? And how are you going to
prevent stagnation by free silver floods
of greenbacks or any other money man
ipulation?
WHAT 1T WOULD MEAN.
Adm Argus: If there be any Republi-
cans who are thinking of going over to
the Chicago nominee if he makes the
race on a free silver platform and the
st. Louis Convention declares for the
gold standard, they should stop and
consider what such a step would mean.
Assuming that if re-enforced by all the
free silver Republicans, the Chicago
nominee would be elected and the Mints
opened to silver on a parity with gold.
what would be gained? The election of
such a Democrat would mean to the
farmer the consequences of still sharper
competition with the grain and livestock
raisers of South America, India and
Russia: or, in other words, it would be
still further reduction in the market
price of his produce. No kind of money,
even If made of diamonds, would or
could compensate the farmer for the
reduction in the price he would receive,
which the acceptance of Argentina's
basis of cost of production would en-
force upon him. What would the I'M
limited coinage of silver avail in Cali
fornia If wheat growers in Canada or
South America or Indian wheat were
laid down in San Francisco at a lower
price per bushel than he could deliver it
for? Yet. the nominee of the Chicago
Convention will be pledged to accom-
pish that very thing by withdrawing
protection to our farmers against the