Evening star., 1896-10-22

Total exports over imports
ior n1teen years. .$475. 40, ,556
MY critic says we only lost 26 millions.
MT. Carhsle and Mr Preston say we lost
between 415 and T53 millions He. there
fore. should address his next communica-
tion to them.
He next complains that my tables of the
increase OF wealth in the New England
states and the decrease in the southern
and middle states between 1880 and 1890
are incorrect, and cites to prove his declara-
ton statistics concerning Minnesota, Da-
kota, Colorado and Texas. Those four
states he finds have grown. AS never
mentioned them in my remarks, do not
need to concern myself with them now.
he has chosen Texas. the empire state of
tne south, to which between 1880 und 1890
nearly all OF the southern emigration went:
Minnesota. which has developed nightly
In manufactures; Dakota. which in those
ten years was converted from Indian hunt
Ing grounds into great wheat -rafsine
state, and Colorado. which has become q
vast gold and silver mining camp He
might as well have added Ohio. NV meth
ods OF reasoning may not be as mathem lti-
cal as MS: but they keep within hailing
at least tarry near the well of truth.
Mr.. w. c. Dodge is the other critic. I
should have felt lonesome, almost neglect
ed, If he had not contradicted me, but not
quite SO hopeless as should IL he had an.
proved of me. He demurs because I stated
that an issue of $50 millions of silver wouId
bring gold out Of its hiding places, and
concludes by remarking that II must think
the American people are ignorant If l ex-
pect them to believe it."
This very cutting and yet very familiar
form OF argument doesn't depress me.
not only said 1t in Convention Hall, but il
1 had mad time would have shown the prob
ability OF 1t by twenty Illustrations
Here is one: $25O.OOO,OO of additional
money would offer itself to be hired to take
,,I up loans. now demanded in gold, or it's
out gold which Is now being secreted be-
cause the increase in its purchasing power
exceeds Its possible Increase in interest bv
from fve to ten-fold. When two dollars
seek borrower that individual can have
something to say about the rate of Interest
and the terms, but when two borrowers
seek one dollar the owner of the dollar
sets the pace and also marks out the road.
know OF one man in this city who has
had In safe deposit vault over 5000 600 in
gold Tor the last two years. IL he had
rented 1t for interest he would have had
$24 900 Of increase.
AS it is the 100000 has apparently earned
nothing, but he knows and 1 know that it
would buy today twice as much or nearly
twice as much of anything else as it would
two years ago. Fine writing and sapfent
some people into a poor belief, but close
contiguity with fact such as have state;1
will open their eyes.
Mr.. Dodge states that he knew a man who
In lSGO had 81, 200, which he Dodge tried to
induce him to loan him, promising to paw
the principal and interest in gold. I think
one might give the reason for that without
going to the Treasury Department for its
statistics.
One thing I have become convinced of
since have met the advocates of a con-
tinued gold asphyxiating standard, and that
is that there is not one Of them who can
put question or erect a hypothesis that a
fairly well-informed silver man cannot
satisfactorily answer or brush away.
This country Is going to return to a bi-
metallic basis-in my humble judgment. 1t
is not only right, but 1t is expedient, and
not only expedient, but our only hope for
financial salvation.
STILSON HUTCHINS.
October %, 1896.