New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-22

closed IT, that metal we will unauestionably be
overrun with silver dollars, owing TO the vast
quantity OF silver and to the increased facility ana
cheapness OF Its production So that even shouid
we start with a ratio OF IS to !. the difference
would soon amount &c. so even 60 to /; that 49,
the purchasing power OF the silver dollar would be
to tho purchasing power Of the gold dollar IN that
proportion according to the fuctuating vaiue Oh
silver. SO much for the theoretical sde Oh 'ho
question:; for the practical
In the first place, the sudden change from hAeo
and certain standard of money to an uncertain.
fuctuatng and debascu standard would undoupteu-
ly produce at least Il temporary paralysis OF trade
and business, with all the terrible consequences now
ing therefrom. Secondly. let US see how 1t wouid
affect individual classes. Vast numbeGs OF CLERKS
and employees would be thrown out OF work. ana
large numbers of business men would be ruined.
But the consideration which affects the class 10
which belong is this: The man on a 1xed salary.
the small capitalist with fixed income income, IRON rom t lb
workman fixed daily wages. would have ms
salary, his income or his wages cut down IN me
cordng to the fluctuations In the value OF silver lie
would get the same number OF dollars. put the ex-
changeable value purchasing power or those DOL
lars would be reduced In the proportion Indicated
Now. to the importer and merchant, he who
weathers the storm and Is not Immediately ruined
by the change OF monetary standard lie would
buy his goods abroad and pay for them IN gold; ne
Thus while he would pay dollar for his goods In
England. he would be obliged to sell them for %
here enough to cover the difference. to the great
damage of the American consumer.
whose supposed benefit the whole silver craze was
started. At first. certainly, the farmer who Is
mortgage is not made payable In gold would be
benefited. for he would settle with his creditor at
himself That is. instead OF paying of his mort.
gage in gold or It's equivalent he would pay It on
of the farm produce of this country that Is shipped
to Europe every year. and paid for IN gold or us
worth Under the free-silver regime, the foreigners
would pay our farmers for their produce In silver
selves and corresponding loss to farmers. Then.
II business goes badly with the farmer and ne IS
that the swindled capitalist remembering now n, ne
was compelled TO take % cents on the doar for
ing another loan to his former debtor. Then. con-
slider the number of our farmers who have the
so he OBLIGED to pay IN gold or nearly 200
cents on the dollar. II we have free silver.
and all our people in the end except the rich mine
owners and perhaps the great capitalists who have
will suffer. The Ma credit viii be- perhaps: IT.
reparaby shaken. the honor Of the country VIII be
ruined, and practically the only contented portion
of the American people, aside from the Inineowners
Sn9 n and Rho w have been
swept into power by the triumph OF the silver craze
gold and silver in circulation and interchangeable at
ratio fixed By the Government. All experience ana
show that the gold would ne quickly
drawn from the country. and silver monometaliism
would reign supreme
And who are the promoters and leaders OF the sill
yer movement? They ire not drawn from the classes
who have been identified with the Nations prosper
ity They the rich mine-owners and certain
crafty politicians who, with stake in the
try's well-be!ng actuated solely by consuming
desire for the spoils of office And their principal sup
porters are taken from that class OF intellectual
proctarat" which exists In almost every land and
nation composed OF lawyers without clients, doctors
without patients writer's without publishers editors
without subscribers, all OF whom have certainly
nothing to lose and possibly something to gain by
revolution REGINALD II. WILLIAMS.
New York, July 20, 1896.