Santa Fe daily New Mexican., 1896-05-12
THE PRICE OF COMMODITIES.

THE PRICE OF COMMODITIES.
Coinage of the American product would
be most unholY and selfish thing, bene-
filing only the miners to the exclusion
of the masses.
The silver miner had lost not one
tenth as much as the farmer, the produc-
ers of corn, wheat, cotton, wool, ETC., by
the demonstration of siiver-that act of
1878.
ENORMOUS LOSSES.
"The loss to the producer of silver,
through demenetization WAS never in any
year over $32,0OO,000, while the loss, for
the same cause, to the producer of wheat,
WAS over $250,000,000.
altogether it ia calculated that if the
aggregate of agricultural products raised
in 1893, could be sold for the bimetallic
price of 1873, the gain to the farming
community would be nearly or quite
81 ,50O,0O0,000. but the point wish to
suggest now ia, that compared with this
enormous loss on agricultural products,
the loss of $32 100000 by the silver pro-
ducers is too small to call for special con-
sideration, although it entailed on the.
mining community grievous amount OF
suffering and destitution."
THE REMEDY.
Bimetallists simply ask that this act be
repealed and the law of free coinage be
restored as it had always been before. 1t
is nothing now. It is simply fair play for
all the human race; a restoration OF the
a. &c kha Gpo ~ ho AVr1a rIp
constitution.
As to the immediate future the speaker
was not sanguine. This year will scarce
ly see free coinage, but it is in sight; per-
haps before another presidential election
following the one of this fall. However
much the miners and the farmers and the
wage earners might strive to attain this
act of justice, still they are unorganlzed
and deficient In leadership; but class of
men are now being pinched that will not
submit, and can not, because ruin Will
surely come upon them, and they are
beginning to ascertain this by bitter ex-
perience. These are
THE AMERICAN MANUFACTURERS.
Judge Prince read a personal letter
from Mr.. James Dobson, of Philadelphia,
the largest manufacturer of carpets in
this country. He is a free coinage con-
vert by actual experience. In 1898 he
paid his employees $l36,o00 per month in
wages; now his pay roll is 100000 a
month, beoanse American manufacturers
are supplanted by those of Japan, which
is on silver basis, and where 5S cents in
silver will produce the same article that a
gold dollar IN America now actually val
ued at $1.52 must be paid for. Mr.. Dob
sons letter presented some instructive
statistics. This same foreign competi-
tion from silver using countries effects all
industries in our country. Silk handker-
chiefs to the number of 100000, for
merly manufactured in the United States,
we're imported from Japan in 1895. In
1890 Japan sent toss this country $4,000
pieces of silk; in 1895, 40xs000 pieces. or
16,OO0,000 yards were imported from Jap
an and as a result $500 American, looms
were stopped, throwing ont of employ
ment 10000 operatives which, with those
dependent upon them, meant
1DLENEss AND SUFFERING FOR $4,000 PEo-
In 1895, 100000 yards of Japanese
mating, imported at cost of 5l2 cents
In gold, took the place of American made
carpAs. As consequence ffty-four OF
the seventy-fve wooden mills in the
vicinity of Providence, R. l., are idle to-
day and those in operation are run but
four days in the week. Again, Japan, in
1894, had sixty cotton mills at work run
ming 100000 spindles. In 1895 the
anindIes had more than doubled and con-
tracts are now let for placing 100000 ad-
ditional spindles IN operation for 1896.
Such facts as these, said Judge Prince,
would force the American manufacturers
to take the lead in settling the question
OF free coinage and with their organized
ability, influence and standing, they would
constitute a powerful factor in restoring
to the masses of the people those finan-
cial privileges vouchsafed by the Ameri-
can constitution.