The Portland daily press., 1896-03-26

any weight. 1t must be shown that the
cause Of the continuance of the depression
or that it creates condition unfavorable
to recovery. Where is the evidence
that the failure of the country to
regain its full prosperity has been
due to the neglect to put silver
on an equality with gold as money
metal? The silver men toll us that the
country went on to the monometallie
basis over twenty years ago and has been
there ever since. Yet it is well known
fact that within this period it has en-
Joyed prosperity unparalleled. II gold
basis causes business and industrial de-
preston or creates an atmosphere favor
able to it how is it that the history of the
country since 1878 has not been q history
OF gradual and steady decline, instead
OLA history of ups and downs like that of
the country ever since it became an indus
trial and commercial nation. The only
thing like proof that recommendation has
had something to do with the country S
depression that Mr.. Talbot adduces
is the fact that business is good
In Mexico which is on silver basis But
that amounts to nothing unless it is
of silver basis. Does Mr.. Talbot show
this? No, he simply assumes it, But
what is the nature Of this prosperity? Is
it the kind that the American people
would like to have introdu ced into this
country. 1t seems the capitalists and
bankers in Mexico earn from Is to 25 per
cent upon their capital while labor re-
ceiyes the princely stipend of 25 cents
day. II Mr.. Talbot should succeed in
proving that this kind OF prosperity YVES
due to free silver he would prove alto
gether too much for the good of the free
silver cause in this country. But it is vast
ly more probable that such prosperity as
Mexico enjoys is due to the stability of
the government which has be en- acquired
comparatively recently and the discovery
by American capitalists of opportunities
that have been running to waste,
rather than to silver. It is safe to
say also that those capitalists will not
long be allowed to enjoy their twenty five
per cent Competition will eventually
attack them and compel them to be con-
tent with smaller returns, and then
there will be complaint that Mexico is
depressed.
Mi. Talbot's facility for making as.
sumptions do duty as established facts APP
pertains to the whole silver propaganda
Almost all of their conclusions are drawn
from premises which are disputed. Yet
their habit is to treat their case as in
contestably proved. That is the reason
they are always attributing their failure
to get their policy adopted by Congress to
malevolent Influences 1t apparently
never occurs to a good many of these
people that free silver is not adopted be-
cause it is regarded as an unwise and
calamitous policy. They attribute Its
rejection to the Vaccinations of the
bankers or the gold bugs so-called,
who are credited with the pur-
pose of paralyzing industry, running
business, and plunging the people
into distress in order that they
may profit by the ruin they have
wrought. And here is another of their
assumptions which they treat as estab-
lished facts. 1t is that bankers and gold
bugs can flourish on failing business, de-
pressed industry and general distress.
But very slight reflection is needed to
convince anybody whose mind is, not
blinded by prejudice that bankers and
gold bugs are quite as dependent on gen.
eral prosperity for their gains as any body
else. The only way they get profit is by
lending their money and when industry
ia stagnant nobody wants to borrow, that
deals il securities can not make any
money If the properties which they repre-
sent are unproduotive. Indeed the CAPT.
talist and the banker have deeper inter-
est in the general prosperity than any
other class. A manufacturer may be
hourishing. If the particular concern that
employs him is prosperous the working
man need worry little about other con-
Germs. But the banker and the capitalist
must have general prosperity to make
them prosperous. Hence they above all
other men are the ones who are most i'm
PEELED by self interest to promote that
which will add to the general prosperity
and to prevent that which will detract
from it. The exact reverse of the as
sumption of the silver people that capital
lists want business depression is the truth.
They above all men want general pros
perity because they above all men are de-
pendent upon it for their gains.