The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-24
E. e. Crooks, stock broker, Al West
Second South street Telephone 81.
HONAIS POLITICAL COLUMN
FREE COINAGE CATECHIsM CON
TINUED.
CHAPTER III.

Q. What other effect had the de-
monetization of silver on the United
States?
A. First it lowered prices generally
by diminishing the volume of primary
money and, second, it brought the
country into direct competition with
silver-using nations.
O. What is the financial condition of
silver standard countries, such as Mex
leo, etc?
ness is steadily improving and Amer1-
can capital finds better employment
there than here.
Q. Why have there been such good
times in Mexico?
A. Because they have plenty OF
money, and hence the price of their
commodities measured in their money
does not fall, nor do their taxes, debts
and other fixed charges relatively rise,
as these are now doing in the United
States under a gold standard.
Q. In what condition was India dur
ing this time?
a. While the farmers Of England
and America were in great distress,
through falling prices and hard times,
the export trade of India had greatly
increased, and cotton manufacturing
tons of surprising magnitude.
Q. What articles especially were af-
fected by this competition of India?
A. The articles Of cotton and wheat.
In 1874 the total number of bales of
cotton exported from India was 1900,
which increased to 100000 bales in
1886, thus bringing the American cot
ton planter into sharp and keen COM
petition with the Indian cotton grower.
In regard to wheat, in 1878 the amount
of wheat exported from India to Eng
land was less than 100000 bushels.
In 1886 it had reached nearly 40,000,000,
and since has increased to $4,000, 900
bushels. Every bushel of this wheat
was sold in competition with American,
and both in wheat and cotton the
competition was on a silver basis.
Q. How did the great fall in prices
affect the producer?
A. 1t injured the producer for the
benefit of the n-producer, and it fell
with especial severity upon the agri-
cultural classes and other producers of
raw material. The manufacturer could
in a measure save himself by getting
his raw material at lower rates, but the
farmer miner and other producers had
no one behind them to whom the loss
could be transferred.
@. How did the great fall in prices
affect the debtor?
A. The burden of the debtor was
increased for the benefit of the credit
or. Every debt must be paid out Of
the price received for the products of
labor. If the price fall it is the same
thing as an addition to the debt.
Debts are necessarily paid out of
profits. Expenses must be met before
the debt can be paid, and if the price
be cut below the point of profit, the
debtor cannot pay at all. At the same
| time taxes, interest and many other
things do not come down at all, but
remain stationary or rise higher.
ELLEN B. FERGUSON.
(To be Continued.)
The American Farmer and the Sill
YER Question.
Referring to the closing Of the In
dian minis by the government of India,
and the great fall in the price of silver
which followed. Mr. Reed said, I'VE
have learned from that object lesson
that the yellow man using the white
money holds at his mercy the indus
try of the white man using the yellow
money" This now historic sentence
crystallizes the position admirably.
| The value of their silver coin for the
Chinese and Japanese races, for the
Indian and the Malay, is today as great
as ever. That is to say, while silver
has fallen one-half in gold value, yet
the purchasing power at home of the
tael, the Straits dollar, the yen and
the rupee, for seven hundred millions
of Asiatics is no whit diminished. The
result is that the fall in the gold price
of silver occasioned by the closing of
the Indian minis, the repeal of the
Sherman act, and those other excuses
Of class legislation intended, in the
ctr nh of 6a a fn -
| gold,' and enrich the bankers and
other money-lenders, is today creating
| in the far east a mushroom growth Of
/ industrial enterprises, in mine, in field
and in factory, the exports of which
| Oriental industries compete with the
products of white labor, in the mar
| kets of Europe and America, on terms
of great advantage because of the fall
in the price of silver
Free silver" will at once raise the
exchange rates between Europe and
all Asia, and also between Europe and
South America, thereby greatly slim
ulating our trade exports to four-fifths
of the inhabited world, and enabling
us to purchase much more largely from
America. 1t will also at the same time
secure an expansion of the exports of
the United States to Europe, at the
expense of Asiatic exports. For the
! lack of this expansion and a. conse-
quent favorable trade balance. that
great debtor nation, the United States.
is today insolvent, borrowing it's way
with difficulty and at high rates, and
piling higher that debt, the burden of
which becomes more and more intoler-
able with each fresh fall of prices. And
whatever the United States in raising
the level of the silver exchanges with
the Orient, accomplishes for her own
benefit, that she accomplishes equally
for every white farmer and white work
ingman everywhere. All of US since
1893 have suffered alike from falling
exchange rates, and the consequent
! competition of myriads of OrientaIs,
which has so inevitab bly, followed the
depreciation of their currencies More
ton Frewen.
Credit For Mrs. J. Feuson Smith.
Editor Herald:
Sir-Permit me to call attention to
an article in your issue of last Sun
/ day morning, headed:
Women in Politics. Splendid work
! done by Mrs. Ferguson"
Unfortunately that article is a gross
Misrepresentation of the facts of the
case. Mrs. Ferguson never did stand
at the head of the political women of
Utah, as those who really did occupy
| that position are prepared to prove:
but Mrs. Ferguson is willing and cap
able worker and as such not at all
dependent on credit for the labors of
others; hence we say, as good Demo-
Gratis, give to every one their due.
Mrs. Ferguson did not plan, suggest
or inaugurate the movement known
as the Ladies Nonpartisan Bryan Sill
c1r,ac