The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-10-10


final redemption. Surprising the farmer
/ in contracting a debt for $1,000 had instead
made an obligation for the payment of
| 1000 bushels of wheat. The point is 700
| plain for argument that he would reduce
/ his debtpaying power One-haf by de-
! strOying one-half of his wheat his medi-
UNI for the ultimate redemption of his
debt. Again, suppose that in 1873 we had
| had as much gold as we had of both sill
yer ana gold. and had destroyed one-half
Of the gold. Does any one for a moment
maintain that il would not have TO that
extent reduced our debt-paying power,
and at the same time enhanced the value
OF the remainder. Destroying half of the
primary money whether ali gold or half
gold and half silver, was the same in Of
feet on prices, and. conversely. TO double
the amount Of money of final redemption
would increase our debt-paying ability to
the same extent in the same manner that
it would the farmers ability by doubling
the amount of wheat with which he was
TO pay his debt.
Considerable has been said about so
much more silver having been coined
since 1873 than before, and by this state
nlent many have been misled, and il is
only stated to deceive. Previous to 1873
the silver dollar was the unit of value,
and the silver of the world, about 3,OOO,-
100000 of dollars, with the gold of the
erty Of the world was measured. 1t was
then primary money, but it is now simply
form of credit, and according to Mr..
Carlisle's latest somersault, is redeem
able in gold, and so would better be
paper, which could be printed at less
cost 1t is primary money that estab-
fishes prices, and of primary money we
have less than half the amount that we
had in 1873 That primary money gov
ems prices is shown by the fact that the.
amount of credit money is determined by
the amount of primary money, since it
rests upon and is upheld by it. Primary
money is the foundation on which all
other money rests, which are but prom
ises to pay primary money, although, of
course, credit money assists in maintain
ine higher level of prices.
Bimetallism would benefit the farmer
by reason of increasing the supply of pri-
mary money and thus raising prices
You may theorize and argue until you
are hoarse, yet you will fail to get the
people to prefer low prices to high ones
for their products. They know that one
bushel of wheat at $1.25 in currency will
buy one acre of government land, while
1t takes 21s bushels at so cents to pur-
chase it, though it be gold. They know
well enough from experience that If you
run down prices by lessening the cur
rency there Will be no corresponding de-
crease in taxes, nor in the debts they
owe. Logan.
Debts are not paid with dollars. but
with bread and butter, that is. products.
The farmer does not raise dollars. but
wheat and hogs, cotton and corn, and
with these dollars to cancel his debt.
ana with wheat at so cents, he knows he
has got to raise twice as much OF it to
pay his taxes. We are paying England
a2VO OOOOOO year interest on debt the
81 n trfnf n,
Of 81 wheat and better With wheat at 80
cents our exports have to be doubled.
ana the farmer has to raise the stuff
in raising prices, would di-
minish the amount of exports necessary
to pay the interest. The farmer getting
only half as many dollars for his wheat
crop, can buy only half as much of the
the railroads can't charge as
much freight on so cent as on 81 wheat
so they reduce salaries, and the railroad
employee shortens his purchases at the !
store; so around the circle from the farm |
er to the manufacturers
A significant fact in connection with |
he fall of prices is that it has been con
ired to gold standard countries There |
has been no change of prices to speak |
)t in silver standard countries, and right |
acre may be mentioned the advantage |
which such countries have over the farm |
II or the gold standard country. Saw |
hat wheat can be laid down in Liver |
)ool by the farmer of India at % cents |
Der bushel. India, being a silver using |
the importer in LIVERPOOL can |
purchase the necessary amount of silver |
o pay for the bushel of wheat with lllb
;ents in gold, send the silver to India
md pay the farmer for the wheat. The
american farmer must either meet the |
ndia price or not sell his wheat I'm
Ter bimetallism silver could not be pur-
biased at 50 cents on the dollar The
english importer would have to give %
'onts worth of gold for a like amount
II silver, and consequently would have to
ell his wheat at a higher price to make
/ profit and the American farmer would
get the benefit of that difference in the
ale of his wheat
1t seems to me, therefore, plain to be
cen how free coinage would benefit the
armer' and why he should put his stamp
II disapproval on goldism by "a vote for