Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1896-04-23

Of London only to come back to the
United States to purchase our bonds at
a high rate Of interest. The London
bankers take In exchange our silver at
fifty cents on the dollar, they having
contracted far into the future at that
price, knowing that the production Of
silver Is running short.
It may readily be seen why nations
having a silver standard do not care
to Join the gold standard nations in
international bimetalllsm.
At present they make a profit of 100
per cent upon every dollars worth OF
gold they exchange, but If they Joined
In international bimetallism, they
would be compelled to take in ex-
change for their manufactured articles
our silver on a parity with gold, there
by depriving themselves Of the hand
some profit they are In the habit Of re-
allzlng, for they would have to pay for
our silver 129 29-1OO per ounce. This
would leave the gold in our country
and there would no longer be COM
plants OF depleted treasury and q
diminished gold reserve fund, and no
need OF further Issues of government
bonds.
linen, too, they would purchase our
raw material, for there would be no
discount on their silver money; but at
present, as we Will pay only fifty cents
on the dollar for their silver, they will
not buy OF us, preferrlng, naturally, to
deal with some silver standard country
where their silver is taken at par.
This proposition appears to me so
simple, so plain, so capable of but one
solution that 1t is matter Of wonder
ment to me that our so-called states
men and flnanciers should hesitate
concerning the course to pursue.
II this condition Of affairs is to con-
tinue; il our silver is to be used In this
manner; IL we have to compete with
the cheap labor of China and Japan,
what is to become Of our laborlng
class, of our farmers, Of all our in
dustries?
A friend Of mine who has large
vineyard In California, says that in
consequence Of the continued hard
times it did not pay him last year to
pick the grapes, and that rather than
see them rot on the ground he fed them
to hogs. He also said that II the pros
poets were no better this year he would
make no attempt to cultivate his vine
yard, but would allow It to run to
weeds.
Buyers Of wheat last fall sought in
vain for the cause Of the unprecedented
and continued low prices Of all cere-
ais, The visible supply warranted
higher prices. but instead Of going
higher the price continued to decline.
The same cause that affects our de-
pleted treasury and our reduced gold
reserve fund, also affects the price OF
all our Industries, the price Of wheat,
the price Of cotton, the price of every
thing that is produced in the United
States.
There is only one remedy for all this
and the sooner 1t Is applied the better
1t will be for all classes Of people in
the country, and that remedy is blmet-
alllsm.
The cause Of the trouble Is the de-
monetlzation Of silver, which occurred
in 1873, and the deleterious results
have come upon us so gradually that
we have lost sight of the cause in the
effect.
When the people realize that the de-
monetization Of silver is the real cause
Of the hard times, they will demand,
with their votes, the free coinage of
silver on a basis Of 16 to 1, and when
that time comes, as come it must, then
will the tide Of depression turn and
flow in the direction of prosperity.
/ predict that the time has come
that in this year Of 1S96-blmetallism
will become a law, the only drawback
being that for the past twenty years
the gold bugs have had control OF the
press and the press has made the
masses believe that silver is worthless,
and that nothing but gold is money.
have too much faith in the intel
llgence Of the masses to think that
they will believe longer In the gold
bug theory, and If 1t does not come
this year, then in 1900 will they pro-
claim their independence Of thought |
and demand bimetalllsm, but failure
this year means four more years OF
hard times and low wages.
When the people come to understand
that there is not one-fourth enough
gold in the world to supply them with
then will they rise up in their
might, overthrow the single gold
standard and place silver where 1t be-
.ongs as the peoples money.
The silver cause has been discussed
Tor twenty-three long years. During
his time We have had great panics and
great strikes, tramps have overrun the
country, and the Coxey army made
march on Washington.
Silver has been championed and de-
ended, not only in the United States,
tut In : England, by the most emi-
lent lawyers and statesmen, but up
o the present time has been defeated
n every trial.
We, the users OF gold, as a minority