Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-09-17
WE CAN'T BE A JUDAS
AMONG NATIONS.
Sc secretary j. Sterling Morton
Speaks in Nebraska City.
American People Scorn Those Who'd
Applaud the Crucinxion of
Our Credit.

Our Credit.
Nebraska City, Neb,, Aug 1.--Secre-
tary of Agriculture j. Sterling Morton
delivered an address on the money ques-
ton in the opera house here tonight.
An immense audience was present. 1t
was non-partisan meeting in the sense
that republicans and democrats who
stand for Sound money" made up the
larger part of the hearers. Following
is synopsis Of his address:
I'VE are told that plutocrats or money
lords OF the country are endeavoring
to crush the plain people and that we
are debtors ground under the heel of
the eastern creditor. Is it probable
that owners of money are endeavoring
to bring about n state of affairs which
shall ruin those who already owe them
money and prevent their ever recovering
their loans? Having established silver
as our measure of value and medium of
exchange, all who buy of us will pay
us in silver, all of whom we buy will
demand of us gold, and we will pay the
premium on that metal.
"To-day Mexico Is on silver basis.
A draft on New York, which is the
equivalent of gold, is worth premium
Of 81 per cent. The reason of this
premium is that Mexico must pay the
difference between her dollars, not
foated at parity with gold, and our
dollars, which, up to this time, are held
at that parity by the pledge of the
government, by action of the policy of
the treasury and by the courage of
Grover Cleveland, president of rhe
United States.
in Mexico the imports are still en-
HANGED in value because the importer
pays n sufficient price to cover the
probable fluctuations Of silver in the
London market. The exporter buys as
cheaply as possible to meet the same
fluctuations. So silver country is be-
tween the upper and neither milestone.
The imports are enhanced and the eX-
ports are diminished in value. A maxim
which is almost an axiom in political
economy is found in Mcleod and reads
thus:
"'Thc relation Of supply and demand
is the sole regulator of value. This
rule is inflexible, memorable and always
vigorously operative. 1t applies to salt,
starch, silver, gold, soap, horses and
oats. In fact, it applies to every saleahIe
thing on the face of the civilized globe.
And this accounts for the decline in the
commodity value of silver.
Modern methods Of treating ores
have increased the supply of silver UNI
til it is out of proportion with the nat
ural demand for silver, and the Bland
Allison act and the Sherman act show
that artificial demand cannot be so
treated under the circumstances as to
uphold the ancient price of that metal.
Neither national bimetallism, as it
is termed, by the United States, nor BIZ
metallism agreed upon by all the civil
lied world powers Of the earth, can fix
and maintain the.price of silver in gold
at one ounce to the latter to sixteen
ounces of the former, when it exchanged
everywhere as bullion at thirty-two TO
enc. Will the advocates of the free
coinage of silver at sixteen to one tell
us how the silver standard can benefit
i both the producers and consumers OF
and lower the value of the dollar fol
the debtor? The debtor class is no
made up of farmers, mechanics aD1 la
borers.
Briefly, the condition of the Ameri
can farmer is shown by the fact tina
he owns 4,5G4 ,461 farms valued at NOR,
than $4,000, 100000 in aggregate anc
at an average of S., 900 each. The house
hold Of the farmer averages six per
sons. The rural population of the
United States last year fed the urban
population, furnishing them with
cereals, meats, vegetables, fruits, milk
butter, cheese and poultry. This urban
population is So per cent. of all the people
of the United States.
"Thus it seems that the AZ per cent
who live upon the farms, after feeding
and clothing themselves, fed more than
100000 of the deniZens of villages
and cities. They did not furnish this
food gratuitously, and they will not fur
nish it at loss. During the same year
the United States exported in products
and domestic commodities and mer.
chandise valuation of 1898, 000, 600. The
value of the agricultural products in
Guided in that sum was $553,215,3T.
ut is seen by the above that the
American farmer fed himself and
clothed his family, then fed all the vii
lage and population of the union, and
after that sold in the worlds markets
more than $5O0,000,00O worth Of sur
plus products. How, then, can the AZ
per cent. of the people of the United
States which feeds the remaining So
per cent. and then furnishes more than
so per cent. of the total exports of the
country be making less profits than
those whom they feed, when the lat
ter supply only 81 per cent. of Ameri-
can exports?
''This republic is not Judas Iscariot
among civilized nations. 1t refuses to
betray honest dealing. 1t scorns even
thirty million times thirty pieces of sill
yer, and is compelled by its judgment
and its conscience to reject the impor-
tunities of those who would deliver the
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