The Providence news. (Providence [R.I.]) 1891-1906, 1896-08-31
DOUBT AND DISASTER.
Threats of Free Silver Have
Made Hard Times.
STILL GREATER DANGER AHEAD.

II the Silver Standard Was Desirable, the
Adoption OF the Chicago Platform Would
Have Started Us Toward Prospority--In-
stead We Have Greater Depression.
One argument that has been repeated
ly given as reason why Mr.. Bryan
should be elected president and con-
gress chosen that would support him in
his financial views is the need that ex-
lists Of making q change. In arguments,
both moral and written, that have been
delivered or that have appeared in the
central section Of our country the
changes have been rung on the stato-
ment that times are so bad now that
silver standard cannot make them worse;
that if what we have been going through
for the past six or eight months is the
result Of gold standard of value then
surely change to silver standard can
not be attended with serious conse-
quences, because present conditions are
about as bad as they could be. This is a
seemingly plausible but entirely delusive
argument, for to say Of the condition in
which the United States has been for
some time past that it is the result Of
tho gold standard of value which we
have maintained is very much like as
serting that the remedies used or pre-
cautions taken at the time of great
epidemic - as, for example, Asiaf1o
cholera-are the causes of the long list
Of mortality, and that the healthy way
would be TO let the disease run its
course without check or hindrance Of
any kind.
The trouble with our present fnan-
cial condition is not that we have o gold
standard, but that for good while past
we have been threatened with a silver
one and have been compelled to fight
this danger, just as the cholera or yell
low fever has TO be fought. by prevent
i've and remedial measures. The only
way to- properly estimate the value Of q
gold standard is to take those countries
where gold standard exists and COM
paro them with our own country, where
for years past there has been doubt as
to its continued maintenance. There is
not the least question that for the last
six months business has been in an ex-
ceedingly depressed condition all over
the United States, and yet at tho samo
time the gold standard has been main
tanned by tho use Of exceptional meth
DDS. On the other hand, during this last
six months business in Great Britain
has been carried ON in q satisfactory
and profitable manner, III spite of the
fact that last years harvest was par
tial failure ard the present harvest
does not promise much better. There
has been in Great Britain during the
last six months not only gold stand
ard Of currency, but G.standard without
the shade Of quail S-ation or doubt;
hence il tho usc Of gold for the purpose
Of determining monetary values is at
tended with such terrible evils as the
silver orators assert, the hopeless gold
condition OF England would present
picture Cf industrial horror Of the black
est description, whilo in the. United
| States, where u gold standard has only
been maintained hy extraordinary effort,
and where Large number Cf people are
| earnestly working so drop it and adopt
a silver standard, industrial conditions
on tho hypothesis we have just set
| forth--shorld be far more favorable.
The crashing aBd dcmoralizing effects
| Of gold--3sSuini8g such effects TO exist
should in cur case be materially mod
| fled by tho possibilities OF relief that
| might come through the use Of silver,
| Just as tho recent hot wavo that has
| rolled over VS. from tho at he's been
| tempered aEd lnoaificd IL this part OF
tho country by tho cooling influences Of
sea Breozc.
But in reality the fact that we have
| not tho same assurance here which exists
| in England that thc gold standard Of
| value viii bo maintained instead Of
proving of herclt 10 our industrial in.
terostg has obviously worked TO their
| immense Ge'rinent. England, with its
certain gold standard, has thriving in
| dustrial cc.Citiou, end the same state-
ment holds true Cf tho nations OK conti-
nontal Europe where the gold standard
| has an established asccndency, but here
in the United States, whore we have
| enterprise, ccpi,al, intelligence and
| larger possibilities III the way or unde-
vclopcd resources than any other section
of tho world, VIC have had industry par.
| alyzed aud commerce stagnated just in
proportion az tho possibilities Of obtain
ing tho blessings OF silver currency
| have boen largest.
We are told, on tho other hand, by
these silver advocates, that in the silver
using countries Of tho world. such as
Mexico, Japan. China and India, indus
tries arc in fiourishing condition and
hence the change TO a silver stsndard, if
made by the United States, would be
attended by similar industrial improve
ments. But those who make these state.
ments fail 10 inform their hearers that
tho manufacturing activity TO which
they refer il brought about and made
| possible by tho payment to wage carners