Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1896-09-15
BY AN EX-ATTORNEY GEN
ERALOF NORTH DAKOTA.

driven to the wall by 6tyan's
election because it will make
cheaper dollars and higher prices
should consult page $40, Rorr
land Harvey's joint debate, which
copies from the January num-
Der 1895, Dun's Review. stating
that in 1861, the first year of the
war, when we were living under
the dictation of Wall street with
low prices we had 6,993 failures,
and 1862, when we began to seek
release and prices started up a
little. but 1852 failures; in 1868,
but 405; 1864 but 500; 1866 but
$50.
In 1866 we began to contract
and increased with failures under
contraction until 1873, when they
reached 10,478. Quite a change
from $50 in 1865; 500 in 1864, and
1876 in 1863.
In 1873 we partially restored
silver and failures were reduced
in 1879 to 1858, nearly 1000 in a
single year; and in 1880 to 4,735,
nearly 5000 in two years, and
less than one-half of what they
were in 1873.
No instance can be shown
where Legislation increasing the
basic money and hereby increas-
ing and 'lessening the price of
property did not lessen business
failures in this or any other
country in any age.
In the whole three years of
1868, 1864 and 1865 the entire
failures for the three years in the
amount of property involved
aggregated less then one sixth of
the failures of 1873, the first
year after the gold standard, and
making the proportion year for
year between these two periods
in the ratio of 10 to against the
gold standard and falling prices.
These statistics are copied
from the January number, 1895,
Dun's Review; gold standard aut-
hority can be found on page $40
of the Horr-Harvey debate.
We are told that the election
of Bryan will force the foreclos-
ure of mortgages on farms and
city property. This claim is as
falseas the one that his election
will produce business failures.
Gold standard people, as a rule,
concede that free coinage will
cheaper the price of dollars and
advance the price of all farm
productions and all classes of
property. This is conceded by
Mr.. Horn in his debate with Mr..
Harvey; by Prof. Laughlin in his
debate with Harvey; by Senator
John Sherman in his interviews
published by Col. Loundsbury,
in the North Dkotar Sun-Inde-
pendent, of March 26, 1896 (then
gold standard); by. the Chicago
Times-Herald, which on August
IS, 1896, says editorially that. the
unlimited coinage of silver will
reduce the purchasing power Of
the dollar -one-half and double
the price of loaf of bread or a
barrel of flour; by the Chicago
Tribune of Aug. Is, which says:
"Free silver would raise the price
of the farmers products and
make it impossible for anyone to
buy them;" and by the, gold
standard publications which have
appeared in the Grand Forks
Herald, comparing Mexican farm
products in price with our prices,
showing the Mexican price to be
nearly double; and the general
claim of all the gold standard
press that the free coinage of
silver will reduce the purchasing
power Of the dollar, which means
that the dollar will purchase less
property, and to. the extent it
purchases less property enhance
tie money price Of property.
Let Us compare the existing
conditi Of the mort tagged farm.
er with what would be his con-
dition after Bryan's election
with these results predicted BY.
gold standard men immed lately.
follow Is it not certain that the.
object Of the. gold stand ard issto
continue low prices, and that the