Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1896-10-15
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.0'v, ano tne sherman act. requir.
ing the purchase Of about fifty mil.
lions Of ounces Of silver a wear. MA.
passed. This wac not coined Nm,
paper issued uponit.
The gold spectators, wers :.
work, and another financial panic
was precipisated. The gold.stand.
ard people, who had absolute con.
troll OF both. parties, repealed the
Sherman act. inlSs3, but made NJ
provision for the coinage Of silver.
Since then We have had hard time.
and business depression. The value
OF all farm products have declined
and have reached a point that makes
farming improbable and thereby
! depressed the value Of farming
lands to about one half their former
price.
! In 1873 farming paid, but ever
since there has been almost a ste.dv
decline in the price of wheat. corn
cotton and tobacco. Measured in
these products taxes are nearly
three times as high. debts have been
trebled and interest also.
10 pay taxes nearly three bushels
OF wheat are required to pay what
one would have paid in 1873 and il
taxes three times as much corn or
oats or cotton or tobacco.
All of these commodities have
fallen in value just as silver bullion
has fallen in price. The demand
Tor silver having been cut of. the
price has fallen.
The silver in a silver dollar vii,
buy as much Of these farm products
as it did in 1873. The gold in a
gold dollar will buy more than
twice as much.
When the volume of currency is
decreased, prices fall; when it isin-
creased, prices rise. This il a law
that all writer's upon finance recoe-
nize. When silver was denied free
mintage the volume of.currency was
cut down one-half and We have seen
The vsiue of farms and farm pro-
ducts fall one-half.
We are on a gold basis, and there
is not sufficient amount of gold
for the business of the countrv
Mckinley's platform admits this.
but believes the United States can
not relieve the situation without
the aid of Europe.
Mr.. Bryan's platform says there
'snot.enough is gold to base sufficient
volume of currency upon, and pro.
poses to make silver basic money.
and declares we can do it without
waiting for the consent OF Eurone
to allow us to regulate our own
affairs.
Bismarck, the great German
statesman, says bimetallism should
prevail and there is growing senti-
ment in Europe for a return to it.
and that il the United States leads
he has no doubt our action would
have great influence upon the ma
tions Of Europe.
There is one thing certain, Eng
land will never consent to bimetal-
lism by international agreement,
and IL she does not neither will
France nor Germany. But il the
United States takes the lead there
can be no doubt Europe will have
to follow.
There is another thing that ia
certain-when the United States
adopts free coinage of silver and
gold at the ratio Of 16 10 /. and
coins silver at the value OF o.. 20 an
ounce, 81, ,29 an ounce will be the
worlds price, and silver will be
worth that much the world over.
Mckinley, virtually, proposes no
change. IL he is elected, falling
prices will continue, and forty cent
wheat and correspondingly low
prices for other farm products NAV
be expected.
Nr. Bryan proposes to restore
silver as basic money, double the
volume Of currency and consequent
ly raise prices.
In 1873 mortgages were scarcely
known in Carroll. The mortgage
debts now amount TO about o., ,OO0,-
600. Ii these debts are to be paid
there must be q change in our fnan-
cial system.
Farmers Of Carroll, you will soon
be called upon to vote upon this
question. Remember that Nc
Kinley promises no change from
the present financial condition;
Bryan does.
All legislation for the past thirty
years has tended to fleece the farmer
for the benefit Of others.
liz Bryan 10 elected legislation
Il III L.