The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1896-08-15
TRIBUTE TO ENGLAND.
M Debtor Nations of the World Onerous
Tnxed t Support the Gold

TRIBUTE TO ENGLAND.
The Debtor Nations of the World GENEROUSLY
Taxed to support the Gold Standard.
The demonstration of silver was
conceived and carried out by the cred
ttor classes intent on increasing the
purchasing power of gold and thereby
increasing the value of all debts. Just
as gold has appreciated and prices
have fallen, an unjust tribute has been
lain on all debtors, and this tribute
the creditor classes have enjoyed. The
1iscarding of silver as a money metal,
leading to the appreciation of gold and
consequent fall of prices has doubled
the quantity of produce that we must
export in payment of interest charges
to our foreign creditors. We are re-
quired to give our foreign creditors
two bushels of wheat and two pounds
Of cotton where justice requires but
one. The labor cost of producing cot
ton and wheat has not fallen with the
fall in price. It takes as much ex-
penditure of labor and energy to raise
the bushel of wheat and bale of cotton
to-day as 20 years ago, yet the debt
paying power of wheat and cotton, as
of commodities in general, has been
u III hdAL DN NhO u III DIACCog n ldll
due not to cheapening of production,
not to any natural increase of compe-
tition, but to the appreciation of gold.
And this appreciation of gold has been
engineered by the creditor classes with
the purpose. of depressing prices, and
thus doubling the sacrifice of labor,
and the products of labor, which their
debtors must surrender to them in sat-
isfaction of their de BITS.
Thus, when their debtors have re-
NAMED solvent the creditor classes
have been benefited by the fall in
prices. And in Great Britain the
money lenders of London, or rather
The tr~afickers in credit are all power
full. To the creditor classes of Great
Britain the whole world is in debt to
an amount estimated by none at less
than $40, 600, 900, 900 and by some as high
as $50, 900, 900 900. Some idea OF the
immensity of the Indebtedness of the
rest of world to England can be found
by a study of the trade statistics of
Great Britain. AS we had occasion to
state recently, Great UBritain's pur-
chase of commodities for the year 1895
exdeeded her exports to the value of
ESQ, 547, 693. This much more she
OOuR HI LDdh u SOiQ, yCt SIX vas hOb
called upon to export any gold in pay
ment. On the contrary, she imported
gold to an amour of e14, 1886, Ills in ex-
cess of her imports. And why? Sim
ply because the worlds indebted
ness to London on COT of
interest payments and freight earned
by British ship-owners from for
eigners, and representing interest on
British capital invested in ships and
placed at the service of others, more
than offset the immense balance of
ei30, SAT, 500 incurred on account of
purchases made by Great Britain in
excess of her sales So instead of En-
gland being called upon to export gold
in payment for her tremendous inn
ports of merchandise in excess of ex-
ports the United States and other
debtor nations, failing to export COM
modities to n sufficient volume to meet
their Indebtedness in entirety, were
obliged to send her gold for the bal
ance. Here, then, we have a tribute
of the debtor nations of the world to
the creditor classes of Great Britain of
over 500, 900, O00-a sum representing
at -four per cent. interest on a principal
of SIT, 500, OOo, 900.
Such is the tribute the debtor ma
tions of the world are under to Great
Britain. The further prices fall, the
greater will be the number of bushels
of wheat, of pounds of cotton and
wool and of other products hat this
500, 600, 900 of annual tribute will buy
and the greater to debtor nations will
be the burden of this tribute. The ap-
of gold which has cut prices
in half has in effect practically
doubled this tribute.
We pay the interest on our foreign
to our British creditors by exports
of commodities sold in England. The
the prices get, the lighter will
the;burdens of our Indebtedness; and
the opening of our minis to silver will
our producers to get higher
Howl? Simply because the in
demand for silver caused by
the opening of our minis to silver and
the decreased demand for gold due to
The throwing upon silver, equally with
gold, the burden of effecting our ex-
and supporting our credit fab
ric, would cause the gold-price of
silver to rise until the parity be-
tween gold and silver at the old ratio
be restored. And, just as silver
rose, the cost to all g~old-using~ peoples,
in sil~ver-using countries and
with silver, would rise with
g~old-price in silver or silver ex-
which they have to buy and
send in settlement for purchases made
such countries.
So, just as silver rose, the British
would turn to us to make the
purchases of cotton and wheat and
other produce he has bought, since the
characterization of silver, in ever-en- !
volume, from countries in
which gold is at a premium as meas
1red in their cu%rrencies. Consequently,
he price our producers could demand
or their products would increase. and I
.ust as the prices received for our ex- !
ports rose, the burden of our indebted
would be l~ightened. Thus, by ,
our mints to silver, we can es-
ape bankruptcy, which, if we adhere
% h constantly approaching gold '
,tandard is inevita hle -American 7