Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1896-08-21
BLESSING OR CURSE.
When Silver Was Demonetized
Farmers Owned 73 Per Cent of
the National Wealth-Now
% Per Cent.
An Eastern Manufacturer Proves
Conclusively That the Single
Gold Standard Has Proved
Curse.

/ read sample copy of the Penny
Press of date Aug. 5, for which receive
my thanks. Your paper; to my notion,
has the right ring to it.. am lifelong
Democrat and a retired manufacturer. II
have lived about II years in the largest
manufacturing center, and it has been
my experience that there are good men in
all parties. That experience teaches me
that argument is more forcble than
assertion.
We have among us good class of peo
pie who are frightened because there is a
prospect that free coinage of silver will
be restored as it was before it was de-
monetized in 1878. Now these good peo-
pie, many of them, are as old as myself.
They seem to have forgotten that silver
and gold were coined for more than 80
years, and that the two kinds of money
worked harmoniously together all those
so years. The experiment of the use Of
the two kinds of money for so many years
ought to be conclusive proof that the two
kinds of money would work harmonious.
ly together again. But they are told
that to restore silver coinage would be an
experiment. and very disastrous expert
ment. Now, as I see it, the experiment
tai part was passed through during the
80 years that gold and silver were coined
on equal terms, under the same laws.
But the one fact about which all are
agreed, is that silver was demonetiZed in
1878. Since 1878 we have experienced
what we never did before. Has the ex-
pertinent of demonetization proved a
blessing or curse? At the time silver
was demonetiZed the farmers owned 73
per cent of the national wealth. Today
they own about % per cent of the ma
tional wealth. There must be some
cause that has produced such a change.
Can it be traced to characterization
When silver was demonetized the bullion
value Of the silver in the silver dollars
was worth lO3 cents, yet that silver dol
the gold dollar, was demonetized. just
why the more valuable dollar should be
demonetized, if the bullion or intrinsic
value decides the value or honesty of the
dollar, / cannot see any justification.
But the result is what we are interested
about. Today the bullion value of the
silver dollar is about SO cents. Now the
question arises-how can that effect the
prosperity Of the people, especially the
farmer
The farmer raises cotton, corn, wheat,
etc. The farmer raises more than can be
sold in the United States. The farmer
must have a foreign market for his sur.
plus product. The marine merchant
buys the product of one nation and sells
it in another. Cotton, corn, wheat etc.,
are raised in other countries and silver
countries too-that is, where silver mon.
ey is honored. The marine merchant
knows the value of silver in all the coun.
tries. He knows that he can buy silver
bullion in the United States for SO cents,
and bay with it 100 cents worth of cot.
ton, corn, wheat, ETC., ia a silver nation.
That puts the United States farmer to ~
cents disadvantage with the silver ma
tion farmers. The silver ration farmer
gets his pay in the silver money his coun-
try honors, and thus secures the market
for his cotton, corn, wheat etc., and is
happy. The United States farmer sees
the silver bullion going out of the United
States instead of his cotton, corn, wheat
etc., and he is not happy-and how can
he be? The United States farmer has
not prospered. and how can hee He is
losing his fair share of the national
wealth, and how can he help it!
II the millions of farmers cannot pros-
per. how long can the other millions
prosper?
If the millions of farmers and millions
of other people cannot prosper-if they
cannot prosper and buy literally of the
manufacturers. how can the manufactur-
ers prosper? The manufacturers cannot
sell them cloth freely, and how can they
when the millions of people are reduced
to condition bordering on serfdom and
cannot buy literally? The importer can
not sell for the same reason-the millions
of people are so near serfdom.
What is the remedy? Restore silver
money as before 1878. and bullion silver
will be worth 100 cents, and the farmer
will see his cotton, corn, wheat, etc.,
leave the United States instead of silver
bullion. BROWN s. WooD.
Orangevllle, R. l., Aug. 10.
MONEY TO LOAN