The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-03

loNtu excessive prOductioh
facture OF those articles. has been NAM
Test i'm the excessive production or agri-
cultural products. II Is thc oiu iamil.'i
law Of supply and demand. In my state
Of New York hay Is selling al so per toh'
| last wear II WAS $40 per ton. DO our SILVER
| fricnsd attribute that TO the demoneu-
| cation Of sllver2 They oush, wcnrs n
wish 10 he consistent. SnN.a re 81 M
the pockets Of the mine-owners sie U. nv
rot, 20 Western farmers. wnat MY
yys,t & rrosperous conditions "hl'h ""i
mt silver dollars In their own poIn -
! dollars which when taken ou' vi"
just rs much as gold 1T"a, LOSER.
However nuch the prices or dgricul."ta'
| nrcducts have de,lircd they havs hCt "
ciiued more rapidly tnah tnt ntJi,, &c
| which the farmer buys. nor 80 laPruG -.
the freight rates which ptomo 81 the
ket fer his ptctucts. Inc 49,.
Naticral Fcsrd of Trade shows mat ths
| avefage charge for carrying 4 Ton VI
freight enc mile on thirteen -,cS
Important railroads Of the Oni'er ~
has fallen from Dos cents m SS"S LII
- Ia $50 :, 10 cents I'm ISM. You VIII
-. zoo ma, In 1861 IL cost $50 10 trans
fer one ton 100 niles and only s'''o III
1SgS. uo,, ~
In 1872. according 20 Government re-
,or,s the rrice Of transporting enc bushel
~ wheat from Chicago TO New iolA ~
iake and cunal was q 41-lo cents W
lake ana rail, IS Certs; by an ran, ~, :, iuo
cents. In 1875. by lake ana -,
cents. by lax ana ran, " ''iV |'"'
by all rail, Il Il To- cents. 10.
No such prcrCrtiOnate reduction hdS
hCcn seen IN the price OF NnSa1 - - ra
The average TI.ce q Whea- III low W"
~ cents per bUshel IN golu' lo-uaS -
50 cents-a reduction since 1871 scarceiy
halr as great as the reduction OF freight
rates-Nr. Bryan'g assertions 10 the CON
trary Notwithstanding.
nfe AtlaT tic cable has PRODUCED the
same result as regards the rate OF lhoelr
est on money Ia the opening OF ne"
lands. the e~xtersion or LrtnsPOrtauon
tIciiities and excessive proilrtoh ha1e
PRODUCED i'm the prices Of wheat and corn;
II taps the money supply OF the "oi'4
and brings 81 to CLi service.
So long a. We pay our Jep-S III wy
kind Of money we borrow the late or
interct Will ccrtinuc 70 cheaper TOT me
farmer, merchant. anuta5t1r"r auu
mirer and for tfCse engagel III any ol"c'
industry I'm uis country.
our silver frieI DIS claim mat inc golu
dollar has gCne up 10 200, "hie SILVER
has neither gene M nor iowa;
/ answer that in 1913 tue Government
rate OF interest was q per cent; me idte
ln ann of the western cities was from
1 to y per cent. per month, ana MONEY
was hard 10 got at that. BY TINS same
Atlantic cable. reaching to money In Eng
hand. Germany. and Holland, the rate
Of Interest on our Gcyeri,Wen- uOnus mas
hcca reduced 10 T. ON 3 10 ; II per cent,
and the rate OF interest I'm western clues
does not row exceed from u 10 : per
cent per atuum, and gool mortsases
haVe been f-ade in Chicago AZ . per cent.
The Atfhirou. Topeka ana santa re
railroad. the HJrlir gtOn and Quincy. the
Pennsylvania. al had bonds twenty-five
years ago bearing from I TO 10 per cent
interest per arLrm. Who paid That IN
terest? The farmer when he paid his
e.. q ra..a fa-AA Mt IN
these bends placed in LonlOn ana IN
Europe is on an average 4 per cent. per
anni.m: sc that the man who had gold
TO loan IN this country or IN europe IN
1873 could get rearly double Inc rate or
interest Der 0nnum that ne can get to-
day. is not the value Of the gold dollar
regulated by the price that you can get
per amum for it2 II this - the case,
then the price Of the gold dollar Is not
POS. as our silver Giends claim, but has
been reduced by Cne-half. because II VIII
only bring TO the owner abolt one-half
Of what II did twenty-five years ago.
There Is a ratLral reason for this reduc-
ton I'm the price OF gold. Why. last year
the world produced over S2UO.rp,uDp OF
gold. nearly Oue-fourth OF which 2aS
PRODUCED in tho United Stases. and the
production is steadily increasing year by
year. Now, this S20u $4,000 mounts 10
So. 100. 90 mere than all the gold and
silver produced IN the worli in 1873.
~ IsINlaHN - AlIIA tOA.N I-fN
The rate Of interest in every country
where tley lave a solid and fixed tand-
ara is nearly half Of the rate prevailing
in any silver country. \ good illustra-
tion is found I'm the adjoining States Of
British Guiana and Venezuela. in Brit
ish Guiana whore the standard IS gold.
the rate Of interest Is from ! TO q per
cent. per annum, while In Venezuela, a
silver cOurtTy. the rate IL from 10 10 4
per cent. and tits Will follow I'm every
EHNNar nlrHr fry Tho reason * TNUln o
When you lean money under a fixed
sta heard. and agree 10 pay under the
Same standard. the lender can afford 10
lean his money at a cheaper rate than
when he leans il in a currency that may
dcpreciate before the return OF his money.
a silver standard would work p%articu-
lar injury 10 Wage-earners. The rs,h AMI
w~ell-tO-dOl can usually take care of them
serves. But the man who has "a vital In
tcrest In every Gays wages. whose family
depends Upon these wages for its bread
and meat. is the person first 10 feel the
injury and lost TO feel any possible benefit
frOm an imitation Of the currency. Not
only would he for one year, or TWO years,
or PERHAPS many years, feel the effect
CT the prcstrati0n OF industry and bust
ness which would at least be tho first
result of a change TO the silver standard,
but when that wore away, as II probd-
ily would IN the course OF time, and the
full effects OF an imitation Of the cur
ANHN|N NHILALA -Ef8
gan to be manifested. he would find the
prices Of food, OF clothing. Of rents rails
inf. but his wage would remain s'a-
ti0naTy. for il IS an economic fact that
IN an era OF rising prices wages arc the
last 70 feel the influence. SO long as
steady work Is assured, the labOrcr is
much better OF Under the condition of
falling prices such as we haze had tOr
many years, as the cost OF prediction Of
commodities las been decreased By new
Intentions and improved methods-Of man
ufacture. for the necessities or life and
even its luXUries have become cheaper,
while by reason of various influences
wages have risen. In 1870 the average
wages paid TO lahCiers was 1902 per year.
IN $3.50 these had increased 10 SiS5. more
than 30 per cent, while during the same
period the prices OF cOmmoditisS had fall
EN-. tho silyer.tes tell us. from - to 40
per cent. Under the operation OF = gold
standard. therefore no matter what its
injuries mas have been 10 other classes
of citizens the labOrer il AZ least - per
cent. better of than he was in 1870.
Does he wish 10 reverse this condition
and face lower wages and higher cost OF
ilNirgt ! think these facts have only 10
be presented 10 tho attention Of the work
ineuen 70 convince them that any griev-
ancc, which they may be persuaded they
have cftnot be cured by the humbug
remedies prescribed by Or. Bryan.
SOME WHO WOULD SUFFER.
There are some classes OF employees who
would be especially affected BY a oliver
STANDARD. ! refer particularly 10 the 500
coo men who get Il cir wagei from steam
ana street surface railroads. Most OF the
money invested in these enterprises is
represented in bonds whose principal and
interest are payable IN gold. The annual
payments rcqt ircd by thess obligations OF
indebtedness are hundreds Of millions Of
dollars III gold nos tn a nFEnIIHm tho