Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-10-30

dollar was worth cents moro than the
silver dollar, and the silver dollar,
measured by gold, was deprecated 8 per
cent. Silver, being the cheaper metal,
drove gold entirely out of circulation
for more than 40 years.. g.. until
l834-when the government changed
the ratio from Is to to 16 to l, with
the effect seen above.
In 1860 we were nation Of over 30,-
900. 900 of people and had no silver on
hand. Now we are nation Of about
10000, 900 of people, but have 49,, O00.-
900 of silver dollars on hand.
If, with all our power, in 1860 we
were unable to raise the bullion value
of gold but per cent, how can we ex-
pect to raise the bullion value of lar
ger quantity of silver not merely 8 per
cent. but fully 80 times 81. e., 90 per
cent?
If, in 1860, with over 80, 900, 900 Of
people, we had been able to raise the
bullion value Of gold just per cent to
par, then, being ~ times as great a
people now as we were then, we might
expect to raise the bullion price Of silver
~ times as high-that is, per cent
but bow could we expect to raise its
price, not per cent alone, but more
than thirteen times 2 per cent. g., SO
per cent-especially when the only pow
or we have to raise it with is our de-
mand for silver dollars, and that de-
mand is already supplied to the extent
of $437 200, 900?
Yet, unless we succeed in thus nearly
doubling the price Of the entire worlds
stock of silver. the price of bullion must
inevitably pull the value Of the silver
dollar down, as bullion would be coined
az long as there was profit. g., till
the values met.
Mr.. Bryan has presented his beliefs on
this subject. Opposed to them stand
facts and history, and not merely his
tory of this country alone, but Of all
countries.
But it is to be noted that even if the
silver dollar did not depreciate we
would not escape a panic, as foreign
and domestic creditors believe it would
depreciate, and would consequently call
in debts and force sales just the same.
Mr.. Bryan fully admits chat panic
must result even if the silver dollar
does not depreciste. In the Chicago con-
vention he said, "When you come be-
fore us and tell Us that we shall disturb
your business interests we reply that you
have disturbed our business INTERESTS. "
And the st. Louis Globe Democrat re-
ported his saying: II think it (meaning
the .otory of the free coinage move
ment) will cause panic. But the coun-
try is in deplorable condition, and it
will take extreme measures to restore 1t
to condition Of prosperity"
Therefore panic is oonfessedly cer-
tain to follow Bryan's election, whether
silver depreoistes or not.
If. as our own experience and all his
tory show, the silver dollar must drop
to about 80 cents, the disastrous conse-'
quences which will follow will proba-'
bly, be unparalleled in our history.
Well wager that the Kentucky fowl
which lays eggs stamped "l6 to 1" is
not q hen. but goose.
POPULlsT ELECTOR QUITS.
Not Satisfied With Democratic Treatment
Of Watson.
ATLANTA, Ga, Oct. % "A bombshel1
was exploded in political circles here by
the making public of letter from DR..
w. II. FELTON,, Populist nominee for
elector, withdrawing his name from the
ticket and pledging his support to Nc
Kinley. DR.. FELTON, was at one time
member Of congress from the Seventh
district, and has long been conspicuous
in Georgia politics. His course is con.
strued BY many as indicating that there
will be general detection to Mckinley
from the Populist ranks in Georgia on
account of the treatment of the Populist
proposition for fusion at the hands OF
the Democratic state committee.