The herald., 1896-09-02

United States, then for the world; for
| the attitude of the United States as the
| chief producer and exporter of staples,
as we'll as the chief consumer and i'm
| porter of luxuries, would practically
| control the world for bimetallism; as
| its action in demonetizing silver in 1873
| under British guidance forced the civil
| lied world to the gold standard. Russia
and India our chief competitors in cot
| ton, wheat, oil. rice, ETC., both together
export not much more than one-half as
much as the United States. We have
not the reports for 1895. but those for
1894 show that together they exported
$3.50, 500, 600 worth; while during the same
year the United States exports amount
ed to ST. 19,573,0O0.
Would not such change in the mon
etary system of the world mean at least
temporary financial disaster?
We answer. not of necessity. The only
danger of panic would result from ig-
norance of the philosophy of the situa-
tion, on the part of the masses of the
people; and silver financial education is
the preventive. The effect should on the
contrary be to give boom" of prosper
ity for time at least, all over the
world, but especially in theJ United
States. Values generally would ad-
vance Immediately.
What would probably be the immedi-
ate effect and its operation?
The probability is that as the election
eering progresses this fall and the silver
cause is seen to make good headway,
spectators will take hold of silver, and
its prices may advance to about rs cents
per ounce before the election If the
silver party wins, the price of silver will
probably at once spring to 80 cents or 95
cents per ounce the world over; and
then very soon silver would be remon-
etized as quickly as it was demonetized,
or quicker.
But suppose that the price of silver
should remain unaffected, as so MANY
believe 1t would, in view of the United
states being but one of the civilized ma
tions, what then would be the result?
The result would be all the more favor
able to the public of the United States
except the money lenders. With silver
the United States standard, or coined
free IL to l. and with gold as at present
double value. the effect would be equal
to prohibitive tariff of 100 per cent
against all the gold standard countries
attempting to sell to the UnitedStates:
and we should have no use for gold
having our own market to ourselves
Home manufacturers would benefit
and foreign manufacturers would mourn
the loss Of their best customer; for many
factories and shops Of Europe would fail
If deprived of the immense luxury
trade Of the United States. Sooner far
would they slightly check the inordinate
and unjust prosperity of the money
lenders and help their farmers by re-
monetizing silver. They would, we be-
lieve, follow the example of the United
States in remonetizing with even great
er haste than they did in demonetizing
1t. We would undersell them in their
own markets, on all manufactured
goods. For instance, steel rails could
be sold in England, Germany, ETC., at
$15 per ton and undersell their market.
That SIS would be gold and could be ex-
changed for nearly $50 in silver and net
handsome profits to American manufac-
turers.
Furthermore, If silver would stay down
and gold up in price, as now, the silver
countries-MeXico, Central and South
America, China, Japan, India and Rus
sia (silver standard countries) would
cease to purchase their machinery, Ships
ETC., in Europe, paying double for gold
exchange, and would buy them here at
silver prices, and save at least 80 per
cent, and the same argument would ap-
nj rny.ff ton, ,faIx
tionship between the metals. But, we
repeat, it would be impossible to keep
silver down if remonetized by the United
States.
Many fear that such conditions as we
describe would lead European nations
to combine against the United States
and determine that they would not pur-
chase from us and that thus all export
business would be stopped No danger,
we answer. They buy no luxuries from
the United States; they purchase neces-
sites only. If they refuse to buy our
oil. they sit in darkness if they refuse
to buy our wheat, pork and beef, they
starve; if they refuse to buy our cot
ton, they stop their factories and go
naked The United States is an excep-
tion amongst the nations in that, al
though the greatest in agriculture, it
has widely diversified manufactures and
has thus attained a leading place also
as a manufacturing nation able to sup
ply all Of it's own needs and to help other
peoples.
The United States is the most indepen-
dent, as will as the most intelligent and
richest nation of the earth.