The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-01-28

NO RENEDY WITHOUT SILVER.
If the gentlemen who maintain that a
reformation of the tariff on more protec-
tive lines will relieve the so-called en-
barrassment of the treasury, stop the ex-
portation of gold, increase the revenues
of the government to a point which
would render them adequate to its needs
and restore business activity and pros
perity, would give the question more
thoughtful and careful study than they
have done, and would be honest with
themselves and the public. they would
see and acknowledge that no possible
adjustment of tariff duties alone can ac-
complish these things while the country
is in the transition period between BIZ
metallic and gold basis.
1t might be possible a few years later,
after every evidence of bi-metallic cur
rency has been obliterated and all prices
have been firmly established on gold
basis, but even that is problematicaL In
the meantime the government would be
sunk hopelessly in debt and the people
bankrupted.
While the balance of trade is against
US gold will be exported While gold is
exported. under the present system of
redeeming government obligations in
gold, bonds must be issued to get the
gold. The balance of trade must re-
main against US as long as the present or
a lower range of prices is maintained
The level of prices can only be raised,
the balance of trade turned in our favor,
the outflow of gold stopped and the reVe-
nues increased through an increased
commerce, by resuming the coinage of
silver.
With silver restored a tariff can be
made effective, both as a source of rev.
enue and as a protection, but not other
wise.
Mr. Carlisle says that the adverse trade
balance is caused by diminished exports
of domestic products although by lit
tie research he could have sscertained
that such an assertion is contradicted by
the facts.
It has already been shown in these
columns that the exports of cotton in
1895 were largely in excess of these in
1894, and that the exports of wheat were
but slightly diminished, and if we had
received the same prices for these two
staples in 1895 that we did in 1894, the
difference on these two staples alone
would have been almost enough to turn
the balance of trade in our favor and
stop the expectation of gold.
And, as with wheat, so with -four. Our
exports decreased in volume from 49,
800, 533 barrels to IL, PCS, 1872 barrels, or
less than 10 per cent, but the value de-
creased from $69,271,77O to $51, 651, 928,
or over 25 per cent.
The total value of our ten principal ag-
riculturaI exports, cotton, wheat, wheat
-four, corn. bacon and hams, lard, pork,
beef, tobacco and cheese, is given as
$51O,012,6 $50 for 1894, and $452,7I9,941
for 1895, decrease in the value of these
exports of $57,292,7 45, or 11.2 per cent;
but this decrease was not due to dimin-
ishad exports, as we have shown in the
case of the most important exports, but
solely to the fall in prices.
Because of the lower prices ruling in
1895 than in 1894, we received $99, 756, 4O4
less on our exports of these ten commo-
dities than we otherwise would In the
face of an increase in the quantity of
these ten articles of agricultural export
of S15 per cent, the total value decreased
11.2 per cent
Honce it must be apparent to thought
full students of economic principles, IN
biased by partisanship that no RENE
dy for existing conditions can be sue
csssfully applied until the cause of the
trouble can be removed. As it is herein
made clear that the cause is low prices,
and as il is we'll known that the only
thing that can permanently increase
prices is to increase the currency, let us
drop everything else until silver is re-
stored. The fact that there was a suf-
fcient revenue under the Mckinley bill
to meet the governments require
ments and balance of trade in
our favor, does not prove that the same
conditions would prevail now, were that
law restored, because the Sherman silver
law was repealed at about the same time
that the Wilson tariff was enacted
and it is that which has done the mis-
chief, and not the Wilson law, which
was so much of Republican protective
measure that the president refused to
afix his signature TO it.
A GREAT plant is going up just now