Fair play., 1896-10-31
serti"n that gold would z" 10 Europe


on "a long vacation.
But would il. Il j. n question iha
Ias been thraahed about in dehaf
whether gold would leave tue coun
try "r not; but il il should IL w"ul'
ineviiabl, come bnck. How? u is
maxim that when the balance o
trade with foreign countries j. III oul
favor gold flows in, r,rn ai present
N"w the reinstatement ct SILVER ~
standard m"me, would Mccrs-itai,
changes in the processes nud method
of international exchange, that nui
rxb"rtati"ns w"uld he great, inrreas
rd and the balance ut trade in oIl
favor increased pr"p"riionally M.
his INCREASED cXp"rtuii"n would b'
largely of the prodnr- If the icndin.
inhusir, of This nation n-ngricu!turr
T." establish, ihi. statement i, is nee
rssary to show the manner in wlIici
the worlds price OF the leading agri
cultural staples il now fixed b,
EsglnHh, the present center nf thu
worlds cOnIiArire. Take, rs an illus
,rnti"n, our i"n,ling farm staple
whrat. England fixes the prize %
wii.n,, nni in this wn,. The l. =. j.
the grrn, producer of silver. All the
silver that j. coined an, where in the
world is coined NJ ratios var, iny trnnI
Is to to Is l 2 10 |, "r mn average "f
534 to l. The coinage value Oi
silver j. therefore Is 3 4;n | of gold
bat the market value "f silver bullion
j. M the rate rt about 81 io1 Of gold
Now the English grain dealer send
mn ounce "t gold over here and OK.
changes il for 81 "Z nt silver, "r nj
the rate of 32 tOT | , nr he bmls ouI
silver bullion right there III London
nj the same figure. lie then sends
32 oZ silver to the Argentine R"pub-
| lie, or, preferably, 1" India, an eX-
| cluSivciy silver nation where the
ratio il Is to |, and cxcliang"s the
32 ~ OF silver tor wheat ON basis of
| Is {" |; "r, in other words, his
nriyinni ounce Of gold, brirg eX-
changed tor bullion in The Y. ). and
this exchanged for silver coin in
India, ia equal in purchasing power
in the Indian market tn purchasing
power of 2 u of gold in any gold
! standard ua,ium. But to make this
Thing pinincr still, let us say thai the
English grain dealer takes n a"llar'S
worth of gold aud bn, at the present
market price 2 oZ of our silver With
tIhe.e 2 uZ silver he buys in India
AZ present price 1 bushels wheat. tie
then sells the 4 bushels of wheat in
the gold markets of Europe aud gets
in return aboni 81 j" gold. His mar
gin of Of prof, is So lnrgc. that after
irduc,ing all freight aud handling
charges, he eau still undrrsrll any
gold standard nation that raises
wheat. lie il thus able to fix the
worlds price at wheat. All this can
be done, an,i Is do"r, patti, brcan-e
England, though not herself n" rx-
porter OF wheat, r"ntr"!l- the export
aud carr, ing trade of India /; but
mO.il, brcause the difference in the
p'ire- OF silver aud gold makes il pos
-ihle. Thu- il is easy to see how the
\ American producer of farm products
il brnugh, b indirect means dirrcil,
in competition with the cheap labor
of India. \ nation Of 29O million pcn-
pie, three fourth- of whom are labor
cr- But with silver re- eSiabii.hci ~
standard none, AT n ratio of Is to |
(and | will show hat this parity can
be main,aincdD Eu9iand's nhvan'ag"
arising from her peculiar position and
49,, ~. I'LL ,..<, a.. a.,
,no. .r
a.. ,,,,I.r ,.,;,,. ~ ,,r,;,,
y, ,;,,rr ,,,, ,,., ,n ,.,,n,r c,n
r.,i.o :, n, ,,,,,G, Sho .nutJ mn,
a,,", ,.a. ,t,, ,nro e.
ill., -, ., ,nI I'm, it.,,noxch.,n..d
:, y, an :, ,rn,,iJ h., ,e,nI .h,,u,
H., ~ a., ,,.r,., anal
.,,, ,rn,,,J .,.;r ,,,,,;nn II.nc. tho
,,nrIl,a ,,,.,I. .,s ,,,,,iI J., o,,c,, :, ,h.
r,;. ,,i a,,.,.'. .,,,,,..,;,;,',. ~, MI
',a,; i. r. ,i,., t;,.1
.'r'I' 49,. >,.,;o.,, ,.,,,,,, ,,.,.I ma,
,o. IT, ',,, w. ,,,'.,,i, s,,,,,, 10
'.,',I' ;,,, ,'s, ", H.. Grain .,c
,arrt',I E,,ono Ex'n,, .,,n,,
,,,o,,,d ;,,,, i.,,,,.,,, ,L,. h,,,.,c., ,t
trade wou,d he as largely m our favor.
and gold. that ,imid. coy. soueamisi
maiden would hav. to com. RI l.ht back
here and sill down on rh.. same bench
with her solid, old, reliable. white
haired urunln,o,Gcr
,,,,.r,. ,..>r
wv" '
ID LIAR
OF all the charges. contentious. and
objections that have been made n@ainis
biueialism the only one thai appears
10 nave m"N va',ui.' or I0'ce is 'h' aS-
Scr'ion 'ha' 'n" !! 'nc =. y. s''',"u AZ
P'es'n' a"'P' "'n'''"' ". "t'n
'''r minus ~ 'ne ',,e an" ""','''.," ~
rn'hhS" "' ""'h %o'u an" r''.rI' 'hs
s''Ver money """" acpr''ia'e anu
ho' DC W"';n' nnr c''."'aa' "' ~ ,, US ','e ,''
Th'ue "' :" "'"e' ""'"' .'''' ,"e
y ca" nov a.o,c "'n''''"'" Wv r''.
pose" raw" 81 40 VI sn.'. 10 VI