The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19
WE CAN'T BE A JUDAS
AMONG NATIONS.
Secretary j. Sterling Morton
Speaks in Nebraska City.
American People scorn Those who'd
Applaud the Crucinxion of
Our Credit.


Nebraska City, Neb., Aug 1.--Secre-
tary of agriculture j. Sterling Morton
delivered an address on the money ques-
ton in the opera house here tonight.
An immense audience was present. II
was non-partisan meeting in the sense
that republicans and democrats who
stand for ''sound money" made up the
larger part of the hearers. Following
is synopsis Of his address:
1--WE are told that plutocrats or money
lords OF the country are endeavoring
to crush the plain people and that we
are debtors ground under the heel Of
the eastern creditor. Is IL probable
that owners of money are endeavoring
to bring about state of affairs which
shall ruin those who already owe them
money and prevent their ever recovering
their loans? Having established silver
as our measure OF value and medium of
exchange, all who buy of us will pay
us in silver, all of whom we buy will
demand of us gold. and we will pay the
premium on that metal.
To-day Mexico Is on a silver basis.
A draft on New York, which is the
equivalent of gold, is worth premium
of 81 per cent. The reason of this
premium is that Mexico must pay the
difference between her dollars, not
floated at n parity with gold, and our
dollars, which, up TO this time, are held
at that parity by the pledge of the
government, by action of the policy of
the treasury and by the courage OF
Grover Cleveland, president OF The
United States.
I'm Mexico the imports are still en-
HANGED in value because the importer
pays n sufficient price TO cover the
probable fluctuations OF silver in the
London market. The exporter buys as
cheaply as possible to meet the same
fluctuations. So silver country is be-
tween the upper and neither milestone.
The imports are enhanced and the ex-
ports nre diminished in value. A maxim
which is almost an axiom in political
economy is found In Mcleod and reads
thus:
The relation OF supply and demand
Is the sole regulator of value. This
rule is infiexible. memorable and always
vigorously operative. 1t applies TO salt,
starch, silver, gold, soap, horses and
oats. In fact, IL applies TO every saleab!e
thing on the face OF the civilized globe.
And this accounts for the decline in the
commodity value of silver.
"Modern methods OF treating ores
have increased the supply of silver un-
til IL is out of proportion with the nat
ural demand for silver, and the Bland
Allison act and the Sherman act show
that artificial demand cannot be so
treated under the circumstances as 20
uphold the ancient price Of that metal.
Neither national bimetallism, rs IL
is termed, by the United States, nor BIZ
metallism agreed upon by all the civil
lied world powers OF the earth, can fix
and maintain the price of silver in gold
at one ounce 10 the latter TO sixteen
ounces of the former, when IL exchanged
everywhere as bullion at thirty-two TO
enc. Will the advocates OF the free
coinage OF silver at sixteen to one tell
us how the silver standard can benefit
both the producers and consumers OF
farm products and simultaneously raise
the value of silver for the mine-ow ner
and lower the value OF the dollar for
the debtor? The debtor class ~ not
made up OF farmers, mechanics aU1 la
borers.
Briefly, the condition OF the Aneri-
can farmer is shown by the fact that
he owns 1864, 46i farms valued at more
than $4,000. 100000 in aggregate and
at an average OF s.. 900 each. The house
hold OF the farmer averages six per
sons. The rural population OF the
United States last year fed the urban
population, furnishing them with
cerenls, meats, vegetables, fruits, milk.
butter, cheese and poultry. This urban
population is SO per cent of all the people
OF the United States.
Thus IL seems TINT the ~ per cent.
who live upon the farms, after feeding
and clothing themselves. fed more than
100000 of the denzens of villages
md cities. They did not furnish this
food gratuitously. and they will not fur
nish 10 ut loss. During the same year
the United States exported i'm products
and domestic commodities and mer-
~ gfsosVVosNNNs nt
value OF the agricultural products I'm
cludcd in that sum was S553.215,317.
1T Is seen by the above that the
American farmer fed himself and
clothed his family, then fed all the viii
lage and population OF the union, and
after that sold In the worlds markets
more than 100000 worth OF sur
nlus Droducte How then can the 40
per cent. OF the people OF the United
States which feeds the remaining So
per cent. and then furnishes more than
60 per cent. of the total exports OF the
country be making less profits than
those whom they feed. when the lat
ter supply only 81 per cent. OF Amcri-
can exports?
"This republic Is not Judas Iscariot
among civilized nations. IL refuses to
betray honest dealing. IL scorns even
thirty million times thirty pieces Of sill
yer, and II compelled by It's Judgment