The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1897-07-20

merce and industry should not flourish
when prices of commodities decline and
debtors and taxpayers are In distress
When prices decline day by day mer-
chants hesitate to purchase and manu-
facturers IN make. and then the gen
eral depression follows This ls true In
England, where commerce and indus
try do not prosper and cotton and other
Industrial businesses have been Re-
tarded In Germany. also. the same
depression was felt and a silver COM
mission was appointed to investigate
this matter
Decline Of Rate Of Interest.-When
prices decline and commerce and in
dustry are depressed, the apprehension
OF failures prevents capitalists from in
vesting money in new enterprises h.
sides, as capital invested In silver
countries viii he Withdrawn. more
money viii be- left unemployed. the de-
mand will decrease and at last the rate
Of interest win fall.
Distress of Furmcrs.-Thr income
of farmers decreases. and the prices ~
land fall together with the fall in
prices ut agricultural products. This
distress is, moreover, enlarged by the
heavier burden upon taxpayers.
DeCrCas. IN Revenue. revenue
from taxes on consumption, from in
come tax, from posts, telegraphs and
railroads, Increases very slightly in
comparison with silver countries.
Distress To- Employers. rs.-Ths is
naturally the ease with the employers
who have tu pay wages and salaries To
the employees with money, the purchaS-
ing power of which has increased As.
especially, wages do not only fall with
the prices of commodities, but general
ly take the contrary course. employers
have To restrict their business. Any
attempt on their part to decrease
wages viii Ice met with strikes or some
other form of opposition.
Decrease In Demand Of Labor
This is naturally the case win the de-
preston of agriculture and commerce.
Many also 60 out of employment and
paupers and criminals increase accord
ingly.
Increase OF Imports From silver
Countries. gold countries can huy
goods cheaper from silver countries.
their consumption of the products of
the latter countries increases. and the
balance of trade with these countries
generally goes against the former.
This IL to be seen In the trade returns
Of England. the United States. Ger
many. France. etc. The capital invest =
ed In silver countries from gold coun-
tries may. to some extent. account for
this feature. but there is no doubt that
the cheap importation from silver
countries is one of the causes.
In conclusion Senator Pettigrew
says: Just what has happened In the
past To other countries must happen "a
japan. | predict that her prosperity
viii he transferred To other Asiatit
countries that are ON n silver basis
and that her farming classes will soon
begin Ia feel the disastrous result of a
decline In prices and an appreciation
of the standard of money, and this
must continue for the next few years
II. ultimately, the United States should
adopt the free and unlimited coinage oi
both gold and silver, az ratio Of II
to l. the appreciation Of the value o
the Japanese yen. which viii place tn,
creditor CLASSES of Japan at n dlsad
vantage and cause them tn AT once So
cure legislation Ia change the ratio uI
coinage and Increase the amount ol
gold In the yen, thus escaping the ~,
suit. as far as they are concerned. NJ
the action of their government at thi,
time in adopting the gold standard
| for | apprehend they will be as able /,
change the ratio then as they hav,
| been able to DO II now"
HoSFORD