The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1897-09-17
MExtcols TROUBLES.
& Binaneiei and CopsmexeiaI Crisis
EnI "a farae.

MENlC9'S TROUBLES
4 Binaneisi and ConsmeFesaI Crisis
ana Ets Cause.
City Of Mckee Exchange On NsW York
rose Monday Oh the fresh drop in silver TO
49,, ana IN some cases 40 Was asked, Bank
srs were il doubt as to what cate to make
Il view Of the condition Of the silver
market. Dealings were nominal "a
change en- London went TO ~ pence che
lowest on record, ana implying Tor this
government, IL meeting the interest On its
sterling debt, a loss at the rate Of sz.l10.ty
per annum. The government can meet this
less By economies ana using the surpius
funds, bat bankers here gay the time mas
come when something must be done, and
the debt should pay lower rate OF inter-
est than six per cent, and also that Mexico
Is entitled to relief IN view OF the puncIua4
payment Of her gold interest under trying
circumstances. It Is not 70 be denied
very anxious sentiment prevails, as the
people have come TO expect 8 sun I1ttnst
decline in the value OF silver ana many
predict 1t viii be forced to q point where the
dollar viii be worth 30 points IN gold. lm-
portations viii be generally reduced and
all the interests Of business except exports
will be affected. The commercial crisis was
hardly expected as merchants were not,
as a rule, owing heavily abroad. The gov
ernment and the country are confronting
a serious situation, which is the worst Tor
many years.
The above Is a dispatch recently
flashed over the wires by the Associated
Press. A serious crisis exists in Mex
ice, and that, too, because Of that coun-
try's bimetallie standard. This much
cannot well be denied. The gold stand
ard champions seem indeed to have
scored a triumph. Mexico faces a
financial and commercial crisis because
she cannot keep her two money metals
at a parity. The logic is sound and
clear.
But looking again the logic may moi
seem so clear. Witnesses in court are
required not only to tell the truth, but
the whole truth. A half truth is often
times a lie, and SO it is in this case. We
are told that fluctuations il the price Of
silver has brought about the critical
situation, but goldites will not tell Us
what has brought about fluctuations.
Our European creditors naturally have
no great desire for us TO know that
their own Vaccinations have succeeded
in making the great disparity of the
worlds two chief money metals.
What has caused the vast slump in
silver? No more silver is being mined
than has been in thepast. More of it is
being used in the arts and industries
On the other hand, new gold fields are
being opened up, and vast quantities Of
the yellow metal are being thrown on
the market not only by. recent discov.
cries, but also by the improved Proe
esses of mining and extraction. It b
legitimate question that is raisedl
Is it a natural law that is responsible
for the fuctuation9 Goldites have failed
to explain the fuctuation, and until
they do it in a satisfactory manner
Mexico in distress cannot figure in The
argument.
Mexico, silver Mexico, by the comics
sion Of the New York Sun (whose gold
standard convictions were so strong
during the presidential campaign as tc
cause that erstwhiIe democratic organ
to flop to the support of a republican
candidate), Mexico only a few weeks
ago was in food of prosperity. New
railroads were being builded and for
eign capital was fast seeking invest.
ment within her boundaries. During
this period her currency was on bi.
metallic basis.
Recently by lie judiciously circu-
lated in the New York papers certain
railroad stocks of the Vanderbilt family
gained enormously in their earning
power until the lie was given emphatic
denial by a rival moneyed combination
The moneyed interests are not quar-
reling over the gold standard. They
are agreed upon this one point, that il
gives them greater opportunity to plum.
der and squeeze the people than any
other system ever invented. Is il
strange that these interests should now
be able to send gold a-Iiting to the
enormous premium which it hal
reached? The money power is with
out heart and without conscience
Would it not be strange were they not
to exert the power they have.
In London the price of silver has beer
arbitrarily fixed every day for many
years by a few shrewd financiers. TIL,
New York exchange follows the Londo1
bulletins. Mexican prosperity on a sill
yer basis has bothered these Londor
money sharks, and they have simply
decided to put down the screws a lfttl,
tighter. Japan and Peru have beer
forced to adopt the gold standard; now
it is Mexico's turn.
We need sound money and more of IL
The money that has stood the test o,
time and that benefits the people i,
based upon gold and silver, coined with
out other limit than that imposed By
nature, at the ratio Of fifteen and a hal
or sixteen to one.
The methods Of Wall and Lombard
streets viii ultimately come TO light
and right must triumph in the end
This is our hope and our encourage
ment.
Largest Gold Deposit Ever Made.