The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1897-08-19

VicumSF LOOK on the map OF your
country and mark the area of dis
tress as indicated by the railroads that
have been placed in the hands of
receivers since 1898, comprising
nearly one-third of the entire mile
age of the country. You will find
it in the mining belt, comprising six
States and three Territories, whose
basic industry, with which all their
industries, agricultural, commercial,
railroad, and banking, were correl-
ated, is suffering from the decline of
silver. Mark the wheat belt of the
South and you will find that in those
areas devoted to mining, to wheat
raising, and cotton growing more
than one-half of the local railroad
mileage has gone in the hands ofre-
ceivers since 1893.
Low-priced products will not stand
high rates. Producers who produce
at loss can not buy goods that re-
quire transportation, and so the rail
roads have suffered in the transporta-
ton, of the products of the region
through which they pass and of the
goods which they return to the pro-
ducers in exchange. The gradual
fall in the price of silver has for
twenty years seriously affected the
Western and Southern States, as
their products have been compelled
to compete with the product of
silver-standard countries, the
prices of which, stable in silver,
have gradually gone down in gold
until their price is now one-half of
what it used to be.
THE EAST WILL ALSO SUFFER.
1t is true that the New England
and Middle States suffered but little
until 1898, and then largely because
of diminished markets in the
South and West aud loss from their
railroad securities and other interests
in the South and West They suf-
fered the least because they were
creditor States whose margin of
security did not disappear until 1893
and also because they were manu-
featuring States whose industries
were protected against cheap Euro
pean labor, thus enabling them to
monopolize the home market.
They have not yet suffered from
oriental competition, for the manu-.
factured production of those coun
tries, stimulated by the appreciation
of gold, has thus far met only the
requirements of the local markets
although it has seriously affected
English aud German manufacturer
who used to supply such markets.
but the Eastern States will soon suf
fer from oriental competition. Jap
anese products will naturally seek ,
country whose labor cost is th,
highest. No tariff short of absolute
exclusion will protect the Eastern
States against this invasion, and ex
clusion is impossible for the Western
and Southern States will not con
sent to a policy which surrender
] their products to the competition o
{ silver standard countries whilst
protect, from such competition
the manufactured product 0
Eastern States. 1t is evident that
with view to protect the product
of this country, whether from th
farm or the factory: against the pre-
ducts of silver-standard countries
: our policy should be by increasin
the use of silver to pull up its valu
, and thus by the use of competitiv
b metal to pull down the value of gol(
By doing this we will take away {
! least half of the efficiency of the con
peting labor of silyer-standard coun
{ tries.
y We therefore claim that the fri
II coinage OF silver at a ratio of 16 to
r by this country is practicable; that
d will resore the old relative value
N silver and gold, release this count
,r from dependence upon foreign gol
II impair the competitive efficiency
o. the cheap labor of silver-standa
countries, restore the value of o
agricultural products with which '
- pay our debts abroad, and save IL
VI country from a manufacturing col
petition that will prove destructiv
>. This question has not been foug
n out in the manufacturing States
a. the country as it has been in t
% mining camps, but the manufactl
:, ers of this country will learn IL
~, their interests are in common wi
'e' those of the general producers of I
y, country, and the oriental compt
ce on which has been so destructive
ol? the farmers will, in the end, be /,
ly structive to the manufacturers.
he