Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1897-10-29
THE CHIEF ISSUE.
What George Fred Williams snys of
decentralization.

What George Fred Williams says of
| RECOMMENDATION.
George Fred Williams, the brilliant
Massachusetts leader, Is not one of
those who believe that dollar wheat
and the decline in the gold price Of sill
yer have knocked the bottom out of
the silver argument, and that the DEM
ocracy would have to shift to other
ground. lie claims that the constant
decline In prices under the gold stand
ard marks n constant shrinkagc in the
value of property of oil kinds. Hence
the wealth of the world Is decreasing In
nominal value, although vastly in
crcasing In volume, individual holders
lose, borrowers are unable to meet their
debts. and then the mortgagcc steps in
and grasps the property. In this way
Morgan and his like are wreclsing the
railroads of the country and are get
ting more and more control of the
country's resources at figures far be-
low what they ought to command. All
of this is due, he argues truly. To the
gold standard and its inevitable effect
to force down prices. lie says, accord
ing to the Illinois State Register. in an
interview:
THE more silver goes down, the more
I believe In free coinage as the only
remedy for the fall in prices. The re-
monetization of silver ut sixteen to one
with absolute free coinage, is the only
thing which will prevent the CON
tinucd fall of prices in all things. The
fact that wheat has touched one dollar
bushel has nothing whatever to do
with the real question. Would you set
tie great financial issue upon the
events of one year alone? We have
here II mere incident of bad crops Of
wheat In other parts of the world and
good crops here for the time. But
there IS no general prosperity. Where
is there any evidence of prosperity cx-
ccpt in the newspapers? Have you
henrd of the wages of any worltmen be-
ing raised? Yes, the newspapers re-
port that mills are starting up in differ
cnt parts OF the country, but what does
that amount to and how much prosper
| ity Is II bringing to the workingmcn?
Tho fact is that from the discovery OF
gold in California UP tn 1919 there was
constant rise of prices all over the
world, and there was never Il period in
human history when the chcapcnings
of the processes of production was go
Ing on so rapidly. There WAS steady
rise In prices all the time. Since 1877.
there has been II steady fall all over
the world. and the process is going on
now. This present year is no exception
to tho rule. In 1924 prices of goods fell
on IN average all over the world ten per
cent. In 1895 they fell five per cent.
more. Your idea that price, will fall
rs the facilities of production are In
creased is not sound, for the worlds cx-
pcricncc for the 90 years before 1873
proves the contrary. The fall In prices
will continue rs long rs silver Is de-
monctizcd, and nothing but the re-
onctizntion of silver will restore pros
perity. See how IT. Is In Mexico; whn.
boom of prosperity they IRE having
there with their silver money. Capital
is flowing In from every side. Guern-
sey knows whnt the truth Is. lie shows
how really prosperous they are there.
Silver coinage will continue to be the
chief political issue until IT, Is settled
right. OF course the party will make it
the chief issue this year, and it will be so
in the congressional campaign of 1898.
EX-Gov. Boies, of Iowa, does not know
where he stands on the question. He
has been looking around ever since last
spring for snmc safe position to strad-
die on, and he has 1t in his idea like
Secretary WINDOWS. But that Is ut.
terly impracticable. Nothing will ever
come of trying to issue notes for silver
when deposited Mt the mint. That
merely makes the government n deposit
tory OF bullion. 1t does not help in the
problem at all. We have other issues rs
well as silver, and I do not want
them to be obscured, but silver will be
the chief issue until there is remoneti.
zation at the rate of sixteen to one"