Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-09-14
Speech of Hon. F. E. White,
Democratic Candidate for Governor, at Fort
az Dodge, Iowa, Thursday. August l9. 1897:

THERE IS NO TRUE COMMERCIAL
RATIO.
do not care with what an amount
OF confidence gold standard advocates
talk of commercial ratio, the obvious
fact, the historic truth is, there has
been no such ratio since 1873 and there
IS no such ratio now. If true CONNER
cial value be natural value, then truly
commercial ratio must be a natural
ratio: that is to say, it must be ra-
tho established under perfectly natural
conditions; it must be the result of
natural conditions; the conditions at
the mint must be natural; that is,
equitable, equal conditions. Whenev-
er these conditions of equality at the
mint are interfered with, are DESTROY
ed, and unequal, unfair, artificial con-
ditions are substituted, then an actual,
natural, real commercial ratio can not
be established. The ratio or result
will always be in harmony
with the prevailing conditions. This
is precisely the case with the present
alleged commercial ratio. It is not in
any sense natural, true CONNER
cial, but purely artificial ratio. The
equality of conditions at the mint, that
is, the equality of gold and silver, the
unlimited privilege of each to be COIN
ed, was destroyed in 1873.
Natural conditions, equality of con-
ditions ceased to govern; and artificial,
that is, unequal conditions, were sub
stituted and the result, the ratio is in
harmony with these conditions, it is
an artificial ratio; being an artificial
ratio it cam not at the same time be a
natural commercial ratio; but as the
force of truth can often be best pro-
claimed through an illustration, will
take the liberty to use one here which
J. have used before.
ILLUSTRATION AS TO RATIO.
1 want to suppose the people of your
county to be an isolated community,
so entirely cut off frem the rest of the
world that no communication or inter-
course is maintained; SO that to all
intents and purposes You are little
world unto yourselves. We will fur
ther suppose that you are very prim-
tive people, unaccustomed to the ways
OF the world and unacquainted with
the methods and arts of civilized life.
You are not even familiar with the
wearing of clothing, but wrap about
you the skins of animals after the
manner of your remote ancestors.
Let us now suppose that some hot dog
day, stranger somehow finds his way
into your community. Seeing you
suffer the effects of the intense heat
he asks you, "Why don't you throw off
those hot pelts and dress yourselves in
cool. cotton clothing such as I have
on?" You assure him, his is the first
cotton suit you ever saw, that you are
entirely unacqHainted with it's use.
He thereupon makes proposal to you,
to allow him to bring in some of his
people who will build cotton mill
and convert your raw cotton into
cloth. We will suppose you have a
climate and soil that will produce cot
ton, and the tempting proposition of
the stranger is accepted. Springtime
comes; you plant cotton and the mill
is built. Cotton cloth is soon woven.
You permit everybody to plant cotton
and allow other mills to be built. You
put no restriction upon the cotton in
dustry OF trade in any of it's various
stages. You establish perfectly natur-
al conditions all around. Cotton cloth
is selling, we will say, for IS cents a
yard. Now, this quarter is the actual
natural commercial value of cotton
cloth. Why? Simply because the VAL
ue is determined under natural condi-
tions. The whole cotton industry and
the entire market are influenced by
none other than normal influences.
We will now further suppose that
when the cold blasts of winter come
and you are shivering in your thin,
cotton clothing, another stranger hap
pens among you and he expatiates up
on the comfort and value of wooden
clothing for cold weather. He also pro-
poses to bring in the necessary machin-
cry for woolen mills, to convert your
raw wool into cloth, to all of which
you assent. The mills are built, YOU
increase your focks and wooden cloth
IS soon thrown upon your market.
You establish the same, conditions
concerning the wooden industry yoa
did in the case of cotton; no restrict
lions upon the trade of either; per-
feet equality for both. Wooden cloth
settles down to. we will say, dollar
yard. This dollar is the true CONNER
cial, the natural value of the cloth, for
1T is the result OF the naJuru1 condi-
lions you established. Here we have