The Penn's Grove record., 1897-06-11
Snain,s Decay.

SllNCIs lIlV H1NhbDA VI NAO law
Her commercial supremacy was due TO
the rich spoils which her adventurous
citizens found and her laws fixed the
relative commercial value Of gold and
silver for 200 years irregardless of the
relative supply, because she controlled
the greatest production and the COM
merce with her rich colonies made her
supreme.
The Encyclopedia Britannica, vol.
XXII., page 70, says: "In Spain, by
the edict of Medina Q49O, the ratio
was 10i. When America was first
| plundered the first fruits were gold,
not silver; whereupon Spain, in l546,
and before the wealth of the silver
mines of Potosi was known, raised the
value of gold to 135, and, as Spain then
monopolized the supply of the precious
metals, the rest of the world was OBJ
liged to aequiesce in her valuation.
During the following century Portugal
obtained such immense quantities OF
gold from the East Indies, Japan, and
| Brazil, that the value of her imports
| of this metal exceeded 100000 a
year, whilst those of Spain had dwind-
led to $500, 900 in gold, and had only
increased to 81, 800, 900 in silver.
Portugal now governed the ratio, and
in 1858 raised the value of gold to SIX
teen times that of silver. Except dur
ing a brief period of forty years this
ratio has wei since been maintained in
Spanish and British America and the
United States. A century later The
spells of the Orient were exhausted,
the Brazilian placeTs began to decline,
and Portugal lost her Importance.
Spain thus again got control OF the
ratio, and, as her colonial produce was
chiefly silver, she raised its value in
1875 from one sixteenth to one fifteenth
and "A half that of gold for the Peninsu.
la, permitting it to remain at one six
tenth in the colonies. France, whose
previous ratio THAT of 1926 was Az,
adopted the Spanish ratio of 153 in
1885, and has adhered to it ever since.
These three historical ratios, and The
bearing of each upon the others, have
influenced all legislation on the subject,
and, where there Vas III legislation,
have governed the bullion market for
more than two centuries"
AS the United States produces more
gold and silver than any other nation
on earth We can surely do what little
Spain and Portugal, countries not as
large as some of our States did, by fix
ing the relative value of the two metals
by our laws, at any ratio we may see
fit, for the laws of God and nature have
nothing to do with the ratio.
About 1900 Spain governed more
than one ninth OF the territory of the
world, since which time Spain's decay
has been going on until now she rules
less than one-huudredth of the land
area of the world.
Florida, conquered by De Soto in
1928, claimed by France and England,
was ceded to England at the close of
the Seven Years War in 1868, to be re-
conquered sixteen years later and sold
to the United States in tSf5-fc~~e
millions to satisfy q kings greed.
Louisiana, ceded TO Spain in 1763,
was coded back to France in 1890.
Hayti, discovered by Columbus, was
won for liberty by the uprising of the
people under Toussaint rOuverture in
1897.
Paraguay, discovered by De Soils and
conquered and settled by Sebastian Ca.
bot in 1926, vas wrested away and
made q yepublic in the great rebellion
of 1910 that swept over Spanish South
America.
Peru, conquered by Pizatr0 in 1881,
gained her independence with the aid
of Chile and Colombia in 1920.
Bolivia, Uuce a Spanish possession
with a part of Peru, wOn freedom in
the same great struggle and became Il
separate republic.
Chile, conquered by the Spanish in
1850, fought for liberty and won in
1910.
The Colombian States and Venezue
la, gems in the Spanish crown, annex
ed in 1886, warred bitterly and success.
fully against oppression at The same
time.
The Argentine Republic, that vast
and rich confederation of the South,
''the United States of South America"
as one has called it, was wrested away
by the English in 1906, and afterward
gained her independence.
Mexico, the glorious land of The Az
tees, Spain's chiefest jewel in her own
esteem, conquered after years of war
by Cortez, fought and won independ-
ence in 1910.
Thus have the jewels fallen, one by
one. Her European possessions gone,
her vast American territories self. wtest.
ed from her. Spain has nothing left of
all her grandeur but a few small islands.
She will loose Cuba soon the last Of
her rich holdings in the Western hem.
isphere and she has a revolution of
considerable dimensions on hand In the
PHILIPPINE Islands.
Dr. kings New Discovery for