Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-08-19
SILL AFTER PRESTON.

Senator Chandler'a Reply to the Mat ID
rector-The Republican Senator Says th@e
Weight Before Many Years-HAe Eem-
poraxy Conditions of To-Day or To-nAor-
row VIII Not Settle Question So broad
and Universal.
WASHINGTON, Aug. lathe recent
interview" given out by the director
| of the mint. Col Preston, has brought
upon that gentleman much criticism
from the republicans as well as from
the democrats. Senator Chandler. OF
New Hampshire. one of the leading re-
| publicans of the country. takes occa-
sion to rebuke this bureau official for
his remarks about the future of silver.
In letter addressed to the editor OF
the Washington Post, Mr.. Chandler
says:
II think the progress Of the depreciation OF
silver ought to expedite bimetallsm as means
of preventing the full realization OF the injuries
which mankind must suffer il all commercial
| nations of the world are to continue to move
| toward and are to fully and finally reach and
permanently adopt gold monometallism.
''One OF the most important facts have
| learned in connection with the study OF this
! question is that the progress of great economic
changes is very slow, and that the effect OF the
demonstration OF silver by the nations which
| began in 1878 only partially felt during the
20 years prior to 1928. In which the Indian mints
were first closed to silver, and that such effect
| has been by no means fully realized at the end
OF the four years since 1893 This slow propa-
CATION of the result OF economic shock Is clear
| " depicted by Prof Francis a Walker in his
work on bimetallism.
This point is a most important il not vital
one. If the complete results of diScarding sill
yer, (which lower prices and thereby binders
trade, have been already reached and no future
injury from decentralization is to be apprehend-
ed, possibly the world may be held TO the single
gold standard. But il the tendency OF the last
"a years to q fall in prices, caused. as alleged,
by stopping the coinage OF silver, is much longer
to continue to prevail the nations of the world
can not be held to gold recommendation. The
renewed coinage of silver will be irresistibly
| decreed by uncomfortable popular movements
The temporary conditions of to-day or to-mor-
row will not settle question so broad and uni
versal as the issue between the pew gold mono
metallism and the old bimetallism.
Under present conditions, il Is not strange
that silver continues to fall in market price.
There is no longer any demand for the
metal TO coin into money; every year
,Oo0O00 worth Cat the rate Of 1875 to u
must find its way into in the arts, and
in addition. the price is threatened by 5000
100000 worth of silver now constituting the
worlds coined silver. but which is likely TO be
precipitated upon the market commodity
not needed for money, il IL is only money, be-
cause it must be redeemed at all times and
places IN gold. Paper money will be as good.
and even better than silver. il the latter is not
to be as complete money as is gold. II there Is
to be no retrograde movement towards remone-
tizaton, silver viii inevitably fall until IL COM
mandS only its price as q commodity to use in
the arts Where the lowest price will be no
man knows, and no man can ascertain
But there is argument against bmetal-
ism. The principal value of both silver and
gold is derived from their use by the nations as
money, and the principal argument in favor OF
the reconciliation of silver Is derived from the
| continuous fall in the prices of commodities
since 1873, greatly accelerated since 1893.
THAT prices are still falling can. hardly be
| denied. The reference to sporadic rises in the
prices OF certain articles Is not fair argument
| For special reasons particular commodities will
rise, even when the general average OF prices
is downward; as wheat, when there Is fam
| Inc in India or short crops in Europe. The BIZ
metalliSt argument is based on the general fall
| in the average prices extended over a period OF
| years. Mr.. Wharton BarlIers table, reprinted
| in the American OF Philadelphia, dated July Ia.
| gives his index numbers based upon the prices
since 1891 of 100 articles in common In jan
uary 1891, the quantity was ascertained which
| could he purchased for $500 Since 1891 the
number of dollars necessary to purchase the
same quantity has gone steadily down until
It reached, July |, 1897, the figures &75.3a
There are notable rises during the period OF six
and half years, including that of wheat and
other food products between October 1. 1895.
and January 4, 1897, but the general fall is from
100 to7a33
taking the English prices OF 45 leading COM
modities (see the London Bimetallism for Oc-
tober 1885, since 1877, starting with 100 at that
date. The figure goes variably downward until
it reaches g. in January. 1897, the last number
have being 81 for April. 1897.
THAT the various index numbers clearly
prove general fall in prices since 1877 there
can be no reasonable doubt, and everyone
knows from common observation that
real estate and machinery have fallen In
the same proportion. The consequences OF
these conditions are depressing, as any
manufacturer will testify who in 1877 had $780,
O DIN property and owed $4,000. but who now
finds himself with only $4,000 worth of prop
erty and still owes the $1,000 II. as Mr. Bar
ker claims the fall in values has been p per
cent in the last six years. and is still progress
ing. the baneful effect upon the merchants il
understood by all thoughtful persons
1.-THE fall of silver will not lessen the present
or prospective woes from recommendation. Il
only points the moral OF decentralization. The
gold price OF silver falls. and falls the prices
of all other commodities. Such a fall In
the prices of the neceSsaries Of
life is beneficial IL it comes from
natural causes, but is injurious. according
to all political comments, il it results from the
cancellation or destruction of the money OF the
world. which is the measure of values, n this
is wrong and society has been progressing for
20 years it will be wise for the free citizens OF
America, who can accomplish results by votes
to begin the inquiry anew NOW that tie tarin
question passes out of sight for timel wheth-
er the work of remedying the wrong ought
not soon to begin. This question is not to
be answered alone by the money lenders
and the persons of fixed incomes All classes
in the community viii study it and will reach
and act upon their conclusions I should be
glad If 1 could think the question had disap-
peared for the reason that silver has gone down
in price everywhere because demonetiGed and
wheat has gone up everywhere because of n
shortage OF crops in various countries. But Il
the question really gone? Let rs not be toe
cure, but make inquiry"
Marriage.
MorriaonaS based IN benukv nud 49,