The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-20
LETTERS FROM THE PEOPLE.
The FundamcntaI Evil.
To the Editor of The Post. :.

Greenviile Texas, December 19.--In the
Dallas News OF November % under the
caption what Is the Remedy appears
an article by MIR. S. ". Bloigett OF Hous-
ton replying as understand It. 10 an artl'
Gle of Mr.. Walton. whose position is
summed up in the inquiry, according U
Mr.. Blodgett that ''if the free and unlm
tied coinage Of silver at the existing ratio
OF 10 to / is no; the remedy for the de-
I, preston felt among the masses, what is 2
Mr.. Blodgett frankly ayows his disDe-
| lief in blmetallism the free coinage OF
both gold and silver and dismisses them
as having nothing TO do with the question,
and accepts rather a statement from the
san Francisco Examiner, which, IN sub
stance, rehashcs the overproductiou theory.
II says We have so much to eat that
| the farmers are complaining that they Get
nothing for Il. So much to wear that cot
ton and wooden mills are closing down be-
cause there Is nobody TO buy their prod
ucts So many houses that the builders
! are out OF work." and much more of the
| same sort. and then closes By asking "Will
free coinage make less 10 eat, so hat the
farmer can get more for his product will
II make less TO wear so that cotton and
wcolon mills can run on full time? Will
IT cause less houses to be built, so that
builders may all have work.
As Mr.. Blodgett accepts the above.
il is clear that neither he nor the Exam
inor believe that remuneratiyc prices TO.
commodities or labor can be had except
by reducing the supply. thereby increas-
ing the demand, this, too, IN face OF the
fact that thousands are daily famishing
ana approaching the severity OF winter
half clad.
Following this Mr. Blodget says
Every reasonable man knows that money
Is mere medium to facilitate EXCHANGES.
and that whore there Is stagnation from
any rausc or causes in the different
branches Of trade the same causes stop the
circulation OF money"
"Siagnauon'" Has 1t occurred to Mr.
Blodgett that the most prolific cause 70
staSnaiiuu' is non remuneration rha
farmer is discouraged when his products
VIII not repay the cost Of production. Tho
merchant aces his wares shOp-worn upoa
ms shelves with no demand at any price.
Ihc builder is IDLE for the same and all
suiiicient reason that the farmer has not
been able to recoup himself from the
products of his years labor sufficiently
~ be a buyer NJ the products OF the mills
and of the general commodities of who q
Uhiic commerce or trade consists. This
ig stagnation
Mr. liodgctt tells MS stagnalion stops
the circulation Of money hut attempts no
explanation AZ to the cause Of stugnation
70 say that death stops The circulation OF
plood rs only one of those solf-oyldent
Facts, the assertion OF which Great g
amusement. u is almost as sclf-evdont
ana much more rational to say that death
results from stOpppage of the circua
Uch- Siagnation and industrial dc2res-
son result from an insuficiency OF money
MS IS simply putting the horse In front
OF the cart where he belongs
II IS singular fact that no so-called
sound money writer of today attempts to
quote any Of the authorities from Arts
lpll' down 10 the present century on the
quanti' We theory OF money" Yet ali
lnesc authorities agree TINT to double the
supply OF money tothcr conditions remain
INK Unchanged Is 10 double the price n,
an commodltios-- not instantly but grad
ually~lust as the inertia OF n train Is
overcome in starting or stopping II can
not be done instantly although the fun
mead of steam be applied. So the inertia
OF low level OF prices 10 that OF higher
ieyei must be gradual, though the money
volume were instantly doubled. But grad
ually prices would double
The only question and hence the only
benefit of free and unlimited coinage ITO
me hassse5 is an Increase In the supply
OF money. Its benefit lies solely in chean-
eniuS the dollar 10 the end that less labor
or The products OF labor will exchange for
a greater number of dollars dollars wbicb
IN turn VIII pay off the same amount of
oeht' nNed charges and taxes. as the 200
cont dollars we now have do Nobody
eiaims that the man whose wealth cons,sis
OF securities mortgages. money and iute.
tSt heArtug obligations would b. the hone
tlcialY OF his change, and 1t Ia a strIkint.
example that this class are uniformly
against II. But are the interests OF mis-
Ass VINO are largely in the minority. and
VINO are consumers and not producers Of
wealth Ia outweigh the interests of Tho
lnlHlons of wealth producers? Hardly. Il
there Is to be discrimination anywhere
let 1t he favorable TO the side OF the wealth.
producers and not ON the side of the wealth
ahsorbers
The free coinage Of silver would be mt
a pttanco In the direction OF relief To the
lpuustrial millions, and the writer is fnr
from regarding ii MS the great panacea
lor me abnormal industrial evils from
Whlch we are suffering. But TO suggest
remedies for the alienation of conditions
complained Of the causes of which ~.
not Understood. were foolish \ nhvsi
clan success depends upon the acrura,. v
OF ms diagnosis To find tho cause of Ill,
'urpdhce ana remove II Is the founlation
OF logic aud common sense What is In,
tduso OF tNe general distress and complaint
80 universal. heard upon every handq nos
H1fnlN
II takes more than confidence TO raise tbe
price OF products to remunerative bost,
Ihe combined faith OF all the cotton raise y.
tnat cotton will be worth 10 cents n pnur1
VIII not place II there. when thai stanle
Is priced in foreign market, IN a counfl.,
whose financial systom is the ideal AM,
gold STANDARD friouds continually hold ma
Tor 'is to simulate. Thoy are blind 10 tTo
TACT that every interest of that counir,
Is anIasonlstic TO our own. rhcv dnsirr
'n' raw materials, OF which they are n,u
W'li producers, az the lowest possihl,
osi We produce them from am inri,,t,
lNmaln OF houndloss resources. and in
Feulhlo as H. may seem we have tho,,
among us Who would despol ~ or nnr
lus' dues ard aid our enemy in ho schcm,
D aoSpollation it is attempting Ia fnstcp
lpn all nations by contracting The many
volume to the limited and insufficient sum.
ply of gold alone.
Every new demand for sold. such as the
iuoptlon OF the gold standard nv oo,,ntrirs
heretofore On the silver basis Increases
Us PURCHASING power, or what is the Same
ming. sends prices TO lower level Tbis
: no Wild thronging, but n demonstrates !
Iaet following In the wake of the success
we demonetlsations of silver by one ma