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

/
decentralization.
George Fred Williams, the brilliant
Massachusetts leader, is not one of
those who believe that dollar wheat
and the decline I'm 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 constant shrinkage in the
value of property of all kinds. Hence
the wealth of the world Is decreasing in
nominal value, although vastly in
crcasing I'm volume, individual holders
lose, borrowers arc unable TO meet their
debts, and then the mortgage 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 it's inevitable effect
10 force down prices. lie says, accord
ing to the Illinois State Register. i'm an
interview:
I believe I'm 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-
tinued 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 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
heard 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 ?
The fact is that from the discovery of
gold in California up to 1913 there was
n constant rise of prices all over the
world. and there was never II period in
human history when the cheapenings
of the processes of production was go
ing on so rapidly. There was n steady
rise In prices all the time. Since 1879
there has been q steady fall all over
the world, and the process is going on
now. This present year is no exception
to the rule. In 1894 prices of goods fell
on an average all over the world ten Der
cent. In 1895 they fell five per cent.
more. Your idea that price will fall
as the facilities of production are In
creased is not sound. for the worlds ex-
| pericncc for the 20 years before 1873
| proves the contrary. The fall In prices
will continue ns long us silver Is de-
monetized, and nothing but the re-
monctization of silver will restore pros.
! perity. See how IL IS In Mexico; whn:
n boom OF prosperity they are hnvinc
there with their silver money. Capital
is flowing In from every side. Guern.
sey knows what the truth IS. He shows
how really prosperous they are there
Silver coinage will continue to be the
chief political issue until H. is settled
right. OF course the party will make il
the chief issue this year, and il will be SO
In the congressional campaign of 1898
EN-Gov. Boies, of Iowa, does not know
where he stands on the question. Hc
has been looking around ever since last
spring for same safe position to strad
ole on, and he has II 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. Thn-
merely makes the government n deposit
tory OF bullion. 1t does not help in tn,
problem at all. We have other issues n.
well as silver, and I do not wan,
them to be obscured. but silver will b,
the chief issue until there Is remoneti
cation at the rate of sixteen TO one"