The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1897-04-21
TIE SILVER SITUATION.
Cheap Money Arguments Are Lor.ng
Their Force.

II is fair 10 suppose that those who
are interested in silver as the basis Of
future political action are indulging
the hope that the situation will change
In their favor. They point to the vote
of over 100000 for their candidate and
argue that the transfer of a compare
lively small percentage of states will
bring success at a second trial. But
the course of events since the election
has been steadily against them. Silver
continues to decline, and a great ORR
Al 100000, has decided to abandon the
silver standard before the year is out.
While the average price of bar silver
was slightly higher in 1895 and 1896
than in 1894 it has recently been going
down, and the bullion value of the silver
dollar threatens TO drop below the low
water mark of 49.1 cents. The cost of
silver production is decreasing, and
there are good authorities who predict
a continued steady decline. These are
stubborn facts.
AS far as that 100000 votes are con-
cerned they are but partly for silver,
and represent an impulsive fusion that
cannot be repeated. The populists are
not believers in silver, or any sort of re-
demption money. Their object is gov
eminent issues of paper, and they re-
gard silver as but a stepping stone, a
temporary eXpedient to break down old
ideas. If they can destroy one-half the
value of metallic coinage they will
quickly send the other half TO keep il
company. No faith can be placed by
distinctive silver men in future popu-
list alliance. New conditions will be
imposed, and at the best the concert"
will be of European variety. Another
difficulty with which free silverites
must contend is the extreme narrow
ness of their platform. This is large
country to be run on the single question
of free coinage at an arbitrary ratio.
There are other minerals in the earth
and other problems of government
coming up for consideration. The
huTrah is out of free silver. When the
storming column was driven back in
1896 it lost the prestige OF novel force
expecting to sweep everything before
it.
A further examination of the action
of Japan in adopting the gold standard
serves TO demolish many Of the favorite
arguments of the silver party. Under
the silver standard Japan's imports
have grown as fast as the exports. The
price of all articles of consumption has
been increased to the people and the
rise in wages falls far short of covering
the difference. Government eXpendi-
lures have run up rapidly. and un-
certainty and loss are entailed upon
both foreign and domestic traders.
What has happened to Japan under its
isioated standard of sixteen to one is
precisely opposite to what silverites
promised this country as the result Of
the adoption of free coinage. A nation
of 100000 is more than half as large
rs the United States. The japanese are
Industrious, sllillful artisans and enter
prising traders. Their experience has
been governed by general laws, not
peculiar circumstances. II is certainly
unlikely that this country will occupy
the position thus abandoned after full
trial and years Of the most careful de-
liberation.-St. Louis Globe-Democrat.