The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-04-24

Cheap Money Arguments Are Lssins
Their Force.

Their EOrces
| II Is fair to Suppose that those who
are interested In silver as the basis Of
future political action are indulging
the hope that the situation win change
In their favor. They point to the vote
of over 6,00O,0 900 for their candidate and
argue that the transfer of compare
lively small percentage of states will
bring success at second trial. But
the course of events since the election
has been steadily against them. Silver
continues 70 decline, and a great orr
entail nation. with a population of over
Al 900, 900, has decided 10 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 IL has recently been going
down, and the bullion valdeo 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
continued steady decline. These arr
stubborn facts.
AS far as that 5000, 900 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 n stepping stone, a
temporary expedient to break down old
ideas. If they can destroy one-half the
value of metallic coinage they win
quickly send the other half to keep II
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 u large
country 10 be run on the single question
Of free coinage at an arbitrary ratio.
There are other minerals i'm the earth
and other problems OF government
coming up for consideration. The
hurrah is out of free silver. When the
storming column was driven back In
1896 IL lost the prestige OF a novel force
expecting to sweep everything before
IL.
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 10 the people and the
rise in wages falls far short OF covering
the difference. Government expendi-
lures have run up rapidly, and I'M
certainty and loss are entailed upon
both foreign and domestic traders.
What has happened TO japan under its
isloated standard of sixteen 20 one is
precisely opposite 20 what silverites
promised this country as the result Of
the adoption of free coinage. A nation
of 41,000,000 is more than half as large
as the United States. The japanese are
industrious, sldllful artisans and enter
prising traders. Their experience has
been governed by general laws, not
peculiar circumstances. 1t is certainly
unlikely that this country will occupy
the position thus abandoned after full
trial and years Of the most careful de-
lfberation.-St Louis Globe-Democrat.