Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-03-24
A SHOWING BY BLAND.
How the AEricuItuFists Have Been
Robbed by the Gold
Standard.

It is admitted that all the prosperity
depends upon the welfare of the ag
riculturists of the country. Conditions
that will enable the agricultural people
to prosper will bring prosperity to all.
The Mississippi valley states are the
backbone of our agricultural wealth.
When they prosper the whole country
will feel the impetus of prosperity. The
valley states furnish the most of our
agricultural products that are exported
abroad and sold in foreign markets
These products are sold in foreign mar
kets on the gold basis in competition
with the world, and since gold has been
going up from year to year, On account
Of the characterization of silver in 1878,
the average price OF farm products, as
measured in gold, has been going down.
The gold standard advocates insist that
we must have the gold standard here
because Europe is on the gold stand
ard. The farmers of this country ex-
port an enormous amount of farm
products annually to be sold in Europe
for gold. The price received there fixes
the price here. The price received there
in gold necessarily fixes the price to be
received here in gold, and as long as we
maintain the gold standard the price
of our exports to gold standard coun-
tries will be fixed in those countries
and not here. The low prices brought
about by the gold standard is working
practical confiscation of all the sur
plus earnings Of our agricultural peo-
pie. After the payment of costs of
production, they have nothing left to
show for their labor and outlay. Eu-
rope is getting our farm products for
nearly half the value they would be
required to pay for them under the sys-
tenn of bimetallism. The value of our
exports for 1897 was 81 ,O99, 743, 554. Our
imports were S742. 631 $50, leaving a bal
ance of trade in our favor of 1857, 49,
204. In 1896 our exports were 81, 0O5,-
S37,241: our imports were 1861, SIS, $50,
leaving balance of trade in our favor
of $324, ,6S5. Thus in two years past,
1896 and 1897, our exports exceeded our
imports S6S1, 3G7, $50. Under this BIZ
metallic standard of valuation our bal
ance of trade would have reached ST.
000,000,00O in the last two years. Not
withstanding the balance of trade has
in those two years exported S34, 334.7 III
more gold than we have imported. We
have sold S1OO,OOO,O00 of bonds during
this period to maintain the gold stand
ard at home. 1t will thus be seen that
our interest account abroad more than
absOrbs the balance of trade in the most
favorable years. From the best esti-
mates obtainable, our debt abroad, in
round numbers, is about 81, 1000, 600, coo.
Interest on this al four per cent.
amounts to 0,0OO,O 600. It is estimated
that our people spend in travel in
foreign countries not less than $1,000
geo every year; that the cost OF our car
rying trade, which we pay to foreign
ers, is not less than 500, 100000
more. These items added to the in
teTest account before named would
make our annual charges due to for
eign countries $3.50, OOO, GOO, and this in
terest and other charges will increase
instead of diminish. Under the BIZ
metallic system, the balance of trade
for the past two years would no doubt
have liquidated these charges and left
a good margin of balance of trade in
our favor. These facts are alluded to to
call attention to the difficulties under
which our agricultural people labor as
respects the prices of their products.
They cannot prosper under falling
prices, and prices will continue to fail
with respect to our farm products as
long as these prices are fixed and main
tanned upon the gold standard. The
remedy for all this is the restoration of
bimetallism in this country; the free
coinage of silver at the rate of sixteen
to one, and the free use of silver money,
as well as gold, in the payment of all
public and private debts. The restora-
ton of the free coinage of silver in this
issue would relieve the money market
here and in Europe. The silver we would
put in circulation would obviate the
demand on our part for gold in proper
ton to the silver we coined and used
as money. The strain upon European
gold would be withdrawn. Every dol
lar we coined of silver would be the
same as putting so much gold in circu-
lation as money, for the reason that our
country is a very large portion of the
world; in fact, the dominant part;
consequently, inasmuch as we are a
part of the world. our money would be
the money of the world. When we
stopped our demand on the gold sup
ply, thus draining the European coun-
tries of their gold. gold would remain
there and flood those countries, thereby
raising prices on everything we sold to
them and increase the amount of gold
our products would fetch in foreign
markets. This increase in prices in
foreign markets for our farm products
would react so as TO increase the prices
at home. Our agricultural people and
all others in this country would in that
case do business on rising market and
not on a falling market. They would
do a profitable business, whereas they
are now doing losing business.
r. P. BLAND.
HOMMENTC OF TIE DPRSS