The Forrest City times., 1898-04-01
BLAND TO THE FARMER.
now the AEricuiturists Have Been
Robbed by the Gold
Standard.

yipllltErlSlS vi lHC
that will enable the agricultural people
IN 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
galley states furnish the most of our
AGRICULTURAL products that arc exported
abroad and sold in foreign markets.
These products are sold in foreign mar
kets on the gold basis in competition
with the world. ard since gold has been
going up from year to year, on account
of the demonstration of silver in 1879,
the average price of farm products. as
measured in gold. has been going down.
The gold standard advocates insist IL at
we must have the gold standard here
because Europe is on the gold stand
ard. The farmers of this country ex-
mort 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
a 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-
TEN of bimetallism. The value of our
exports for 1907 was 81 COG, 74s, 554. Our
imports were S742, G31 $50, leaving q bal
ance of trade in our favor of $357.112,-
204. In 1896 our exports were 81 ,005,-
s57,241; our imports were 1851, $40. $50,
leaving a balance of trade in our favor
OF $324,2j7,6S5. Thus in two years past,
1896 and 1897, our exports exceeded our
imports S6S1, 367,S $50. Under this BIZ
metallic standard of valuation our bal
ance of trade would have reached ST.
100000, 900 in the last two years. Not
outstanding the balance of trade has
been so largely in our favor, we have
in those two years exported S34, 1884, III
more gold than we have imported. We
have sold s100,O00,oo0 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 $1,000, 900, COO.
Interest on this at four per cent.
amounts to $2so,0Oo,0 900. 1t is estimated
that our people spend in travel in
foreign countries not less than 100000,
600 every year; that the cost of our car
rying trade, which we pay to foreign
ers, is not less than 500, O00, 900
more. These items added to the in
terest account before named would
make our annual charges due to for
eign countries $3.50, 900, GOO, and this in
terest and other charges will increase
instead of diminish. Under the BIZ
metallic system, the balance of trade
Tor the past two years would no doubt
have iiqudated these charges and left
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 fall
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
70 one, and the free use of silver money,
as well as gold, in the payment of all
pubic and private debts. The restora-
uon OF the free coinage of silver in this
issue would relieve the money market
mere and in Europe. The silver we would
put in circulation would obviate the
oemand on ou- part for gold in proper
uon to the silver we coined and used
as money. The strain upon European
gold would be withdrawn. Every dol
Jar We coined of silver would be the
same as putting so much gold in circu-
10 HiOHey, ior tne reason tnat our
country is very large portion of the
World in fact, the dominant part;
consequently, inasmuch as we are n
paf' OF the world, our money would be
me money of the world. When we
stopped our demand on the gold sup
Ply thus draining the European coun-
ines OF their gold. gold would remain
mere and food those countries. thereby
.ssing prices on everything We sold TO
mem and increase the amount Of gold
ous products would fetch in foreign
.uafAe's. This increase in prices in
.ofelgn markets for our farm products
"oa1a react so as 10 increase the prices
~ nome. Our agricultural people and
- o.hers ia this country would IN that
- Go business ON q rising market and
on falling market. They would
- profitable business. whereas they
= no" doing a losing business.
r. r. BLAND