The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1898-08-25

I
ourselves unable to restore or maintain
the parity between gold and silver at the
| present ratio by such law. What would
| happen then? Our opponents say that
| gold would be driven out OF circulation
| here; that We would go to a silver basis
| to silver monometallism-that all our
gold would leave the country-and go to
! Europe. and no one would use gold in
the transaction of his business here be-
cause there would be premium on 1t.
| This Is the worst that could happen.
| But how would all this affect us? We are,
/ as heretofore shown. one-half OF the gold
| using commercial world, and II one-half
| the world suddenly abandoned the use
OF gold, would not the demand for gold be
! greatly decreased an Its exchange value
| correspondingly dimnished7 Would not
| gold be made more abundant and easier
| TO get In Europe, where our surplus pro-
| ducts are sold7 And would not the gold
price OF these surplus products greatly
advance. and is not an advance In price
the very thing that the Republican Party
| promises 20 promote by protection7 Is
! not every advance In price now hailed by
| the disciples OF the Advance Agent OF
| Prosperity" as a glad omen, an indorse-
| ment OF their political precedence, de-
monstratIon of the wisdom Of the Ding
ley bill7 Let US diminish the demapd for
| gold, diminish the exchange value. and
have better prices all along the line.
But they tell us this would be national
|
obligation 10 pay In gold debts originally
payable In lawful money. gold or silver.
| But we are certainly not under any moral
obligation TO make It impossible for our
people to get gold with which TO discharge
their debts. Suppose we continue to pay
In gold. II will not take so much wheat.
| nor corn, nor cotton. nor the sweat OF
| toiling slaves" 20 buy the gold.
The bond will not command so much OF
these things as II does now. and that is
1 10 ~ ,.A A,,I., 1tz
| the gold monometallst has either to free
| coinage or International bimetaliisnn, and
he is really opposed to the latter more
| than to the former because he knows that
international bmetallism ut 1874 TO the
only International ratio posslble) would
reduce the purchasing power OF gold fully
| 20 per cent. while free coinage at Is to 1
would not reduce It quite so much Che
pretends to believe not nearly so much.
His real objection was stated by The
London Times: I'VE like things cheap;
the cheaper the better"
Commerce. an influential journal of
London. In the leading editorial Of June
10, 1895, specialized on the possible effects
OF the approaching elections In this coun-
try, as follows:
Leaving the question of tariff for a mo-
ment let us consider what a bimetallist
America would mean for us In the first
place II will mean an immediate premium
upon United States exports. The effect
of colning silver at the proposed ratio
would, In all probabilities. bring about
great boom in manufactures OF all KRIS.
Wages would rise considerably. but the
experience of other countries goes to show
that they would not rise In proportion to
the advantages which exporters would
derive who sent their goods to a gold
using country. to-wit the United King
| dom.
1.-The manufacturers OF the States would
not be quite in the same position OF want
| Ia he n Crtr,,1turista ~ ha ftpa
nor the exporters In India. but they would
have SUFFICIENT leverage over the manu-
facturer here TO turn the scale In every
trade where now there IL a doubt which
way the market trends. In tin plates.
many kinds OF machinery, including some
OF the very heaviest, In leather. and in
many sundry manufactures where the
British producer can with difficulty hold
his own. the effect OF the change would
be decisive. Then this policy Is also o
bride 10 the farmer American dead
meat Give cattle being prohibited). wheat.
and all farm products suitable for ex-
portaton would come over in greatly aug
mented quantities. for the difference in
exchange would mean such an addition
of profit that an immense stimulus would
be given all along the line.
AS to silver mining. all that can be
said Is there would be a great rush. The
dimensions of the movement would de-
pend upon many things Impossible to fore
see. These anticipations of what has be-
come possible are not--be Il remembered
based on mere theory. We know al
ready too well what TO expect from for
eign traders In a country where silver In
| the standard currency. India. Japan and
Argentina are all bearing witness to the
insidious effects on British trade of condi-
lions similar to those now In perspective
in the United States"
The writer affects TO believe that free
| coinage would not restore silver to par
| tyt ghnwa
very disparity, IL II should exist. would
benefit us. A great boom IN orr man.
ufactures would of course, injure Great
Britain. but why should we object7 No
Republican can claim that this would be
immoral, for does not he try to boom"
them by a tariff against England
II Is time to shell these political euer-
rilias out OF the woods make them come
out into the open and boldly declare the
policy they secretly promote, Wiz. low
prices and the gold standard. The Re-
publican Party is today the only organ
lied political exponent OF this vicious
policy.
The history OF the world shows that
falling prices have always been to In
dustrial prosperity what pestiience 10
| to the public health. Nothing ever has
been. nothing ever can be. so productive
OF poverty. misery and despair to the pro-
ducers OF wealth as an appreciating
| monetary standard. The people who
tional honor seem to think that the Gov
eminent is under no obligation of honor
toward its producing classes, its honest
| toilers. They may be robbed and plumber
ed with impunity and no obligation of
| honor Is violated. Honesty In due only
| TO him who either by good fortune or
overreaching has placed himself above the
necessity OF toll.
What we need in this country is a little
less cant and a little more courage: .
little less hypocrisy and good deal more
patriotic Americanism. Americans can,
without abandoning becoming modesty.
| be proud and eloquent eulogists of their
native land instead of sniveling apoiogists
for the fact that II Is not entirely like
England A nation which possesses Q
commercial and Industrial power FIVE
times greater than its greatest competi-
tor ought to be the clearing house of
the world. 1t ought to set the pace for all
other nations and would do so II a little
Of the blood of &c were injected into the
social and political organism. Why don't
our statesmen open their eyes to what the
| people of this country have done and can
do. instead of INDUCING In irrational
propheses as to what 1t cannot do?
We are In possession OF the greatest
natural empire upon which the sun ever
shone; empire whose developed re-
sources are the wonder OF the world and
20 the possibilities of which undeveloped re-
sources Imagination dare not set limit
domain extending from ocean to ocean
people the most magnificent commercial
advantages. and almost every variety OF
soil and climate; broad plains and sfTulit
yallNya whose fertility is bursting the