The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-01-06

press:
Office of Bimetallic League,
80 Lower Sackyille street, Dublin.
Dear Sir: In the recent Parlia-
mentary debate on the Financial Re-
lations Question, an important factor,
the evil effect of gold monometallism
on Ireland, in the payment Of her
taxes, was not mentioned. I would
have alluded to it, only that it might
have been alleged that a side issue was
being introduced, and it was better to
avoid the danger of being misunder-
stood. Still the grievance to Ireland
remains pressing and substantial.
1T is admitted by the majority OF
those who have studied the question
that the want of a staL:e standard of
currency is the main cause of the ex-
traordinary and continuous ~deprecia-
ton IN the value OF agricultural pro-
duce. AS the purchasing power Of
gold has increased enormously during
late years, a correspondingly increased
quantity OF produce must be sent to
market, thus decreasing the ability OF
the producers to meet their obligations,
since they must give more produce to
pay the same nominal money value.
The payment of leasehold and ju-
dlcial rents, installments Of purchase
money on agricultural holdings, and
other fixed charges in Ireland must be
mpt in GOLD NJ. TIC ooyi1yo lort ~, ,o
duce.
Nov the value OF gold is constantly
approaching, and since it is the one
standard Of value in this country, more
and more produce Of all kinds must
be annually given in exchange for
gold.
when it is remembered that we are
paying two and ~three-quarter millions
annually in imperial o~ver-taxation
which is expended outside Ireland,
that a large amount Of money in the
shape OF interest on property mort
cages also passes completely out of the
country, and that railway rates, SAL
aries, and local taxation have also to
be met by the sale Of produce under a
gold standard which is recognized as
the sole measures OF value though 1t
favors money holders only, Irishmen
who impartially examine the subject
from the point of view of national in
tcrest can hardly fail to observe that
the question here touched on in it's
mere outlines Is which must be
dealt with by thinking men if Ireland
is to rise above Agricultural depression
and become even moderately prosper
GUS.
Further. the single gold standard
in use in this and other countries
makes it easy for those who gamble in
futures to carry out international op-
erations so as to depress prices of food
stuffs until a corner has been estab-
lished. Then the price is suddenly
raised to the disadvantage Of the dis
tributor and consumer, without bene-
fitting the producer. The ordinary law
of supply and demand is entirely de.
feated by a ring of operators whc
work the principal corn markets of the
world.
This could scarcely be accomplish
ed under a bimetallic system Of ex
change. The fall Of prices, as it i
generally called iYa.speaking 81 the
money obtained for live stock, corn,
hay, or whatever it may be, means
that so long as England maintains the
present gold standard, agricultural
produce will bring lower and lower
prices annually, gold will continue to
rise in purchasing power, taxation will
become more oppressive, debts of all
kinds will weigh more heavily on the
producing classes, and Ireland, being
pre-eminently an agricultural country,
will continue to suffer more than any
other portion of the British Empire.
This is a question which affects all
property owners, producers, distrib-
utors, consumers and workers in the
community. The gold standard i'm
poverishes alike the landlord, the ten
ant, and the laborer in Ireland. Ow-
ing to the premium in exchange which
s~ilver-using countries enjoy, their
products can be sold more cheaply than
home products in Great Britain ard
Ireland, and since it does not pay to
grow corn, the land is gradually re-
verting to pasture, the demand DOR la
Eor decreases, and the agricultural la
borers are driven into the slready
overstocked cities, towns and villages,
adding to the constantly increasing
burden Of pauperism and me-. King it
daily more difficult for the skilled ar.
tisan to find regular employm ant.
"In view Of the great importance Of
this subject to Ireland the B~iinetalllc
League has arranged to have E. series
of addresses delivered at various cen
tiers throughout the country during the