The Winslow mail., 1899-11-09
PROSPERITY AND SILVER.
in Past Five Years Under the
Silver Standard.

Silver Standard.
Every silver standard country in the
world, whether situated upon this side
cf the waters or the other, whether
north or south of the equator, and
whether it has high or low tariff,
is to-day and has been for the pas: five
years, compared to its former condi-
ton, enjoying marvellous degree of
prosperity. BY this statement | am not
saying that the Mexican is equal to the
American, and | must say that the man
who uses the statement: do you
want to MeXicanize American does not
know the meaning or import of an az
gument. We could with equal pro-
priety say: DO you want to Turkeyize
American" For Turkey has the gold
standard, and l am willing to contrast
the civilization of Mexico at any time
with that of Turkey; and | am willing
further to contrast the wages paid in
any European nation. I might further
say: DO you want to Egyptianize
America" For Egypt has the gold
standard. Do you want the civilization
of the Portuguese? For they have the
gold standard. The truth is that there
are many things that determine the
civilization of a nation, the most i'm
portant of any being climate; and
apprehend that there is no danger of
bringing the climate of Mexico to the
United States. But these silver stand
| ard nations, compared to their former
condition of five years past. are mar
velously advanced. In the last five
years the exports of Mexico have in
creased more than 30 per cent. The
number of manufactures in japan and
Mexico have more than doubled and
the railroad building in every silver
standard country has Len increasing
enormously. while in the sold standard
countries, instead of an il 1'crease of
manufactures, there has beek, during
| these five years, a shutting down and
| closing of them to an extent unknown
| before in the history of the nation.
It is true that on account of the famine
| in India, the shortage of crops in Eu-
rope, and the war between the United
States and Spain there has, in the last
IS months, been an upward tendency
in the price of some commodities. but
when conditions again become norma
the same low prices must again pre-
vail. These silver standard coun:sies
by reason of the increase in their cusn
merce and manufactures, are in hett
more and more of a greater Giro Nat
ing medium, and consequently i, Ne
comes pertinent to inquire wheth
nations having such need for increas,
of money can easily yield up any quan
tity of money they have now for tn,
purpose of bringing it to our mints fol
coinage into American dollars Whe1
we look into the monetary statistic
of those countries, we are struck VIII
the fact that they have entirely to,
small a circulating medium for thei
own use to be able to part vii h any o
their money. Mexico has a circulating
medium of but SAT- per capita. japan
but S4.09 per capita, the Central Amer
lean states but $3.7S per capita, ant
China but $20S per capita, while we il
the United States have a circulation, ac
cOrding to the statement of the secre
tary of the treasury, of $24 per capita
and France has a circulating medium
of nearly $40 for each inhabitant is
it possible that those silver standard
countries with a shortage of crculat
ing medium now would be willing tc
part with that circulating medium IL
order to flood the United States will
silver? Why, if Mexico should send al
Of her silver here, it would be but
bagatelle. The total circulating me
dunn of Mexico in 1895 was but $50 ,OO0,
600, and that is only about one-four
teenth part of the demand caused b,
the withdrawal of the $500, 100000 O
gold Some people talk of this foot
as if it would be disastrous to the ma
ton should it occur. No nation wa
ever injured by its people having al
abundance of the precious metals, AM
instead of being a detriment, it woult
produce the greatest era of prosperit,
peopie thfn1S that as soon as foreiepne p,,s
brought silver to the United State
mint 0Dd pOd it OOiD0d tpOt tPOrO MOuI
mi Mt and had it coined that there would
| be some American with gold chaSins
him, in order to get him to exchang
the silver for a gold dollar. I appre
hend that the American people are in
telligent and that they are not goin!
to exchange a gold for silver dolla
unless it is to their advantage to do so
When foreigner brings his silver II
our mint and has it coined into dollars
what is he going to do with his money
j. F. Shafroth.