The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1900-08-31
ExPENSIvENESS OF BRYANIsM.
Reasons Why the Nation Could Better Afford to Give the Demo-
cratic Candidate Royal Pension than to
Suffer Him to Be President.
Dividends to Labor. Wealth to Farmers, and
Rich Strike to Miners.

workmen, a general lowering Of the
wages Of those still kept at work, and
the loss of profitable markets to the farm
ers who supply the workmen's dinner
pail"
Secondly, the Wilson law, though in
tended to be "a tariff for revenue only"
was drawn up on such grossly erroneous
fiscal estimates by Secretary Carlisle that
it even failed to produce the revenue nee
essary to pay the current expenses of the
Government.
Revenue Producing Protection.
The total deficiency caused by the four
years operation Of the Democratic tariff
law was $155, 1864, 1873. 1t was this lack
Of revenue which forced President Cleve-
land into the burdening Of the country
with $3.50, $50 ,692 of new debt. The only
way by which the Government could fully
pay its current expenses was by drawing
on its gold reserve. The only way by
which President Cleveland could enforce
his commendable resolve to protect the
gold reserve, and thus prevent his admin
istration from going out with the coun-
try hopelessly busted" through free sill
yer, was by the issuing Of bonds.
The Dingley act was, as expected
success both as revenue producing and
as a protective measure. Within few
months from it's passage all predictions
were verified, and the receipts for No
vember and December, 1897, and Janu-
airy, February and March, 1898, exceeded
the monthly disbursements Of the treas
ury.
The Circulation of Gold.
An interesting phenomenon noticeable
in 1897 was the appearance Of gold in
even the channels of common circulation.
Anybody who wanted gold coin, perhaps
for the novelty of seeing what had be-
come a rare sight, could go to bank
and exchange paper or silver for gold,
and find that the banker made the ex-
change not reluctantly but very gladly.
Bryan had pointed to the apparent scar
city Of gold coin, and to the difficulty that
had been attendant on keeping up the
gold reserve, as proof of his theory that
the volume Of gold was too small to form
sufficient basis for the money circula-
ton of the country. But after Bryan
was given leisure to write up ''The First
Battle" gold ceased to be scarce, for it
had come from hiding, and nobody es-
pecially wanted it. Since doubt had been
so completely removed, and our own peo-
pie as well as the whole world had been
given so thoroughly to know that all
kinds Of American money were just as
good as gold, every bit, then why should
gold be especially wanted when other
kinds Of money were not only just as
good, but were more handy to carry?
The Full Dinner Pail.
In the autumn Of 1897 there was an
enormous crop Of wheat in the United
States. Other years, however, have seen
bumper crops, but mighty poor prices and
no prosperity. Kansas has seen corn
through heavy crops become so cheap
that it was used for fuel.
But in 1897 there was a demand for
wheat, corn and other grains. The ''full
dinner pail' Of the American workman
was becoming new factor In the ratio of
demand to supply of farm products. The
mills were again being opened through
the passage of the Dingley bill. Capital
was becoming more aggressive In enter
prise and saw profits, not losses, in bust
ness expansion.
With the American workingman in
such a position that his dinner pail had
to be filed first, the foreigner was put
into an excited, impatient, worrisome
mood. America, despite it's enormous
crop, contrary to presidents, was not
selling literally. Consequently prices
went booming upward. The average price
per bushel on the farm reached nearly 81
cents. In 1894 it had been 40 cents, in
1895 less than 81 cents, and in 1896 it
was 70 cents.
Foreign money and the money Of the
populated centers Of the East began pour
ing into the great agricultural area of
the Middle West.
The farmers who had been barely able
to keep the wolf from the door and pre-
vent loss of mortgaged homesteads, now
felt themselves flushed with wealth. They
Began to spend money for clothing, food,
farming tools, and to pay off their mort
cages. A great debtor class, to whom
Bryan had vainly limited the saving that
could come to them by the cheating of
their creditors through Accent dollars,
fast became a creditor class. Accounts
were started at country banks, and farm
ers who had been borrowers of money be-
came lenders of money.
OF course this great prosperity Of the
farmer began at once to increase the
prosperity Of the city laborer who had
furnished the initial cue given him
through the victory Of the Republican
party. There are upwards Of 100000
farmers In the United States, as against
100000 industrial workers.
Farmers Make Work for Wage Farmers
These 8,5O0,000 farmers made extraor
dinarily heavy buyers Of what the 5,0O0,-
600 industrial workers produced. AS a
consequence great industries, which had
been stagnant under Democracy, became
active and profitable. In competition fer
labor they were forced generally to raise
wages.
i The enormous expansion In the value Of
exports from the United States, from