The midland journal. (Rising Sun, Md.) 1885-1947, 1900-03-16
The Silver Question.

SOihtuOn PdilauCS as tie money bags
and :" money kings who own or control
most of the daily papers for the purpose
mainly of throwing dust in the peoples
eyes, are anxious to persuade the public
through the medium of their organs, that
"silver is dead" =
They are more anxious to get silver,
and with it the entire money question,
out of the campaign of this year, than
they are to nominate Mckinley. The
persistence of the silver question to keep
its place in the campaign is only equaled
by the annoyance McKinley's blundering
English policy gives them. 1t would be
happy day for them if they could trans
fer all the discussion to trusts and expan-
sion. The money question is their ques-
ton, the question they have succeeded in
wholly or partially obscuring for upward
of thirty years. AS the silver question is
about as hard to down as Banquo's ghost,
and equally indicative that something is
rotten in this country as in Denmark,
and hard TO get rid of as the damned spot
on the murderer's hand, let us look into
it little by way of refreshing the public
mind.
| The main objection of the goldbug to
silver is that il could not be maintained at
par with gold, which if true would not be
a serious objection The greenback was
not maintained at par with gold for
seventeen years and yetin that period the
masses Of the people of this country were
never before or since so prosperous.
Farmers bought farms and paid for them
in that period with the produce they
raised. They have never done so since,
and we believe they never will be able to
do so under gold standard
While the demands of business for
money are equal to or beyond the supply,
the value of money of all kinds will keep
at par or Of equal value with each other
if all is legal tender. People do not care
button what material the money is made
of if they can pass it at par in payment
for what they buy or of debts they con-
tract. Nobody will exchange five dollar
greenback or silver certificate for one cent
less its face value for FIVE dollar gold
legal tender, and all that are in circulation
and held as reserves to meet credit loans
are not sufficient to supply The demand
for money. Prices that were pushed up
by trusts under the stop thief" cry Of
prosperity" are falling because there is
not legal tender money enough in circu.
lation to pay for the goods which are
produced at the increased prices, and they
must be disposed of at lower prices or
perish without legitimate consumption.
Credit loans by the banks stimulate
production but if the consumer has not
sufficient money to purchase and pay for
them, they must remain nnsold The
supply of products at advanced prices is
greater than the money in circulation to
pay for them, hence the price must fall or
the goods remain unused.
This accounts in large measure for
the amazing volume of exports which are
going to foreign countries. BY using the
high tariff to keep foreign goods out Of
the American market, the trust goods
supply the home market at prices put TO
the very top notch, which gives them a
profit sufficient to meet all expenses Of
production, and enables them to send
their surplus abroad and sell it below cost
if need be, to beat the foreigner in his
own market. Whatever they sell for is
clear profit. the trust prices at home which
the Dingley tariff protects recoups the
trust manufacturers for their whole ex-
pense, which they are enabled to beat out
of the American consumers, and their
sales abroad are clear profit.
Under this condition of trade in which
the people are beaten by the syndicates
and captains of industry let lis exam
inc what place silver.-free silver coinage
if you please, would fill to benefit the
masses of the people. The whole ques-
ton resolves itselfinto the simple inquiry:
Is the demand for legal tender money
sufficient to absorb all the available silver?
We believe that the answer is a self
evident affirmative one.
The English government has Just called
for $500, 900, 900 and it will have to be
gold, as England is the only wholly gold
standard country i'll the world except its
American iuiitator, which has a gold
standard bill of the English type before
Congress which may become law before
this article is i'll print
The English must get the most of that
gold from this country if they have to
pay premium for it. That will make
money scarcer here and inevitably lower
prices and check production. Every
dollar that is taken from the gold base in
this country to supply the Boer war
wants, will contract the bank loans eight
or ten, and stop production to that extent.
In the face of such self-evident facts every
branch of industry will cry out still louder
for more money.
There is no other source so available TO
increase the much needed supply of basic
money as silver. Silver is the money of
the entire world. No nation attempts to
do without silver money, and never will
while the precious metals are used for
making money. The point in dispute
a. 81 4