The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-03-13
Has the South Learned 1t?


The campaign for cheap money was
waged in the South with low prices OF
cotton as its argument, as it was waged
In the North on the low price of wheat
In both cases it was contended that
the "demonetiza ton" of silver was the
cause, and free coinage the only posi-
bic remedy. Foreign supplies of cotton
even more than those of wheat are de-
rived from countries where silver is or
has been until recently standard money.
The contention that the difference in
the price of the metals acts as bonus
on exports applies with exactly the same
force to cotton and to wheat. The
matched by the same showing on cot
ton chart. And not even its traditional
allegiance to Democracy held the South
for cheap money as securely as the ruin
ously low prices for cotton which pre-
vailed there for so long that plant
ers and small farmers were in the tolls
OF industrial collapse.
Five-cent cotton is the ghost before
which all the cotton raising states shud-
der with apprehension. They have felt
the grasp of its bony hand. They have
believed sincerely that it was conse-
quence Of financial legislation. due to
insufficient money volume. During the
present month, May contracts for cot
ton crossed the inherent line at New
Orleans. The South is In a whirl of re-
joicing. The advance means an add-
tional value of $50 per bale. The Times
Democrat, in whose columns could have
been found daily four years ago elab-
crate articles to show how the "crine
OF 'T3' had paralyzed the cotton indus
try and laid the South PROSTATE. bubbles
with Joy: 1.-THE South once more stands
erect, with its face to the sunlight. sim
ply because its basic commodity is no
longer a drug upon the markets of the
world. Every value in this section must
needs feel the healing touch of the
transcendent change"
We rejoice in the new prosperity that
has come upon the South. The pros
perty of one section makes for the pros
pcrity of all. But we hold that this new
acknowledgment of its errors and an ae-
ceptance of two plain lessons OF ex-
perience. One Of them is economic. The
Times Democrat names the true cause
of depression at last. 1t says '1et us
have a care lest overproduct'on' bring
back the old status. Put away, then.
the old financial heresv Let the South
receive instruction from events and re.
pudiate forever the mistakes that have
found IL a fertile soil The South should
be for honest money hereafter
The other lesson is political Cannot
the South see that the political leaders
whom she follows are blind guides? II
their voice had prevailed, cotton would
not have risen to present prices. II the
party that she supports were TO come
into power this year. IL would mean un-
told disaster 10 both sections. THIS one
blunder Is only symptom Of the OBJ
liauity Of vision. the contempt Of expert
ence, the denial of reason which under
lie all Democratic policy. A lesson
through prosperity should he MS effect
I've as the Christening OF adversely The
people Of the South ought TO Join hands
with the party that has set them erect.
with face 10 the sunlight" and whose
ways are upward and onward. instead
Of with the party Of calamity. suspicion,
denuneiation. dis,rust and al the deca-
dence that Is inevitably Joined with the
appeal 10 the worst instead OF the best
in humanity