The Washington times., 1901-09-03
Ignorance of poIItice, Economy.

That Georgia clergyma. % is said
to have just returned from Europe con-
,verted from the free silver idea, by the
discovery that our money in Europe
is at premium. while Italian money is
not, and who has also reached the con-
clusion that we must have tariff be-
cause wages are higher in this country
than they are in Europe, would do well
TO keep his religion unmixed with polit-
ical economy. II these wise conclu-
sions are TO be taken as indicating the
breadth and grasp OF his mind, and his
knowledge of the subjects referred to
before he went to Europe, we are left
in very grave doubts as to the value of
his theological teachings.
There is much in political economy that
is subtle and complex, and knowledge
of the great fundamental principles
does not come to man intuitiveiy. 1t
is acquired in the first place by close
thinkers from a careful study of OBJ
served and admitted facts. After cne
has become more or less familiar vita
these principles, from a study of the
standard text books. he is still quite
likely to go astray in his attempt to
apply them to some particular subject
matter, unless he is also familiar with
the facts which go to make up the sub
ject matter. and to obtain an accurate
knowledge of these may itself require
long and laborious study. There are, in
deed. many points upon which a clergy
man or a scholar on almost any other
line outside the economic field may
confess ignorance and do it with no
sense OF humiliation.
But in many cases the ignorance dis
played is far and away beyond what
seems to be excusable. There probably
are no two facts better known to those
who have even made d cursory study
of the money and tariff questions than
that Italian money has been more OF
less deprecated for some years Iast.
ana that wages are higher upon an
average in America than in Europe
They are points that can be easily
gathered from the daily papers by one
who reads with any sort Of care. But
this reverend gentleman. 1t appears
had 10 go all the way to Europe in or
der to learn them. and after he did So
IL he is correctly reported. his mind is
a complete blank as to their real sig
ni1cance
The basic contention of the silver men
was that the demonetization of silver in
Europe and America had increased the
demand for gold and given to it
forced and unjuEt value. the effect be-
ing to increase the burden of all debt,
enrichlng the creditor and moneyed
classes at the expense of all others.
The premium on gold was the identi-
cal lliing complained of. All through
the ing controversy over the coinage
OF sly T, 1t was shown that the coun-
tries which remained upon the silver
basis, and whose monetary systems had
not been changed. were, relatively
speaking, more prosperous than the
gold standard countries. The discount
upon their silver was a positive ad-
vantage in international trade, increas-
ing their exports, diminishing their i'm
ports, and stimulating their home in
oustries. And now after the silver
question has been practically settled as
political issue. we have a minister of
the gospel suddenly converted to the
gold standard by the discovery that
there is a premium on gold In certain
parts of Europe. II he were heavily in
debt, and had nothing but commodities
TO pay with. and found that by reason
Of the premium on gold. he had to give