Red Lodge daily news combined with Carbon County news., 1932-10-19

to the free coinage of silver were
submitted to the editor of The
News in a letter from Jonathan
Bourne, Jr., of Washington, q. c.,
who remarked that he sees mo
possible hope for the. future of ag-
riculture except through the en-
actment of the Wheeler bill S.
PAST, providing for the free coin
age of silver as we'll as gold at
the ratio of Is to l."
Mr.. Bourne, former Republican
senator from Oregon, is consid-
cred to be one of the best author
tiles in the United States on the
subject of silver and coinage. For
many years he served as chair
man of the Republican national
publicity bureau.
Statements in regard to the sill
yer proposition are:
First. All the worlds e
wealth comes from Mother Earth
and the waters thereon. No ma
ton al increase its wealth unless
the earth's and waters products
bring a price equalling the cost of
production with a fair return for
the labor and capital employed in
the production of same.
Second. When the United States
produces a surplus of cotton,
wheat, corn and other agricultural
products, oil, iron, copper, lead,
zinc, timber and wood products,
fish and sea products, the home
price for such products is vitality
affected and in most instances
controlled by the worlds price
paid for such SURPRISES in other
markets.
Third. In ten year periods the
cost of production in conjunction
with the supply and demand must
determine the average price of all
products.
Fourth. AS gold increases in
its exchangeable value for all 9TH
err commodities cost of production
must increase in the gold stand
ard countries and as the bullion
price of silver decreases in its ex-
changeability for all other COM
modities the cost of production
must resultantly decrease in the
silver standard countries. In the
United States the producer of all
raw materials as we'll as manu-
featured products where a surplus
exists is doubly handicapped first.
by the increasing cost of produc-
ton as gold increases in its ex.
changeability for other commod-
tiles in our own country and sec
ond, and of even greater import
ance, the decreased cost of pro-
duction in the silver standard
countries for competing products
as the bullion price of silver de-
creases in those countries.
Fifth. A further continuation
of this assinine and unnatural
condition of the gold standard and
silver standard countries each hav.
ing different ~yardsticks and both
fluctuating in their interchange
ability for other commodities car
only result in the lowering in the
United States of our high stand
ard of living and our relative high
labor wages to the low standard
of living and low wage scale OF
our competitors the silver stand
ard countries.
Sixth. The only possible way tc
correct this disadvantage Is the
recognition Of the underlying prin-
ciples of the Wheeler bill and the
enactment of same into law by the
United States. Otherwise, | see nc
hope whatever for agriculture OF
the producers Of any of our stable
products or for the absorption at
a fair price of manufacturers
SURPRISES.
Seventh. You may double or
treble the paper money Of our own
country but by so doing you are
simply increasing the cost of pro-
duction in the United States but
in no manner increasing the cost
of production in the silver stand
ard nations, whereas the enact
ment of the Wheeler bill would
quadruple the cost of production
in the silver standard nations and
the same financial Yardstick would