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T.ilK EAGLE: WEDNESDAY, DhCMIBrtt 11 UIMft.
11 PLAINLY STATcO. The Degrading of 8llTer Ha Increased the Price of Gold and Lowered That of Com module. The American in a recent editorial Bhowa tnat as one nation after another has closed its mints to silver the de mand for gold has increased, its price has risen, and there has been a general fall in the prices of commodities. It says: '.'Saurbeck's tables of forty-five lead ing English commodities show prices to bo about 37 percent lower to-day than they were on the average for the years 1807-1877, while tables covering 6ixtoen of the principal exports of the United States, taken with regard to impor tance, show a fall in prices for the fiscal year 1895 of 84.58 por cent over prices ruling in 1873. Mr. Sauerbeck's tables are substantiated by the tables of the London Economist, and the general fall in prices in London of twenty-six .of our chief Imports, which show col lectively a fall of 86.47 per cent for the fiscal year 1895, as compared with the year 1873. "Between 1850 and 1873 the labor cost of production was falling faster than since, but prices were not falling they were rising and the wage earner benefited from improved methods of production in higher waircs. Since 1873 prices have fallen almost steadily, and the producer has reaped less and less reward for his In dustry. Tbo only bright spots in our industrial history for the paBt twenty years have been when prices were ris ing consequent upon temporary meas ures to enlarge the use of silver. "The most palpable but far from the most injurious effect of falling prices consequent upon the appreciation of gold has been to double the burden of all debtors and levy a double tax on all production. It forces every debtor to pay more than he covenanted, to pay, not more dollars, but more prop erty. In 1873 the funded debt of the United States amounted to 81,710,482, 050, now it amounts to 8747.300.400, but the name quantity of commodities which it would talto to canecí this np parently much-reduced dobt tu prices of our prliic;nal exports for ISíij would have paid off a debt of 31,(145.4:13,480 in 1873. Our interest and nou-inierest bearing debts amounted to sotre SO (i05. 000,000 in 1873, In 1895 to muuh 81,0.1o, 000,000, but it would tuko the simo sac rifice of commodities to pay this ddit to-day as it would to have paid i2,:U0. 000.000 debt in 1873. As with Uw' United States, so it is with our railroads and other debtors." These facts cannot be successfully controverted. The rise in gold has caused lower prices, and lower pricos mean bankruptcy to debtors, ruin to producers, idleness, lower wages and distress among toilers. The Ameri can says: "Tho silver using countries are placed at a great advantage in compe tition with us, for they have teen working on a stable standard and have had no disturbance of wages or prices. With what we look upon as a fall in silver, prices and wages have not advanced in silver-using countries, while with what tliey looic up u ns an appreciation of gold, price: and wages have not fallen in irold-using countries proportionately. The difference be tween this depreciation in silver and the fall in our wages and prices is their profit in selling to us. To meet this competition is impossible, for we are handicapped with taxes and fixed charges, payable in gold, and cannot reduco' the pay of our wage-earners without reducing our plane of civiliza tion. "This leads to Increased competition for our markets from European manu facturers, who, no longer able to dis pose of their manufactured products to silver-using countries, seek an out let in the only remaining market the United States." This is a very clear summary of the situation, and we commend it to all fair-minded readera Atlanta Consti tution. A FINANCIER'S VIEW. This Country Could Act Independently and Successfully la Establishing Bimetal lism. The New York Independent recently published the views of several leading financial writers, both gold standard and free coinage. Among the articles on bimetallism was one from the pen of William P. St. John, the successful New York city bank president and financier, who has written some very able articles for leading papers from a free silver standpoint This paragraph, coming from one of the leading bunk ers of the country, is worthy of con sideration: "The happy achievement predicted for ideal bimetallism would depou.l for its certainty on the one indisputa ble fact of history, to wit, that tho world has never been afflicted with too much gold and silver money. Tho excess of the supply of gold and silver over tho requirements of the arts and Asia would be without em ployment, except as money. This ex cess would be effectually money with out the coining of it at all, and at tlx coining price. The nrts and Asia would bo supplied at tho coining price nt min imum. Hence, whether a few nations or a single great nation could achieve tie like result under tlio law of blmotn -llsm, adopted independently, would depend on what supply of the moro abundant metal would seek conversion into the money at the coming price. If the mints of the United States offered unlimited coinage for silver into our present standard silver dol lars, while continuing our offer of un limited coinage for gold at 25.8 grains i standard to the dollar, gold would con ! tlnue to seek conversion into the i money of the United states for as long I as the amount of silver seeking the same wasdodclent of the aggregate in crease of money which our people, do mestically, could profitably use." President St. John closes his article with this declaration: "My research of the experience of France, of the experience of the Unit ed States, of the influence of these ex periences on the world at large, sat isfy me that conditions present and ccmingly prospectivo warrant an al- ....u' uoojable uonieveuient ol Oi ;aeiallisin independently, if re-enacted as tho law of the United States. I erily believe that, at least for several years to come, the aggregate sum of 'iilver that the outside world would snare us would be welcomed into our money, the silver dollars floating by certificate as now; that for so long the achievement would be the identity of our coining price for gold and silver with the world's market price of each; that, for so Ion?, a dollar's worth of gold would be the gold in a full-weight -old dollar, and a dollar's worth of sil ver would be the silver in a full weight silver dollar. Hence, at least for years, the achievement would bo the concurrent circulation of gold and silver money in the United States." WILL NOT DOWN. If Silver Is Dead It May Prove to He a Verv Lively ( orpse on Election liy. The agitation of the currency ques tion has proved two things beyond a doubt, which the gold-buss will admit if at all disposed to bo candid. The llrst is that the popular belief regard In,' the nine lives of the Thomas cat lias been eclipsed as a matter bf won der by the many lives of tho "sliver craze," and the second is that it has as determined a disposition tocóme back. Mr. Wattersoq tnav slop his press at 3 o'clock in the morning to give it a whack, and Mr. llorace White punc ture it with his pencil every even in r and yet, before tho star-eved c:in . plain some more that ho is tired oí politics anyhow, and ere theEvo.ninr I'ost mistake yets through sWin-r with a mi sal twang a dirge on pasiu away, passing away, it appears in all the old likeness that they know so well! ,1'he tactics of the gold-bugs are not such us to Inspire confidence in their fi lends or to awaken admiration in the breasts of the neutral. Much sport has I eon mado by their or rans of the method which has been adopted by tho hidalgo who is doing the Cid Campea dor net so insignificant in Cuba. His belief that he is suppressing the insur rection by usinir his blue pencil un. I suppressing unfavorable war news.has been the foundation for no end of ai leged humor. Are the tactics of onr friends, the enemy, awakenintr any more respect? When they assure their followers that an overwhelming revo lution against silver In Misslssipnl hu.i taken place, and that assertion in a short time is proven to be a fake with a big F when they assei-t that thai revolution has extended to Georgia, . and the declaration turns out to be as fictitious as Weems's little hatchet story of Washington; when they rub their palms together unctuously un I write with a flourish as important as the philosopher who has evolved from his brain some divine, humanity-beno-flting idea, that thesentimentof silver is dying or dead, and then continue to fight the sentiment with the despera tion of so many stags at bay what does the publio think? Naturally, it concludes that Gen. Campos is the pro totype of many frauds and freaks in America. """trnh 'i "n inn o ft, miw of