The eagle., April 08, 1896, Page 12, Image 12

About The eagle. (Silver City, N.M.) 1894-1???

Image provided by: University of New Mexico

                
12
THE EAGLE: WEDNESDAY, APRIL 8, IB6.
achieve the greatest prosperity, is car
rying less than 69 per capita, China
and Japan, both on a silver basis,
have profited greatly at the expenso
of ludia since the mints of the latter
country were closed to the coinage of
silver for private account And now
Japan and China threaten the Indus
tries of the United States. The Trib
une goes on to says
"How much better off would be those
toilers when large numbers of them
were thrown out of employment be
causo of the reduced power of the
money capital, while those able to con
tinue at work were paid with the same
number of dollars per week or month,
while tho buying power of each dollar
was reduced one-half, as is deliberately
proposed by the follows who are howl
ing for free silver that they may sell
goods in competition with the products
of Japan?"
How much better off have those toil
ers been since the demonetization of
silver, since the debt paying power of
the dollars they earn has been cut in
two? Roracrabcr what the singlo gold
standard advocates told us when the
Sherman law repeal bill was under
discussion. Not one of their asser
tions and prophecies have proved true.
Talk about object lessons. Tho gov
ernment has Just borrowed 8100,000,000
and Issued 30-year bonds in payment
therefor. In 80 years It will have cost
tho country over 8200,000,000, and tho
people will bo out, under this great
single gold standard system, the 100,
000,000 originally borrowed, and yet
papers like tho Tribuno express fear
that under bimetallism tho gold will
disappear from tho countryl
Tho Tribuno uses the copyrlghtod
gold-bug term "50 cont dollar." It
says that 50 cents worth of silver passe
for a dollar becauso it has tho Indorse
ment of gold behind it. But, what,
irlves gold its flat and Indorsement?
Tho government. A melted 820 gold
piece brings 8'.!0 because tho govern
ment agrees to pay Unit sum for it ut
tho mint. It cnnnol bu bought for le.i.
urivwlioro.
The government places u llutltoitH.
urliilrnry price mi this metal and tl.u
lixos and re milites iu vulue. Elsu vli
should "old cusliirr ut tliu Indepeml
unce mine SI. 23 mi ouriou, at tho Victor
! 5. 87, ut the I'ortluud 8U and at the
liorart 1)3 con tk (many Klmiliir iiiHttiuct.'it
ml 'lit bo cited) bring S-U.Ü7 at thu
mint?. Before silver won demutielued,
in IH7!I, it was wort li more than guM,
ut tliu prevailing ratio. Neither gold
nor silver, lit ft civilized country win
servo uk money until the government
pnltt its stump on tho uiotul
Senator Nelson, object lesson i;t
Loinotliiug of u loorneruur, when iiiuil
I'V i. uc 1 1 newspapers as tiio Cliicau
Trlhuno. Ounver Times.
lunsuelion would Jut vo been belter,
but lio doubtless luid Hie syudicuto of
which he is a mem her iu mind. This
reutlcmun says: "If tlio treasury had
-rot ao(,0(M),ooo of new gold from tho
syndicate the rcs.-rvo would have been
so large as to remove all foars for a
considerable time to come." As it is,
lie outlook la good for a now loan be
fore, t liu year is out. This is a rather
lismiil prospect for tho people of tho
United States. Fortunately there Is
tu alternativo. lio foro many gold
imiiiH have been added to our public
lol't tliu gold reserve will bu protected
V partial payments of drafts witu sil
or. The secretary of tho troas.
iry will simply exorcise tho option
hut olilee lias always held to redeem
infill tender with coin. The guld
.t;imlaril fur a debtor nation is a costly
luxury. It seems to work woll tora
mition with capital to loan or Invest,
imt tliu very reason Unit makes it
work well for creditor nations causes
it to add to the burdens of debtor mi
lioiiH. Until Cleveland bocamo presi
dent, tho United States had kept bi
metallism In view. While not preparod
Ut assume. Hie responsibility of jpen-
iu;r Its mints to silver ut the old ratio,
(. held tliu double standard as tho
iii:l:i to be arrived at through proper
Icflisliiliou, The, Cleveland minimi:;
'..ration declared for an out-und oiit
old i.tuuiliird, mid has been Imrrowin '
;n. I to nuil n tain it during its entire
:! donee. The Wall street man tellu
ho country with brutul frankness that
ho borrowiiiT muut fro on. Ilu sees
in other way out of the present ililil-mlly.-Lian
l'Yuni!k;en lUilletiu.
FREE! FREE!
To all our subscribers
who pay a year in advance,
we will sent!
ntt
HUM'S SUMI WWa
A COuD GLUT.
THE WALL STREET VIEW.
Tim JlorrtiwIiiK Mint lo tin tu Keup lip tliu
Hold Jlmerve.
A member of tho Morgan syndicutu
thinks It would havo been bettor
lot the Morgan syndicate have t'.vu,
ikio.ihhi ut JOS thrill to sell l '.10 b imU .-.
Imiiio for 111. Tho ii"- -i!M hv'"'
man did not say for ,.;.oiu llic . i. ,
In tho fiild-liirr press urtielos and
cililorU'.ln on the ricino tide of 'oíd are j
be;rnnl!iT to take tho place of the old
time productions on the llood of silver,
and It la reully nmuuing to notice tliu
fUrlty with which the eastern writ
ers have made the transition.
I I here Is n long article in the curront
number of Harper s Weekly on tho in
eivar.ing gold production, in which it
is declared that "wo aro now face tc
.aoo with a condition not merely novo
lo our dav, but absolutely uniiiuo ir
hiutorv, a prospectivo glut of gold."
"ho developments of the rich place
,f Russia, tho discovery of new fields
m Africa and Australia, tho improve
moots In raining machinery, part cu'
k.tlvtho cvanide process, aro cited as
lio licencies that aro bringing about
'he new and remarkable conditions,'
T''i rurcs aro presented calculated to
shew thr.t tho production for 19'JO will
it jl bo less than 8300.000.000. In which
naso t'.io world's gold product will havo
liccc tripled within tho present decodo.
i Var is expressed that a monetary in
Li'.i r. or expansion would occur, such
:n ' -.oí eren t'.io ponulist dreamer has
birr J to ontor'aln inhlsmostl'offorian
Article Hko this call for no partió-
eminent from tho friends of silver
m o .(";. and the pooplo of Colorado
it; ivirirulnr The Inttcr 1rn ply sit
bacii cud b.iii.o. Owi.vcr Tunc
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