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The increased valué of gold, dne to the...

The increased valué of gold, dne to the... image
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The increased valué of gold, dne to the fact that since 1873 it bas had to stand as the sole Standard of value to measure the wealth of the conntry, inetead of gold and silver as previeras to 1873, has caused falling prioes. It is well known that business is better and a country more prosperous with rising prices. Herein lies a strong argument for restoring silver to its old position with gold. ■ - - The plutocrats who are describing tbe terrible ooudition of affairs if free silver coinage prevails, forget that the free coiuage of silver is no experiment in this country. For 81 years this country lived under free silver coinage i aud it is all here yet. The plutocrats : talk of the panics which woald ensue under f jee silvtr coinage. They forget tbat most of the panics nf this country bave oocured sinoe 1 S 7 3 , when free silver coinaee ceased. t Nothing more was ueeded to make the poor rally to the support of Bryan thaa the ostentatious aud haughty combination of the rich to oppose him. For weeks now our eais have been fllled with the announcements of those who were goiDg to repudíate the Chicago ticket. Tneir naiues have been alded front oue eQd of the ccaintry to the other, and tbeir iiames have rnade the canse of Bryan strong, because they are the naines of wealthy men. If it has already beguu to appear tbat the coming contest is to be a contest beiween the rich and the poor, the rich are themselves to blame for it and they will have only themselves to hold respousible for the resulta. If anybody thinks that the epectacle of the rnoney lenders marshaling themselves iDto au army to carry on a political fight, will be viewed with apathy and indifference by a sorely tried population of the poorer classes, he simply shuts his eyes to the real conditions. Causes are identified by the men ho support tbeiii. It is useless to teil the workingman that the gold standard is the buhvark of his liberties, and that free coinage is his ruin, when he sees arrayed with gold the men he has come, rightly or wrongly, to regard as his eneinies, and with free coinage the jnen he has come, rightly or wrongly to regard as his friends. The uprising in honor of the boy Bryan is significant of the hostility which is feit for the men who are opposing Bryan. That is the thing to consider, and it is Dot a 'hing that can be profltably disposed of with sneers. - Detroit Tribune. It has been deuied tfaat the deiuonetizatiou of silver caused the price of silver to drop, or that the remouetization of silver wnnld raise its price. This denial was answered on a street corner argument in this city by an analogy. Corn and oats, said the speaker, generally keep pretty vrell together in price. If oats go up very rnuch higher than corn, üorsemen feed corn, and if corn goes np they feed oats. Now if all the horsemen in this conntry agree not to nse oats for horsefeed, it is plain tbat the price of oats would very materially decrease and also that at the same time the price of oats would very materially increase. This is what has aotnally happened in the case of gold and silver. At the time f ree coinage was taken from silver, gold and silver were pretty close together in price at the accepted ratio of 16 to 1. Since then,gold alone constituting the Standard of money, gold bas greatly increased in value and silver has greatly declined. That this change in relative value is not due to an overproduction of silver is plainiy shown by the fact that from 1873 to 1894 the production of gold has been larger in comparison with its previous production than has the production of silver during the same period. The exact figures may be thus stated : Frotn 1873 to 1894 the productión of gold in the world was 41.7 per cent of all the gold produced frorn 1493 to 1872, while froin 1873 to 1894 the production of silver was only 37.3 per cent of the silver prdouced frora 1493 to 1873. These figures are compiled from the United States mint report and cannot be gainsaid. We do not need to go outside of the repnblican press for expressions of opinions against Pingree. The Adrián Times, whioh has never wavered in its allegiance to republcan principies has said of him : "Probably the most blatant humbng that ever obtruded himself into the political life of the state, is the gentleman, who, masquerading as a republican, has rattled around in the rnayor's office at Detroit for the past three or four terms. "Posing as a reformer, an ecouomist and a friend of labor, this man has done nothing but demoralize the various departmsnts of the city governruent, waste the public revenue, and increase the burdens of the tax paying portion of the eommunity. The public debt of the city has now grown to an amonut something in excess of 3,000,000 during the administration of this model mayor, while local taxes have been angmented over 35 per cent. by an inorease of valuation, while real estáte was really at a stand stil], or else depreciating in value. "How much he is 'a friend of labor' as he so ucctnously professes himself to be, tnay be jndged by the fact that not ruany years ago, one of the bitterest labor strikes in the industrial history of the state oconred in au establishment with which he was identified, aud only a few weeks ago the telegraph ani nounced that the lasters in his ernployment bad sought redress for their grievanees by 'going out.' A fine 'friend of the poor laboring man,' fellows of the Pingree stamp always prove tbemselves to be. "


Ann Arbor Argus
Old News