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Should the stock of gold in this country...

Should the stock of gold in this country... image
Parent Issue
Day
2
Month
October
Year
1896
Copyright
Public Domain
OCR Text

Should the stock of gold in this country be moved over to England, some other form of wealth would come back in its place. What form of wealth could be less useful than gold'? Efforts are being made to get up a junketing trip to Major McKinley's home at Cantón, Ohio, frorn this city and vicinity. It is expected that fully 600 will make the "pilgrimage" to this Mecca of modern republicanism. We are not possessed of the idea that the government can make something out of nothing, but we do believe that an increase in the stock of priraary money means a depreciation in its purchasing power and a consequent rise in theprice of commodities. Mr. Farmer, bas the cost of educating your children, of supporting your county, state and Federal governments, of paying your preacher, doctor and lawyer decreased as your land and its products have decreased under a gold standard V Look up your tax receipts and oíd bilis and see. The story that any candidate upon the silver ticket is trying to increase bis chances of election at the expense of others upon the ticket is a gold bug lie. The silver candidates are all wool and a yard wide, and they don't need to resort to common every day republican methods to secure election. It has leaked out that Billy Judson's plan of campaign is to hire democratie werkers against Lighthall in each tovvnship. Democrats who want to work against Hi Lighthall for good, hard republican money, should apply at the sheriff s office at once. It will not be a desirable job and they should put their price high. Any of the Argus readers can obtain the statistical abstract of the U. S. treasury department, the report of the director of the mint and the report of the contioller of the currency by writing to the heads of the departments at Washington. They contain a fund of valuable informatinn on the questions of this campaign. A decline in prices due to cheapened methods of production is a blessing to mankind. It benetits all to the detriment of none. But a decline in prices due to an appreciation of the material whicb. is made by law - the standard of value- is of advantage solely to those who deal in money. Under its blighting ettect the debtor must suffer, trade becomes cramped and industry falters. E. A. Nordman, the nominee of the Democratie, people's imion silver party ticket for the legislature, is a wortLy representative of the type of well-to do and well informeel farmers, whoare a credit toWashtenawcounty. He has lived for many years upon his farm in Lima, and enjoys the respect and confidence of all who know him. He is the farmers' candidate, and they will not forget it on election day. The suggestion of the Times, that Chauncey Depew be secured to advise the people of this city how to vote, is a good one. Depew is the son-in-law and suecessor to the Vanderbilt, who gave voice to the now celebrated sentiment, "the people be damned." This representation of New York's aristocracy, who have ever been screwing down the wages of labor and increasing their extortiou from the public at large, would make a model advisor upon matters pertaining to the welfare of the laborer and the farmer. That advice would be received with the same confidence that one treats the business end of a Missouri mulé, and this too, without any disparagement of Dr. Depew's attainments as a scholar and an orator. Will some one rise and explain just what we want of British gold at this juncture, or why we should be so solicitous of our national credit. We have resources unparallelled by any other territory of equal extent. We have a population as energetic, resourceful and industrious as any upon the face of the globe. Eise and explain, if you can, why the magie touch of British gold must be had before this population can enter upon and fashion its own resources into wealth? The despised greenback fought the battles of the civil war and conducted the business of one of the most prosperous eras in our national history. During that period we bought and sold at home and abroad, manufactured, developed industries, increased in wealth aad population and fought a stupendous war with its consequent destruction of wealth without the aid of gold. Must we be chained to it in an era of perfect peace? As a nation we aresellers not buyerá. Would it not be better for us to be concerned about the other fellow's credit than our own'? Mr. McKinley says that the importations made under the Wilson bill have stopped American miils. Let us analyze that statement. First, the statistical abstract of the U. S. treasury shows that importations have been less under the Wilson tariff than under the McKinley tariff. But let that pass. It is not material. The question is the influence that a few millions more or less of foreign importations have upon domestic industry. The value of the domestic manufactures of this country is placed by the government statisticiau at 9,000 millions per annum . The largest foreign importations since 1890 is placed by the same authority at' 157 millions, the lowest at 142 millions. Both are less than 2 per cent of the manufactured goods consumed by the country. By what perversión of logic can 2 per cent more or less be made to answer for the disaster that has fallen upon the productive industries of this country? It offers no so lution. The true solution lies in the appreciation of the standard of value, which means a depreciation of all property measured by it.

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Subjects
Ann Arbor Argus
Old News