Crawfordsville Review, Crawfordsville, Montgomery County, 24 October 1896 — Page 7

MANUFACTURERS NEED SILVER

Hon. Charles R. Sligh, President of World's Largest Furniture Fac

tory

and Always a Republican Till the St. Louis Platform Was Adopted.

FARMERS AND WAGE EARNERS

Tho president of the largest furnitnro factory in tho world declares for Bryan and the renionotizatiou of silver in tho following letter: "SI.IC.II FUI:N'ITI KK Co., "GHAND HAWK'S,

AHf.li., Sept.

^'Colonel U. M. .1 oliH

I11,

I'.lkliart, Iml.

Dear Sir—It a (lords me pleasure to •comply with your request to submit a few reasons, from a manufacturer's standpoint, why the independent, free and unlimited coinage of silver by the.

United States would be benelieial to our country. "It, is a well established principle in finance that the quality or value of money is regulated hv tho quantity, and v.that the quantity of all the money in \itlie world regulates the value of all A commodities and products that are bought and sold. If the volume of money is large prices will be high, and if money is scarce or horded (and if it is scarce it will be horded) prices will be low. This principle has been repeatedly demonstrated in all times of the world's history, and the men who secured the .'demonetization of silver were perfectly familiar with it. They were the moneylenders of the world who desired that their money should become more valuable, and they accomplished their ends through corrupt and dishonorable means.

The results of demonetization havo, justified their .•judgment, and, while it of doubt, but that tin lirts brought misery to millions, it has) American manufaci aiv doubled the value of their dollars, and I rection ot th

in its culmination in tho last two years has brought, lie producing classes and! the manufacturers to the verge of bankruptcv, and if continued for two years' longer, three-quarters of the manufactui'ing establishments now operating •will be wiped out of existence, and their plants will pass into tho hands of the money-lenders, who will acquire them at from one-quarter to one-third their value. Tlie election of McKinley, which promises nothing but higher taxes and a monopoly of the spoils, cannot avert this disaster, as the tJnited States senate is anti-gold standard and sure to remain so for at least the next four years.

The Only Hopi-.

"The only hope of the producing •classes is in legislation that will cheapen money, thereby compelling it to seek investment in productive enterprises, employing idle, labor and making a market of farmers' products. The •onir way to cheapen money is to make more of it. With our mints open to the I •world's silver, as they wore previous to I 1$7!5, and as they are now to gold, the demand for gold must be lessened, and its value thereby decreased, and the doujand for silver must be increased, and ,it.s value thereby appreciated, ultimate-i _ly bringing the two to a parity.

I low (ho Farmcra Arc. Situated. "All manufacturers who understand this question are convinced that no last-1 ing prosperity can bo attained until tho agricultural classes (one-half of our pop-! ulation) receive prices that will givu' them a profit on their products, and that thev can securo better prices under a

gold

standard is absurd to contem

plate. Our farmers today are selling their surplus products to Europe in competition with Russia, India, Argentmo and other countries in which geld is at: a high premium. It is this premium on gold which acts as a bonus on exporta-J tion and has stimulated production in all silver standard countries, the farmers' there are getting as much for their wheat, cotton and other products now as they did 20 years ago. while our farmers are getting only half as much. "This is accounted for by the fact that pivvious to 1S73, when England bought our silver to pay for purchases in India, Russia, etc.,sho had to pay $1.ft) an ounce for it, while now she is buying it for tiU cents an ounce, and she can secure the same quantity of products from those, countries now for an ounce, of silver that she could then. Under free, coinage by the United States, silver would be worth §1.29 cents an ounce, and no one would sell it for less, because he. could take it to the mint and realize that therefore, England would be compelled to pay nearly double what she pays now for our silver, and this would mean nearly double cost to her for the wheat and cotton she buys of India, Russia and Argentine, and a corresponding increase in the price in the United States. This would enable our fanners to again become consumers of manufactured goods, which they havelargely ceased buying during the last three years, and would afford a home market, not only for our protected industries, but tho {vast number of manufactures which are not directly benefitted by a high protective tariff, chief among which are furniture, agricultural implements, bicycles, iron, leather, carriages, oils, tablets, etc.

Manufacturers Threatened.

"The manufacturers of the United States arc also threatened with a competition from the Asiatic countries, that uniler a gold standard will be blighting in its effects. "The premium of J00 percent on gold in Asia has stimulated manufacturers there, as it has also in Mexico, and with labor at only 20 cents a day, it gives them an advantage that cannot, be overcome in this country under a gold standard. "An Asiatic manufacturer can ship his goods to this country and receive his price in gold, which grives hiui 100 per cent bonus besides his regular profit.

That they are not slow to appreciate this is evidenced by the fact that Japan exported to the United States in 1800 $!),010.710 worth of goods, while for 1805 she exported to us §27,554,7(54, as reported by William E. Curtis and Con-sul-General Mclvor. Free coinage in tho United States would bring tho Japanese up to our standard and obliterate the luO per cent difference in exchange.

Fr«« Coinuge.

"Free coinage in the United States would not only increase the price of onr farm products, but would largely increase our trade in manufactured go:ds with all Latin-America, as it would enable them to pay in silver for purchases instead of gold at 100 per cent, premium as they are now compelled to, and would eventually lead to the consummation of Blaino's idea—a Pan-Ameri-can dollar, which would be a legal tender in every country on this western continent. "I urge manufacturers everywhere to study this question and lend their intluences to the election of tho only candidates wliu can bring relief—Bryan and Sew-all.

QHAUT.I-S R. SLIGH.

'•Presideur Sligh Furniture Company, Grand Rapids, Mich." Always Active Kopiibllciiii.

Mr. Sligh has always been an aetivo Republican until the St. Lotrts convention adopted the gold standard policy and "went back on its whole history," when he, with hundreds of thousands of othor patriotic Republicans, refused to follow after strange cods and became parties to the crime of attempting to fasten on the United States the financial policy of England and the bondholding aristocracy of Lombard street in London and their Americau-Tory-Wall-street-annex of this country, and openly declared themselves for such a policy as would sustain and protect the interests of American common people and prevent the doubling of our public and private debts to Europe and the

Loudon holders of our public and priI vate securities.

There

can be no partiinterest of all lies in the di-

remoii''ti7!.ition of silver

and that the raising of the raritV. as proposed by McKinley and llanna, 'vill drive them Mill further to the wall than the}- now are, and thus subserve tho very end which tho British lords of finance aimed to secure by their procuring our congress, without the knowledge of our people, to demonetize silver in 187:1. Tho gold standard policy will destroy our manufacturing interests is well as our agricultural interests, as!Mr. Sligh so clearly shows, and these destroyed, British manufacturers will havo a clear monopoly 6? the markets of tho world and will soon render the United States dependent upon them for all the goods anil merchandise consumed by our people. Every manufacturer of the United States ought to read this article, ponder it well and follow its concluding advice and vote for Bryan and Sewall.

'THE FRIEND OF SILVER.

How ISynum J'osetl lleltiro Colorado Audfenee Five Vearn Ago. The Denver News of Oct. 15, 1S91, printed the following cartoon and report of Mr. Bynum's speech in that city on the dav before:

DO\

COXr.RESSM.tN llVNl'M.

"I have always voted for free silver and ulways will." Tho Friend 01 Silver.

Mr. Bynuin said: "I have always been in favor of free coinage of silver [applause] and I don't desire to advertise my own record, but in this connection I think it not improper to say what action I have taken in respect to this question. I was on the committee on coinage in the Forty-ninth congress and was one of tho three members of that committee who roportod tho bill in favor of free coinage, away back at the beginning of Mr. Cleveland's administration. [Loud and prolohged cheering.] "I have voted for free coinage from the. time the question has been before congress, and will do so every time the question comes up. [Renewed cheers.] I am willing to rostorw a silver basis. I am willing to restore, as' McKinley calls it, the 87-cent dollar, a dollar going down to that figure. But I want to say this, if we are unable to maintain free coinage or the parity between tho two metals bv free coinage of silver it is because of this prohibitory tariff (tho McKinley bill, now repealed) and nothing else."

Are you a member of organized labor? Are you not bound by every pledge that is sacred, to exert every effort to pro tect yourself and your brother from harm that may come to him from within and from without your order? Are you true to yourself or true to him, or your loved ones at home when by your vote you place the insolent, arrogant labor-hating Mark llanna (who will then control McKinley as he controls him now) in a ngaittob te disrupt Wtrjr labor uuifti i* tffe

THE PROOF

That British Manufacturers Are Requesting Their Employes to Contribute Money to the McKinley Campaign Fund.

Bccause the Election of Bryan Will Open American Mills and Raise the Price of American Farm Products, Injuring the British Importers and Money Lenders.

[Several days ago a letter from George W. Francis, of Pierre, S. D., who is now visiting his old home in England, was received by his old friend .John .Tames, a fruit farmer of New London, near Kokomo, Ind.. who permitted its publication in the Kokomo Dispatch. This letter was such a remarkable revelation of the attitude of the English capitalists and manufacturers in the present effort of Hamia and McKinley to perpetuate upon the people of the United States the P.ritish gold standard that its authenticity was immediately (questioned by tingold standard press. Three pages of the letter are therefore produced in fac simile below, the second page being omitted in order to get tho matter within two columns. Tho complete letter is published elsewhere in this issue.—En.)

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Mas again opened up for business, and will handle nothing but the finest

He handles "Kxport," "Old Monarch.'' "Overholt" Rye, and "Old* Crow" Whiskey.

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Remember the place. On the Lafayette Pike.