Democratic Sentinel, Volume 22, Number 43, Rensselaer, Jasper County, 5 November 1898 — THE SILVER PROBLEM [ARTICLE]

THE SILVER PROBLEM

Some of the Results of IJe Demonetization In the Interest of Bondholders. Wealth Has Been Concentrated In the Hands of Four Per Cent of Oar Citizens—Women and Children Forced Into Factories to Assist In Supporting the Laborer's Family. The conspiracy entered into by men in the United States and in Europe io demonetize silver and establish the gold standard, means more and far more than the degredation of silver. It means the absolute control of the money of the republic by virtue of which those in the control of the money will eventually control the business of the country, control congress, legislatures and the courts, and there is not in the land an intelligent patriot, one capable of comprehending cause and effect, who does not utter notes of warning. It is not expected that events which cast their dark shadows in advance will come as cyclones come, but will do their work as Jefferson affirmed would be done by the iucroachments of the supreme court, which he pronounced “a subtle corps of sappers and miners working underground,” and “like gravity * * * gaining a little today and a little tomorrow,” until their purpose is accomplished. The mariner in midocean, with a clear sky above, without a cloud from horizon to zenith, is not satisfied that he is to have continuous fair weather. He consults his barometer, and if that gives no indication of a storm, he flings out more canvas and sails on. Not so, however, if the barometer tells him a storm is brewing, in which case vigilance is the watchword and the ship’s crew stands ready to take in sail and reef topsails that the ship may escape disaster. The demonetization of silver came upon the nation like a clap of thunder from a clear sky. It was as adroit an act of treason to the nation as was ever conceived —and worse, a thousand times more infamous than the treason of Arnold—and has been fruitful of incalculable ruin. “Bimetallism,” says Hon. John E. Osborn of Wyoming in congress, “has been thoroughly tried and has never failed to keep this body politic sound in wind and limb. * * * * We are told, however, that the republic has more wealth today thau it had in 1878. True; but who today owns the wealth of this nation? Under your systen of confiscation a large portion of the earnings of the masses has been misappropriated by the few. Four per cent of our people have been permitted under this system to absorb mere than 80 per cent of the nation’s entire wealth. In the states of New York and Massachusetts, where the greatest wealth is concentrated, we find existing the greatest proportion of poverty. In these states, around which an insurmountable wall of protective tariff has been erected, one-third of the support of families falls upon helpless women and children, who ought to be at home by the fireside. They have been driven into the factory and sweat shops, because husbands, fathers and brothers cannot earn enough to provide food and raiment for those dependent upon them.” The wealth of the country has passed into a few hands, because of vicious legislation on the money question, and the trend continues in that direction. “Before the resumption of specie payments,” says Mr. Osburn: “When we had neither gold nor silver in circulation, we had no trouble in settling our trade balances with foreign countries and in retaining their confidence. During that time our growth in wealth, in population, and in commercial importance was without a parallel in history. Just think of it. This great nation, with its industrious and enterprising people, a nation whose productive capacity of aU the world needs is only limited by what the world demands of us, a nation which Gladstone tells us has the foundation for the greatest continuous empire ever established by man, a nation which, we were told by General Grant, could support 000,000,090 of people, and yet today, with but 70,000,UOO of peoples 10,000,000 of them are suffering for the actual necessities of life.”

One of the vicious reasons assigned for the war upon silver is that to remonetiae it and accord it the rights at the mints given to gold would benefit the silver mine owners. Referring to thia objection, Mr. Osborn says: The privilege of prospecting and mining in the western country is not monop olized by a close corporation, as iathe case wit h some of the leading industries in the east. But do you know, sirs, that in the state of Colorado, our greatest silver producing state, and our greatest gold producing state, too. by the way—l say do you know that in the state of Colorado the value of her farm products Is double and the value of her factory products is more than quadruple the value of her entire silver output ? While if stiver had never been demonetized the mine owners would have realized during the last 35 years something like 1270,000,000 more than they have realized, during the same time the ootton planters would have realized not less than 18,000,000,000 more and the wheat grower not less than 83,500,000,000 more than they have realized. Without itemizing the greatly increased profits which would have accrued on other products of the farm, I feel justified in stating, after a careful study of the most reliable statistics to be obtained on this subject that the loss sustained on farm products alone during the last 35 years, while the price of the dollar has been steadily appreciating and the price of all commodities steadily depreciating, reaches the enormous sum of 135,000,000,000. One billion dollars a year has been lost by this system of contraction. One billion dollars a year means about 18,000,000 a day. ’ That is more than it cost on both sides to conduct the late civil war Just think of itl A greater continuops dnala on the American farmer, day after ; . . •- Ji

day, year after year, decade after decade, than that oocastoned during the five yean of that dreadful civil war. Why, this loss is more than double your entire tariff revenue receipts, your internal revenue receipts and your miscellaneous treasury receipts combined. Yet we are told that other questions are more imjwrtant, that we must leave this British financial legislation upon our statute books until haughty England and a few poor deluded American anglomanics kindly condescend to let free Americans legislate for themselves. The cause of this incomprehensible loss is finally attributed to our friends on the other side to overproduction of commodities. And yet statistics prove that from 185 J to 1873 the world’s annual increase in the production of all commodities was 2.8 per cent, and yet prices advanced daring that period 20 per cent. From 1873 to 1883, the succeeding period of 80 years after the demonetization of silver, the world’s annual increase in the production of all commodities was but 1.6 per cont, and yet prices fell during the latter period 32 per cent, and are now, as we all know to our sorrow, with but one or two abnormal exceptions, lower than ever before since the discovery of this continent.

No, Mr. Chairman, it is not overproduction of commodities; it is underproduction of money which prevents a proper distribution, and hence a normal consumption of the commodities we are producing. There can be no overproduction of breadstuff* or wearing apparel while the masses are cold and hungry. In 1873 ,the American people were consuming about six bushels of wheat per capita, and they were paying |1.30 a bushel for wheat. In 1895 they were consuming but a little more than three bushels of wheat per capita, and yet wheat had fallen to 67 cents a bushel. Now, It is fair to presume that our people needed as much bread tn 1895 as they did in 1873. but they could not earn the money to buy the bread they actually needed. Thus it happens, from whatever point of view the subject is discussed, we find only rapine and ruin following fast, and following faster, until tne sum total defies exaggeration. In 1896 there were more than 6,500,000 of American patriots who voted to emancipate the nation from gold bug and gold standard domination, they will vote the same way in 1898 and in 1900, and on through the 20th century. There is something in a name, and, to the American people, “patriot” is better than “pirate.”

The rubber trust has reduced cost of production, ha? reduced the number of wageworkers employed, nag reduced the pay of its laborers and has disrupted competition. it raises the p-ices of its poo' 's 5 per cent, and the consum ers will have to pay it.

Mrs Polly Owens, who recently married William Owens, in White River township, Orange county, Indiana, is a much married woman. She is now living with her thirteenth husband. Several of bn foamer . usbands died, but she separated from the larger r umber of them. She is about fifty years years of age and has six children, no two of whom have the same name.

At a meeting of the officers of the Jasper Circuit Court, an I the members of the bar thereof, the following resolutioni were adopted in memoriim f Al fl. Fannie T. Dwig^ins: In the matter of the report of theeom, mittee on the death of Mrs. Fannie T. Dwiggins, the committee heretofore appointed now present their report, reading as follows, to-wit— It is eminently proper that the mem bers of tne bar and court cfficers’should be harmonious in performing the noble duties of guiding others by ihe chart and compass of the law, this giveih honoi and y to our professional charac ter. On Thursday, October 20, 1898, ra the mid-1 of active duly our elder brother, the Hon. R. R. Dwiggins, was apprised of the sudden death, at their home in this city, of his wife, Fannie T. Dwig gins, the companion of his life for thirty six years, most of the time living ir> Ren .seine' , Indiana. The bar and curt officers therefore se'iced a committee to give expression on toe records of the court of their sym patiiy, condolence and respect The ommittee recognize ihe delicacy of the task as.-igued and ful y appreciate bow mu h easier it is to master griefs not our own. No loss is more keenly felt than that of a good wife at the close, of a long and faithfully Kept marriage vow- This pair were truly helpmates In public teaching and truly illustrate what a sacred thing is the life we have- \\ e feel that after the common thought which goes without saying that we honor the dead, and respect the living consort, that few words are best and we present tho so lowing resolution, whieh with this preface we ask may be spread of record as the unanimous sentiment of the bar andofficeis of the Jasper Circuit Court. Whereas, the Hon-jßobert 8- Dwiggins, the oldest member of this Bi.r has lost by death his life companion, worthy and faithful, the D’vine Healer alone can bind up his g.ief laden’heariTherefore, we members of the Jasper Gireuit Court bar and court officers to Mr- Dwiggins and surviving friends and kindred tender our heartfelt symphthy for your loss and deepest woeWe ask, Mr. Dwiggins, that as we bow our heads in sorrow for your loss and breathe our words of condolence to the winds that know no limit and aion our sad tears on the ocean of time the hear ing of whose billows never ceas:, we ask you to accept enr condelence and sym pathy aud may God lead all our foot steps in right paths as we travel through life until its sunset. The life that has passed was actively devoted io the public good, intending a greater human liberty, with knowledge and compassion and the plaudits of the Good ar d Faithful can and will be ac corded to the memory ol Fannie T. Dwiggins. Respectfully submitted, Simon P- Thompson, Jessk E- Wilson, C- E- Mills, Committee