People's Pilot, Volume 4, Number 19, Rensselaer, Jasper County, 26 October 1894 — THE SILVER AGITATION. [ARTICLE]

THE SILVER AGITATION.

Interest in the Question Is Opening: the Eyes of the “Wise Men of the East.” The financial authority of the New York Sun, who conceals his identity under the pseudonym Matthew Marshall, is disquieted because of the rapid growth of silver sentiment in the United States. It seems that he cherished the delusive notion that when the purchase clause of the Sherman law’ was repealed it permanently ended the debate over the silver issue. Now he is both grieved and astonished to discover that prominent and influential politicians in both parties want to reopen that debate. He thinks that the southern and western states ought to recognize the significance of the votes in the house on Bland’s propositions for free coinage at various ratios, and he laments that the democrats of an “old, conservative, and • rich northern state like Ohio should at this late day declare for the silver standard.” It may be objected that the Ohio democrats did not declare for the silver standard, but for the double standard, which is pure bimetallism, but Mr. Marshall is quite equal to this objection. He scoffs at the word bimetallism and declares there is no such a thing. His notion is that “we are all either silver monometallists or gold monometallists.” Furthermore, he believes that “ninetenths of our people do not know what bimetallism is either in practice or theory,” which may or may not be true, but with falling wages, the increasing power of the money-lender, lessening employment, and general distress ninetenths of our people are learning by bitter experience what monometallism is and are crying: “Away with it!” Mr. Marshal is surprised to find so many voters uncompromisingly declaring themselves for the free coinage of silver, so much “hesitation of politicians to declare themselves opposed to the restoration of silver at its ancient ratio,” and is disgusted at the marked tendency of the politicians to dodge the free silver issue and take refuge in talk of international bimetallism. In the latter respect the Times can fully agree with the Sun’s writer. It thinks with him that “the in ternational bimetallism which American politicians talk about is a dream incapable of fullfillment and its only use is to enable party managers to avoid openly refusing to support free silver coinage.” • But of the single gold standard for which the Sun pleads the Times has certain things to say. Under that execrable monetary policy mills are stopped, wages and profits alike are reduced, the farmer finds his utmost efforts barely adequate to support himself and his family without meeting the interest on the inevitable mortgage, the city artisan and wageworker of every class finds his pay cut down and his days of labor fewer, the merchant sees his customers coming less often and with less money in their hands, the manufacturer is compelled to shut down his mills because of “over-production,” or to cut the wages of his employes because of low prices. These are the conditions which gold monometallism has brought upon the people. The drain of money into the coffers of the money lender has eliminated profit from business, though the business man cut down the wages of his employes to the point of bare existence. They point to lowering rates of interest, but conceal the fact that 5 per cent, to-day means more wheat, more labor than 7 per cent, six years ago. While this situation continues —and it will not only continue, but grow worse—neither Mr. Marshall nor any other prophet of gold momometallism need be surprised to find the politicians and the people renewing the silver agitation. There will be no end to the agitation except its success.— Chicago Times.