If Not Silver, What?Bookwalter, John W. (John Wesley)
History
If Not Silver, What?
Bookwalter, John W. (John Wesley)
Silver question
First of all there must come as a result a rise in prices. Farmers
receiving much more money would immediately pay their most pressing debts;
the release of idle money would break the deadlock which now paralyzes
trade, and from the farmer the money would at once be poured into the
channels of rural business. The consumptive demands would be tremendous
because of the long and forced abstinence, and the farmer would supply
himself with those things he has so long wanted. The railroads would have
a vastly increased business, and as a result there would be a greatly
increased demand for labor. Instead of the ruinous "cut in rates" which we
read of almost every day, made in order to stimulate the movement of
crops, we should soon hear of vastly increased shipments at profitable
rates; these of course would soon be followed by increased net earnings,
which would in time create increased values of securities, which again
would check foreign sales and stimulate purchases. There would be a boom
in stocks to dispel the gloom of Wall Street, and we should do the
money-mongers good in spite of themselves.
Is this all supposition? Well, we are proceeding upon the theory of the
monometallists, that a billion dollars' worth of silver and securities
would be shipped here. We are showing what must inevitably result if their
predictions should hold good--more money for the farmers, more business
for the merchants, more transportation for the railroads, and more
business for their correlated industries; and, as a result, more work,
abundant work, for those now idle. And this last would be the greatest
blessing of all. The benefit would be to the farmer, the handlers of grain
and all who serve them, to the retail tradesmen, the small manufacturers,
all the country artisans immediately dependent upon the farmer, and all
those who supply all of these classes. In short, there would be a general
quickening of all branches of production and trade as a certain result of
the transfer of foreign silver and securities for our agricultural
surplus. Is there anything in all this to alarm Americans?
ASIA'S DEMAND FOR THE PRECIOUS METALS.
Among the many errors which distort men's opinions on the so-called
"silver question" is the belief that the gold supply of the present and
near future need be considered merely as it may affect Europe and America.
Asia and Africa are in most men's minds entirely excluded from the
calculations. The popular belief in the United States may be briefly
stated thus: Asia is and is long to be the land of stagnation. Asiatics
are unprogressive and will remain so. In contact with the higher
civilization of Europe the yellow and brown races are likely to fade away
as did the Maori and the American Indian; or if they continue to increase,
their trade and government will be conducted chiefly by Europeans.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account