Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1896 edition. Excerpt: ... .The silver advocate says: -- "Every nation which goes to the gold standard increases the demand for gold, and every increase in the demand for gold raises the purchasing power of an ounce of gold and lowers the purchasing power of wheat and corn and other products of the farm. You enshrine gold as the one thing to be desired and all mankind pays tribute to the golden calf. "While we want to get rid of the gold standard we must keep the thing which we don't want until aliens shall bring ns the relief which we should achieve for ourselves.-- [Bryan's speeches. Economist replies: -- The purchasing power of wheat and cotton are not in any way affected by the question of a gold standard in foreign countries. Cheap labor in Russia, Egypt, and India can put these products in the warehouses of Liverpool cheaper than Iowa, Dakota, Minnesota, Illinois, or Kansas. It is that fact and not the kind of money used in payment which governs the price. India is on a silver basis, and practically so is the Argentine Republic, their crops are paid for in silver; the English merchant first buys the money of the country with which he trades, and then pays it out for the commodities he wants. When wheat brought $1.35 per bushel in Dakota the price of gold and silver bullion in New York and London had nothing to do with it. The demand was great, crops were short, and the supply was relatively small, it was purely a question of supply and demand. And now when wheat is worth about one-third what it was then, it is still a question of supply and demand, and the 'rise of gold' or 'fall of silver' has nothing to do with it; the controlling factor is, how much have the competing countries got to sell and at what price will they sell it? If the legal tender clause...
