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Newspaper
Marshall Statesman
Location
Marshall, Michigan, United States of America
Date
Aug 28, 1896
Page
3
A Populist pamphlet argues demonetization of silver caused cotton price declines. The piece shows price drops from 1865 to 1896, noting bale value falls despite silver availability, and concludes the history does not support the claim of silver’s impact.
An analysis argues that cotton prices fell due to currency law changes in 1878, not free silver. It notes cotton output rose after 1878, with 1892 yield at 9,035,879 bales versus 8,930,508 bales in 1873, suggesting higher production driven price declines rather than monetary policy alone.
The piece argues against free coinage asserting it would not lower costs for farmers. It claims lenders would raise interest to guard against depreciated silver dollars, making loans dearer. It cites higher rates in silver using countries versus gold standards and questions the payoff of cheap money for mortgage holders. It recalls 1861 to 1878 period as evidence of speculative turmoil.
The argument warns that free silver would raise loan defaults as creditors seek full value, trigger a financial panic, freeze credit, close factories, and destroy farm demand. It claims investment would dry up, unemployment would spike, and foreign trade would suffer with unsettled prices under a silver standard.
Milwaukee Aug 26 The Republican club quad code convention opened at 11 45 am with General McAlpin of New York energized supporters, speeches by Cummings and J M of Minnesota and a party-spirited crowd of about 500 delegates. Resolutions and platform were to be debated with adjournment planned after a full afternoon session. The presidential contest narrowed to Woodmansee of Ohio Gordon of Minnesota and McAlpin of New York.
Toledo reports the Canadian cup defender Canada defeating the Chicago challenger Yostening in the first International race. The winner finished in 5 hours 49 minutes, within the time limit by 11 minutes, in a mostly drifting wind with brief 12 mph gusts. The Vencedor gained only in stronger wind but the challenger faltered. wind under 12 mph may decide the race.
A Trade Journal urges voters to consider how silver coinage would affect money value and trade. It compares gold and silver dollars, discusses inflation effects, and asks what labor, livestock, lumber, or machinery could be traded for money. The piece questions future purchasing power and urges prudent voting in November.
Fragmented notes show a broad sweep of events from murder trials in Eyster and Neb to incidents in Willmar Minn and Creston Ia. A Boston Globe writer recalls endurance feats, and political maneuvers surface with Hawthorne and Bryson. Fires devastate inns in Creston and Buffalo. prison releases and strikes ripple through.
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