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THE MUSIC TRADE REVIEW.
The Silver Side.
THE EFFECT OF FREE SILVER ACCORDING TO
A WESTERN CORRESPONDENT.
Editor Music TRADE REVIEW:
Your editorial of August 15, concerning
present trade conditions and the "silver
craze," has both the elements of fairness
and unfairness.
You are much more fair than the aver-
age gold standard editor when you attribute
the inactivity of the past two weeks to the
excessive heat of the period. Then, too,
you declare that "men are even now pre-
paring for an active business, as well as for
a political fall campaign." So far, so good.
The average editor would not have admit-
ted as much, but would have expended his
efforts in an attempt to frighten the reader
into a delirium over the silver situation.
Of course, you do show a little tendency
in the latter direction, but you are refresh-
ingly mild and gentle, and one does not
get the impression that an escaped lunatic
or, at the best, a red mouthed alarmist,
presides over the editorial department of
THE MUSIC TRADE REVIEW, an impression
which is only too easily gained of certain
newspapers and trade journals.
But you are unfair to yourself and read-
ers when you make the statement that,
what you are pleased to term the "silver
craze," seems to be on the wane. No doubt
the wish is father to the expression. You
are unfair to yourself in accepting "hear-
say" for it, because there are those now
whose sole occupation seems to be the be-
littling of the size of the silver movement,
as your informant is likely one of these;
unfair to your readers if you do not give
them the true situation.
Come out this way and circulate among
the farmers—and the farmer does most of
the voting out here—and you will hear
something that will mighty soon change
your impressions. You may hear belittling
remarks in the cities and larger towns, but
these will be made by people who are too
"nice" to approach the farmer closely, or
are made for effect. Keep your best eye
on the agricultural States, and in the mean-
while figure up the electoral votes of these
States and see how much consolation you
will derive from the operation.
You are again unfair in saying "Mr.
Bryan, although a clever orator, has failed
thus far to show how 53 cents worth of sil-
ver, with a Government stamp thereon,
will purchase a gold dollar worth a hundred
cents, or its equivalent." Nonsense, Mr.
Editor. Did you ever hear Mr. Bryan say
he would make such a showing, or did you
ever hear or read of his saying so? Stop
and think a moment, and you will realize
how unfair this statement of yours is. Mr.
Bryan has never said he would make such
a showing. Still, to-day we have "53 cents
worth of silver with a Government stamp
thereon" in circulation, that will buy as
much as a gold dollar.*
•True, but it maintains its purchasing power
only by limiting the coinage of silver. With our
Mr. Bryan wants free coinage, and be-
lieves that in a reasonable length of time,
under its operation, the bullion value of
a silver dollar, in every respect the same
in size as now, will raise from 53 cents to
100 cents, measured by gold. In other
words, he will give you a better silver dol-
lar than you now have, as it will have an
intrinsic value to correspond with its fiat
value, and will be a dollar the money
changers of the world cannot corner and
drive from circulation.
Every day your editors, your orators,
your campaign committees proclaim the
same result. These have claimed Bryan
to be in the pay of the silver combine.
Why so, if they were to have only a fifty-
three cent dollar? Surely the silver com-
bine does not want such a dollar. Your
campaign literature pictures them pocket-
ing from $40,000,000 to $75,ooo,oco annu-'
ally as a result of J:ree coinage. Your cam-
paign literature, your orators, your news-
papers, I say, make your position untena-
ble. The Silverite, however, Mr. Editor,
reasonably expects that a 16 to 1 silver dol-
lar will reach par with the. gold dollar, not
alone by the appreciation of silver, but by
a considerable depreciation of gold, owing
to the enlarged money use of silver.
After all a "fifty-three" cent dollar in
reality would not be such a bad thing.
What is a cent anyhow? Only the one-
hundredth part of a dollar. Nothing
more. It does not represent an immova-
ble value. What is a dollar? What the
law makes it—so much of this or that com-
modity—so much gold bullion or so much
silver bullion; neither does it have an im-
movable value. It should not have. A
dollar that is stationary or appreciating,
works ruin to all classes, but that class
whose business it is to deal in dollars—
who own and loan them.
The manufacturer (piano makers in-
cluded), the merchant, the laborer and
farmer cannot fail to be benefited by the
change, and they will be benefited, even
if silver does not reach par with gold.
The manufacturer buys his raw material
and labor, and sells the finished product;
money to him is a medium of exchange.
The merchant buys goods which he again
sells, so money to him is likewise a medi-
um of exchange. The laborer sells his
labor and buys the necessaries of life; to
him money is also a medium of exchange.
The farmer sells his produce and buys
articles of living, implements, etc., and to
him money performs the same function as
to the others. It matters not to these
what coin performs this function of ex-
change, so long as it has an intrinsic value
of some kind, and is free from the blight-
ing power of contraction and the tighten-
ing processes of the money lords. Free
coinage of both gold and silver answers
this purpose.
mints thrown open to the free coinage of silver, at
the ratio of 16 to 1, the parity between gold and
silver could not be maintained, the gold would be
driven out of the country and silver would depre-
ciate to its bullion value. The gold prop once
taken away and our silver would occupy the same
position as the currency of all nations which do
not have a gold standard.—EDITOR REVIEW.
The present industrial paralysis, Mr.
Editor, is not the result of silver agitation,
but is owing to a stringency in the money
market, which has been felt in every gold
standard country on earth, for the past
three or more years.
You hold up the Mexican dollar as a hor-
rible example. So do others. But you
and the rest have not and cannot show
wherein it is horrible. The Southern
manufacturer cannot convince his help, or
any other intelligent person, that paying
his wages in two silver dollars worth fifty
cents each, instead of one gold dollar, is
any detriment to him, so long as they will
buy just as much as the one gold dollar.
Such are existing circumstances relative
to the Mexican dollar.
You ought to be found on the side of
industry, seeking to calm the minds of
men, if need be, rather than on the side of
the money changers who seek to turn aside
the coming reformation by raising the cry
of "panic," another version of the old cry
of "stop thief."
O. W. GLEASON.
Detroit, Mich., Aug. 19, 1896.
Braumuller Co.
XTOTWITHSTANDING dull times the
1 1 Braumuller Co. of this city report a
steady demand for their instruments. Two
of their leading agents, the Jesse French
Co., of St. Louis, and the M. Steinert &
Sons Co., Boston, set high value on the
Braumuller pianos, supplemented by the
most valued kind of appreciation—orders,
which come in from time to time.
The Braumuller piano possesses merit
of an individual order, the tone of the
instrument is musical and refined, case
work invariably artistic and finish of the
best.
In dealing with the Braumuller Co.
dealers can rely on the most courteous
treatment from the firm, and, in addition,
feel assured that in securing the Braumul-
ler agency they have "done a good day's
work."
The "Capen" Piano.
PIANO that will be right in line for
investigation this fall is the" Capen, 1 '
manufactured by the Brockport Piano Mfg.
Co., Brockport, N. Y. The manufacturers
are making preparations to cater to a big
trade, and they should undoubtedly com-
mand a large clientele of dealers for their
instrument. Attractive in design, well
made and neatly finished, it catches the eye
of the purchaser and merits every claim
made for it. Dealers should keep their eye
on the "Capen."
A
AUGUSTUS BAUS & Co., 510-516 South-
ern Boulevard, have just issued a catalogue
containing illustrations of four substantial
and artistic designs of pianos, with interest-
ing descriptive matter. Dealers not receiv-
ing a copy of this catalogue should make it
a point to write the manufacturers.