Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1881-07-27
THE SILVER DISCUSSION

There arc mono 50 blind as those
who will not see. The monometalists
affect to regard the international mon
etery conference as a scheme to bull
the silver market and to place it on a
fictitious basis They say silver must
rest on its merits relatively with gold
and commodities generally. Meaning
by this that the cost Of producing it
must determine its value, and that no
other fact can determine its permanent
value This remark is either uncan-
did or superficial Docs not every one
who thinks know that cost of produc.
tion OF an article often depends upon
the amount to be produced2 For ex-
ample, the demand for the products of
agriculture is SO great that not only
the best and most fruitful soils are
worked, but others, such as yield hnr.
vests only with great expense of labor
and fertilizers, and then in meagre
quantity, are also cultivated. The
price of agricultural products is gov.
erned and fixed by the cost of produc-
ton on the least favorable soils. In
other words chain is no stronger
than its weakest link. So with silver.
II it requires sl,3OO,OOO,OoO of silver
to supply, as is now estimated, TWEEN.
ty-four of the leading commercial coun.
tries Of the world with circulation, and
by demonetization Of this metal in
three.fourths Of these countries $780,.
900, 900 only be required, all the least
profitable mines would be abandoned
and those worked only which would
yield at the least expense of labor.
Each dollar of the s400, 900, 900 could
be produced at less expense of labor
than each dollar of the 81 1900, 600, 900.
The potent factor, therefore, in deter
mining the value Of silver by the
standard of cost Of production would
be the extent Of the use to which the
metal is devoted and the consequent
demand for it. II is against the do.
monetization and the inevitable result.
ant curtailment Of demand that the
friends of silver money are battling.
No doubt silver can be made no better
than base metal if it is not allowed
to perform the office OF money.
When it is sought in Germany and
other countries TO restrict and destroy
the demand for American meats by
industriously teaching that our cattle
and hogs are diseased, every friend of
American agriculture and every jeal.
ous man of business Indignantly pro.
tests against the blow at our interests.
1t requires no argument TO provo that
If the leading countries refuse to use
American meats that, restricted to this
Continent, the demand for them must
fall off and the price decline. The
chief use of cattle and hogs is for food.
If they are not available for meats
they are of little value. The chief use
of silver is for money, and if it is not
available for this purpose, like reject.
cd meat, il becomes worthless. The
strange feature in this discussion is
that there is single American who
favors the destruction Of one of the
large products Of the United States.
All that any friend Of silver money
demands or desires is that 1t shall not
be dishonored by any sort Of demone.
tiEntion or restriction OF its coinage,
but that 1t shall remain what IT has
ever been since the day when Abra.
ham bought the field of Macpelah as a
resting place for his wife and paid for
II with silver. To first dishonor silver
by dcpriying it of the quality of money
and refusing to allow it to perform the
office which has belonged to it through
all the ages of the world and then cry
on dishonest dollars" and stigmatize
II as a fraudulent currency" is but an
effort on the part Of the monomotal.
lists to take advantage OF their own
wrong.
The Paris conference has adjourn.
ed. II did nothing definite; but
spirit of inquiry is abroad and will no
doubt result in good. The representa-
tives Of countries not having tithc of
the interest in the subject we have
were found to be well rooted and
prounded in tha doofrines NJ h;na,al