Omaha daily bee., 1883-06-28
The Anti-SiIver Fallacy.

st. Louis Republican.
1t is urged by the anti-silver inanciers
that all the labor expended in silver min
ing, while adding many millions annually
to the stock of silver, does not at all en-
rich the world; that a smaller amount of
metal would perform all the offices that
the larger amount does; and that, there
fore, silver mining, 30 far as the world is
concerned, after sufficient silver to meet
the uses of the arts is produced, is wasted
effort. So far as this argument has any
point or force it may be equally urged
with respect to the great bulk of gold
which is produced at a vast expense of
labor. 1t would be equally applicable to
to a vast range of human productions,
which will suggest tothe minds
of every person who gives thought to
economical subjects. 1t is ITO
plan. What are the advantages
sought by the opponents of silver2 Are
they public and patriotic or restricted
and selfsh7 These are the tests to be
applied to the single standard movement.
First, it is certain the reduction of the
medium of paying debts would enhance
the value of the debts. The advantages,
therefore, from this cause would insure
all to the creditor class and against the
debtors. This no candid and logical rea-
soner will deny at all. Those who desire
the characterization of silver on this
ground act from narrow and selfish mo-
tives. This would increase the public
obligations and burdens of the many for
the benefit of the rich and the few.
There is no avoiding this conclusion. The
characterization Of silver would speedily
United States and destroy an industry
which nowproduces $40, DOC, 600 annually.
Would not this be an important
and serious matter, especially to the
states and territories of the Rocky noun
tainsl Would our abroad be
in any way compensated by the adoption
of the single gold Standard There has
not been one reason offered to show that
it would. Except only two or three
countries those with whom the United
States have commerce have silver as the
chief medium of exchange. Besides, the
actual handling of money metals cuts no
figure in the worlds exchanges, except
as any other commodity is handled. We
pay our balances in foreign countries
with grain, cotton, meats and other prod
ucts, mainly agricultural. If these bal
ances should at any time, have to be paid
with gold and silver they would go by
weight as other commodities. There are no
difficulties in this subject only such as
selfish c~avilers and interested creditors
thrust into it. The moral features of the
argument against silver are not worth q
moments consideration. The silver dol
lar and its equivalent, as now constituted,
is the only metal dollar the people ever
knew anything about; the only one they
ever promised to pay, and is the basis Of
the financial system of the government
The accidents of time and discovery have
made it as respects gold somewhat less
valuable than it was ten years since. i
such accidents had made it relatively
more valuable not one word would have
been said by any debtor about a change
of the contract. Nor is it true that with
respect to the whole range of the objects
desired, the silver dollar has less pur-
chasing power than when the bulk the o.
public and private debts of the
country was created. Any authentic
record Of prices shows this fac
conclusively. The talk about an eighty
fve-cent dollar in 1883 which will pur
chase more than any dollar would hav'
purchased twenty or twenty-five year
ago, more than the promised dollar woule
have purchased when the present ~nationa
debt was created, Ia q presumption O
Ignorance on the part Of those who mad
the promise and have to redeem it. Iii
to the credit of the good sense of the PEG
, pie that the clamor against silver takes II
hold on the public mind and does nc
even get a hearing among their represer
t~atives. The facts and the argument, tn
justice and the considerations of goo
policy are so overwhelming against tn
monometalists as to make their efforts,
not disguised and surreptitious, who'll
fruitiess.