The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1885-06-11
eoLDBve soHBTRY.
from the Chicago Inter ocean,

4 40 EW1s1y ABUACMs0 u 80 AVDCys
wunpA.
I from the Chicago Inter occanI
w. q. Sumner contributes to tho
juno North american kerietC IN ar-
tlcle which. in the mind Of any one who
knows anything about anything what
ever, will raise the question whether
he and Professor Sumner are alike in
this respect. We do not refer to the
supposed opinions which the writer
| may imagine he is expressing, but to
the marvellous pretenses which are put
forward . Il they stood for facts Of
some kind or in some sense. Take the
following:
No nation except the United States i wll-
| lnQ TO use silver.
| Neither the Unired States nor any other
1 country ever had concurrent circulation Of
| two metals.
The people or the nited statcs never have
used silver as circulating medium.
Silver Is not wan cd to-day as I circulating
medium by any civ ilzcL nat on.
/ Here we learn fD that the United
States is willing to use silver, but never
has used it; tlj that no nation (includ-
ing the United States, il willing to use
silver; t3) that tsince all nations have
at all times used more or less gold no
nation has ever in fact used silver; and
yet, although siiv. has never been In
use anywhere, another sentence informs
as that:
The movement Av ainst silver as q c;rculat-
Ing medium 10 one that cannot he reversed.
but must g0 On until il develops into q new
order Of things. In 1s7sl the United States
had no silver.
Here silver is . circulating medium
in possession of the fort, which must
be moved against and dislodged in or
der to bring about the new order Of
things" when silver viii not be the cir
culating medium. Ard yet at the time
this movement sets in there i no silver
Whatever on hand.
A revolution is pending to abolish
state of things which never existed.
The Director Of the Mint, il his re-
port Of December last, gives returns
from thirty-nine countries Of the world,
showing that they have an aggregate
volume of gold in circulation amount
ing to %, 293, ,8OS, 1886, and Of silver, 81
7l5. gil ,0eO.
In all these countries both silver and
gold, and in many Of them also paper,
copper, nickel, bronze, and brass are
circulating. The proportion in the
United States is less OF silver and more
of gold than that of most other nations,
being $56a, ,OOO, 900 Of gold to $264, ,OOO,-
600 of silver, rs per latest report Of Di-
rector Of the Mint. While Prof. Sum
ner asserts that the United States is the
only nation willing to use silver, il he
means the people, his statement lacks
every vestige Of sense or reason, be-
cause other nations average about ono
dollar Of silver to one Of gold, while the
United States averages S2.25 Of gold to
one Of silver. Prof. Sumner also says:
Il We use silver or paper wc must give up
gold.
Yet he holds that we decided to use
silver by the act Of 1878, providing for
the coinage Of $2,OOO,OO per month,
As that act has been in operation eight
years, there has been ample time to de-
termine whether our Dissemination TO
use silver would compel rs to give up
gold"
In e-s, when the silver coinage act
wa. sed, there was, eli told, in the
Tn states only $500, ,O0O. 90 Of gold.
Nov :. 1t quantity il more than doubled.
Sumner but repeats, eight years after
events have utterly refuted it, the false
prediction made by M. Cerunschi, who
came over here in 1877 to lobby against
the passage of the present silver-coin-
age act The question was put to him
(February. 1872 on his ssexaminatioa
before the United States Monetary
Commission:
Letting France and the Latin Union 70.
main as they arc now, and Germany and
England remain as they are now, whore
would the injury con Q to us as nation jf
we start here hi-nctaliSm and coin silver?
His answer was:
The injury would lie that at the FIRST mo.
ment your goid would ali disappear.
Dsregarding Cernnschi's advice the
United States has gone on and coined
silver (of which Sumner says we then
had none in the country until we now
have S.64 100000 silver, and lol for
every dollar Of silver coinedwe have
increased s1.5O our stock of gold.
Mr.. Sumner says: m. Cerunschi |
has certainly been fanatical enough or
this question Yet Sumner repeats,
eight years after it has been refuted by
events, the same bald and ridiculous
prophecy which Cerunschi only uttered |
when he had not the palpable refuta- |
tion OF its truth before him. il it il |
sufficiently fanaticals in Cerunscli to |
predict in 1878 that the silver-coina9e |
act would cause IN instant departure
of all our gold from America, what ad-
icctive is adequate to characterize the |
utterance Of the same prediction BY
Sumner at time when the coinage Of
$26l, ,OQN, Goa of silver has been attend |
ed by the rise Of our national stock OF |
gold from saoO,.QO. 900 to $563, ,0O0,.
door
Professor Summers superficial and