, 1889-12-05
SILVER AS KING.


vention at st. Louis are doing
timely work. The contest between
the creditor and debtor classes Is
becoming more sharply defined.
Much of the present indebtedness
was contracted years ago, when the
creditor received deprecated cur
rency. Under the redemption act
all money values were raised, and
payments were required to be made
In money representing standard
values. Millions of money was thus
made by the money kings. They
thoroughly appreciate the advan-
tage to be gained in keeping all
values up to gold basis. If silver
is coined on basis equal with gold
the general increase of circulating
medium would naturally make easy
times, The supply would lessen
the demand and consequently the
rates of interest would be lower.
This is what the millionaires are
fighting. They favor a gold mono
metallic standard. They would
raise values by destroying the legal
tender quality of silver and enlarg-
ing the purchasing power of gold.
BY destroying portion of the me-
dunn of exchange they seek to COM
pei the creditor to return his bor-
rowings in appreciated gold. Thus
millions are multiplied for the mill
ionaires.
It Is said that the West Is mort
gagged to the eXacting capitalists of
the East. This may be true in
some parts of the West, but fortu-
nately 1t is not true generally speak
ing. The energy and enterprise
displayed by the Western people in
developing the resources of the
West will soon release all obliga-
tions and develop a wealth which
the people of the East may be glad
to borrow.
The question of enlarging the cir
culating medium In proportion to
the demands of an increasing popu-
lation should not be governed by
the selfish and grasplng money
kings. The.gcneral welfare of those
who work and develop the resources
of the country is the interest para
mount W hich concerns the prosper
ity of nation. If the standard
of value is gold or silver, or both,
1t should he issued commensurate to
the necessities Of the people and
should be increased in proportion to
the demand, SO as to maintain a uni
form value.
The Pan-American congress will
soon take into consideration the plan
of issuing a common coin for all the
countries of the western hemisphere.
This was one of the objects of the
conference. IF this plan should be
found practical it would be a step at
least toward the adoption of an in
ternational standard of coin values.
This subject has been under consid-
Grafton by various nations for many
years, and will undoubtedly gain
prominence by the arguments which
will be brought forth by the men,
bers of this congress. fit is desir-
able that there should be an estab-
lished standard of coin values be-
tween states Of a nation, it would
seem equally advantageous that
there should be a uniform system
adopted by all nations. Convent
ence and extension of trade and
travel and adjustment of exchange
are some of the advantages to be
gained by the adoption of II common
monetary language. BY extending
n bimetallic coinage to all nations
the demand for silver and gold
would undoubtedly increase. This
would necessitate u greater coinage
to meet the requirements of trade.
AS silver has a more universal
usage than gold 1t Is safe to say that
1t will always be used as medium
of exchange in connection withgold,
its kingly companion. In many of
the countries of Europe and South
America its coinage is free. AS the
population of nations increases the
time will come when 1t will be king
of the money exchanges of the world.