The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1890-04-12
THE SILVER QUESTION.
JudRe Wells Letter TO Representative
Hartine.


Under date of Belmont, March 2lst,
Judge Wells writes Congressman Bar
tine on the silver question. Omitting
the preliminary personal and political
compliments paid by the Judge to our
Representative, we drop down to the
main feature of The Judges letter,
which is sound and irrefutable on the
subject of which it treats. But since
tie letter was written Mr.. Bartine has
voted in committee to favorably re.
port the Window bill TO the House,
which measure Is condemned by al
most the entire press of the West, and
Is like wet blanket thrown over a
shiveriDg man IN comparison to the
following etfacacious remedy set forth
In the Judges letter:
or course, you understand that the
central figure of anxiety with the
people of the silver producing States
and Territories is free and unlim-
tied coinage of the white precious
metal, with its pristine dignity and
legal tender money fully restored"
There is one argument In favor of this
which seems 10 me To be irrefntable,
TO wit: To carry on The public and
private business Of the country,
much larger volume, a greater
per capita, Of sound circulating me-
dunn is Indispensable. Look for illus
tration ut the unprecedented prosper
ity in the last few years OF France.
And, why? because she has a per
capita of about S55 with which to
carry on public and private business,
while we with all our boosted re-
sources and our immense product of
the precious metals have not to
exceed s25. Hers is a mixed cur
rency-gold and silver coin and paper
amply secured. She produces none,
or nearly so, OF the "white metal"
while we produce about 40 per cent.
OF the worlds output. She has
statesmen who seize upon the benefit
to be derived from the use of silver
In securing an abundant circulating
medium, even though she purchases
It, while we, who produce fifty or
sixty million dollars of it annually
suffer paucity of circulation by de-
grading our own production. We
need an augmentation Of circulation
OF at least $50 per capita in order TO
place US upon the same enviable plane
of individual and national prosperity
enjoyed by France; we need that
much IN PRESENT., and will very soon
need much more. We MUST nave 1t,
or commercial enterprise will suffer
decadenee and financial panic ensue
under the inevitable effects of which
property falls i'll the hands of the
rich few, driving the suffering many
the poor, into the ranks of the An
archists. How shall We expand our
circulation in Il safe way, so as To meet
The memorable demands OF trade and
commerce.? The answer is. in one of
two ways, namely: Add to our al
ready Too large and unnecessary vol
uine OF rag money, or, coin our own
silver, use IL az money--money good
as gold; AMI cease To degrade and
Danish 1t, selling 1t in foreign mar
kets, not for what We ask, but what
England says We may have; thus rob-
blng our miners greatly, and sadly
demoralizing our agriculture.
Were Congress to Immediately pro-
vide for full, free and legal tender
coinage OF silver, coin all we produce
and put 1t upon duty rs money, how
long would 1t take to fill the gap be-
tween our per capita and that OF Eu-
ropes proud La BELIEF Let us see.
Placing our present population at sixty
millions, in order TO increase our per
capita to S55, 1t would require, if
done with silver, tho coinage of 81
800, 900, 000i So that if We produced
and coined 1000, 900 annually, it
would take thirty years to supply the
increased demand which should be
met Immediately. Now, If we fail To
supply the needed increase In that
way, and still refuse to coin silver,
we must supply IL with paper money.
But paper money is always issued
upon the supposition that 1t will see
"the day of redemption" sometime.
With silver still demoneiized, and
paper issued because Of an Insult
cheney OF gold to give us ample cir
onlating medium, with what would
we redeem such paper? II il plainly
seen that it could not be redeemed.
unless the world output of gold should
be augmented beyond the powcr of
coception. The argument to me seems
unanswerable.