The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-12-09

from the secretary of treasury following
them!
Just now our own The exports of pre-
mines are yielding ncious metals by any
gold and silver just country TO pay for
about 100000 perlgoods makes it poor **<.
annum $%*. At present There has been no
the people are payinglgold exported except in
to foreign ships for pas payment of what our
sage money and ex- country pur ha es
pending in foreign coun abroad. $50 Silver for
tries more money hGnlthe past seventeen
all tie precious 0aetdllyears has been mer-
D1iJteSdre yietdiRg. Theylchandi Sc. = ri bURe,
have been doing this De-. =
for the paste Fifteen
years - Tribune NOC.l
The amount of gold and silver exported
this year, in excess of the amount i'm
ported was SIS, ,094. The amount Of
gold alone exported in excess of that I'M
ported was only 81, 253, 047, the remainder
of the excess in the export being silver
Report of Secretary OF Treasury.
The amount of goods imported this year
is given by the secretary as S145, l3l652, or
over one hundred and eighty times the
total amount of gold exported, yet the
solemn and immortal ass on the Tribune
pretends that we pay in gold for imported
goods.
The Tribune readers who believe in that
sheet, if there be any such, may believe the
organ lied either on November "a, or on
December Z, as they prefer On the first
date, it stated our export OF money to be
more than than $50, 000, 600; on the second
date, that gold alone is now money, and all
we export of it the secretary of the treas
rif-y-i inf 10 oh
AS a matter of fact, the sheet lies in both
cases, and it is curious to note that self
alleged authority on monetary subjects, is
able to make two contradictory statements
and both of them partially false.
The goods which ''our country purchased
abroad" the present year amounted to
s745, l3l ,652 in value, according to the secre-
tary of the treasury. The Tribune says we
paid for these goods in gold, the total
amount of gold we paid being only abou,
the one hundred and eighty-fifth part in
value Of the goods we received Yet this
is the writer that presumes to call other
people idiots
A man who is unaware that our export
of goods during this year was S742, 40l, 315
or within less than three millions of the
import, and pretends that imported good!
are paid for in gold, is very fair specimen
OF thick skulled stupidity.
To make the comparison little more com
plete, attention is invited to the followin,
parallel Fer months the whipped crea
ture has been seeking to get revenge TO
the drubbings we have given it on tn
tariff question, and recently called tn
editor of this paper "slave', "knave''
an ''idiot'', ''lunatic'', and other simila
names, because we refuted its statemen
that the money of this country was stead
lily contracting. We now furnish it wit
another occasion for name-calling:
When lin 1871 thel Money in circulation
government of h elm the United State
United States and thetOct. L, 1870, $40 BIZ, 0o(
chief nations OF Europe Circulation per capt.
demonetiZed silver. in 1870. Sl99
they in effect reduced Money in circulation
the money of the worldlin the United States i
by 30 per cent, whichll.S9, 81 ,022 OBS 6s5. Gin
could have no effect ex- culation per capita i
cept to reduce property 1880. $50
values in a SinilarI Total increase fror
ratio. It did not quite 1870 to 1880, s25l rs 8
reach 80 per cent. be- Increase per capita @
cause India and China money in circulation
still recognized silver from 1870 to 1889, 81
as money-1f16uue. Per capita increas
There was a contrac- during the last twent
ton. however, of the years. So. 9ol-ReDOyf o
money of this countrylHe SecretdTV or tn
between 1870 and 1890 Treasury.
of more than 80 per
cent.-IT6bUse
The reader may Judge for himself who i
the 'lunatie", the "Piute Indian, tn
amateur, etc, whether it is THE HERALD
which stated there has been no contraction
of the currency of this country, or tn
Tribune, which called us by those and othe
pleasant names for disputing it's assertion
that there had been contraction of iron
80 to 50 per cent.
We stated the other day that the owner
} of gold and silver are not such fools as t
send these metals over the sea If they ca,
sell them here for the same price. Thi
gold and silver exported is simply a sur
J plus not required in our coinage; and tn
price of these metals would fall unless tina
: surplus could be exported.
This country produces two-fifths of tn
gold and silver produced by the who'll
world each year, and has less than one
, twentieth of the people of the world. Iii
j not surprising, therefore, that we hav
some gold and silver to sell to other ms
, tions.
: The value of these metals depends o
, their use as money and such minor uses a
, jewelry, plate, etc. Whether countr
J uses gold, silver, or greenbacks, or all thre
combined, will have no effect on th
amount of money in circulation, as this
; fixed by the necessities of its trade.
The money circulating in this countr
, amounts to about one and half billions
dollars. A portion. of this is gold an
silver. 1t can be made all gold, all silver
or all ''greenbacks," if the government S
decides. In any case, however, after th
, mines have supplied the metal necessar
J for coinage into money, there is still COZ
l siderable amount of gold and silver lef
, Part of it may be sold to jewellers, all of
: if people are willing to purchase enoug
gold iewelry and silver plate to consume a
the gold and silver yielded by our mines.
> 1t happens, though, that the people
5 this country cannot buy all the gold an
: silver they would like in the way of gol
: watch cases and rings, so that part
this country's yield of gold and silver
e exported nearly every year.
4 1.-THE specie thus bought and sold, e,
4 ported and imported, is sold by weight lii
: flour or wool. 1t is not money, then, bl
e merchandise. Men speculate in it Just s
D they do in wheat or cotton. 1t is one {
, our products, of which we export the su
/ plus"