The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-07-03
SILVER DEBATE

GauQua assent bly, yesterday the lead
ing event of interest was the silver
debate between ez-GOv- Anthony
and Senator PETER, Gov. Anthony
spoke first In taking up the silver
question he said that his desire was to
treat the subject fundamentally as
business proposition The question
was; shall we adopt free, unlimited
coinage of silver-S1 equal 70 81 grains
OF silver to be open to the whole world
without cost?" He thought not He
asked: What makes value? How are
we TO determine value2 1t depends
upon cost measured by the labor TO ere
ate it. There can be no rule set up by
the government In favor of any com
modify against another. If we raise
more wheat than we can use, we are
entitled TO all we can get for it It is
the same with silver mine owners"
Here the speaker took occasion to
say to the audience that ne owned go
acres of wheat, the best in the state.
He asked what right of law had the
government to force him to accept sill
yer in payment for it when its value
had been dcpreciated. He admitted
that congress had the right to regulate
the amount of the circulating medium
according to law, but it did not have
the right and could not have it to regu-
late the prices of comm Odities because
of their liability to fluctuations.
The speaker said that the democrats
were sending around Senator Stewards
circular advocating the free and IN
limited coinage of silver but it must be
remem bered that Stewart was the same
man who substituted for the recent sill
yer bill a measure favOring the free
coinage OF gold. Then John Sherman
arose and said that he could not vote
for the bill because he was oP-
posed to any bill which favored
m ,rTf 80
another. II silver had ever become
demonetized it was in 1854. It's pur-
chasing power became greater. Gold
decreased as silver advanced and vice
versa The cost of producing silver
was IS. , in Oregon; in Colorado, 81 per
ounce; in Montana, 81 4. According to
other statistics the cost IN Arizona was
s3-7; California, 81; Colorado, co.,;
Montana, 43.3; Utah, SD Yet a GER
tain element had the audacity to ask
that the nation have free, unlimited
coinage Of silver and that the govern
mcnt allow the producer 129 cents,
which was only meant to enrich the
silver producer and not the labOrer or
farmer. In Mexico an ounce of silver
costs A SIS; in South America, a 5-s;
in Germany. %; in Australia but 10.
Yet certain citizens asked that this gov
J ernmeat institute a system of free and
unlimited coinage, which would result
in enriching the silver king instead of
the farmer.
Senator PETER said: 81 am not here
in the interest of the silver monopoly,
but for the people If we insist upon
using silver as one of the metals for the
circulating medium we have the right
to do so. The constitution provides
this The constitution did not authorize
US to regulate the value of any commod-
itY but to coin money and regulate its
]
law regulating the value and kind of
metal which is to be used. We are now
proposing to change the law. We want
more money and we have a right to have
1t. 1t makes no difference to us
whether the cost of production of silver
is - cents on the dollar or what it is
The masses lose nothing by it. The
point is that it is desired TO increase
our circulating medium, regardless of
what the metal costs. II a citizen
should go to a merchant to purchase
any given article, it would concern him
little what the medium of exchange
had cost to produce it. But his priuci-
pal concern would be how far it would
go toward purchasing necessaries and
how difficult IL would be to earn a like
amount It would make no difference
to him what kind of money it was
whether paper, silver, gold or what IL
was, so that it was accepted in ex-
change for family necessaries."
The senator here produced q paper
dollar, an article not worth a quarter Of
a cent and asked, the audience what
they would give for It He then pro-
duced a SO bill-On1y a piece Of paper
OF the same size-and asked what IL
was worth The echo came, $40.
Yet the real value of the bills, the
speaker said, was nothing, and it there
fore was made evident that the real
value of money was faith in the ability
OF the government to meet its Obliga-
tiOns- The people accepted money be
cause they had faith in it. because OF
the governments credit which issued it
He went into the treasury at Washing
ton and saw them making money. It
was paper money and came ont in
sheets- One side was worthless be-
cause II was not stamped. So silver
was valuable because it had on its face
the goHsEnmant atamn HI. rrun-.-.s