Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-06-26
.EVADING THE QUESTION
Senator William M. Stewart of
Nevada, Replies to Ex-
Controller Knox
The Monometalists Fail to
Allude to the Point at
Issue
The Government Is Not Asked
to Buy the White
Metal

NEW York, June Ex-senator william
NJ. Stewart has replied to ex-COntroilcr
Knox's article on the silver question. In
part the senator says:
"You gold monometalists avoid the
issue. ] invited him TO prove that there
Is gold enough lie does not allude to
that question. AT the time silver was
demonetizcd there was not too much gold
and silver coin TO sustain the business
and credit Of the commercial world.
During the last Is years credit and busi-
ness have extended out Of all proportion
to the supply Of gold coin. The most in
dustrious and intelligent statisticians
maintain there has been no Increase Of
gold coin In the commercial world In the
last IS years. The events Of the last
twelve months have revealed the fact
that the supply Of gold coin is altogether
inadequate.
Before the failure Of the Barlngs the
commercial world was ignorant OF the
meagre supply Of gold. Confidence sup
plled the place Of gold. Credit aud busl-
ness expanded. knowledge Of the want
of coin has destroyed confidence. Coin OF
ultimate redemption must be Increased
or confidence cannot be restored. No
more gold can be obtained. The supply
| from mines must continue 10 decline.
! The great gold fields Of California ana
| Australia are exhausted. II silver Is re-
! iected and silver mining stopped more
] than one half Of the supply OF gold VIII
be- cut of. A gold standard means IN
eyitable and continued contraction.
The world must have more money Oh
] t.pkruptgy fall Ina uFigp1 hard Times and
poverty are inevitable. IL Is idle for the
| advocate Of the gold standard to discuss
! the money question unless he can SHOW
! that there is sufficient gold to supply the
| legitimate demands for money. silver
] miners will be satisfied with Tree coinage.
! They do not ask the government 70 buy
| their silver. They have no more right tu
do so than the farmer or MANUFACTURER to
demand that the government shall buy
! tie commodity that he produces. Inc
! gold advocate does not trouble himself
about the goose that lays the golden egg
! for silver miners.
! This discussion Is idle unless the advO-
cate of gold will attempt TO show that
there Is gold enough for use as money, II
he can establish that fact the discussion
| ends If he cannot prove thal
there Is gold enough ! Will then
discuss with him how 10 supply The de'
fciency. If the god advocate who an
/ swercd my last communication Is unable
or unwilling 10 discuss the question
whether or not there is gold enough for
money Of ultimate redemption, ] desire
some other adversary who is both able
and willing 10 meet the issue. desire In
formation and am open to conviction.
A large dealer In silver Is quoted a.
saving that silver Is going up, but the
rise In the past few days has been too
rapid and cannot hold. People who
bought so much silver around ~ have
been peddling II out. They sold consider
able above lO2. Silver ought TO sell bach
below par, and perhaps hang around tina
price until along ln October, when lO0l
Tor a rise Of considerable importance IL
anticipation Of the talk which will b'
heard tu congress-