The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-06-21
A SILVER ADDRESS
Causes Of the Present StagnatiOn
in Business.
CREDIT ON THE GOLD STANDARD.
Inc ohio Republican Conventions Attitude
Regretted-The People viii Not Be
Destroyed for Want of Money.

! NEW YORK, June 20.-The national ex-
ecutve silver committee was in session
again today. Senators Jones and Stew
art of Nevada, were at the hotel ard gave
the committee the benefit of their advice
AS result Oh their deliberations the com.
niItee gave out an address this
evening to the public, in which
tney call the attention TO the OBJ
lect lesson which is being exhibited in
the desperate struggle of great financial
institutions on both sides of the Atlantic
10 lncaease their gold reserves 10 avoid
bankruptcy and ruin, and that any increase
oy one necessarily diminishes the re-
serve OF the other. Why should such
condition OF things exist in time Of pro-
found peace and abundant harvisrs. Why
should all the great banking institutions
attribute the stagnation and hard times to
scarcity Oh money, the scarcity adhering
10 the gold standard, when they admit
there Is not enough gold TO maintain the
business and credit of the commercial
woridf For eighteen years the basis of
credit on the gold standard has been ex
tended and the production OF gold has fall
len of, while the structure of credit has
been growing proportionateIy larger and
more insecure until the relation of credit
10 actual money, as disclosed in Baring's
failure on the gold standard of England.
has alarmed the world and started a new
scramble for gold that threatens all bust
ness undertakings and stalks as a menace
to every legitimate enterprise.
The address further saws: ssWe have
DepQ doing NuSinaGS n
trloutlug our annual products by a money
standard that has been growing oearer and
dearer until 1t has become so per cent.
larger than eighteen years ago when
silver was clandestinely demonetized.
Inc people are determined this in
the restoration of bi-metallism. Were
1t not for the increased coinage of
silver under the act of July, 1890, we could
not have stood the drain of gold that re-
Gently has been going on without the pre-
clpitatlon OF panic and the p-ostration of
business Gold and silver without limit
are money by the constitution, and this
money must be restored 10 the people.
Thls Is the paramount issue in the country
and should De made such in the elections
this year."
The address regrets that the Republican
state convention of OHIO practically de-
clarod against the free use of silver "a
gress which treaties silver as a commodity.
The demand for the free coinage of
silver is a demand that silver shall be
coined for use as money, not bought
as commodity 1t is demand that
silver itself, shall be money and
be coined in the same manner for use as it
was for thousands of years before Sher-
man omitted from the mint bill in 1873 the
silver dollars. If the silver of the world
cannot be restored to it's place as money to
supplant gold, bankruptcy and ruin are
inevitable unless some other kind of
money can be devised to take the
place of both. Let the Ohio
take warning that if silver
cannot be remonetized, gold will be de-
nonetized and paper substituted for both
gold and silver. The people will not
pc destroyed for want of money
The gold trust by rejecting one
II the precious metals has taught how both
nay be rejected. The radicalism of the
he Ohio Republicans for concentration Is
n danger of being met by radicalism for
ntiation. Platforms intended TO deceive
Toters are insulting to the intelligence Of
americans