The Dispatch. [volume] (Provo City, Utah) 1891-1895, 1891-07-04
FREE COINAGE.
Edward Holden Fires Into the
Camps of the Gold Bugs.
silver, Furnishing the Means
of Her own Destruction.

New YORK, July Edward Hol-
den, of Colorado, has published a pow
erful report against the theories of the
gold bugs and in favor of the free coin
age of silver. Here are some extracts ::
There are only two things the law
of any nation can establish ratio be-
tween, and they are gold and silver,
and for the reason that nature has so
arranged their production as to enable
mankind to take advantage of these
metals for the functions of money. Ma
ture will not produce to any extent
any more gold or silver no matter what
law any nation may enact, but nature
will produce a deluge of tobacco or
wheat or cotton if market can be
found for those products at fixed
price. The gold advocate loses sight
of the fact that commerce and pep
ulation throughout the world are
increasing at a greater rate than
the production of gold and silver COM
bined, and consequently the purchasing
power of the gold, if it alone is the
standard, would be greater each year.
The monOmetaIistS will not deny that
by this means a smaller amount of gold
money will buy larger amount of
labor and the product of labor,
and consequently the labor producing
classes will suffer, while the owner of
gold will become richer and richer,
and then will follow a general stagna-
ton in all commercial enterprises. 1t
is an undoubted fact, and is quite APP
parent, that there is not enough gold.
Then on what theory does the
monopoIist argue there would be
too much if both metals were
used2 Let me call his attention to
the further fact that all the gold and
silver in the world is actually in use
performing the functions of money in
the respective countries holding the
same, excepting a few million ounces,
IN the form of bullion. And further, if
the volume of gold that is passing
away from us at the present to foreign
shares can pass away without our be-
ing able to hold it, it is an evidence
and proof that our country is not as
rich as the volume of money circulat-
ing here represents us to be.
The statement as made by
the gold advocates that this
country needs the cooperation of for
eign countries to maintain the purity
of silver and gold is without trace of
reason. Have any of the persons who
made the assertion found the stand
ard silver dollar or the certificate
selling at discount? And does
not this government to-day
coin or Issue certificates for an
amount of silver equal to our entire
product Does this government receive
any aid from foreign ores for this trans
action? Is ignorance of these facts in
territorial or is it pure and simple?
England, while pretending to be gold
country, is virtually a silver one,
as two thirds of her entire people are
using silver as money for carrying on
their foreign and domestic commerce.
The government of England simply
acts as pawnbroker to her people by
buying seventy-fve cents worth OF
silver and issuing it to them with her
stamp upon it as dollar, and
We, as producers of silver, are
furnishing her and all other
gold countries the means to make
millions out of her subjects. | trust
the statements of these facts will
awaken the minds of thinking people
of this country and put an end to our
being the means for our own destruc-
ton.
THE procession on the Fourth will
not go down street as of yore. Cause:
TOO many boulders.