The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-08-13

modities. while gold has increased IN value 80
per cent: and intelligent people understand
that the change has been in the gold and not in
the silver or its commodities The report of the
bureau OF statistics, Just out shows the leading
| staple commodities are lower now than any
time before in the century: lower even than in
the '40s before the gold discoveries OF California
| and Australia.
The production OF gold has declined from
$3.50 600 600 year 10 about sl00 oo00oo while its
use in the arts and dentistry has greatly in
creased-increased till there is little or no new
| gold for money. At the same time the gold
standard has been extended till mere than
10000 more people use gold now as the exclu-
sive money standard than in 1873 No other
reasons are needed to explain the past and
continued increase in the value of gold. In the
presence of facts so patent to talk about
''honest money as If gold only was honest
money, or as If the silver dollar. one OF the
oldest and best known of coins, was not an
honest dollar is simply ridiculous and marks
him who repeats it as q knave, or fool echoinS
the cry OF a knave.
The prototype OF our dollar the Spanish
milled dollar, has been for 40 years a standard
coin. 1t was tie money unit of the colonies,
and was made the standard coin by the Cont
mental congress. and was adopted as the dol
never been changed by q grain OF pure metal.
The Democratic platform demands the rein
statement OF the constitutional standard of
both gold and silver with the equal right OF
each TO free and unlimited coinage" Can any
Democrat object to this? To object TO Il ist
object TO one OF the cardinal doctrines OF the
founders CT the party. To kick against IL is TO
kick against the whole history OF the party On
this question. The standard OF both gold and
silver cannot be renstated in any other way
bat by the free and unlimited coinage of
both. Is il not rather reprOach 10 all parties
that for eighteen years one OF the most import
ant provisions of the constitution has been set
aside at the bidding OF a foreign credit holding
ciasss
One thing more remains TO DC noticed and that
is the imbecile cry that under free coinage the
miner will be permitted 10 take 80 cents worth
OF silver to the mint ana get dollar for it. The
absurdity of this proposition has been exposed
a thousand times. IN the first place. under free
coinage. the government does not buy silver al
all any more than il buys gold. II simply
stamps il for the holder and the price OF a bar
OF silver is the coins-the dollar pieces-that
can be minted from IL. There can be no differ
ence under free coinage between the value OF
silver in the form of bars and in the form OF
CONS. A given weight OF silver as. Tor instance
q bar weighing 3,1i21. grains will be worth ex-
acrly $40, because IL win coin into exactly $40
pieces ana there is NO profit about it TO any
one. Hence TO talk about profit 10 silver
miners is 10 try TO shift the question onto false
ground. Profit to anybody, either in the coin
age of gold or silver, is merely incidental to the
main question, which is one of money supply
proportionate 10 increase of population and
wealth. without which stability in the value of
money is impossible. and without which there
can be no stability of prices and 10 permanent
prosperity for the country or the world. There
is no danger Of any country having too much
gold and silver money Nor is there danger of
an oversupply OF silver. The next half century
will require more OF the precious metals for
money than the American continent has pro-
duced since its discovery by Columbus 400 years
ago. a. J. WARNER.