The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-07-03
Combatted with Arguments from
Nature.
LAWS DO NOT AFFECT THESUPPLY
There is Not Enou gh Gold-England Specu
lates OFF Her Subjects-Free Coinage Of
American Silver Alone Asked.

Here are some extracts: There are only
two things the law CT any nation can estab-
lish a ratio between and they are gold and
silver, and for the reason that nature has
so arranged their production as TO enable
man kind to take advantage of those metals
for the functions of money. Nature will
not produce to any extent any more gold
or silver, no matter what law any nation
may enact, but nature will produce de-
huge of tobacco or wheat or cotton if mar
ket can be found for those products at a
fixed price. The gold advocate losses sight
of the fact that commerce and population
throughout the world are increasing AT
greater rate tnan the production OF gold
and silver combined, and consequently the
purchasing power OF the gold, If IL alone Is
the standard, would be greater each year.
The monoieualists will not deny that this
means that a smaller amount OF gold money
vii! buy a larger amount OF labor and the
products of labor, and consequently the la
boring and producing classes will suffer
while the owner OF gold will become richer
and richer, and then will follow general
stsguatio in ali commercial enterprises Ii
is an undOubted fact, and is quite apparent,
that there is not enough gold Then on
what theory does the monometalhst argue
there would be too much II both metals
were used. Let me call his attention TO
the further fact that all the gold and silver
in the world is actually in use performing
tue functions of money IN the respective
countries holding the same, excepting a few
million ounces in the form OF bullion. And
further, il the volume of gold that is pass
ing away from us at the present TO foreign
shores can pass away without our being
able to hold IL, il Is an evidence and proof
that our country is not as ricn as the
volume of money circulating here repre-
sents US to be. The statement as made oy
the gold advocates that this country needs
the cooperation of foreign countries 10
maintain the parity OF silver ana gold is
without trace OF reason. Have any OF
the persons who made the assertion found
the standard silver dollar or the certificate
selling at discount. And does not this
government to-day coin or issue certih-
Gates for an amount Of silver equal
to our entire product. Does this
government receive any aid from foreign
ones in this transaction. Is ignorance Of
these facts Intentional, or IS II pure and
simple4--
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 for
eign and domestic commerce. The gov
eminent of England simply acts as pawn
broker to her people oy buying 40 cents
worth or silver and issuing II TO them with
her stamp upon il as dollar; and we, as
producers OF silver, are furnishing her and
all other gold countries the means TO make
millions out of their subjects. / trust the
statements of these tacts will awaken the
minds OF thinking people OF this country
and put an end to our being the means for
our own destruction,
s.Senatoc Stewart has asked the gold ad-
vocates TO prove there is enough gold for
the use of the people and growing bust
ness. Now, let me add another question:
If the production of silver is stopped, will
it not curtail the production of gold in this
country, finally, one-halfi Where would
the prosperity Of the country be in few
years with a contracted gold and silver
currency. Does the gold advocate desire
TO prevent the production OF gold as we'll
as silver TO further enrich himself with the
gold he owns and bring about starvation
and misery to the masses. Is the Carnegie
principle of finance to be introduced TO add
to his millionsi Are the savings of wage
earners TO end. Are we to continue to al
low England to dictate the price of our farm
products 81 an enhancing value OF gold! IS
there anyone that can teach US bow TO avoid
disaster without the use OF silveri All the
gold advocates, with hardly an exception,
declare they are friendly to silver. Why
this declaration! Let me answer. Because
they know the total demonstration Of
silver would demonstrate the utter in
ability of gold to 40 the business of the
country and the people would at once dis
cover a solution Of this problem and adopt
the free coinage of silver as well as that of
gold, and thereby eqaalize the condition be-
tween creditor and debtor.
There is virtually free coinage OF sill
yer in the United States to-day as the gov
eminent is taking all the silver we produce
and coming it or using its authority TO issue
certificates at the rate OF 3711t
grains for each dollar. BY this
means the government is reaping
profit of % per cent on each dollar and is
performing the very act that you mono
metalists are crying about. What we de-
mand is q dollar for what they issue to you
for a dollar. WHAT right or justice is there
in the act of this government buying 31l1i
grains of fine silver for seventy-five cents
and discharging her obligations of dollar
with the same silver. What right has the
government to speculate, even though the
speculation is a profitable one, and thereby
discriminate against one class OF her peo-
| for the benefit of another. If the govern
ment is going TO use silver as morey. let
her pay for it as the money that IL will
| represent; let her sustain her own act, or
better still, let her give Us the right to
have it coined and bear the mark OF a dol
lar, and tile people and commerce will take
care of it's parity as they have done for
centuries and is being done to-day al over
the civilized world England demonetized
gold in India for her own selfish and dis
honest purpose. In the last fif-
teen years she has bought about
400. 900 ounces Of silver at about
ST. an ounce and stamped her coinage mark
upon II in her transactions with her
colonies at the rate of Sl.S2 per ounce Eng
lands ratio being 1912 of silver to / Of
gold as against our 10 of silver to / of gold
This proves that Mr. Carnegie's dear old
mother bird is at least per cont. more dis
honest in her transactions with her people
than we are, for which trust Mr. Carna-
gle will bow his head IN shame.
s.The profit that England is realizing on
| the decentralization of silver through her
colonial trade is sufficient reason for her TO
antagonize in every way the adoption Of
| free coinage in this country for the reason
| that the coinage of silver here would make
silver worth <l.29 an ounce, which she
would have to pay and thereby take away
| from her the profit between 81 and $l.29
and would cause her TO soon remonetize sill
yer as the only course left open for her.
1.-THE prosperity of this nation will be as
sured when we have accumulated gold and
silver enough to meet the requirements of
our commerce. We bi-metalists claim that
the free coinage question is principally an
internal one, and the solution 20 the prob
/ lem is most easily applied by removing the
| fear of the argument of the gold advocate
as to the dumping of foreign silver to take
| our gold by enacting law for the free
coinage of the American silver only, which
we are actually doing to-day. This will