The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-09-26
THE SILVER BATTLE.

In his speech last week at Mansfield, O.,
Mr.. MILLS showed that the worlds annual
coinage Of silver is s126. 0OO, 900, estimating
the amount Of bullion used in the manu-
features at 81, zoo, 900. Every country in
the world, except Japan and Mexico, coins
silver at higher value than we do. If our
mints were opened, says Mr.. NJ, we should
get very little more silver from Mexico
and none from Japan, which together have
about $50, 000, 900. That leaves US s5s,
600, ''sbout the same amount we are get
ting under the act of July IA, 1890, in treas
ury notes.
This shows the failacy of Senator SHER-
MANS allegation that free silver coinage is
revolutionary and dangerous" The Ohio
Senator always pretends to perceive
danger and revolution in measures to
adjust the money of the country to
the wants Of the people, and to
see that the only safety is in ad-
herring as closely as possible to the theories
of the money dealers. But his predictions
have been so often fslsifed, and his views
so often and so signally refuted by the
logic Of events, that the people have
earned to attach little Importance to what
he says on the subject. Indeed it would
not be far out of the way to say that there
is DO public man in the country whose opin-
ions on the question Of money are less re-
liable than Senator SHERMAN's. When the
BLAND silver law of 1878, directing the
coinage of two to four millions in silver
every month, was passed over Mr.. HAYES
veto, MIR. SHERMAN, who was then secre-
tsry OF the treasury, did not hesitate to
predict IL would expel all the
gold from this country and
leave US with only debased
metal for our hard-money medium. Yet
the real operation of the act was not only
to give large stock of good silver dollars,
but to treble the stock of gold also-show-
Ing that Secretary SHERMAN did not know
what he had been talking about. And, as
he has learned nothing since, his predic-
tions are worthy of no more confidence.
It is q favorite argument with the
monometalists that the free coinage move
ment comes from small faction of the
representatives of the silver mines from
what are called the ''remote" states, rather
than from the people, whose purpose is to
force into circulation dollar made of sill
yer at more than its real value. II
this were true, the silver cause
would not live day. It Is the cause
of the people of the United States,
and that is the secret of its great
and invincible strength. A single metal
is not capable of meeting the wants of the
country, and besides our gold product is
gradually growing smaller. In 1853 it was
s65, 000, 900, and now 1t Is scarcely half tina,
much. The mines of California once
yielded gold exclusively, but the Cali
fornis mines are two-thirds exhausted, and
the mines Of the mountain states yield lit
tie else than silver-the very metal the
east forbids to the people, except in limited
quantities.
The demand of the west for free silver
coinage is not q wild voice for cheau
money. 1t is supported by principles OF
public policy. 1t reveals the true theory,
value and objects OF money. An abundan,
supply of good money brings activity, en-
terprise and cheerful movement, willis,
scarcity is attended by stagnation, dis
couragement end distress.
Free silver coinage will surely come.
sooner or later. The battle for it has been
fought and nearly won. Ana the fighters
and winners have been the Democratic
party,