Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-05-06

but is . deprecated and fraudulent
currency paImed off BY the govern
ment of the United States upon the
people.
Whittier does the assertion that the
silver dollar and its paper representa-
tives are only venty-cent dollars
load? More than one half, - before
stated, of the money in actual circu.
lation in the United States il of this
character, and under the act Of 1890
100000. 900 more of the same kind Of
money is annually added to the circu
lation OF tho country. What 10 to be
done with il? Shall it be repudiated
and retired. and the actual circulation
be contracted one half, OF shall it be
made good by appropriate legislation?
The United States cannot afford
further to depreoiate and degrade sil-
ver and deny to it its money function.
The legislation has gone too far. Sill
yer bullion must be maintained at q
parity with gold bullion At the ratio
esta blished by law. Free coinage
will do this, aud nothing short Of free
coinage will accomplish tho purpose;
for whenever the Government At the
mint discriminases against either OF
the metals, the people will do the
same. II silver is not to be restored
to the place it occupied previous TO
1873, why did tbs Democratic party.
while it was out OF power, declare
that silver was honest money equally
with gold? Why did the Republican
party, when it sought to regain power.
declare that it was in favor of the use
Of both gold and silver rs money, and
why did it condemn tho admins
tration Of President Cleveland for its
efforts in demonetizing silver?
The value Of al articles desired by
man, when the quantity 10 limited, 10
determined by the law of supply and
demand. Until the unfortunate
legislation of 1873 there was an un
limited demand st the mint for gold
and silver at the ratio established by
law. That unlimited demand, 80 fa'
as gold is concerned, still remains, but
the demand for silver for coinage has
been destroyed by law. The marke,
value of both gold and silver always
has been and always will be the mint
price, because no man would sci
either gold or silver for a less price
than he can obtain at the mint. Free
coinage maintained the parity of the
; two metals from the foundation of tn.
government until the right Of coinage
) was denied to silver. Who can SAY
that free coinage would not now hav'
like effect in restoring and main
tanning such parity? Free coinag'
! would make tho demand for silve
equal to the demand ofgold, and tn
, mint price would determine the marke
price as it did from the foundation o
the Government until the CONSPIRACY
was formed to reject silver.
What must be the inevitable result
| upon the civilized world of the sinel
gold standard? Eighteen years az
there were about $7,50O,000,O00 O
gold aud silver coin in the world
which, in the language Of the Roys
Commission OF England, was on
money. To-day all the gold coin Il
the world does not exceed $4,000
100000. If the basis of circulatio
and credit IS confined to gold alone
the danger line is already passet
Never in the history of the world di
, there exist as large volume Of cred
as we now have, resting upon 9
narrow q basis.
Since silver was demonetized thel
have been purchased, and are no
held as government and bank reserve
not less than thousand millions
gold coins, besides many thousands
millions that have been daily pu
chased to liquidate obligations 90
tracted to be paid in silver or pape
The United States has purchas,
several thousand millions to pay int
, est and maturing obligations, and no
- holds for reserves (for little or mol
~ Of IL in in oircnlntion\ nearlv AG0(