The state herald., 1892-04-15

rectiy MIR, Atkinson went ,p England and France as
Americas representative to the bi-metac conference
OF mohetmy commission, and am told that he nm.
his associates ut Paris that the Bland act
would be repealed. That is the kind Of bi.metalc
| representative he was,
The entire silver product of the world Is not more
than $4,000 ,and Of this amount probably Sso,
900 consumed in the arts. II silver were 10 be
restored TO Its birthrgh Ii would mark mn epoch In the
history Of this country il would place in eireuis,cr an
amount oi money commensurate with the needs OF our
increasing population. II would give assurances our
langwshhg industries that the volume Of circulate
Ing medium is not to continue shrinking and that the
tendency OF prices should 20 longe. pc downward;
will increase the wages Of labor and the prices Of the
product. Of labor ii will reduce the price Of bonds
and other forms Of money futures: It will lighten
though not nequitably. the burden Of mortgages /,
will increase largely though unjus,ly, the debt,
| paying and taxpayng power of the people; Il will
loosen the grasp Of the creditor from the throat Of the
debtor, Nearly all the champions Of the gold Standard
eonaus an ,Iey s,s Saa "n,S % the
eesson even m-fs important than the that they
in thves Of free coinage when parity is reached. In
making Il. they confess themselves completely on, of
eoart. Il is an admission, in the first place that the
bmetaic theory is sound one for II unsound a con-
ven.ion o. nations can't make it sound II Il, reeog-
milton OF the fact that the relative value uf III.
two metals can be fixed br legslacAl fer ihA Joint
action Of seyrtp' S,ates Is lust as much lcpisa.
,ion - \ were confined to one. 1t Is
| qualified acknowledgment that the reservation Of
silver Is not dishonest attcmp, on our part Size
aioreed and fictitious value, fot Il shee anything
dishonest In the scheme can be made homes by in.
terna,ional Combinations But il goes even farther
,tah this When it is admitted that three four ma
tons can handle this problem, who is competent say
that two would faly Obviously It is only question
Of the number and resources Of the people engaged,
| in the movement and. IL SO, why may not one
nation do il alone France did It, and why should
not the United States with two and ahalf tines Nh,
population and ten times the resources o thai country
| prove equal TO the task
In the adjustment Of this question we believe that the
tor than France. England. and Germany eonbned
Those thyee ec.n,r.t contain an aggregate Of iss-
cNg.o ., people. The population is increasing
slowly the people are huddled together upon a lin.
lied territorial area much smaller per CAPITA ci
money would suffice for their wants, Thclf ,btai
reney amouns, IN youah rnmbeis, to s4ooo.ooo.ooo.
about s5s PEI Head. We could, therefore, take into
or' eefenoy about 81 900 900 and then start even
with sister republic the Atlantic This Is
$500 10000 in excess Of tn. entire amount Of silver
coined in Europe: could absorb and use very much
more in proportion than France, bsrarse o the differ
enee In existing tpnd,tichs. Ours is new country
equal 70 the Whsle OF Europe In extent have vast
a'eas q virgin soil awaiting the approach OF capital for
us reclamation Our mineral resources practically
without limit, and no country the globe .tesshts
such opportunities for The .praiiable investment
and use Of nency II is the existence Of these condi
ton; ms capacity Tor money absorption that makes
the United States so tremendous force in the settle
ment Of this great and financial problem For ourte.a
years we have had silver coinage Of nearly Si 900
year and yet the fears which havr been expressed
by the gold standard advocates have not been realed
no gold has been driven out Of the yourny. W, ird
that instead o driving Y GU J.. ronsEt la, resulted
rather 10 b,ieghg gol1 IN. oi whatever cause the
influx Q. gold may be ascTibed II is unqnestionable
tat gold has come, and ii has needed all the gold and
all the silver that have coined to maintain inter
national prices here. ], is admitted by all that gold
cannot so out except by reason Of rise in hl. conn
try Of the pTlee Of articles II inte'hahusai
merrc beyond the prices Of the same articles
prevailing abroad, Il having been demonstrated
that A large amount Of silver was insufficient,
iri- ihe price In this country induce gold To 20
abroad but that. the contrary, 1t resulted the IN
lux OF accumulation u large amount Of gold. We
may safely assume that no, only much Of the
of raatn a1l ~.
any influence IN raising prices in this country above in
ternaiional prices II ss.ooo,oo9 month were to he
eoined, this. then. would he the ai,oun, that Would
drive eold. o. CT .iVei would drive out no more
tha, 8 81 gold no than s., 500 900 could go ont
monthly. lha, would leave In e'repla,loa the saw-
amount Of money thnt y IA eiFrts.iyt now there
would sin be no pcrrass in the money volume h,
the cnnn''., add with no increase In the volume ot
honey, prices here would faise above international
Rs's sfs ten AZ yea .n' to l'id Sp, S a sss sSs a
s7q2.gopoea y -'l hoe IN this country liwould take
.N-' oget lhrn that because this 1000 900 driven
out would tend to raise international prices abroad
and so keep the outius oi gold from here lie same
apprehensions have been expressed for fourteen yeas
OF more and We have been assured by the abits 80.
called "inanelers' y TIA, TIE co,nlry vuu'd u n
nnde OF IL. gold the pJ7speet was Represented 10 be
sitahng, though DO not ftsollr5. that any state.
neni ha, betn made ,Esltly now thi country should
suffer u did '-z,e, rEgrdli a matter ofVery W..
tie Consequence whether gold goes not etrainy
" IN order to Ttiain SOLE we mus, sacrifice lsi'ss
then, say. lc gold 50. Is not ~ :" lei eonse,
l
mro''-'s that should preserve the equity Of
time contracts between the millions OF cur own raun.
ny who import no lrsign goods; Ii Is monsiruus to
think of violating all equities In time transactons and
nine out Of ten Of ouf domestic business Transactions
are of that Character.
iaIs1I England Va, on a sold standard, tn, same a,
Il Is day, yet pics ,5 per cent uwet than they
were thrn, and what Is the ftnsonf
1hsi, being no reason Why there shoud us any
chang. Ia The trend Of prices 80 long ss.S eaasi
for the possession qf gold shall Sc wuesa b,taeeu
1 INs'anl. tfaugeG lnr uifeIS
ius'ieel IN sssumng iha, ptopo8 tlonate detug
in prices will eoninue-ihai nieaS further decline o
20 to IS per cent In price, during the neat eighteen
yrarS Where Is this itndcney 10 s,opi And I'D dot,
not stop. how long will be before The Of the
people become the bond slaves q the eiedior! II is
an alarming iaet that iew money lenders and bond.
holdcfs silently and insiduusly wrcckng the hu,l.
ness Of every Country oi the World by constantly IN.
eiraslns The value Of the money Unit. The question Is
asked by the gold t,star advocates \ Tie silver pro.
ducefs ctpet 70 se Toreuis worth of silver for dollar
just though N. btun value had la,sysrt5
DO with the value oi dollar oyihat the ra,sal that
dollar Ind anything whatever do With Il. Suppose
the entire supply o. slysi of shc world were .G5o.
oco and the aN limited the coming TO .ss ooo,p1n and
ssr.y dollar coined was Ai par with roll sunpose
there Was demand ior hall million doars q silver
to be used in the arts. and ihs, the remainder soo.
oco Of uneoned slyri were larrd from the Imperial
money use. lhsi suppose a supply Of !lo9a.oso
pose only hall million dollars demanded of use
In al III. ars-and. In that osse. thsie would BE- two
millions supply bearing down half million dollars
| ht demand, o. proportion between ruppy and dr
| mand oi 10 :. Suppose, under these df5unsAnres
silver hulion went TO cents an ounce Could then BE-
sad that csus an the value Of sss oalo o.
and al The rest Of the coined silver II the Western
| NoHd, Shlr by coming anolher million and a half,
which would le nothing 10 country lkc this, all tho
| silver Nftild he at Iar v.th rold livery ounce II
silver coined In Europe and the Unsd States at psr
with gold, We not dealing ~h the price Of silver
buliion-,ha portion of silver that j. dspnVed Of 10,
| the commodity demand foT slYc' may make that
worth, such consideration has no bearing whatever
on the value Of money. One of ih, arguments Of the
advocates oi the single gold standard Is that II our
stock Of gold WIRE greatly reduced should b. unable
10 make payment 10 fufegn countries 10 ths bal.
anes Of tIuds tuned agains, Us. Il s only through
m rNecss of inPofts oVef exports that gold could
20 aud this country now ifuduees nearly AL oi
The aftcles that consumes. With the exception Of
arslnst us iof sixteen years running some ysan a,
| high A. fsoS.aeo 90 In our favor.
| Ihs United States Il not creditor natqn. Our
people % rot own thoufands oi millions of foftign
bonds which receive Interest In IL, eontianily h
pfstiniing money, which would have 10 ls paid IRON
The current canning, o. foreign labor, Instead. there
| tore, of our dgmsnsilyailon unjusty enHehlng cur
creditor classes al the cypen,s OF grcisns cnlllsi
| the ordllon at home hoe 10 dsspoil the dthior
among their uSn countymtn. In 20 Er as ouf debt
hsld abroad piuNided tPolaion ot ouf cutens by
foreign londhudef' nnd Hsafya u ouf pnhc dsbt was
| 20 held We had presented 10 us In thyl speciScie
81 Congress t'rcitd to enact laws for the wcafy and
| advancement Il our osn people, dsyutng ril hst
enefgits, whether of ~ net, 20 upbuldng oi
| The fortunes II the money urstocfaees Of other
enun,Iiss, At h, sspsnss Of the producers oi the
United siairt, A. this time cuufiiy recover.
Ing from an eshnusng vHf, with debt u si.e9aDoo
| GO, There were alio state. county. city and town
dslft, arffrfatlng many thousands oi mlluns, With
| railroad aud othtr corporate bonds nnd debts, and
private debts oi Infinite auouhis represented largely
BY morigaf" on real .siais. This ceustinisi an
aggregate whose Ofden might naturally he presumed
70 be sufcltni 10 taH al te ~ people
A. M. time silver Wa drmonstisi, and u might veil
have been supposed that sufficiently large unsansd
Increment had already igrn realized by the iJfsign
| domestic holder n the United States bonds. The
greater potion II the debt 81 the United States WIS.,
when Incurred. made payable simply In "lawhd
| launsy, the interest alone being payable IN tuln.
Vet, In ias3 s lonthuldrf sscfd ths passago u an
u equivalent not mstry The Interest, but the pnnr M
pi AL national obligations not specially provided for TO
/ be paid olhrfsts,
Arain. IN tsp. CDogfsss he creditor no, being salts
fs,l aail haylng got The l1nd II much briow Ia lace
yalna, and not satisfied With he pledge Ray In toln
psdas made luna hi,f DE oanIla NaA nlads and lho