Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-01-09
Advocating 10 Make silver Coins Co'
equal with Gold for All Money
Uses.
THE ARGUMENTS OF BlMIrAL-
isTs.
Foreign silver "Does Not Alarm in'
telligrnt Mca."-Silvcr Qaes'
tion, q vital Issue.
by Telegram to the NHss
siLyEi, Ann gOLD.
An Address by the National Ixe'utis"
silver toiamttic-.

Issued mn addfos, ~ follows: "Conti's
ued experience demonstrates thnt there
can he no adequate tinsls0lution the
money question but by re-eudDwing
silver with the money functions, anu
making silver coins standard money,
co-euunl with gold for all money user.
/ The present policy OF making sutsi'
diary money OF silver TO he 10.
doomed In gold and Uf plling higher
/ the fabric OF credit aud credit money,
on n constantly diminishing basis OF
gold, il uuaound aud unsafe and must
end. rha enormous Increase in bank
credits and other forms Of credit cur.
rcncy Ia recent year,, relative ~ the
volume Of gold In which they are al.
timatcly redeemed, imperils financial
stability everywhere, and 1. n standing
meuace 10 Nil business enterprise; for
panlcs must occur most certainly and
frequently AMI be more disastrous.
What " wanted Ia more standard
money relatively 10 the credit and
credit currency, a broader basis OF
primary money, and not higher SUI
perstfucture or credit devices. This
eau he done by making silver and gold
co equal ~ money metals, with the
coinage Of bo,h on equal terms. The
act Of July lith, 1890, M interpreted by
the Treasury observation-disclosures which
1900, 900 ounce. for notes rcieemable
In gold, nuke. no addition 10 the stan.
dhrd money, while II raises higher the
fabric of credit on foundation grow
ing narrower. This addition TO the
currency volume
NIGHT As WELL BE or GRrEsnAcKs
~ In the form now given II. IL re.
qulres, therefore, no extraordinary
mi metal ncumo 10 ioresee that this
condition eau not long he maintained.
A plain solution of the difficulty 10 the
iull monetiEAtion OF the silver aocumu.
lated under the net, 20 thn end that
this and nil the silver that anybody
may choose 10 devote 10 monetary use
may 40 to swell the volume Of money
final redemption for all other terms Of
currency.
rne TACT upon which bimelallists
base thoir conclusions nfe iniisputable.
The arguments by which are eatnh-
liahcd the unanswernble fact. are that
the supply % gold " admittedly made
quatc 10 provide for the worlds needs
OF money; that many times more poo-
pie are made 10 use gold exclusively NJ
standard money than In 1873; that the
! VI kulA ~
while population, wealth, commerce
aud the consumption Of gold In tho
arts Ii rapidly increasing, the iucreaso
In the demand for the arts and den.
tlstry In the United States alone being
sufficient to absorb, according 10 the
director OF the mint, In ten years more
than the entire gold product OF this
country. That tho value OF gold
under these influences, IA largely in.
creased aud must continue 10 Increase,
and prices Ms certainly continue to fall /,
In manifest.
WHAT a FRAUDULENT PRErESsE,
In view OF these facts, to insist that gold
alone In q staple or honest money va
lue; In view OF glaring facts tho denial
Of n change 10 the money standard
through the increase In the value OF
gold as q necessary aud direct conse.
quence Of demonstrating silver and re.
stricting tho money function 10 gold
alone, what else than foolish homage
to knavory 10 tue babble about "honest
money" aud "short dollars" which
constitute 50 large part OF the stock
answers TO the demand for free bimet.
allie coinage. Nothing II more absurd
or ridiculous than 10 claim that a
shnpeless lumpof silver, to which mo-
notary use IN denied, measures the
value Of the silver coins which have a
monetary use, added TO whatever other
use silver may he applied. Gold treated
M silver has been, would act In the
same way.
II since 1873 both metals had been
accessible for money uses, rs for indeii-
mite ages before, the annual addition
to the metallic stock OF money for the
world w0ulu have been somewhat less
than from lSi9 to 1873, but probably
would have been sufficient 10 have
maintained reasonable stability IN
the value OF standard money. So now,
while IL In ceftain that gold Will con.
tlnue 30 increase In value, aud prices
measured by gold continue 10 fall, II I.
reasonably certain that the supply OF
both metals win be- sufficient TO main,
tain fairly stable relations between
money aud commodities, and thus 30
cure 10 the industrial world what 1t has
, soroly lacked since 1879.
; THE BuGABoo OF FOREIGN SILVER
coming here no longer alarms intelll
| gent mon. Under FREQ coinage silvel
would be 81 20 an ounce here: II " 81. q,
In India, aud, with open mints, Il
would be Sl.33 in the States al
, the Latin union, which Is the value
OF all the coined silver Of Europe. Tn,
/ requirements OF England and tho con
tinont for silver To pay their balance,
/, TO the Eas. would not be materially
changed whether the proht Of The
differences between % cents and sl,3,
! were made ON silver sent there or only
the difference between 81 20 ami 81 .Ss
/ India absorbed quite ~ much silver h
4 the years before the fall OF silver her,
as since then, and viii continue 10 ab
sorb both gold and silver But whether
our silver goes abroad AT 9j cents OF
Sl.2D n quite material to this country
/ not only from the direct loss on the OK
ported silver, but In the far CREATE
loss sustained on tho price OF wheat
cotton and other manufactured pro
ducts, which have and will follow
closely the rise aud fall OF silve
I bullion, for reasons ofton explained
, II wheat Ut the present time IN lesa In
huenced by the price " silver bullior
, than cotton, II 10 due directly to the
, FAILURE OF THE CROPS IN EUROPE
II the value Of silver here should fal