The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-04-27
For Free Coinage,

| Senator Stewart, with great scorn, in
opening, referring to the charge of dema-
goguery, said: 'iTonight | will speak
the truth. So much for demagoguery.
[Applause.l
| mo man can be civilized without de-
voting himself to some kind OF labor.
Language and money are purely artificial.
He must have what you produce and
| you must have what he produces In
order to do that, you must have
a medium of exchange. The more
civilized nations adopted the precious
metals Everything else became SO
plenty that it had little value You take
atmospheric air, has it any commercial
value? You pay nothing for drink of
water. So it is. Limitation of money
and desire to have it, make gold change its
value as much as twenty times in an hour
in it's market "
s'There is nothing in the quality of gold
to increase its value. How are changes
effected? The value Of money is deter
mined by the supply and demand. II
eggs are scarce, they will be dear. If
they are plenty, they are cheap. The de-
mand for money is always at the maxi
mum; the demand for money is perma-
nent. II you should double the money
of the world, the price of articles would
double. We want such a volume OF
money as will keep the general range of
prices level. When the quantity of gold
goes down, the price Of gold goes up"
REGULATED BY GOLD AND SILVER.
s'It was agreed at a very early period that
the price of money should be regulated by
the quantity of gold and silver. We see
Greece IN her glory, we see Athens, and
the universities of the world. We find
that the mountains have been upturned
and they cot their silver and gold. For
nearly 1000 years they manufactured
money out of iron, but they regulated the
amount by law. Every modern effort to
limit it by law has been failure. Rome,
by enslaving the people and
upturning the mountains, accumu-
lated $1.8O0O00,O00, and she extended
her empire. But the mines gave
out and the Romans became slaves
she was unable to maintain her armies.
The barbarians from the north made raids
on the empire and captured even Rome
itself. That magnificent supply OF eigh-
teen hundred millions dwindled away,
till they had but two hundred millions,
that was the result of a failure of the pre-
cious metals.
s'When Spain got money she conquered
the Netherlands and Inundated France.
That is the power of money. AT the time
of the discovery of gold in Mexico and
South America there were 80, 900 land
holders in Great Britain. They were in
creased to 100, 900 by the discovery.
Great Britain adopted the gold stand
ard in 1915. They reduced the land own
ers back to 10000. The people became
desperate al the loss of their fortunes and
the army was called out. But they started
banded.
Metallic money can only be made out OF
the precious metals. Ninety-five per
cent. is made of paper, but they are only
promises to pay.
WAGES AND PROPERTY Go DOWN.
There was less gold and silver in 1850
than in 1900, and prices fell 30 per cent.
From 1910 TO 1850 wages fell. Wages
must go down with property. The reg
ular farm wages were s. per month! that
is what got.
Then came the grand discovery of gold
in California and Australia. A remark
able discoyery-the world is explored and
there can never be another. But that
have? The production from 1910 to 1910
was $4,000, 600. The yield after the dis
covery in California WAS 5000, 900 900. The
world advanced moro in that time than
in any century that preceded. Why
nearly all your agricultural implements
were invented during that time There
was wonderful awakening i'll the ener-
gies. After twenty three years of I'M
paralleled prosperity, wages rose, more
than doubled, quadrupled; property
rose.
The conditions have been reversed, not
by the failure of the mines. The miners
have discovered mines from Alaska to
Patagonia. That insured a continued
prosperity. The Comstock was discoY-
cred.
ALARMED BY THE GOLD FIELD.
An effort was made by the aristocraoy
of Europe to increase the purchasing
power of money and they attempted to
demouetize gold. De Quincy took an
overdose Of opium and he wrote an ar
ticle that created universal alarm. Hol-
land and other countries demonetjzed