The Wadsworth dispatch. [volume] (Wadsworth, Nev.) 1892-1899, 1893-02-22
WEDNESDAY. FEBRUARY 81, 1898.
STEWART ON SILVER.
The Question in a Nutshell.
"UNITED STATES SENATE,
Washington, ID. G. Jan. 81 Is!

washington, ~. ". Jun. 81 1OOo
ITO the Editor of Once A Week:
"The revolution il the money of the
world inaugurated to satisfy the avarice
of the owners of money and bonds, is the
most disastrous calamity that has befal-
len the human race since the Dark Ages.
From time immemorial money hiss been
manufactured unfortunately from
gold or silver. 1t made no difference
which metal was deficient in produc-
ton, or which was abundant in produc-
ton, as long as either would answer
the same purpose and could be coined at
the mint into money. All that was re-
quired was a sufficient supply of the
two metals combined. Rome, at the
zenith of her glory, had a supply Of
about eighteen hundred millions OF gold
and silver coin. In fourteen hundred
years that supply had diminished in
the country that had formed the Roman
EN-. pire to less than on hundred and fifty
millions and during all that time, gloom
and despair followed the slow and grind
ing process OF contraction produced by
the wear and loss OF the magnificent
supply OF money which had existed at
the commencement OF the Christian era.
ain 1892 the new world was discovered,
and this was Immediately followed by q
fresh and continuous supply of gold and
o,l,,ar ,v,tho.,t differentiation frr 49, thraa
hundred years. A new civilization fol-
lowed the lifegiving streams of m
that flowed from the mines of Mexico
and South America. In 1920, Europe
and America were supplied with about
nineteen hundred millions OF gold and
silver coin. Then the supply of the
precious metals at the beginning Of the
eighteenth century was reduced more
than onc-half by the Spanish-American
wars. In thirty-eight years, from 1910
to 1848, the stock OF gold and silver coin
in Europe and America dwindled to
about fourteen hundred millions. The
thirty-eight years during which this re-
OutbiOl iOOk PldtC luIlilsliCu dOuliOdnb
evidence of the effect of a shrinking sup
ply OF the precious metals hard times,
falling prices and s%tagnation in business
were tile rule and o the exception. Ii
no relief had come, the same cause
which impoverished Rome and ~inaugur-
ated the feudal system would have produ-
oaJ ui ~ II - rnaultp IL, Ain ntusl.,UI ,,~,ll
From lS48 to 1875, when minis of tile
Unired States and Europe were closed
against silver, the supply oil the precious
metals was abundant. The progress oil
the civilized world in the accumulation
OF wealth, in the elevation OF the masses,
and in science, art and literature has no
parallel. 1t far exceeded the advance
ment OF any previous century.
sin 1873 The United States by law de-
MED to the owner of silver bullion the
right to have his bullion coined at the
mint-a right which had existed from
immemorial, and which was guaranteed
by the Constitution and laws OF the
United States. Germany. the Latin
Union, and other European nations fol-
lowed the bad example OF the United
States, ind by the end of 1875 the minis
OF the civilized world were closed to the
only money metal, silver, in universal
use among twelve thousand millions OF
people, and the right of coinage was
confined to gold alone, which never was
a circulating medium in actual use
among one hundred millions of people.
The great conservative metal, which was
used as money thousands of years before
gold was employed for that purpose-tbe
great conservative metal that was pre-
cured by the regular industry in uniform
quantities-was discarded and the
worlds money was confined to the cap
%riclous, accidental and irregular supply
OF gold. The credit and business oil the
world at the time of this unfortunate
legislation rested on seventy-ive hun
bred million of gold and silver coin,
which for all purposes OF business and
credit, was one money. When the own
err OF silver bullion was denied the right