The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-09-16

production.
At one time gold has been pro
du led largely in excess, and at an
other silver; bat it has been the un
varying history of these metals that
an excess of either has always been
corrected by a corresponding IN
crease in the production of the
other in its turn, and that the sup
ply of both has kept pace with the
growth of business and commerce
of the world. The food of gold
which was poured from the mines
of California, Australia and Russia
betwe cen 1880 and 1856, estimated
at 5000, 100000, which caused
acline of more than per cent IN
that metal and moved alarm sts to
aivocate its demonetiz 'tion, as they
do now of silver, as We all know,
has been corrected 10y the more re-
cent discoveries of silver; and go 1t
has been for sll TINA
A law of nature seems to havs
Joined these metals together and to
nave denied perfec, eff lacy to their
funtions as money except az Co
operative forces. Under the double
stand ard, they support each other.
If gold is scarce and high, silver
becomes more abundant; if silver
disappears, gold flows into its place.
The people who have both to rely
on can depend with absolute Ger
tainty on the presence at all times
of one of them-a corner on both
is impossible 1t is through this
co operative action of the two
metals under the double stand
that a sufficient circulation is assur-
ei for the demands of trade and
commerce, for living wages to Ia
Dor, for fair valuations in the trans
fers of property, and a safeguard is
furnished, az far as human wisdom
can devise one, against crises and
panics and the loss and ruin they
entail.
The Capitalization of capital In
the hands of few men is Impossible
with the double standard of gold
and silver, while with gold alone =
fe y bankers and capitalists become
the lords and masters of the people,
az history shows is the condition
throughout Europe, where the
single gold standard prevails. q )ld
bsing concentrated in value, lesa in
weight and bulk, and almost exa9'
one half of the money of the wor
| is SO much more easily handie
possessed, and cornered ttaa silver
that the great money barons OF
Europe and their coadjators in
America, designing TO rule TIL
country as Europe is ruled by the
power of money, and TO reduce our
people to the same condition il
! which the common people of Enrote
under the power of great moueyed
aristocracy, now exists, are moving
heaven and earth to destroy silver,
the only visible obstacle which
stands in the way.
If the Sherman act shall be re
pealed without being sub tituted By
some other which shall provide for
the free coinage of silver, what viii
become of the silv sr already coined
aud the bullion now in the treasury:
There are of standard silver dollars
$4l9 335, 4so, and enough of bul
lion in the treasury when coined to
swell this amount TO about 5000,
coo 600 WHAT under these cir
instances would be the status of
this silver? That with the uncon-
ditional repeal Of the Slermal act
silver will fall heavily, nobody
doubts. The dapth to which it will
tumble must be mere matter of
oon scture.
Producing, as this country does,
Al per cent of the silver produced
in the world, its public sentiment
the strongest of that Of any one of
the great powers of the earth in
favor of its equal use with gold az
a money metal, its abandonment by
US will be its death klell so far az
respects its use as money, except in
such subordinate ways and such
limited quantities as OBTAIN in all
gold. standard countries.
Our experience since 1878, when
the Bland act was passed, as silver
has been hammered down and boy
nntfad hr the national hanks hv the