The Bessemer indicator., 1893-06-17
whatever may be our financial policy, esr
currency Will never b debaAed or degraded

, whatever may be our financial policy, sar
currcncy viii never b debaAed or degraded.
An International coinage Agrce1ent
would be Of iucalcuisble bcucnt, but witheut
1t the united States, with free coinage - The
present ratio, would maintain the parity OF
the metala- Gold would not leave the csuu-
try, except as 1t would go In nny event 10 pay
our dcbts atrosd nor would II reach .
premium TO be hoar,lcd. There Is no stock Of
silver In the world To be dumped In this coun-
try, nor Is the production greater than the
need for 1t as coin. France. with fewer re-
sources and much smaller population, fought
the fight for the double standard successfully.
and maintained the parity. OF gold and silver
for seventy years The United States can
maintain the integrity Of the mctsls with
equal success, and until the other civilized
nations Of the world, tired OF the depression
and suffering brought about by an insufficient
supply Of gold appreciated far above its nor
NAL value, win return TO the double standard Of
both gold and silver. the production OF which
from decade to decade sccms limited by ma
ture 10 the Increasing needs of growing
world.
There must come before many years, the
resumption OF bi-metailism in Europe. Its
advent would probably be histcned by action
by The United States In any one of three
~ayci
First. By the purchase of gold by the
United staies II the United States should
issue not fifty but three or fve millions OF
bonds, and with the proceeds buy gold
abroad, the supply needed in Europe being
already Insufficient, the probable effect would
be to compel other nations to rc-cnforce III =
yellow metal with the white at rome parity,
The people OF the United States, however.
would never tolerate loan for the purchase
OF gold, an addition to the Understanding
debt contracted for such purpose aud the
political party that attempted II would bo rc
pudiated at the polls.
"Second. The unconditional repeal OF III,
Sherman act would perhaps force Europe 10
some adequate measure for tie protection oi
its vast accumulated billions OF silver now IL
existence as coin. Such aciirn would worn
incaleulable Injury to the people of til,
United States befo.c relief could come. Tn,
immediate repeal of all tariff duties OF ever,
sort would bring about not nearly so great .
calamity.
Third. By the Inauguration Of lhc fre,
and unlimited coinage OF silver by the unltcg
States, and the coinage ~ the bullion now IN
the treasury, silver wou.d at once rcturn 10 IL
former value OF sl.29 per ounce; the ainoun'
offered for coinage would pro ,ahle not ey.
coed, II it eqalled the number of ounces nov
purchased, and with the resumption OF fre,
coinage by the United States and the re-cs-
tablishmcnt of its value, France would soUr
again open her mints to silver, and Great
Britain, In view OF the India interest, would
probably follow with measure recognizing
silver to some extent, though perhaps limit
ed one.
"a Western view Of silver would be iucon,-
pete ii reference were not made to the silly
assertions by some Eastern writer's and speak
crs that the cost OF producing silver Is some
Thing far below It's market value, and this h
advanced as ;in argument against It's rcs;ora
lion n money metal Amos. since The
world began men lave spent their lives sn0
efforts Ia the search for the precious
metals. The prospector ia hardy. brave,
life In his work. IL he iinds the rich pocket
his fortune is made. Fifty fail where one
succeeds, but the search goes on. The hill
and mountains of the mineral-bearing bell
are dotted all over with prospect holes and
shafts which shoScd no pay mineral; ther,
are vast workings abandoned because tht
mineral wa, Too low grade to work, and the
valleys bcloy show scorei of uispllntled mills
deserted because tho process was unit for the
ores, or because the mines had ceased to
yield. When the pockc, is found the profit
for a time Is often large, bat take every ele-
ment Into consideration which goes into the
cost Of the search for silver and compare II
with the yield, and there is 10 doubt that
every ounce of silver has cost more than its
value. few years ago one Of the placer
mincs in Colorado yleldel 800 Il day to the
man. That particular gold cost less than s, an
ounce 10 produce. Near by there were hun
dreds Of men working in other gulchcs who
found nothing. Was the cost of producing
a.
lralin was riding across the country, When
his horse stumbled over n nugget worth S35,-
600 or thcrcabout. Did that tinh serve To de
termine the cost of gold Nineteen mcr.
chants out OF twenty are SAID to fail. Would
you measure the profits of mercantile brIsi-
ness by those oil lwo or three of the great
New York establishments
"'rhc sum OF the labor aud expenses In
Cured In the search for the precious metals Is
greater ihnn the value OF The precious metals
produced, and this will be the fact as long as
mother earth continues to hide her secrets In
her bosom, and e. long as the breast OF man
Il filed with hope.
"Thc intensity OF feeling existing In the
West in favor OF the free coinage of silver can
hardly be coinprehended In the East. II is Of
infinitely greater moment to this great scc-
ton than any other question Of governmental
policy, and while it is unsettled, party cries
sound small and party ties have little
strength. If either Of the Two great political
parties would declare In favor of free coin
age, that party would receive the overwhelm
ing vote In many Of the new states, The
sentiment OF majority OF the states OF the
union is In accord with the Far West The
South which Ia vitality Interested, is practi-
cIily unanimous in favor OF free coinage
The bogir Of the Force bill still dominated
that section during the last election, although
It's ghost is forever laid. The absurd platform
and still more absurd leadership nj the Pop
uitst party kept thousands from voting Its
ticket. Party ties are still strong, and we
love the traditions and cherish the record OF
tlic party 10 which we belong. II, however
neither party Will Afford the relief which the
people believe they need, and which they he
lie We Is CONSEQUENT with the best Interests Of
our country, there will surely come Il time
when from out of the two exciting parties n
third shall come which shall unite the great
South and West IN common cause. Preslden-
,ial patronage Is powerful and the bribe OF
oiiirc is allurlng, but neiiher patronage nor
Office nor party:tradition will forever choke
an ntelligible aud efTcctual demand for the
| restoration Of silver 10 its place as money
metal.
~ IobiDE Railway secrets.