Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-05

theory up TO approval and when the
load OF debt grows irksome and the
young nations increase IN other wealth,
there are not wanting class TO warn us
that we are destroying confidence and
impcriling our future and existence by
pursuing a course that will lead the
usurer to fear us.
OF all the gold money In the world
the u. $. Mexico, Cuba, Hayt. Canada
and South America own !735, zoos. 100000
one hith-China, India, and Africa, have
not a dollar. Japan has 10000 GOO
an the rest IS To- Europe Why should
not Europe, as the owner Of iour-hiths Of
the worlds gold, want a gold standard 10
that she may control absolutely the
only measure OF values, and so dictate
terms to all the world'
The gross production Of gold In 1890
was sfi6ooo,oOO. or this the United
States supplied i52o5ouoo, and all the
rest Of this continent stt ,ooo,o 3o-iu all
about $1,000. 600. This leaves to Africa,
Russia and Australia, and the balance Of
the world, .g73,ooo,ooo. Herein Il be.
comes evident why the interests Of
these nations lie-in the maintenance Of
gold as a single standard. II we absO-
luicly degrade silver, We cut of so far
as this continent Is concerned In
mining sense the production Of gold and
| lead because these metals are found In
/ conjunction, and are seldom mined
separately. Il IS estimated that our
silver.lcad ores carry from 81 to GO per
cent Of gold. II by the complete de-
mOnetizatou OF silver. therefore, we
stop the production OF silver we also re-
ducc the output Of gold say so per cent.
This would leave the gold production Of
/ this continent at about SAT 10000 as
/ against N3ooo,ooo now-or about IS
per cent OF the worlds gross product rs
/ against nearly 20 per cent heretofore.
OF the worlds product Of si66.ooo,o0
/ in silver, however, IN the same year
this continent contributed st4oooo,oo0,
J or over hve.sixths. Take the total
l value OF gold aud silver produced by All
| the rest Of the world ia 1880 lcaving
out this continent) and Il aggregates
about 500, 90. The combined gold
and silver product OF this continent was
over siSo,ouo,oo3. In the light Of the
contest now waging against silver surely
| these figures are significant Let silver
once be rehabiltated by all the nations
| aud what would be the RESULT The
| financial sccpire, following the newt
Y hNlH AulHN W AlNlllaNANUt MhNlN htNNA
/ for the west-and this contiuent-blcst
Of God In agriculture, and boundless in
mineral resources would not alone be
| ;hc producer OF food and clothing and
luXurics for an the world She would
| also be the banker for all the world.
Who can blame Europe' In fighting
or mono.metallic standard, she con-
/ tends for financial existence. In con-
I tend ing for the rehabilitation OF silver
I the men OF the west are fighting for the
early attainment Of that destiny which
| this nation, in the economy Of the
| Creator, was designed To- I'LL.
| II IS contended by papers and speak,
| crs In the east that silver is cheap money.
| The intrinsic value Of gold aud silver
I take to be their actual cost-the human
labor put into their production. II this
be the true explanation there is not a
tilyer nor gold dollar in circulation
shat has not cost vastly more than any