Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-07-30

tho policy that our government should
supply market for the product OF any
class Is more than | can comprehend. ine
silver mine owners and specuniors IN sill
yer bullion are not entitled to the protec-
tlon Of our government any more than our
the government should be compelled TO
purchase silver In order 70 furnish mar
ket for the producer d silver Is s'r r,InSt
Wall street and the gold bugs Is but the
most blatant demasog the sherman
epilepsy and commercial PARALYSIS 1 would
like Of Coke, Reagan. Charley Culberson'
s Abbott and some Of the other strong al,
! unlimited coinage of silver VIII better con-
I dltlous l care nothing about the car stable
( platform demands. Any person who con.
/ tends that silver can be coined IN Tree ana
unlimited quantities upon the ratio OF l6
| TO /, Is either Ignorant 81 the laws OF
monetary science. or his not the courage
20 teach the truth. Silver Is quoted a.
40 cents an ounce: an ounce contains 40
grains, According to the present standard
the silver dollar contains 81 IL grains OF
worth .So.5llI and The legal dollar con;
| tnlns Su,45Sli nat value and bounty OF
81 100 Is the proposed remedy Democrats
mural ratio Is 2l.55 to i, II can under
stand the use Of language and the mean
Ing of words. the silver advocates desire
10 ulserlminntc by law In favor Of silver
and enter Into conspiracy 70 drive gold
the inexorable law OF Gresham,
Why not demand Tint the government
| QufcndSe silver and shoe all the horses
belonging TO the United States army with
silver shoes IN order 10 keep up the price
OF silver one hundred and eighteen Years
ago Adam Smith, after a careful review
OF the variation and decline In the value
or silver, warned the commercial world
70 beware OF breakers, England In 1916
Needed the warning ani has since been
mistress Of the commercial world Before
- ldf uls,SNefy OF America the commercial
WAS 10 TO /. The discovery Of America
and the development Of the silver mine
OF Peru and potosl caused a decline in
tie value Of silver Of 10 per cent. aud Ia
100 years the ratio changed from 10 to /
10 10 20 !. The discovery Of the California
comparative relative decline In silver TEN
Pnrariiy' but the suicidal policy Of the
United States OF forcing into circulation
a paper currency hustened the final over
throw OF silver. our reform friends,
among whom 1 include Reagan and Coke,
for they advocate the Pgpullsts' ideas con-
corning finance, seem to drllght In referring
10 1873 when the silver dollar was worth
Sl.B, but they do not seem to understand
that, since 1873 there has been steady
natural law, In 1861 the Nevada silver
mines yielded S2.0p0o0 In 1854 the
yy ie5d wa, IS, Siioeh90o In 1870 The annual
States was S10,OOO.0OO, ana In 1876 S82
} OObuJO. In 1876, SiUOtO.OOO and Ia $50
! must remember that since ISL germany.
Sweden. Norway and Denmark have
adopted The golil standard and the Latin
nuion. France, Belgium. switzerland,
Greece and Italy have practically cio.ei he
door of their mints against the coinage
81 L silver G,, Teept a ..l needed to maintain
, Iulted states has forced into the channels
Of circulation Nl6'ID3,3l4 grppnbacl, notes,
| Slliil2.tIi national bank notes and $780,
I OIn,Gji United States treasury notes issued
under the shrrmnn act OF July IL Is o.
Thus dispacing SG37.gii.5S5 Of silver wh0i
| Ii 1t4.4 III.
omnipOient nat Of nature. That Is all.
g ,ia Uohini,2n rNsiS g to the .dea Of
unit 81 value. having an Ideal rather than
real existence. The yard and gallon
!, are units Of measure. The day Is the unit
Of time The dollar the unit OF value.
| Dollar Is only reatlvet ERIN, relating
= to all value and to a things OF value
1 offered for exchange. II is the unit That
4 tl9ns or value are made nj measured by
SlU worth of cotton wient OF
corn mean rs much ms the same express.
k sion IN gold and silver All values arc
| detcrmincd by the weight. gulnniy and
n quality Of the product offered Tor exchange;
o rule
e THE, law Of supply and demand regu.
a Iates Hl Yllnes. The ne of value may be
Diminish the supply-the relative value Is
= second Increase the demond-,be r.la.
, tive price or value Increases IN like ratio
Y Third; Increase the suppy-the rela
|
n Fourth. phninish the deluand-the valu,
declines In like ratio
This Is the mathematical equation o
r. political science aud the only quoutitie,
"a revealed IN the equation are supply ant
A demand am In favor Of the repeal OF
a The Shsrmnn law, opposed 70 free coinage
a. OF gold or silver either. Think that N,
r, owners Of the bullion should pay the cos
"A OF coinage In all cases; am opposed Il
" unlimited coinage N silver with legal pow
ID ers' because the quantity of money will b.
- so increased that under the Gresham lav
gold WIN be displaced, Inferior silver coli
=, will iill the channels " circulation, and w
~ Will have bistnndard OF ynlue-sllver an,
s. paper. Gold Will he an unknown Qunntlt!
in IN I'm, American monetary circles, but viii
over the world. An increase In paper eur
rency dlsplaces the same number OF sye
IN An increase In silver coinage will dispiuc
"a as much gold Us there Is silver In circuln
n lion The partly 9f the two metals canno
Up otherwise. The Idea is obsur1 and tn
n. policy ,toolisll as well try tn adopt go,
u, and silver watch for standards OF line
Oh as well declare that there shall lie tw
nj standards OF measure each OF legal fore
st aud effect one ,ontninhk iwcniy.fnu
a. Inches, the other thlrty-si1 Inches; as wei
IN adopt two standards Of liquid measure
60 declaring that one containing three quart
e. shall be ns lawful aud valid for ali pur
y. poses rs The other. which shall coniail
y four quarts. II silver Is maintained as mon
OF ey Y mnsi be as subsidiary coin. aud II
Y. be limited aud The supply must conforI
"a, To the demand.
III u think the safest policy II both vol
On and silver are TO be used as money Il /
no stop the coinage OF each metal Issue goi
!, certificates rcdeemabp IN gold aud silye
y" certificates redeemihp IN sllvrr: mai.
rs these certificates legal tender for all pui
eli poses aud when redeemed pay them on /
gold AMI silver bullion al the market prlc,
T. or value OF each metal per ounce. Tn
MS circulation should he limited and all M
to tional bank circulation retired II Is No
Or | the quantity Of circulating mediums mn
~ Is needed hut the quality Every dolia
gu should he worth 81 commercial exchanged
ar bic value. The standard OF Democracy
nm opposition 10 class legislation. Tree an
u unlimited coinage VI silver with log,
ca teuier power, IS class LEGISLATION. therefor
ny undenocrailc. 1t Is opposed 10 the M
"a ural law OF supply and demand. therefor
10 wrong. II Is contrary Ia the prlnciple
" OF monetary science therefore cannot II
To- maintained. No relief can be tXpectp
from blatant demagugues. and II hur coz
gressmen do not understand political 40
ence they Should not practice poIitirr
kuyery by teachinga doctrine that Ca
M only Increase distress and add lnfamy I
M wrong. Reagan. Coke and all Texas col
iil gressmen seem TO have lashel thcmselys
Ia to the Third party creed. For myself
ny prefer honesty Of opinion to political mr.,
NJ, Torment aud believe that Adam snIt
- Say, John Stuart I'M, Turgot, Rlrnrdo HI
he ihews. ltossl and Roscher Cooper an
OF Perry are greater masters of n,onetar
In science than the acrnbatlc p1liffcInns 7,