Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-08-24

any Wonoer. tnen. that England Is to-day. ana
has been since 1915. for the gold standard? II
enables her to command the commerce of the
world because gold is the money Of COM
merce1
Mr. Jefferson declared. in his wopderful -
searches upon this and every other question,
that the money of tho American people should
OF commerce, foreign commerce. intercourse
between nations and bankers. The fact that
= = large value can be put in small compass.
storage. all give to gold attributes which no
other metal can possibly have but It is to be
SAID that silver has not 1t uses? Silver has al
bankers and capitalists and usurers, but of the
common. plain people, as Lincoln termed them
VINO IN their domestic barter and their every
Gay business at home do not need this red
despos OF gold, but the money silver with
which they and their fathers have always been
We are told. Mr.. President that ovcrproduc-
zion Is the cause Of the fall of silver in price
to-day; that 1t has not been legislation, but
tnas nat1rai causes. the law OF supply and de-
mand. have brought silver dowa to-day to its
present value in the markets of the world.
Let mo ask my friends. the monometalists, one
question: Was there an overproduction of sill
yer In 1873 when IL was demonetized in this
country by striking the silver dollar from the
coinage of the United States?
Had there been overcoinage of silver so as to
glut the markets and bring down its price un-
der natural rules?
We have the authority of the distinguished
senator from Ohio (Mr. Sherman). OF the secre-
tary OF the treasury to-day (Mr. Carlisle). and
OF our own senses in the reports of the treas
ury department. that but s.OOO.000 OF standard
dollars had been coined in the United States
from 1792 to 1873. We put but a., O0O 900 in cir
culatfon. and not so many. because the reports
OF the director of the mint from year to year
show that the coin Of the country goes into in
dustrial pursuits and is used by the jewellers
ana artlhcers In precious metals and portion
OF that ss.0oo.0OO must have been so used.
Yet with this inconsfderable amount coined
by this government in 1872 to 1873, 1t was
deemed necessary in the latter year to strike
out silver from the coinage Of the United
States Mr.. President. we have had many
explanations of that legislation. A
great Frenchman said: Let me write the
songs Of a people and I care not who
makes their law" Give me the money Of
the people and I care not who makes their
songs. No power can be vested In any
tribunal so great rs that OF controlling the
money Of the people. Therefore. come to the
discussion Of this question with no idea of in
dulging in personality. It makes no difference
many explanations. The most plausible was
that the standard dollar. as it then existed. was
tnconvenfent. No other reason which has ever
been given. In my opinion. afforded one shad-
ow Of excuse for that action. My point made
here to be answered Is. III overproduction and
overcoinass OF silver has caused Its present mt
standard dollars in 1873 Justify or cause the &C
tion of congress at that time?
presented a tale prepared nv DR.. Shoetberry.
that from 1888 to 1910 there was produced thir-
word: from 1871 to 1850 fifteen times as much:
from 1851 to 1855. five times much: from 1855
to 1850. four times as much; from 1851 to 1865.
six times as much: from 1866 to 1871, three
times as much: from 1871 t. 1873. twelve times
as much; from 1875 to 1880. sixteen times as
much; from 1881 to 1885. twenty times much.
and from 1896 to 1892 from eighteen to twenty
five times as much.1
We hear upon every side the assertion that
the overproduction of gold amounted to over
ga 900 OOO according to the report of the direc-
tor OF the mint when. in 1892. in the United
in this country the overproduction of silver
being about two to one, and it is said that this
accounts for the attack upon silver as a money
throughout the world. From 1882 to 1910 thirty
two times as much Of silver was produced as Of
gold II it be logical proposition that the
was 1t then not blotted out from the face of the
earth as q medium of exchange and of standard
value?
have said, Mr.. President. that it was impos.
sible that these metals should remain logically
and Mechanically at the same ratio Many
and facts affect this ratio. Who
will undertake to say now, unless he has the
gift Of prophecy; when the gold mines will
the gold production of this country should fall
one half and of the world one-third. what would
be the result? The United States. il it had
silver would be found absolutely at
the commercial mercy Of the vast boards Of
gold which for war purposes have been piled up
in the treasures of continental nations and of
England.
II Jefferson could to day revisit the earth or
II the dead can take notice OF affairs of the lfv
ing. what must he think of this country that
he helped to establish. and whose independence
he put in letters Of living fire upon the pages
Of history. II he should find that 81 ,0OO,O0O Of
freemen, with a continent for an Inheritance,
tains and rivers, with almost illimitable re-
sources. in the hands financially OF a dozen
men in New York. who make and unmake. and
who can in an hour so hoard the currency OF
the swhole country as to produce money
famine. and then exact from the people their
own terms in regard to their products and
II this country should now surrender silver
It becomes like iron or lead or any other
commodity. and its qualities OF money
are destroyed forever. repeat, il looked at
this subject from the English standpoint ]
would unquestionably advocate gold Gold
represents the genius OF financial centrality.
standard with her vast carving trade. with
her large colonial system. which has made En-
gland itself the great gold emporium which
means the commercial emporium of the whole
world. she Is mistress Of the seas.
IMr. Stewart Ten thousand millions are
owing her from other countries, Mr.. Gladstone
says. Mr.. Vest. My friend mentions Mr..
Gladstone. who could have stated this PROPOSE
ton more succinctly and distinctly than he did
In the house of commons three months ago on
the continuation OF the Brussels conference.
Mr.. Gladstone said: WHY continue the con-
to send any more commissioners? We do not
intend to go to anything else but the gold
We are the creditor people of the
highest purchasing capacity the largest guam.
ttty of which can be put in the smallest bulk.
1t is a blessing to have q favored few to de-
termine these questions for you; 1t Is a great
boon of providence that a few gentlemen in
New York are to determine this question for
the American people, and all OF us who decline
TO follow them and abandon the tradition and
tates Of common justice. are either guilty of
crime Intentionally or else we are put In the
role of harmless lunatics. 1t is a favorite ex-
preston now to talk Of 1.-The lupacy OF silver"
Mr.. President am ready to follow that great
lunatic. Thomas Jefferson. on this question j
am willing to follow the men who made sSe
Of 1850. and said that no state
chould make anything but gold and silver To-
gal tender for the payment of debts II they
that expression. then the English language has
become 50 nebulous rs not to be understood.
We have come to the parting Of the ways
road leads to the gold standard and the other to
the bi-metallism which our fathers established
and which the policy and traditions Of this
country have always favored. III at We may
it with . deep sense of that response
bility resting upon as for ourselves and our
is of course. the duty Of every
legislator. II . democrat can not be q
democrat in the larger sense OF the
term. he should not approach 1t: II
o republican can not be republican without
looking to his party standing and the narrow
OF nomenclature. let him not ap.
proach It; II our friends. the populists, can not