Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-07-08

I ~ AliN fWhAiAAe At't IthAtN itAhN ~ ftAN
10. Tho free and Unlimited coinage OF
silver win secure 10 the United States y
| substantial monopoly of the trade with
| Mexico and with Central and South
America, and would realty enlarge our
trade with China and Japan. If the
| people of those countries could pay for
the manufactured fabrics and other ar
ticles Of export from this country with
silver which is the money of those
countries, and should at the same time
be required to pay gold for such com
m0dities In the markets of Europe, II
requires no argument TO demonstrate
that they would trade with us. This
would give MS the control of the com
mercc Of this continent, and greatly en-
large our trade with Asia; and 1t would
do more towards transferring the center
OF the worlds exchanges from London
TO New York than any other one thing
| can think Of And II would seem that
this ought to arrest the attention of our
manufacturers aud merchants and others
furnishing for export TO those countries
II. II would, while maintaining gold
and silver as the necessary basis of the
worlds money, enable the people of the
United States to utilize the extensive
deposits of silver with which our coun-
try il blessed. | assume that the people
of no other country, In Possession rs
ours is. of over 10 per cent Of all the
silver mines from the earth would tol-
crate The stupenlous folly Of destroying
its quality and value as money, and of
striking down mining interests in which
so many people are employed, and In
which 50 much money Is invested. II
would augment the wealth of this cuun-
try by re-establishing our large export
of cotton and grain to Europe, which
hlS been so greatly reduced by the UNI
friendly action Of our own and other
governments to silver. As silver and
f.f all
IN price together, while the price of gold
has gone up. our exports of cotton and
grain and other farm products, to Europe
have been reduced, and the exports, es-
pecially of cotton and wheat, from In
din, Egypt and Russia to Europe have
been correspondingly increased, to the
great injury of this country
-, The large indebtedness of the
government of the United States anil
of the several states, of municipal. rail
road, manufacturing and other corpora
tons, and of associations, firms and
private persons, amounting in the ag-
eregatc 10 many billions of dollars,
makes It a monstroUs crime to violate
the, equitable right Of these debtors to
make payment in the kinds of legal
tender money which existed when the
debts were created, by dcpriyiug them of
the use of silver.
To strike down silver rs money woull
aud very greatly increase the value of
all securities for money In violation Of
the implied law of the contracts unlrr
which these debts were crcntcd. Aud
when we remember the almost meal.
chlHble amount Of the Indebtedness Of
me governments and corporations of the
world who is bold enough 10 assume
thar these debts can be paid II the legal
tender currency of the world shnuld br
reduced to gold al0neI Does anyone he.
licvo that IN that event Il would be pos
S.blt Tor the railroad corporations of the
United States to ever pay the more than
hvc billions Of dollars which they now
owe? The most of which is held hy
European capitalists. largely by those of
Great Britain and Germany.
~. The public and official statistics
show that since the passage Of the act
of 1873. which demonctizcd silver. the
value Of all property in the United
states, real and personal has been re-
luced not less than onc-thrd, thus in
iiictiuc loss of many billions of dollars
on our people, for no other or better
reason than to Augment the fortunes Of
the rich and comparatively few holders
Of bonds and gold. At the expense of
the great Industrial and producing
classes Of the people Aud the same
cause, as the hooks of the treasury de-
partment will show. has greatly reduced
the exports of the products Of this coun-
try. to the great damage of our people.
II. There are persons who think II
necessary to increase the amount of
silver in the dollar as the proper way
to restore the parity between that metal
aud gold Such persons assume that the
rise In gold is because of the deprecin-
ton of the value of silver They do not
seem TO remember that when the act of
congress which demonetized silver was
passed, the silver dollar was worth three
cents more than the gold dollar This
proves that 1t was not the want of
value in silver which brought about tho
hostile legislation and executive action
which has increased the value of gold.
And in further demonstration of this
truth. it must he remembered that about
1896 aud 1857 when the yield Of gold
FROM the mines Of California and Aus
trnlia was greater than the output Of
silver, the hondholders and the moneycd-
men used the same arguments for the
decentralization of gold which they are
now using for the decentralization of sill
yer, since the output of silver has he
come greater than that of gold And
Austria Hungary actually did dcmone-
tie gold. This hsOws beyond doubt that
II Is the amount of legal tender money
aud not the kind of ii which the boni-
holders and bankers are opposed To.
And IL the United States should adopt
the free aud unlimited coinage of Sill
~
one of gold. | do not doubt but that the
bullion Of the two metals will be ut
par with each other, as the dollars made
from them now are. There is class OF
men who talk Of the OS-cont islver dollar
lar. Where are such dollars To he
foundY Not in this continent. nor In
Europe. nor in Asia. The silver dollar
here, rs We see daily buys as much as
tho gold dollar. And the same is the
case everywhere. II is the bullion sill
vrr, and not the money silver, which has
been degraded by hostile lcgislAtiunI
and by hostile administration. And
friendly legislation would soon restore
il to its old value.
10. II is charged that the depreciation
VI the price of silver bullion has driven
large amounts of gold out OF the country
recently. That is not true. The Shcl-
man law Of 1890 made the silver ccrti-
hcntes redcemnhle In either gold or silver
coin. a prominent part Of the great
conspiracy against silver and against
the people has been played by the execn-
tive department of our government, And
Ia this the Democratic administration
followed closely In the footsteps of h.
Republican predecessor The money
sharks took advantage Of the law nv
buying up silver certificates by the
wholesale at q possible discount, and go-
ing to the Unit,l States treasury and
demanding gold for them. These certl.
hcates were by law payable either In
gold or silver dollars II, when this now
feature VI the great conspiracy was 40.