Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1893-02-19

pendent men, knowing no party but determined that
their interests and the interests of their elowcitizens
should be recognized, the convention would not have
been in vain. Instead, it accomplished nothing
Yet the delegates who attended it knew that on the
question of free silver each party has always sought to
misead its adherents by the adoption of meaningless
and ambig uous platforms.
The Republican party in its cowardce has placed the
solution of question of free silver not i'll The hands
the American people, but i'll the hands of the repre-
sentatves of the money lenders of monarchal Europe
For the first time in the history of nation, ques-
ton purely national to be decided by an European
instead of an American congress
1t is than mere question of money for on
the action of the International Monetary Conference
depends whether not the provisions OF our National
Constuiion-the law of our Notwithstanding silver
and gold the money of the nation shall be respected and
The failure of the International Monetary Conference
and its gnominious treatment of American interests
could not be otherwise than expected yet its decision
is being AIDED by Republican and Democratic leaders
forever settling the silver question: and usying
the repeal of all existing silver favoring laws
The question one that should never have been
submitted to foreign arbitration. 1t was question at-
fectrg purely and simply the welfare of the people of
the United States and such should have been de-t
cled only by citizens. If monetary affairs
to be settled in Europe and by Europeans, why should
not the question Of tariff be likewise decided?
The creation of the International Monetary Confer
ence and through the instance and request of the
Republican party merely suberfuge to battle and
defeat the demands the for increase in the
the volume of money, III order that the power OF the
money-lender might be diminished
Cowardly as the Republican subterfuge was, it was
cratic House OF Representatives Ill defeating the free
coinage bill passed by the Senate in March, 1892.
As parties both the Republican and Democratic par
ties opposed to the free coinage of silver although
in each there individual members who favor it. but
whose effort to make it party issue are utless 1t
was the announced hostility of Mr. Cleveland to the
measure that lie him in the eyes of what is termed
the safe money element of the East strong Mr..
Harrisons position the question was denticay that
of Mr.. Cleveland's From neither candidate had free
silver aught to expect.
Both gentlemen had opposed the law of 1873, which
allowed the coinage of i'll silver monthly and
which provided that not less than $4,000, in that
metal monthly should be coined.
Since 1873, administration, Republican or Demo
cratic, had coined the maximum S4oo0,oo OF silver
monthly. Even with the small coinage Of 81, 100000
monthly, in 1887, Mr.. C1eveland's Secretary of the
Treasury denounced the law dangerous and unwse,
and used the influence of the administration to
its repeal and thereby prevent the further coinage of
silver.
ment The law authorizing the purchase Of $4 100000
worth of silver monthly enacted, President Harri
son approved it. only because he recognized i'll it
OF still further delaying free coinage.
The position of both gentlemen and the parties they
represent is the position of the money-lenders of the
East.
This opposition has been created merely to make
gold more powerful and the moneylender more potent
by making it the single standard by which all other
values were to be measured.
Producing nearly onehalf the silver of the world the
United States the heaviest losers by this action
Yet while the much longer continuance in the decline of
silver financial paralysis and bankruptcy to the
the West means little less to the producing and labor
ing masses OF the East.
For forty years pouring i'll steady stream to the
east the gold and silver OF the west vitalzed every
form Of business, upheld the credit of the nation
through the greatest of modern times and made re-
By the denomination of silver one half of the metallic
money of the natio" stricken down, thereby VIC
lanS contract the time existing i'll the United
States entailng enormous losses while its effect
ana practically make debts perpetual it reduces
the debtors ability to pay besides causing contraction
in the currency which reduces values, until there is
profit left to the farmer the miner the stock grower
the OF small capital who depend on the sale of
their products or their labor for livelihood.
While to the producing and laboring masses of the
entire nation the coinage of silver is of the utmost
moment. To section is it of greater importance
than to The citizens of Arizona and the of the
west. Aside from the enormous loss annually sus-
tanned by the of silver mines, there is di
rect and growing burden which it imposes OIL every
citizen. Every railroad every canal built every enter
prise undertaken, every farm that is reclaimed Dor
rowed money its borrowed funds from the east
The is and will be for years to the borrower
the east the lender Any action measure which
means scarcity of money means dearer money. 1t
means not only higher rate of interest, but the
p,nditure OF more labor and effort in securing the
money to repay the debt.
70 illustrate and as showing how the value of gold
has and is increasing take the items of copper and sill
ver which constitute Arzonas chief mineral products
In 1873 pay indebtedness 81, 600 in gold it
qured but 294I pounds of copper i'll 1892 pay like
Indebtedness 1t requires 1892 pounds OF copper AT the
prices paid tor copper i'll 1873 the copper product OF
Arizana in 1891 would have been worth $I359725o, in
stead of bringing it did but S5e55ooo, yet the per
capita of copper in the United States i'll 1873,
bat of pound by population of thirty whine
Million while in 1891 the per capita of the metal
had increased to than three pounds by popua-
ton of 65,ooo, 1000.
No better illustration of the decline in value of all
other of property that has followed the increase
in value of gold be given perhaps than the decline
which occurred in copper during the years ending
in December 1890, which years are taken on account of
the availability of correct statistics During those
years the price of copper declined sxtyfve per cent
while the increase i'll annual production but thirty
five per cent this too in face of the fact that the actual
consumption and demand for the metal had increased
during those years over four hundred per cent.
In 1873 mortgage of Fl 900 payable in gold could
have been paid with ITO ounces of silver in 1892 it
quires 1914 to discharge the Indebtedness How
this metal after copper the chief product of Arizona
NV he pStah MT Of