Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-09-10


behind II urging It's passage. the fre
men OF America will have bowed thei
necks 10 the yoke Of European dominate
IN their foreign and domestic fnancis
ndains. Rothschlld and the Bank o
England, with their rctaincrs, dictate th
financial policies Of Europe; and II III
single gold standard Is established i
America, then R0thschild and the Ban
" England, with their New York asso
riates, will become the arbitcrs Of Amer
lean finance and the dictators Of on
financial policies, because they control tbi
gold we win be compelled to have.
The director OF the mint In his lates
report, Of date February 10, 1893, refer
ring to the worlds product OF gold fol
The years 1890, 1891 and 1892, says thai
pccording TO the revised totals the amount
was as follows; 1890. $113,1iO,6O0
1891, $l20,61S.S0O; 1892, $50 $1,000.
The gold product Of the United States
for the year 1892 Is estimated by The
director Of tue mint 70 be S33.0OO,OO0
k16,01G,40S was used in the industrial
arts, and for 1892, $1G.044.o53 was
used IN the arts ia the United States
about half Of the product, leaving the
other half for coming. The director OF
the mint few years ago estimated that
product was consumed In the arts In the
manufacture Of jewelry, gold plate, in
dentistry, etc.
The gold product Of the world has been
for many years dwindllng being about
ElO0,0OO,0OO, until In the last two years
there has been q slight increase. Deduct
Ing the directors estimate OF the wOrlds
consumption Of gold In tho arts from The
gold product OF 1892, the largest In many
years, and we have left for coinage ssh
$4,000 to recruit the losses Of the orig
innl stock by abrasion, handling. aud uc-
cldent, and meet the necessities Of tho
world arising from the growth Of popula'
ton, business and commerce.
Over this the nations of the earth must
struggle and scramble for accesslons TO
their present stock. 1t Is the European
policy that this shall he so, because
Europe already holds possession Of y
and can fix the price upon II. There all
development Is completed and finished,
population u stationary or declining. aud
production. II not reccding, Is at least
not advancing. StagnntiOn " the order
OF the day. Our country is young. full
OF Vgor, growing rapidly In population,
both from natural causes aud from i'm
migration. New states, new communities
are being founded, great tracts Of new
country bong populated and opened 20
production, new enterprise and new IN
dustrios are being incepted aud pushed,
and general progressive development the
leading characteristic Of the people, the
country, and TIE times.
A people aud country ike this will
starvc, will lnngtish under suppressed de-
yclopment when held down 10 volume
Of money circulation allowed by the
atistocratlc rulers OF Europe 10 their
oyerorowded, underDnid, and Oycrworked
people. Yet this is what il proposed for
our people in the pending bill II will be
said In reply 10 this that we have silver
certificates, treasury notes, untionnl bank
notes, Erecnbaclt notes, and other tUuus
Of money IN addition 20 gold. There ia
one conclusive answer 20 all such dsser-
tons, aud IL Is that all our paper money
Of every sort, kind, and description IS held
TO be ultimately rcdeemnhlo IN gold, and
therefore, the volume Of our money must
be estimated on the breadth OF the metal.
lie redemption fund on which il rests.
Before silver was domonct2ed the vol
nne Of money rested on tho broad basis
OF both gold aud silver which was not
more than ample for It's redemption, but
was deemed sufficiently safe for a reason
ably abundant circulation. but since sil-
yer decentralization, the metallic basis for
paper money having been reduced one
half, the volume Of paper, IN order to be
safe, had 10 be reduced and adjusted to
the smaller metallic basis on which II
rested for redemption. II Ia this reduction
which has forced down the prices of com
,nodities and all the products of labor,
which have fallen because the volume Of
money IN which oil vnlncs are measured
has been contracted onc-half.
Our experience since 1873, in the fall
Of prices consequent upon the destruction
of silver money, establishes this PROPOSE
lion. The insutlicicncy OF the gold basis
sought TO be forced upon our people by
their European imd American financial
masters Is thus made plainly apparent
That our volume Of paper and credit
money u a large Ovcrissue and Is out
standing greatly In excess of safe pro-
portion Go the gold-rcdemptiOn fund Is
made manifest by existing financial dis
turbauces, The temptation to oyerissue
has always been regarded az Our OF tle
principal dangers Of the single standard.
England has. since her adoption OF the
gold standard, been called 1.-THE land OF
pnnics."
With timetable currency firmly o..
tahiehel. both metals, under the friendly
and fostering care Of the government aud
banks alike, instead Of having silver boy
coted and Disseminated against as Il
has been by the banks and the govern
mcnt, In defiance OF the peoples demand
that II should he otherwise. with onr
paper and credit bottOmed On the two
metals Instead OF being confined 10 one.
VIZ would now be enjoying peace aud
prosperity instead Of being threatened
with universal bankruptcy by the greatest
financial disturbance that has ever oe.
cnrred during this generation.
The gold basis on which our credit has
been resting has proved too narrow. and
II has been an easy natter for the con.
Rplrutors who have produced the existing
crisis TO topplc over the paper super
structure, producing chaos aud confusion,
We ylyldly remember the widespread
destruction resulting from silver dcmonc-
tlzaiIon and the resulting contraction Of
money circulation In 1919, We now hive
the same experience In the contemplation
OF tho sweeping away Of tho partial re
mVnetiaation Of silver by the act OF 1878,
Lnown as the Bland act, which the reneui
o. the sherman act Will complete.
As before remarked, notwithstanding a
slight incrQase In the production OF gold
for the last two or three years, ,he pro
fnction Of that metal has been declining
throughout the world for many years.
The product OF the mines Of the United
States, which has been between one-thlrd
and ono-fourth of 1.-The worlds entire
production, has been derived almost On.
llrely from silver mines az an incident of
silver mining; aud the closing down large
y OF these mines by reason OF the great
depreciation Of silver, will greatly al.
minish the supply OF gold In the United
States. still further reducing the already
confessediy Inadequate supply Of that
uold and silver are precious metals the
world over. and have been 40 through
all tho agcs and will continue TO be, silver
as fully "a gold These metals hnv. Il,