The representative. [volume] (St. Paul, Minn.) 1893-1901, 1894-10-10
VEST ON SILVER.

One would think, after reading the
old party gold bug papers that nobody
of any consequence favored the free
coinage of silver; that it's advocates
are theorists and not men of wide ac-
quaintance with public affairs. The
following extract from a speech by
Senator Vest, delivered at Kansas
City, Oct. 1, is worth reading in this
connection. Mr.. Vest is eminently
man of affairs. Long leading lawyer
in Missouri, he has now been for some
years one of the ablest men in the
United States senate. Mr.. Vest said:
ut is no wonder that it's voteries de-
nounce silver as dishonest money, and those
of us who favor the free coinage of both
metals as cranks and demagogues. For
myself I desire no higher encomium than
the abuse of such men.
"U'hat matters it to these people that
the debtor must pay by reason of the old
standard twice the amount he contracted
to pay? What matters it that the price of
all commodities goes down by reason of
the increased purchasing power of gold?
Their constant cry is for honest money, as
if the use of silver meant a dishonest dol
lar. They talk fippantly of intrinsic val
ue, if there intrinsic value in gold
not to be found in silver.
"The intrinsic value of gold and silver is
almost nothing but the value which tempts
the honor of men and the virtue of women
is created by the money stamp put upon
them by legislation. AS money they rep
resent all things; metals they represent
trinkets and ornaments.
1.-The gold worshipers first close the minis
to silver, and then point to it's fall in
value.
''Of gold and silver, in the world there
60 nonJ Zn oflk. en-
100000 in silver: I>andIlithis constitutes the
circulating medsVm ahd the basis of all
values y M
''Can there be any doubt that the striking
| silver out of circulation as standard money
must destroy IFS value and enormously
increase the valtle of gold?
Suppose that3she Transportation of
community could be done by red and white
horses and that law should be enacted
making it criminal to use white horses
what must be the effect? Would not
| white horses become worthless and red
| horses double rEvalue?
This is eNactN what the money lenders
| have done to sAYertAnd gold. under the
pretense Of having hdnest money"
Now here is thes gist of the silver
coinage question. 1t is stated SO that
school boy can understand it. The OBJ
ject Of The gold bugs is to make gold
| They are now the owners Of the bulk
Of it, and if their plans succeed its
value will be greatly enhanced and
the value of all other kinds of prop
erty deprecated. They have a corner
on the stuff; and they know that the
only way in which to make that corner
effective is to stop the use of silver,
except for making change.
The opponents of silver coinage say
that the unlimited coinage of the
white metal means imitation. That is
true. The coinage of any kind Of
money or the issuance of any kind of
paper money which is a legal tender is
imitation. Imitation means the revival
of all kinds of business. 1t means an
advance in the price Of city lots as
as we'll as farm lands. 1t means an
advance in wages and an increased
demand for all manufactured pro-
ducts. 1t means justas much for the
merchant, the shop-keeper, the manu-
facturer as it does for the farmer. 1t
means an ending of the years Of de-
preston and falling values through
which the country has been passing.
1t means revival of confidence in
business circles all over the country;
the relighting of extinguishedf furnace
fires; the building of more railways; a
general revival of all sorts of business
except, perhaps, that of banking. The
bankers are not to blame for opposing
| unlimited coinage because they know
that its inevitable res ult would be the
repayment of the obligations which
they hold now by the millions. In
stead of people wanting to borrow
money at heavy rates of interest, they
would have money to deposit in the
banks. OF course this would mean a
loss of profit to these institutions, but
the country would stand that, and the
bankers ought to stand a share of
business depression. They have had
their innings and grown wealthy