Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-10-06


pie. We shan undoubtedly soon have
one hundred millions. Commerce, en-
tefprise and Industrial actiNly, II -
preeumed, viii increase, pari passu'
with our constantly augmentinB popu-
lation. There must inevitably be ne
cessity for an additional supply OF cir
culating medium. VIII the gold mines
furnish the quantum either for active
circulation or for redemption OF paper
currency, which must surely be requir-
ed? If not shall we issue bonds2 shall
we descend 10 irredeemable paper cur
rency--to fatism7 The time hastens
when IL will be the last round without
more money We must obtain Il some
how. and, In my humble opinion, we
must turn our face 10 silver ana reso-
lutely insist upon the double standard,
and the free and unlimited coinage of
both the great money metals.
mo matter what the present or tu-
ture output Of the mines may be-no
matter how improved processes OF min
ing may have reduced the cost OF pro-
ductlon, the gold and silver OF the
world are never likely to exceed the
demands upon them for monetary ana
artistic purposes, NO human shlll uail
decide when their veins win cease to
now or how their product may be d.
mlnished. or how much Of either Of
them may be accumulated In series
Of years. Nature has allied these
metals In wonderful adoption TO the
monetary necessities and conditions OF
all ages and all peoples. Their scare
ity, and not their abundance, as RUE,
has caused past fiscal disturbances ana
caLamities. Neither OF these metals Is
or can be permanently cheap They
are precious now and have been since
civilization began. / believe II TO be
historically true that while for nun
dreds OF years previous TO the demone-
tization OF silver In this and other
countries the ratio OF the production
OF these precious metals has been va
rlable. still the ratio Of value for that
long period has been remarkably uni
form. They are now and have been In
the past and / think, always win be
IN the future the steady foundation for
every superstructure OF sound fiscal
science and monetary economy. They
do not, and can not In the nature or
things. furnish Of themselves all the
money requisite for the business trans
actions Of the people Of this, or any, or
all countries, but they are the genuine
and solid basis Of all enduring sys-
tens OF reliable currency. The moro
gold and the more silver we have the
stronger and broader will be the ground
plan Of all paper money and the more
reliable and upfailing will be the
sources Of redemption.
There can not be an injurious In
flatlon OF legal tender silver money
Paper currency may be- Inflated and
may depreciate from undue expansion
and over-issuc-for its processes OF
mere manufacture are simple, mex
haustible and not specially laborious;
but metal moneys. the genesis OF the
mines. the eplotiation Of which means
Drawn and sweat and danger can
never be lhnated The ages OF the
world and the nations OF the earth
have never been surfeltcd with this
character OF money.
ut would be a singular futuity
which would prompt foreign people
TO import their bullion Into the United
States. at all the expense. direct and
incidental. which Its transportation
would involve. for the privilege OF hay
Ing Il converted Into American dollars,
the coinage OF which would demand
more silver per dollar, Mexico and
Japan excepted. than would be re-
qulred by the laws OF any, country
from whence the expectation could be
made. especially with the knowledge
that coins Of all sorts are foreign and
OF bullion value only. when they leave
the realm and cross the boundary OF
the nationality which minted them.
But If 1t be true that an abnormal
amount Of foreign bullion would bc
invited to the United States by the
free and unlimited coinage OF silver.
If the coinage out put OF an the mines
OF al the earth should be emptied into
our mints, there certainly could be no
irreparable mischief done ln the course
OF several years, " ever, either in the
way Of a superabundance OF silver
money. or reducing the country to the
supposed perllous condition Of a silver
standard basis. such an inflow for
ton Years would but little more than
eupplv the amount Of money TO inset
the REPRESENTATIONS OF one congress.
aside from the necessities of our grow
ing population and commercial de-
mands
"yye ar. told that We have more
rnoncv. uer cnput. In circulation than
yye have ever mad before. and that to
Increase Tho amount would be to re
oulro granter prlces for the same
amount Of commodities than we have
Ia NM, nnder oXlsiinr conditions In
othrr vorda ~ thp nunntltv Of money
vssr. doUbied mo nrices al evsy.tbIng
yyould be- doubled. ana hence thnt NOR,
,thouid be no increase In tho volume
81 mopav The conyerss OF tbIs MON
osltIon h thnt il we reduce the volume
W. YIN proportlonntelv reduce prlres
nrd a,cordlnrlv magnify Inc purrbas-
M, ,,,,,e,. or money while wa dir,inisb
N,a ts..1t,,,, nn,,n, ~ mo nr,,i,tcts ~
-