The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-08-11

law. No one will sell gold less than this
price, because they can always get the price
by taking it to the Bank of England. So it
would be with silver if its value should be
fixed by law and its monetary function re-
stored. 1t would never go below the price so
fixed.
No one need fear that should the minting
privilege be restored to silver it would be
produced in such large quantities as to over
whelm the markets. If silver should go to
81 an ounce no more could be produced than
was being produced two years ago. Bismarck
has recently said that the action of Germany
in adopting the single gold standard was
largely caused by pamphlet written by Mr..
Linderman, formerly superintendent of our
mints. He had visited Nevada in the bonanza
days of the Comstoek lode, and wrote a
pamphlet showing that Nevada alone could
produce silver enough to swamp the world.
Six months from the time this pamphlet was
written the mines he visited, and on which he
made his predictions, had ceased to pay ex-
penses and have never done so since. Last
year President Andrews, of Brown University,
who had been delegate TO the Brussels
Conference, visited the silver producing
States and spent four months studying the
possible production of silver in the United
States. His conclusions are published in an
article which appeared in the Review of
Reviews for last November, which | wish
every man here would read.
Gold and silver mining is legalized lot
terry in which prizes are drawn. do not be-
lieve there is or ever has been dollar of
gold or silver in the world that did not cost
somebody at least $l.50. While many men
have won large fortunes in mining these pre-
cious metals, thousands have spent their
lives in search and effort without finding any
reward. They have lived lives of hardship
and constant labor, and died with q pick in
their hands and hope unfulflled. Sustained
and encouraged by hearing of strikes made
and fortunes found by others, they have
struggled on, hoping to ''strike it rich'' to-
morrow or next week.
My hope in saying what | have here to-
night, is that | may induce the members of
this association to study the silver question
for themselves. This getting to gold basis
is very painful process for every business
man who does not deal in money exclusively
and is not of the creditor class. This con-
slant lowering of prices is ruinous. 1t de-
presses all energy, kills all enterprise, de-
stroys confidence and hope. If we buy any
thing this week, we are sorry we did not wait
until next week. We do not dare to make
anything ahead or buy anything ahead of i'm
mediate wants. We shall be compelled to
continually reduce wages. Let us have a
financial policy which will reverse these con-
ditions and bring employment, happiness,
prosperity to all our people. Let us above all
be true Americans and brave enough to have
an American system in finance and trade.
We can restore all our former prosperity,
inaugurate an era which will remain coutinu-
ously in which our prosperity will be greater
than ever before. We were strong enough
in 1776 to have an American policy; strong
enough in 1872; and today. as the strongest
nation on earth, are certainly strong enough
te have one now.