Pine Bluff daily graphic., 1894-10-05
10 OHIO DEMOCRATS.
An Address Sent Out by the
 Executive Committee.
IT HAS A DECIDED SILVER RING


 Writton by A. ". Thurman-It AL leges the Dem oraIization of Business Was caased by Upholding Gold and Putting Away Silver.
 COLUMBUS, Oct. 5.-The Democratic state executive committee, of which A. ". Thurman Is president and W. A. Taylor is secretary, issued yesterday an address to voters of Ohio to the effect that tariff reform has won and ths money questionis now the supreme is. sue before tho country. The address contains about 3400 words, and is un- derstood to have been prepared by Thur. man. It says among other things;
 Prior to the demonstration of silver in 1873 gold and silver was standard money. Since then it has been gold. The supply was cut in two. Could any result, other than the continuous fall iH prices we have experienced for 20 years, follow th9 adoption of this policyF All business men have been looking for the  cause of this continual decline. All sorts of insufficient and contradictory causes have been assigned. It must have origin and development in soma principle of universal application.
 In silver countries prices have re- mained stable. In gold countries prices have fallen 40 to 50 per cent. Silver is the standard of value of more than half of the world. A general de- cline in prices have been brought about hy the shrinkage in volume of money relative to population and busi ness. If the yalue of money in circulation be made to bear direct and steady ratio to population and business, prices will be maintain at a steady level and, what is of supreme importance, money will change but little in value.
 Every money commission appointed by different governments have said, be- yond any doubt, that during the last % years gold has continually and steadily appreciated in value, and this appreei- ation has been the real cause of the tre- mendous fall in prices and great fnan- cial disturbance.
 There has been no overproduction in silver. because 400 years prior to 1873, the relative production of gold and sil- yer was not quite 15 silver to l of gold, and for the 20 years since 1873, 1t has not exceeded 16 to 1.
 The free coinage of silver does not mean any sudden imitation and sudden disturbance of values. This is so be. cause it is an utter impossibility to pro- duce precious metals faster than they ean be absorbed for money purposes. The increase i'll the population of the world for the last 25 years has been 200, ,000, 900. Free coinage is not an ex- pertinent, but as far as a single gold standard has gone it has been a most disastrous one. With the dollar appre- ciating in value, as it IS now doing, thereby causing a decrease in the price of all products, taxpayers are compelled to give moro labor or the products of more labor to obtain these dollars, the only thing with which one can discharge state, county and municipal taxes, all of which are fixed charges. Therefore, to decrease the price of products is to in crease taxes.
 A continued falling market must an- initiate profits, without which all in- dustry must be paralyzed, because money accumulates in money centers, where it is principally used by those who gamble in securities, instead of be- ing used in productive enterprises.
 Moreover, the gold supply of the world has been substantially cornered, as shown in Baron Rothschild's speech at the late monetary conference at Brus- sels. If conditions remain as they are, not only ask yourselves when the de- cline in prices will stop. but how, if money keeps thus approaching in value, is it possible for it to stop. If this policy is not changed, we do not for one moment hesitate absolutely to affirm, no matter whether we have high tariff or low tariff, there cannot be any per manent revival in business affairs.
 Stocks of all kind are now so low we may expect some commercial improve ment, but that it can last for any length of time, if the present monetary condi- ton is maintained, is an absolute impos- sibility.
 FREE SILVER MEN BARRED. Organization of an Exclusive Demo-