The oasis., 1894-05-31
 Thursday, May 3I, 1894.
Silver Necessary.
ores N Metals.


 merce, who made very forcfble ad-
 dress before that body last spring
 against the repeal of the Sherman
 purchasing act, in a recent interview
 strongly favors return to- bimetallic
 standard. He said T am satisfied, as
 was when the cry for repeal was the
 loudest, that adherence to monome-
 tallic standard of currency vii crush
 the debtor class out of existence It
 is the debtor that carries on the
 worlds business, and whenever condi-
 tions as they now are the worlds busi-
 ness will languish. Almost the entire
 civilized world is today trying to do
 business with gold alone, and the re-
 suit is world wide depression.
 s'It is not the moneyed man who
 takes risks. It is the man whose
 wealth is yet to be won; who, with
 splendid pluck and nerve, risks every
 thing and assumes heavy obligations in order that he may prosecute the enterprises that result in material pro gress and improvement. Now, if we have for the basis of our currency metal that is constantly diminishing in quantity and increasing in price, as gold certainly is, the man who becomes a debtor today in the sum of s20,00O may have to meet his obligation when 1t falls due, some years from now, with the equivalent of 10000, and he may find it impossible to pay at all, in which case, of course, he will be wiped out. Gold is now at premium, though some gold monometallists deny it. To say that prices have been steadi- ly going down is only another way of saying that gold had been going up. The adoption of gold standard by all the strongest nations of the earth, and that has already been done, willinfali- bly, tend to still further enhance the value of the yellow metal, and a series of periodical crashes is sure to follow unless a change of financial policy be made. More money is needed each year with which to do the worlds work, and some means have got to be devised to do it. l am in favor of the adoption of q bimetallic standard for that purpose. and believe the whole world will be obliged to come around to that view of this matter.
 'The commercial demand for gold is growing enormously each year, and this, of course, puts up the price Of the metal. In 1860 the total amount Of money in the world was about 8, ,9O0,- 1 0O0,000. In 1890 1t was la.000, GOO. 600, one third paper, one thie.I ilger, one third gold. Stop moment md think ! what that means. The amount Of money accumulated in all time pre yious to 1860 has been more than du- plicated in the thirty years that have | elapsed since then. The entire history | of the world does not record any other period of such rapid materiaI, scientific and intellectual development of steam communication both on sea and land, the growth of popular culture, the modern home. It may well be call ed the age of machinery. All this re quired an unprecedented augmen tation of the worlds currency. In round numbers fhp vaarlv incroaco since 1860 has been 200,090,0OO. The total annual output of gold is only slO0, ,OOO, 900 and of that amount from s5O, GOO, 900 to S10,00o,0 GOO q year is ab- ,orbed in the manufactures and the lrts. Now, should like to know how .he S200, 0o0.O00 of currency needed yearly to keep up the progress of the world can be got out of the s30, ,00O, 600