The Delta independent., 1894-04-04
THE WAR ON SILVER.
Why Great Britain Opposes Silver -
Moncy-It Is . Case of sslish Greed.

Why Great Britain Opposes Silver -
Money-It Is Case of sslfsh Greed.
1t is said that under bimetallic sys-
tenn the country will suffer from the
evils of an inflated currency. This
charge is absolutely without founda-
tion. Probably the principal reason
why gold and silver were selected As
money metals is due to the fact that
their use as n basis of circulation makes
initiation impossible. Nature has inn
posed restrictions and Limitation upon
their production. The enormous de-
mand for gold and its great value dur
ing the last twenty years have stimu-
lated everyone with q desire TO acquire
1t. Notwithstanding this fact its an
nual production has diminished, and
all the efforts Of man have not been
able to hold the annual yield station
nry with that OF forty years ago A de-
crease in the product Of one has always
been accompanied by an increase in the
product of the other. and nature has
thereby made due allowance where
both are used, for we would otherwise
be injured and suffer far-rcaching con-
sequence
But even II imitation were possible
uhacA = oAAhSSoAAAS ~ otShkA, 40 SNiho osC
far less hurtful than those which at
tend period of contraction "A scanty
circulation means falling prices, ruined
industries, bankrupt debtors, the death
of enterprise. the paralysis of trade, .
practical cessation Of commerce. idle
workmen. misery, poverty and starva-
tion.
do not wish TO be understood As ad
vocating an inflated currency. My pur-
pose is only to establish the PROPOSE
tod that with gold and silver imitation
is impossible, but that II VIC must have
imitation or contraction the former is
far preferable to the latter.
am as much opposed TO one sort OF
monomctallism Ms am TO another. !
see practically the same consequences
resulting to the people in either in
stance. and would not knowingly ad-
vocate any proposition the acceptance
OF which would bring about this result
Tho United States produces more gold
md more silver than any other country
In the world, and in proportion more
nearly equal in value than any other.
She has done this for nearly twenty
years Great Britain. on the other
hand, possessing provinces and main
tanning sovereignty over principalitics
In every quarter of the globe. produces.
and for years has produced. much gold
and very little or no silver. She never
fails TO promote her own welfare, and
70 no lcgislatc As TO secure the develop
mcnt of her own resources II our po-
Aitions were reversed and she WAS pro-
ducing our silver, shc would long since
have provided for ita use as money, and
taken active measures TO secure its use
by other nationx In other words, in
stead of lcgislating for US. she would.
ms in other matters. have lcgislatcd for
herself We fear TO rcmonctizc silver
lest she should disapprorc IL She
never would have dcmonetizcd Il, and
especially II her action could have
operated to tho interest Of any other
country.
nm In favor of FREQ coinage OF both
silver and gold ut the rntio Of 10 to !.
! would much prefer. however, II
change must be made, to favor bill
giving the government scigniorags
than TO consent TO any change in tho
ratio, or that there shosild be any
change in the present weight of our
coins II would be better. In my opin-
Ion, IL n change has TO be made, that
the government retain ns seignioragc
the difference between the present
ratio and that hereafter to bc agreed
upon. While Il is true that the scign-
iorngc retained by the government
would be wholly nt the expense OF the
producers OF silver, 50 is any change
increasing tho ratio.
This system. II adopted. would re-
move the fears of those who object to
FREQ coinage on tho ground that the
silver OF all nations would be brought
TO our mints for coinage, rs all silver,
no matter from whence II came, would
he subject TO the same law of tribute
.cigniorngc- say ngain that while l
do not advocate this system, for tho
reason that believe that we should
have free coinage Mt the ratio OF 10 TO
without tribute or assessment, yet I
do prefer II to change In ratio Under
this system thcrc would be no ncccs-
si,y for the rccoinngc OF our silver now
In circulation or that stored In the gov.
crnment vaults II will also obvinte
the expense OF rccoinngc Of silvcr.al-
ready coined, which amounts to very
large sum.-IIon. George l. Shoup
(ldnho), In y. s. Senate.