The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-08-10
HISTORY AND GOLD BUGS.

The position Of the gold advocates has
hardly ever been shown up in so ridicu-
lous light as has been done by writer
in the Chicago Inter Ocean. In discuss
ing the proposition that in the event Of
opening our minis to the free and unlim
tied coinage of silver all the gold would
leave the country he says:
Both Mr. Horr and Mr.. Harvey say
there are 81 ,6000J0,O00 in circulation in
the United States, about $600,000,0O0 be-
ing silver and $1,000, 900, 900 in all other
kinds of money, with gold as its base.
Mr.. Horn says there ia $4,000, 100000 of
silver in existence available for money.
All the gold standard advocates say
that should the United States adopt the
policy of independent free and unIimit-
ed coinage of silver, we would lose all
the gold and gain all the silver, so the
transaction would result thus: Gain, &c.,
O00.00O,000; loss, 100000, 900; net gain,
$5,OOO,O 100000.
Mr.. Horr and many other gold stand
ard advocates say that silver would then
be worth so cents on the dollar, so we
would have $2,50O,OO0,000; we now
have 81, 00,00O,0O0; net gain, $780, OO,-
0OO
The indianapolis Journal some time
under free coinage conditions silver
would be worth 81 cents on the dollar.
If that is correct the United States would
be 81, 400, 100000 the gamer by adopting
that policy.
By what process of reasoning they
reach conclusions or what data they
have for establishing the value of silver
they do not disclose. When known it
will probably be found to be a new dis
covery. 1t is not Patrick Henry's meth
cd. He "knew of no method of judging
of the future but by the past"
If the figures have given are correct
and they are based on statements made
by MI Horr and other gold standard
champions, and if, as all admit, 80 per
cent of our commercial transactions are
among ourselves, why need there be so
much worry about the 50-cent silver dol
lar?
We all as Republicans land Mr.. Horn
is included, though he is not in harmony
with the party's policy on the currency
question: expect the party to be placed
in control again in 1896, when we shall
return to the policy which will result in
balance of trade in our favor of $500,
100000 a year. This will be paid in gold,
we nave nothing but gold, we have all
silver The 100000, 900, together with
the $40,000,O0O we produce annually, will
pay interest on our debts to foreigners,
/ who will not take silver, and if occasion
ally some OF the bondholders should de-
mand REDEEM ption We could afford to sell
some of our silver at 50 cents and posi-
! bly, 50 cents on the dollar and raise the
god for them. We want to bear in
mind that We would have all the silver,
| the production of which amounts to about
! $2OU,OJ0, 900 annually.
do not attempt to explain how We are
going to get all the silver, but simply
take the statement of the gold-standa ard
men that under a free coinage act all the
silver in the world would be dumped
upon us. Am also accepting their as
sertion as true that we would lose all the
gold and that silver would be worth on
ly so or 80 cents on the dollar.
History seems to disprove their as
sertions, but history may be wrong anC
the goldites may be right.