The comet. (Johnson City, Tenn.) 1884-1916, 1895-10-17

GUM, Denmark, Holland, Norway, Swed-
en- Spain, Portugal, Italy, Switzerland,
Austro-Ilungary. Servia. Greece, Bulga-
ria, Egypt Turkey Australia, Canada,
Cuba, Brazil and Chilli OF these Aus
tro-Hungary, Russia, Brazil and Chilli
have very recently gone to the gold
standard
Here are the silver standard countries;
China, Japan, India, what are known as
"rhe Straits the Central American
States, the South American republics
other than Brazil and Chilli, and the
scmi-ciyil2ed nations of Africa.
You will see from the enumeration that
there is not one silver standard country
on the globe which could be clussed as
a prosperous, enlightened and progressive
country. All the enlightened countries
have suspended the free coinage of silver,
and adhere to the gold standard, If we
should abandon it we would take step
backward. 1t seems to me that the Dem
ocrats of Tennessee would prefer to stand
with the progressive Christian countries
of the world, rather than with the silver
standard countries | have named
The fact cannot be disguised that as
civilization advances the preference for
gold has been everywhere manifested
throughout the world. 1t is an evolution
giving expression to the choice of enlght-
encd mankind for the best money attain
able.
Gold Standard Countries Use silver.
You must always bear in mind that the
friends of the gold standard have
no purpose of denying the use
of silver as money, They only
object to its use independently
by the United States as standard money.
They believe that it may, and they insist
that it shall, occupy an important place
in our monetary system, but place sub
ordinate to gold, They believe with Jack
son, Calhoun and Benton, that gold
should be the preferred money.
Having given you a list of the gold
and silver standard countries, | now call
your attention to another important fact,
and it is that all gold countries largely
use silver as money; whereas, silver
standard countries do not use gold at all
in their circulation. The truth is that
the gold standard countries use more sill
standard countries, Notwithstanding the
latter have more population than the for
mer. l do not mean by this that there
is no gold whatever in silver standard
countries; but | do mean it is not used
as circulating medium. There was gold
hidden away during the war in Tennes-
see, but it was not used as money when
it was at Il premium, compared with de-
preciated paper money.
How do you account for this condition
of affairs? Does it not grow out of the
preference given by the world for what
lit esteems the better money? We use
copper and nickel for /, and 5-cent
pieces in subordinaton to silver, just as
we use silver i'll subordination to gold.
As silver would not circulate in copper
standard country in subordination to cop
per SO neither will gold circulate as sub
sidiury money in Il silver standard coun-
try. In each case the better money would
be boarded, and would retire from circu-
lation; men would always keep it and
hoard it as treasure and use the cheaper
p money, just as they used Confederate
{ money and boarded gold during the war
silver Standard Would Exclude Gold.
r Therefore if we pass an act for the
} free and unlimited coinage of silver at
r the ratio of 16 to l it means the estab-
= lishment of n silver standard and the
' immediate exclusion of gold from our
= country While it may have the effect to
give us dollars of less purchasing power,
/ it will give fewer of them. We now
t have. according to the best estimates,
{ about $G00000,000 of gold in circulation,
+ and free coinage means the loss to the
e country of all this gold in the form of
n money. 1t will be boarded at once, and
1 either kept as treasure or sold to foreign
countries, for no man would use it as
! money when he could use something else
= only half as valuable.
e Gold Insures 81 Larger Per Capita.
= There is another lesson to be learned
, The advocates of free coinage are always
t insisting on larger volume of money
$ and our Populist friends not only adyo.
e cate free coinage, but they insist that the
n government should provide the people
;. with at least $50 per capita.
! 1t may seem singular, but it is never
d theless true, that invariably the goC
r standard countries have the larger circu
laton. France, the United States, En-
gland and Germany, in the order named
|, have a larger circulation than the other
II countries, and they all have the golC
r standard. / have made careful inves
is tigation of the matter, and | have no
n been able to find any silver STANDARD
e country which has a per capita circula
t. ton exceeding So. The United States
he and Mexico are adjacent American re
publics. | think am safe in saying tina
n the United States is the most prosper0u
Il. gold standard country in the world, AM
lie that Mexico is the most prosperous silye
e, standard country. A recent comparison
re shows that Mexico has only As cents pc
r capita in gold, which does not circulate
r II cents in paper, and S4,3l in silver
lie making u total per capita circulation 0
" $491: whereas, the United States ha
I'd SOL i'll gold, $9.1S in silver, and $6,15 il
y. paper making Il tote per capita circula
ar ton of S24,34. How do you account TO
I'd this significant and important fact? !
lis shows, in my judgment, concusively tina
IS, the volume of money follows always
to large volume of business.
SIX The idea that money precedes prosper
If ty is a mistake; but wherever prosperit
ar sets in there money Immediately goes
v, When the conditions are favorable for ii
Id yestments money will be Forthcoming
f. and when they are unfayorable it will rt
IL main away. A good and fruitful so
ne TILED by industrious and thrifty farmer,
ed who diversity their crops and make yea
by year Il surplus Of products will pr,
nd sent a condition of affairs which will invit
es investments in that community; none