The herald., 1895-05-10
a mayor for Los Angeles who had only
been in one ward?

mayor for Los Angeles who had only
been in one ward?
The people must not be chided because
people are absorbers and not producers,
and it needs no extended argument to
show that something is needed in the
body polite, economic and social. Mr..
Sibley here referred to that chapter in
Daniel in whic the making and wor-
Shipping Of the golden image is related,
and he drew a comparison between that
image and the one that is now set up be-
fore the people which almost everybody
bows down to. Now friends, what shall
we do, continued the speaker. see in
your faces an intelligence that tells me
all who are not bimetallists already, will
be when they are educated. Adam Smith
wrote twenty-five years ago what John
Locke wrote 300 years ago and many
others have written that the volume of
money. coupled with the extent of popu-
laton equals the value of the product. l
have four automatic truths in respect to
this point as follows:
I'D oube the money, you double the
prices. Divide the money divide the
prices"
Double the money, you divide the
debts. Divide the money, double the
debts.
The speaker then made an illustration
of two inverted pyramids, one of gold
and another of silver: the foundation
would be none too stable with both met
ais and valuations must shrink until all
will stand on as firm basis as they used
to before the present status. Several
other illustrations were made of this
point; and then Ernest Seid was quoted
as saying in an article, LET no nation
think. because England can maintain a
gold standard, let no one else think they
can do it, for disasters, losses. bankrupt
cies, failures would follow"
Every argument now made against sill
yer was used against gold in 1857. Now
people are afraid that silver will be too
plentiful. There are 400, 900 unemployed
men seeking an opportunity to earn bread
by the sweat of their brows. men with
women and children dependent upon
them. Values are said to have fallen to
the extent OF or N percent Where in
the east can you borrow money on your
farms? What. in reality is man receiv-
lllS WIZ IHOIcy db U pei CCut.
The troubles that confront the people
today are not unexpected and here Mr..
Sibley read number of eXtrasts from
Carlisle to clinch his points. that were
written before Carlisle's eyes were
blinded by mammon. and he could
think like an archangel." California
stands at the gateway OF the world, and
what have we done?
This question is regarded sometimes as
too abstruse and deep for the average
comprehension, yet the farmers of the
nation are seeing it. 1t is not too deep
for the artisan and mechanic. The
wheat, corn, beef, and the legitimate pro-
ducts of mother earth. the ton of pig
iron, all the products of industry have
maintained their parity in exact ratio
with the ounce of silver. | want to
show you. if possible. how much greater
interest the farmer has than the mine
owner. If the United States produces all
the silver, the mine owners total pro.
duction would bear not tithe of the pro-
portion of loss that is sustained each
year by the American agriculturlst. The
ounce of silver bullion has been the meas
ure Of the value of the bushtl of wheat
for the past twenty ye:r'. Up to 1874. af-
ter we had demonetized silver, India
HAD never exported wheat. She could