Evening journal., 1895-07-02
The silver bubble.

Anr silver nuNuAet
There is every indication that with
the return OF more prosperous times the
silver bubble will burst. Outside of the
mine owners and spectators in silver
there are not great many people who
have been seriously afflicted with the
silver craze. II has been an attempt 20
introduce fat money, based on silver
rather than paper, putty or anything
else that does not possess a standard
money valus. Silver is worth something,
so is putty, and the latter has relative
gold value, as well as has the white
metal
Because silver once possessed
much greater relative value to gold
than It now does Is no more
reason why the United States should
undertake to keep up that value
than why it should undertake to keep up
the value Of putty, cotton OF wheat
There must be some standard Ia order to
have a currency with as little variation
as possible throughout the world, and
gold not only Is that standard, but is
likely to remain so for generations to
come. Suppose the United States
Government should disregard the rest
Of the world and make silver its money
stsndsrd2 II silver could be depended
upon to remain fixed at any one valua-
tion It might not lead to very serious
results, but this is ust the thing that IL
cannot be depended upon to do.
suppose the government should coin
silver dollar containing dollars worth
of gold and make that a legal money
standard. This would work very well II
the white metal could be depended upon
TO retain its relative value. But this We
all know it would not do; besides this ls
not what those who are so anxious for
silver coinage want the government to
do. There would be little gained by the
mine-owners and the spectators If such
an honest scheme as this was carried out
They could make nothing out Of It until
silver again deprecated and a silver
dollar became of less value than goid
dollar.
No what they want Is for the govern
ment to guarantee that say, fifty cents
worth Of silver stamped at the United
States mlnts shall be worth a dollar IL
does not take very serious thought 10 see
that If this were done someone would be
the loser. 1t would be just as wise and
just as fair for the government to say
that every bushel OF wheas should b
worth two dollars Such a plsn as this
latter would play into the hands Of the
farmers, and why, Il any class Of people
are to be selected to receive such
mighty bounty from the government
would not the honest tiller Of the soil
have as good right to It as the people
who own silver mines
Silver Is product from the soil ,or
mines); 80 Is wheat. corn, potatoes and
hosts Of other things. Then why single
out silver and make the whole country
pay tribute TO those engaged Ia the
white metal Industry This IS the prac
ticAl way to look at It. Divest the oues-
tion Of all false theories such as have
been applied from time to time to paper
and everything else that eovernmeats
have found It convenient and to their
interest to use as money, and observe the
fact that, whatever this country does or
could do, without an international BIZ
metallic agreement with the rest Of the
civilized world the standard Of money
viii continue to be gold.
We might, liFe the Spartsns Of old
declare silver, as they did iron. to be
money standard, but Ike them, we
should soon fad that our money Was
useless abroad and despiaed at home.