Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-08-04

49, tANNuN'i"H o. gold more than
thfee times as much as silver. and yst
there was no material variation In ihe
ieiatiNe market value and debt nav
ing power OF the two metals During
an these 81 years silver and gold. the
honest money and sound currency Of
the constitution had free and uniimit-
ca coinage at the mints OF the United
Ssates. IN FEBRUARY, 1873, by an act
OF congress silver was disfrnnchlsed M
money of final redemption. and gold
alone became the single standard OF
Nalue. twenty years later, In 1894.
Mhen the allied powers Of the United
states, England. Germany, Austria
ana other foreign nations treated sill
Ner only as speculative commodity
ana acknowledged allegiance to gold
alone as their sovereign standard Of
Vllue, and when the production OF sill
yer was only one-fourth more than
sold, the commercial ratio was 20 to
L. When silver was recognized as n
standard of value and had equal coin
ase privileges with gold at the mints
or the United States II was worth le-
gally and commercially 81 20 nm
ounce In gold and yet able iinaneiers
ana learned political economists say
mat legislation is impotent to affect
II as standard of value. The worlds
production Of gold is insufficient for
w necessities OF commerce, and the
exempt OF the United States to In
hlst upon trying to make gold perform
the service once performed by silver
ana gold combined, can only result i'm
declining prices, decaying industry,
ana degenerate nationality. The
United States, Austria, Russia and
SPAN all want gold. Spain alone
wants N2OOOOOO Where is 1t all to
come from? The United States Is now
producing annually about one-fourth
or the gold and about one-third OF the
silver of the entire world. our pro-
duction OF gold in 1873 was SO cents per
capita, while 1t is now only 90 cents
per capita"
20 you believe. general that silver
ieglsiatlon In the United States precipl-
the panic Of 1S93?'
Our gold standard friends assert It
was silver legislation that precipItated
the panic in 1898 in the United States,
IT TINS Is true, what produced the
panics in other countries where there
was neither silver production nor sill
Yer legislation What closed the
mines and factories OF England and
made paupers and beggars of hun
dreds Of thousands Of her people? The
London Times Of June O. 1895, in an
editorial on the report of the board OF
trade In regard to strike statistics for
1879 and 1891, states the number OF
strikers IN 1884 was about 100000 In
Great Britain, an Increase Of nearly
100 per cent over 1893. and that of these
strikers about so per cent. went out TO
prevent a reduction OF wages, Further
moro. that In London. the home Of the
single gold standard, there are today
10000 paupers daily fed at the ex-
pense OF the city an Increase OF SO per
cent, over former statistics
AT the international monetary con.
ference at Brussels IN 1892. Mr. Ber-
tram Currie one Of the delegates from
England, said Theoretically. a gold
standard currency like that Of England
may be best, but 1t IS a costly luxury
AT the same international confer
ence Mr.. Rothschlld, also Il delegate
from England, said: II this conference
should adjourn without arriving at any
definite result there will be a deprecia-
tlon in the value OF silver which would
be irlghtful to contemplate, and out
OF which monetary panic would en-
sue, the far spreading effects of which
1t would be impossible to fnretell The
conference did adjourn without results
and the prophecy of Mr. Rothschlld
has been as true MS those OF Moses.
The great army of the unemployed. the
Eaunt hunger OF their wives and chill
dren. their sufferngs and their cries
for bread, rise like a white column in
the sky TO emphasize the prophecy Of
VII iN'AllF'llill anu lit assertion
Mr., Currie that the gold standard in
England has been a costly luxury"
DO you think the contention that the
single gold standard benents the la
borer and wage-earner is sound2"
mo, sir: the assertion that the single
gold standard benefits the laborer and
wage-earner ls speclous During the
panic OF 1898 II was IN gold standard
countries where the storm ragged with
greatest fury. while IN blmetallic
countries prices We're steadier, Indus
trial enterprises were more prosperous
and labor received It's best reward. IL
the modern worklngman Is In the en-
joyment OF such happiness and high
wages the gold standard advocates
assert. then what Is the cause Of the
rapid growth of socialism and pauper-
Ism in all gold standard countries? II
he Is dwelling in the industrial paradise
pictured by the Imagination OF the gold
standard orators, he Is singularly UNI
aware of his happiness"
"The question OF standard Of value
has been very much argued In the sill
yer debates. What is your idea along
this line Of the question:"
ave are told upon high Official au-
thoilty that there cannot be two
standards OF value, nor two standards
of measure The law says that the
yard stick shall be 80 inches long: that
the bushel measure shall contain four
pecks; that the standard OF values
shall be dollars or units and that the
dollar shall contain 4l2.5 grains OF sill
Yer OF 25.S grains of gold. 1t matters
not whether the yard stick be made OF
iron or steel so It Is thirty-slx Inches
long; nor whether the bushel measure
be made of wood or metal so that 1t
contains four pecks; nor does It matter
the dollar or unit of value con-
tains 25,S grains Of gold or 412,5 grains
OF silver 1t Ia equally the standard of
value made so by legislation. and not
by international agreement. With the
bimetalllc standard our currency
would be based up on the wealth Of the
while the single standard Is
now based upon our debts. and can only
be maintained by the issuance OF bonds.
as II Is well known to every intelligent
citizen that three times within the past
eighteen months the secretary OF the
has sold bonds of the United
States to maintain its gold stock. The
operations OF the syndicate negotiating
the sale Of the last bonds are about
completed. and already the withdrawal
OF gold from the treasury and Its eN-
portatlon to Europe has commenced.
II Is a reproach to our government
and should be humiliatlng TO every
American citizen that u could be possi-
bic for individuals or syndicates to de-
plete our treasury and precipitate a
NOR panic by assaults upon Its re-