Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-05-01

our Indebtedness to foreign countries.
we should pursue a policy which would
pay on our present Indebtedness, and
mako other countries our debtors In
stead OF allowing them 10 be our cred
itors.
Another OF the scare crows which is
used to frlghten the friends OF the silver
coinage is the statement that n we
adopt free and unlimited coinage all
the silver OF other countries will be
brought here and dumped on us, the
gold driven out OF the country and our
country made a single silver standard
country. such an argument Is not now
used except among those too iguoraAt
to know what they are talking about
II all the gold and silver IN the world
could be utilized as mOhey there ia
not enough OF II 20 meet the needs
OF the worlds commerce, which is an
nually increasing, while the produc-
tion Of the gold ana silver OF the world
~ decreasing. Where Is this silver to
come from? What country can spare
III And how IN IL to get here? There
is at this time more than one billion
dollars IN silver IN circulation In Eu-
rope, and every dollar of II is at par
with gold. at the ratio OF 10 i-2 to I.
The dollar there, TO use our denomlna-
tlon, Is worth about three cents less
than our dollar which Ia as i6 TO /. be-
NfhA'N w AAllh hAAlAAAAlAt III nun IL
therefore, the owners OF silver there
should bring their Mlvcr here TO eN-
change 1t FOR gold they would lose
cents on the dollar. Then thorc would
be the expense OF getting the silver
together IN that country the cost OF
freight and insurance TO this country
the cost OF exchange here. the cost OF
freight and Insurance back to that
country and the cost Of ro-coinlng
Able tuancicra estimate that these eN-
pcnsea would amount TO u or 10 per
conf What man uf sense would make
such a sacrifice? And why should II be
made? Money only goes whore II Is
10 be used In buying other things. II II
should COME TO this country II would be
brought here TO buy our products.
void improve our markets and bcnedt
out people. But why discuss the impos-
sibleY The governments OF Europe
control but "A small amount of their
coin money II Is In the hands OF the
people; and II II were possible TO take
this money from them II would pro-
ducc general panic, cause strikes
everywhere. ana In all probability
revolution. This View ia too absurd to
be talked about,
That we may the more fully realize
what IL the effect OF doing away with
silver as "A part of the standard money
which measures an values. 1t should
he remembered that 1t constitutes about
onc-hulf Of the metal money OF the
world. The principal part OF tile
worlds present indebtedness was IN
CURED when tho guId and silver of The
world measured the value OF property
That II IL now proposed to pay that
indebtedness when gold alone measures
the Nnlue OF aH property and when
property u only worth hnlf as much
as when the debts were created. The
CouauH on tho limited Station for fCQO
shows mat the national debts OF the
principal nations mot municipal, cor
poratc or private dehtsl amounted to
SsS,VV0OoOopO. II would now require as
inuch property OF as much OF the pro-
uucH oi lhpor TO pay mat debt as
would nave been required to pay $780,,
oOWoQOOOO Whcn both gold aud silver
measured values, Loss than two years
ago IL was shown by Poors' Manual that
the debts Of the corporations OF the
United states amounted to $l5000,O0O,-
0eO This did not cover the vast volume
OF private indebtedness ana II would
now require ns mueh property and
labor 70 pay II na would have paid
STANDARDIZATION OF debt IN lht3i when Bill
yer waH demoncu1cd. The bonded In
debledneaS or tho railroads OF the Unit
ca htNtts on the dlst OF Decnmher 1928.
as shown ny PoorH Manual OF Rail-
fonus Tor le9i' was No'hlO'22ah2s the
most OF Which ~ owned In Europe. IL
would now, nt gold prices, require as
much property to pny this sum ms
would have paid n debt Of $1,000 100000
In 1873
The gold standard policy now REQUIRE
that all these debts and an other In
debtednpsa. public and private. shall he
paid in gold. that ~ that gold ghnil be
the only lawful tender money. This
makes the payment OF the Indebtedness
OF the world an impossiblllty. aud must |
OF necessity cause general bankruptcy. |
And II this single gold standard policy |
shall be persisted IN. besides paralyz- |
ing all Industries, aud bringing nnnn- |