Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-04-25
HE TALKS OF SILVER.
SENATOR ALLISON ON THE
CAUSE or DEPRECIATION.
Believes the Action 1873 Was q Mis-
take-E1 plains why Il Was Taken.
Money Legislation Abroad-Amount
Of silver In Clrculot1Onse aaaaas


Seu0eOr AlIlO00 WIS "O1uqueU90 on TIE
Travelling Mems Republican Clab of Mar
shalltown, and spoke at length Upon the
silver question. A8
In opening his address Senator Allison,
said: @&
II have no doubt tlsSt finance is a IA
miliar topic to You. and il cert1lnly il to
me. have seen more bills. received
more pamphlets, and readsmQre upon this
subject during the last year than ever be-
fore You can all see that-to use
familiar expression-there is 40 screw
loose somewhere, for we have seen our
country pass ia two or two a1a half
years from condition of prosperity to
one of panic and distress. Wsaare told
we have come to this situation solely L.-
cause of the condition of one. Of the pre-
cious metals. and realize that there 10
no more important question than tina, Of
the money we use" A.
He added that gold and silver Wcrc pre-
cious metals because Of their dlvisibility
and their non-destructiblity. .Hefcfcrred
to the fact that gold and silverswerc for
thousands of years the money of the
world. and rapidly sketched tn history
of the mining of these precious metals
and the effect Of their output as iSduenced
by wars upon the stock Of gold and silver
in the world. He continues:
1T is said that I'M 1879 theresTas less
than $1,000. 100000 of gold in the world.
From 1850 to 1876 there was produced in
the world of gold within about $4O0NM.-
GOO of the amount produced from 14:H to
1850. During the 800 years prior, to 1850
there was produced about $7,OO0,O0O. 600
of silver. but during the twenty &c years
ending 1876 there was produced nearly
three times as much gold as silver.
1T is claimed that in 1873 silv1r began
its downward course, and that twas due
to the action of NE people by Their repre-
sentatives in Congress. 1t wNsaDelievptl
by many that this enormous increase in.
gold would 60 on from year to YEAR For
fourteen years. during the enorlnous in
aux of gold, the gold only passed through
our country to those lands WHARF gold
and silver were the measure Of value.
We had then suspended specie payments,
and for these fourteen years weSWere On
a paper basis, and therefore it,was that it
was claimed on account of the enormous
production of gold that gold and silver
could never again be a measure Of value.
However. during this time silver IND gold
marched side by side at ratio Of about
1919 to L. ~
The speaker then referred to thcposi,ion
of the German States. They adopted the
silver standard. France had the, double
standard. In 1866 the States surround
ing France agreed upon dotli3e stand
ard. Thus there were in Enrepc two
international agreements. The FIRST in
ternatiOnal monetary conference held in
Paris after the Paris Exposition WAS re-
ferred to and its final decision on an in
ternational gold coin. They recommend
to all the countries that that coin IF the
value of 50 should be adopted mail conn
tries. That proposition was presented 10
Congress, but was never acted ul,on by
either house.
After this came the FrancoPrus>ian
war. The unification of the German En-
pre- and the reformation and .Intficat;nn
OF the coin of that empire folloMed. and
1t was decreed that the Germa,i Empire
should have a common coin andaIh a, it
should be gold. 1t has been claimed That
we were the first to deal with silscr. hut
Germany adopted n single gold sfan,lard
in 1871. The reason that the isoncy cf
the Bank of France fell but a little over
per cent. discount while Fr;lnc" WAS
by desolation was becasse their
paper money was limited"
Cessation Of Free Coinnsrp.
The speaker then referred to The ccssa-
ton OF free coinage of silver inn Shc vari-
Gus mlnts of Europe. and said itawas the
diffusion of both metals throughsa.urope
that Kept them ut a parity. .a.
1T is said in 1873 we sleunpnetfye, sill
yer. 1t is true that at that time VIC chang
ca the laws of our. mints AID Established
gold as standard of value. believe
now that it was a mistake for Europe
and for us to have changed theoe stand
ards. But for twelve years prior 10 1879
we were on paper basis and it was not
looked upon by our people as IN important
feature. No action of ours in 1873 af-
1ected the price of silver or affected, the
action OF Europe in dealing with silver.
Inc effect of our action is claimed to
nave been to reduce tho price of all COM
modlties and appreciate gold in the same
measure that silver was deprecated. 1
don't believe it. Since 1873 some prices
have been reduced and some advanced.
Gold and silver until put in sl,npc Of
money were commodities and are gov
erned by the laws of supply and demand:
ana just that thing happened Is silver
ana gold rs happened under these laws
to other commodities. In every. country
OF Europe in 1873 the mint was Omen to
silver, and in 1877 not single mint IN
Europe was open to silver except for
fractional coins. We were then upon n
paper basis, and could exert no influence
upon supply and demands From that
time the supply of silver increas ed. and
with an increased supply and no demand
IN Europe it was the most natural thing
IN the world that silver should depreci-
ate.
The amount Of silver il circulation in
1854 IN Europe, where a gold standard
has taken the place of double standard
Is l,'Soo millions, and there are now in
circulation in the United States Coz mil.
lions, while in 1873 we had not a cent
And still they claim we 'demonetized sill
yer. How can we demonetize silver when
we put 1t in circulation to that extent in
twenty-five years, and this silver nasses
current with gold?"
Physiol0gical.t
The fbers Of the brain average ten
part OF. an inch in diam.
eter. ss4a.U4
The glands of the ear which ao.roto