The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-05-15
THE MONEY METALS.
THEIR INCREASED SUPPLY NOT
A SOURCE OF DANGER.
The Magnificent Results Which
Have Followed Large Supply
OF Money.
(Philadelphia American.)

The conclusion that demonetization
of silver was necessary because the
supply was excessive must rest upon
proof that the increased volume of
the two precious metals menaced the
world with harm. How can such
proof be supplied? II, throwing the
metal-mOney question completely
aside, well-informed man should be
asked to name the period in which
the civilized nations made the great
est progress in all that contributes to
the enrichment, the enlightenment
and the general uplifting of the peo-
pie, undoubtedly he would designate
the forty years following the discovery
of gold in California. The impetus
given to the forces of high civilization
by the production for the use of man
of that huge mass of money-metal was
remarkable, but it acquired addition
al strength by the subsequent discov-
cry of the silver deposits Of Colorado
and Nevada. These two streams Of
treasure poured out over the world to
bless and to stimulate the industrial
agencies of the human race. After
they had begun to exercise their be-
| nign influence slavery was abolished
| for the first time since history was
written; labor acquired new dignity;
| invention was quickened beyond all
precedent; manufactures multiplied
and expanded; electricity appeared as
a new agency for the service of man;
the productions of machinery were
cheapened; wealth increased many
thousandfold; wages advanced with
out intermisSion: the earth was
covered with railroads and telegraphs;
new lands were opened to productive
Industries, and men everywhere were
SO proftably engaged with the arts Of
peace that great wars became less fre-
Quent than ever before. At this mo-
ment the best guarantee we have Of
the permanence of peace Is not the
existence Of vast armies, making war
more terrible, but the force of public
opinion, born of selfish interests that
the marvelously enlarged commerce
of nations shall not be disturbed and
made unprotitable by hostilities
among peoples who would trade with
one another.
Thus the abundance Of the precious
metals supplies no argument for re.
striction Of their volume. The great
er their volume has been the more
splendid the prosperity of the ma
tions. The proposition that we must
not now enjoy this new beneficience
because we did not possess it seventy
years ago is almost too absurd for dis
cussion. Having so marvellous an in
strument for good. the only wise
thing to do is to use it fully for the
production Of the advantages that IL
may bring. That to employ it in
such manner will do harm has not
been and cannot be demonstrated
The only available facts-thOse sup
piled by the existing worldwide de
pression-show that neglect Of the op
portunity is, as might have been ex
pected, doing harm. The rejection o1
silver, with the result that the world
with its large business, is compelled
to get along with no more metallic
money than it had thirty years ag(
has, indeed, inflicted upon mankinC
irreparable losses. 1t is safe asser
tion that there can never be supply
OF metallic money in excess OF tht
safe and healthful requirements o.
man. The written records Of the race
may be ransacked without the discov
cry Of any instance in which an in
crease of the value of sucn money
failed to improve the condition Of th'
masses of the people.