Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-06-30

par would mean coin of over double |
It's present size; and as during the
last twenty years. silver has depre-
ciated In value over 5J' per cent at no |
distant date II fiuctuation continued |
equalize.
Just before the Barring Bros failed |
recoinage would be necessary to again |
the comptroller's report showed that |
the New York banks were millions of |
dollars short of the stipulated reserve
amount. Where was the money! 1t
was out doing duty among the people.
and their enterprises. but when the
crash came securities were sacrificed.
liquidation was forced. and capital
went hurrylng to place OF safety.
Where has It been since2 In the vaults
of the capitalists. Why? Because OF
a lack OF confidence 1892 was the
greatest crop year this country has
ever seen and yet We had an album
dance Of money to handle It, and that
is the greatest test Of the money sup
ply; for large percentage OF the
money paid for crops goes In cash into
the hands OF the farmer, instead OF
along the beaten lines of commerce in
the shape Of exchange usual in ordin-
airy business, During the recent hard
times the banks of New York and all
the great money marts OF the country
We're filled with cpsh, but the people
could not get 1t for lack of confidence
in their ability to pay when due. and
exchange based on credit DO we want
of that condition OF affairs to work
trying TO convince them that we want
more money and to get that We must
have free and unlimited coinage OF sill
yer at the ratio of l6 to /.
over 80 per cent of our Wholesale and
over so per cent of our retail business
is transacted without the aid OF sin
gle dollar In cash but by a system OF
exchange based on credit. De we want
that by unsettling the reliance men
| have In one another and In the gov
| eminent? There is not enough money
coined In the world to transact the
business OF the United States on an
absolutely cash basis. so we had better
| look 60 the preservation OF our credit,
rather than It's destruction. What the
| laborer wants Is to receive in compen-
sation for his toll money worth It's
| face value, either in. purchasing or debt
paying power. The merchant wants II
money with which he can satisfy his
creditors, either foreign or domestic
without discount Of the liquidating me-
| dium. What the country wants is to
be assured that everything issuing
from the government In the shape of
money, let it be gold silver or paper,
shall have the power to discharge an
| obligation equal to It's full face value,
we must maintain the integrity OF the
| government issue OF money by adher-
ing to such rules as prelude the possl-
billty Of depreciation, which means
that we must resist the free and I'M
limited coinage of silver In order to
preserve par medium of general eN-
change and commercial equilibrium.
Free and unlimited coinage of silver
means that this country would be sill
yer standard country; that this coun-
try would be deluged with coin bearing
the stamp of the United States gov
al. Ita co. IN. "a
worth one hundred cents, when in
reality 1t would be worth Just what the
metal In II was worth as bullion. which
fluctuations like the price OF wheat,
corn or cotton. depends upon supply
and demand, as 1t is simple product
or commodity. The bullion value OF
the metal in an American gold dollar
is one hundred cents either coined or
uncoined, In this country or any other
on the globe, while the bullion value
of the metal in an American silver
dollar uncolned Is about AZ cents the
world over. This debased currency
would predominant in circulation for
the reason that there are no
bi-metallIc countries, All coun-
tries are either on gold or silver
basis, and whenever free and unlimited
coinage. silver prevails, there VIII
YOU find a silver standard country.
The theories of the bi-metalllst do not
| work out, LOT luty lHNhIldbl9 ltoAlN
in recommendation; the cheaper money
remaining in circulation and the dearer
money retiring which would mean the
retirement Of over six hundred million
dollars Of gold circulation, loss that
could not be repaired by the introduce
tion of any amount Of deprecated
medium, such as silver under those
circumstances would be; again, when
ever you see free and unlimited coin-
age of silver country there you VIII
see labor scantily paid: the poor very
poor and subservient and the rich very
rich and dictatorial, therefore 1t is or
vital Importance to the laporer to pre-
serve to our circulating medium une
greatest measure of purchasing ana
tlebt-paying power; and indeed this Is
true of every American citizen regard
less OF vocation. Free coinage OF sll-
YER at the ratio OF 10 to 1 can only
result benefcially to the owner or OPP
|, ator of silver mines by creating an
Increased demand for his product, and
to the owner OF boarded gold for at
once the value and strength or IL be-
comes enhanced.
This movement in favor OF free sill
yer is said to be free from Interior mo-
tive. The friends OF II can at any
time be thrown into dangerous state
of nervous excitement, strongly reseIh-
bling hydrophobla at the mere mention
of gold. They abhor gold and love sill
yer for sllver's sake. Let us look az
the situation a moment. AT present
we have more silver than we can get
inio circulation. Today silver dollar
will buy the same amount Of any com
modify we have that gold dollar VIII,
II commands equal respect in business
circles. although not Of the same IN
trlnsic value what moro can be ask
ed for silver? II has reached the acme
Of IFS power; We have more money pei
carita than we ever had before and
don't need any more Now II TINS Is
not a movement originating with the
silver mine owners and the politicians
lei this question be answered. IL Tree
and unlimited coinage OF silver at the
ratio OF 16 to ! comes in vogue, VIII
the silver dollar containing 90 cents
worth OF silver buy as much as gold
dollar? AS you in all candor are bound
10 answer no. Then does silver mol
suffer by the transaction as 1t Is now
az the one hundred cents yeluel II
silver dollars decrease In value. ther
although gold dollars do not appre,
ciate. vet the disparity in favor OF koiu
strenethens It, So that the result o.
free silver means the strengthening OF
cotd and the weakening OF silver. IN
ethe- words the commodity the silver
men despise is benefited, ana the nieta
they are labor!ng for loses US pury s a.,
, ing power, although by reason OF ll
. craased demand VIII create a marksl
for the miners products, ana possin,,y
strengthen the price Of the ore ntti'
in the consequent activity. NOW ~,