The Irish standard., 1895-06-15
FACTS ABOUT | SILVER | | |. R

FACTS ABOUT SILVER s. |. R
Prof. Robt. Ellis Thompson Throws
Light On the Honey Question.
ST In asletter to the Irish World Of last
week, Prof. Robt. Ellis Thompson gives
the following interesting facts about sill
yer: sS4g s!t 3at5
i. 1t is a fact that honest and honor
able men, as jealous for the good name
Of the country as any champion Of the
gold standard can be, believe in silver.
Such are President Walker, of the Boston
Psychological Institute; President An
drews, OF Brown University; Josiah
Quincy, OF Massachusetts, and might
add scores of Others as good. These men
believe in the necessity of getting rid Of
the gold standard and getting back to
bimetallism, if our producers and those
ofsother countries are not to be ruined,
They believe that such q return is posi-
Bile without any dishonesty on the part
of the United States government, or any
body else. In this belief they are sus-
tanned by. great host of men equally
honorable and honest on the other side
of the Atlantic. Toidentify gold mono
metallism with financial honesty is a
piece Of astounding ilnpudence.
Q. 1t is a fact that neither gold nor sill
yer possesses a fixed value, and that both
have been falling in value through all the
recent ages of history, down to the intro
duction of monometallism into the MON
etary policy of Europe and America.
Thus. between 1892 and 1892, according
to Humboldt, they fell together to about
a twelfth of what they had been. #
3. 1t is a fact that it was just this pro-
gressive fall in value which fitted these
metals for use as money. If they hada re-
manned always as valuable as In l492,
while everything else fell, this would
have made the debts of the world more
burdensome and harder to be rid of. BY
this time the money owners and money
lenders would have had the earth. But
a coinage made Of metals which fall in
value with other things secures to the
creditor a fair return for his loan. It
repays him, with interest, the share OF
the worlds good which he originally
loaned, instead. of increasing that share
at rate which represents the worlc's
progress in the mean time. &
4. It is a fact that the revolutionary
policy called gold recommendation has re-
Yersed this condition which fits gold for
use as coin. BY driving out silver and
thus creating an abnormal demand for
gold, this policy has not merely checked
the natural fall in the value of gold,
which always has been going forward.
but actually has forced it to rise in
valAe,. as is. seen by the present prices
of articles, such as wheat, which are
really scarce, but have fallen in value
instead ofsrising. Thus, the gold mono
metallism provides that the progress of
the world shall inure to the benefit Of
the creditor class alone, and that the
producers shall not profit even by &
specially strong demand for their pro-
ducts.
S. It is a fact that there was no real
necessity for the demonstration Of sill
yer because of any excess in the supply
of that metal. MIR. Mulhall shows that
there actually was relatively far less sill
yer in use as coin, or available for coin
age, than is now. At one time with sill
yer steady at the ratio of to 1916, there
were forty -eight tons Of silver to one OF
gold. Now, with the market ratio at, 1
to 80. there are but eighteen tons of sill
yer to one of gold The fall Of silver,
therefore, as compared with gold, Is due
not to excessive supply, but to dimin-
ished demand, and as the demand for
silver in the arts has grown, the only
a hoo Saao ~ dom N ofiZQ~
ton. "a
6. It is a fact that from 1871 till 1873
the only unit Of value Id America was
the silver dollar, and that gold was val
ued in terms Of that dollar. 1t is fact
that this law was changed at q time
when the country was using very little
coin, except silver change, and even that
was kept out Of currency TO- great ex-
tent by small notes. 1t is fact that
the law attracted very little attention
on its passage, and that It helped to dis
credit silver In Europe. It Is a fact that
silver was discredited also by the ,exces-
sive estimates Of the probable product
OF our mines, which were put forward by
our own mint authorities, and which
have been discredited BY results
4. 1t Is a fact that when q great sec
ton of the American people declare q
situation is become int0lerable they have
some reason for. saying 50. The people
by millions are Meth rogues nor fools,
and a policy which bids them be content
with ruin is not the last word of states
manship. I'll
81. tt is. a fact that no champion of
the gold standards can be got to face the
facts, but follows instead the instruc-
lions Of the famous Dublin lawyers
brief: mo case; abuse the plaintiffs at
torney.' It is a fact that Il calling names
we're logic, they would have no equal as
logicians; but also that that is all the
logic they have.
Catholic Weddings
The following extracts are from lit
tie book called 1.-THE Correct Thing for
Catholics The correct thing, accord
ing to this authority is: 4 4
7 To be married lin the morning at q