The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-24

No matter what kind of metal money
! it is that is added to the circulation
gold or silver, the larger the addition
! is the more prices will raise, and rising
prices are synonymous with prosperity"
BETTER OF with Silver.
IF we were to end by reaching a sill
! Yer basis, would that be a calamity 2"
4 am satisfied" said Mr.. Teller,
that if we should go to a silver basis,
WITH rree silver coinage, we should be
! fL1meaSurably better off than we are
! on a gold basis without gold AS 1
said before, our Indebtedness to Europe
/ IS such that we cannot hold our gold
Our debts call for a shipment to Eu-
/ rope OF $120,000000 for interest every
Year. | believe that is a low estimate
lhe balance of trade is only apparently
! IN our favor. Actually, it has never
been in our favor American travel
/ takes over $l00,000,000 of our gold away
! to Europe each year and leaves it
! there. American domestic servants
send $l5, zoe more Of our gold annu-
ally TO their poor European relations
! We pay not less than 5000, 100000 q. year
more OF our gold to foreign ship owners
for freight Add all these items to our
! yearly gold interest payment of $780,
! 100000. and you find an aggregate
/
for export of oveH $500 ,000, 600. And the
/ Democratic revenue policy of increased
/ imports means an increased gold eX-
Oort"
But, then, Mr.. Senator, you DO not
allow for the increased exports of our
American productions which the Demo-
cratic statesmen insist viii follow and
keep pace with increased imports"
as TO that" rejoined the Colorado
Z halr oil hot
White we adhere to the gold standard
ana prices continue to fall as they must
we can ever make the value of our eX-
! ports overcome the real balance of trade
/ that is against US. In round numbers we
1 exported agricultural products last year
OF The value of $600005,00O. That was
! q per cent. of the total value. of our
exports. But what did we get for that
! vast volume Of exports? Only six hun
dred millions at gold standard prices.
! The same commodities if sold at the BIZ
metallic prices OF twenty years ago would
! have given their American producers
/ twice six hundred millions. That would
/ lave trebled the expanding power of the
] American farmers, and the paralysis OF
industry and business would never have
/ happened
No More Compromises.
What, then, is TO be done 10 set the
country firmly on its feet &gain?'
Il answer that question without any
/ hesitation, and say that no real solu-
ton 70 our difficulties has been pro-
posed, and none can be proposed, ex-
/ cept to restore silver not only TO its
! old place in our currency, but in the
currency of the world. There must be
no more compromises. Nor can there
be any relief il we are tc wait until
england can be brought to give her as
sent to ii. We must act for ourselves.
/ The choice of a way out lies between
( broadening of the basis of money by
putting it back ON the two metals on
which it rested securely for ages and
! genera tons, or else larger and larger is
4 sues of paper money based upon a single
foundation OF gold. That viii grow mar
/ rover and narrower and all the time
weaker relatively to the sGpeTstructure
that is reared upon 1t.
"Do you believe. Mr.. Senator, that free
silver coinage is in sight
1T is not Immediately in sight, but [
am confident that 1t is coming. The les
! son OF our recent political history is
/ for the Republican party to digest and
! apply. Since 1899, within four years, we
have seen the people decree a. revolution
against each of the great parties.
They voted no confidence in 1890
! confidence in the Democratic party. Both
votes were negatives, popular pro-
tests. notices of general popular
Dissatisfaction. The people have turned
it has done nothing to relieve their
distress. The Republican party's opp0r-
tunitY grows out of the Democratic par
tvs failure. If it can find the remedy
the Republican party will come to power
and remain there a long time. But if
it cannot relieve the popular discomfort
by removing its just causes, it will fail
and be turned out as the Democra tic
party has been"
Gaining All Round.
is the cause of free silver coinage
making Roadway in the east, AIR.
1t is gaining in the east and every
where. 1t is gaining even in England,
The growth OF bimetaliic conviction in
that country, as shown by its leading
financial journals and by the strong
bimetallic utterances Of such leaders
as Mr. Balfour and others, who are
likely before long to be the ruling states
men over There, is remarkable. Speak
ing OF the east, | will say here that
among the influences that have helped
to inform the public mind correctly on
this question, l count the New York Re
corder. 1t has done brave, intelligent
and strong work for the cause of the
people, and there are many evidences
that its work has told. 1t is no longer,
as ii once was the solitary eastern news
paper with a great constituency of read
ers and q. widely felt influence to advo-
cate silver reStora ton. There are a few
others, and the work of conversion is
going on. We shall, because we must.
ultimately recover our bimgtallic basis
OF money, and the Recorders vindication
TF-ill no nv lfaf