The Anaconda standard., 1895-05-13
SILVER.


An Able Letter Upon the Subject BY
Green Majors.
To the Editor of the Standard: There
seems to be so much confusion in the
minds of people generally in regard to
what free coinage Of silver" means
and also about the aims to attain 1t,
that brief outline OF It might be Civ
en- here to advantage. In the nrst
place. II we had an ample volume OF
money in the world there would be no
need OF any further silver coinagef and
this being the case. the decision o<the
question as to how much money we
really need seems to- be the hinging
point. Then, unless we consent that
the earnings OF money loaned snouid
be greater than those of productive
Industries OF all kinds. we must finally
determine that unless we secure sucn
a volume OF money as would, by its
plentitude, cheaper money ana IN
crease the price OF everything else that
is now so much lower than the money
lenders profits. the rates Of pront Tor
lending money must continue 70 re-
main so disproportionately high as to
perpetuate our dull times. To Illus
| trate: For the 80 years between 1850
and 1880 the increase of wealth In this
country. as an entirety, was only about
2h per cent per annum: In other words,
| money lenders and everybody else
were only entitled to 21z per cent per
annum increase or interest on their in-
vestments for that time. II any indus
try or interest got more than that II re-
| ceived more than an equitable share.
and the other industries and interests
had to be impoverished as q conse-
quence in the degree that one or more
| got over 2h per cent. -
Interest on money in California av-
erages over per cent per annum, as
| shown by the census reports. IL 70 no
| doubt cheaper in some Eastern states.
Accepting per cent as the basis OF
| estimate for moneys interest ana "a
per cent as the Increase of wealth in the
| whole country, we find under the law
of proportion that with $24 per capita
as the present amount OF circulating
medium in this country. we need At
least $96 per capita in the United
States to bring the earnings Of money
down to the earnings of other things,
or four times the volume of money we
now have. 4gIt
Hence free coinage of silver" means
more money. and the great struggle TO
attain Ii means the peoples great de-
sire to throw off financial bondage.
The following are some of the results
that would be accomplished by free
coinage: ~.
Many millions of people would, al
rectly and indirectly, be put on a hv-
ing basis at once in the production,
reduction, transportation, etc., OF the
metal. -
The Increase in the volume of money
II would give to the world. with the
advanced price IL would place upon
commodities. would enhance the share
of the wealth falling to the industrial
element of our population by many
billions of dollars. 49, /
1t would double the present price OF
wheat. cotton and all the other staple
products of this country, and at the
same time double the price of the land
upon which they are raised, as was the
case in the early Sos. when so much
: gold was being produced. .sXI
1t would restore the original value to
those who invested. under the sanction
of law, in about one billion dollars
worth of mining property. These were
: vested rights and were confiscated by
z law. by the decentralization of silver
, II other bimetallic countries refused
to adopt free coinage. our doing sc
would give us practically all the trade
D of the 7oo,000,000 people using the sin
gle silver standard.
There is only $4,000, ,00o, 900 Of silvei
4 money on the globe, with 1000 years o.
e production. II all of II were in TIN
United States and IL all of II wer'
coined into our money, IL would Civ
our population less than $50 per capita
or only about two-thirds the amour
: we need right now. Hence. as w
. | could absorb IL all and still have onl.
I two-thirds Of enough (granting that W
s could have no other money!, we CA
Il certainly, as a nation, undertake fre
p coinage alone, without the consent o
assistance Of any other country or gov
ernment on earth. And that Is wha
n our government should do, and do
l. Immediately.
!. No sane-minded person will attemp
;. to say that II our government mad
II silver money full legal tender In a
W amounts, the public generally woul
El.a1 10 xxnf M
:, only force them to do so in that cas-
'r but they would gladly do so. Furthe
he the whole world would be glad to az
N | cept IL, for the reason that they coul
:, buy our products with II in that cas-
. The outside world will always homo
al any of our money that we ourselvs
4 honor, for the reason that that the
sr can buy with it anything that we hav
= to sell. ma
u The wicked statements that we cal
IN not resume free coinage without an
lg international agreement whatever al
.. a mixture of cowardice. Ignorance an
- falsehoods. Many men. knowing be
E. ter, make the statement for the pu
he pose of misleading.
is With gold and silver combined df I
-. other kind were used) there is not on
% tenth of enough money In the world
ne give a Just and equitable distribute
ht OF the wealth of the world to those WI
IN produce IL. =,
The bankers congress sltung In u
In national capitol at Washington, mi
in representing the people. tells us that
Id we had free coinage all the gold wou
- leave the country. Our so years
'n free coinage previous to 1873 shows
be that our ratio of 16 to l drove all q
te. silver to foreign countries and broug
rh us their gold. The reason was IN
:" Europe's ratio was 15ik to 1, and i
dia's and China's Is to 1. so that o'
ratio being more in favor OF gold ths
theirs. which means that we offer
more for gold than they did, and tn
az they offered more for silver than y
as did. by the respective ratios. the tv
ey metals went to their highest market
he Gold and silver are twin sister
rocked in the same rock-ribbed Grad