The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1895-04-25


calling for justice demanding their rights
ana insisting that they shall he heard; and
II They cannot be heart through one chan
mel they will through another. They have
seen their rights sacrificed TO satisfy the
greed OF the money monopolista: they
nave submitted to Ihh shameful oppras-
sion Win u surprising degree OF patience
aud listened to the double. faced pledges
oil Inc Two leading political parties with II
credulity Indicating little less than blind.
ness to their own intereste. Instead OF
uolng their own thinking and reasoning
on this and other important economic
questions they llnve teen largely inclined
70 accept Inc sophistIy OF the crafty poll.
hcian. and have allowed his WHY argu-
mdnts to inlay their fears and suppress
Their demands. which their unaided. sober
Judgment has long ago told them should
De polli made aLd heard.
But The time OF reckoning Ia apparent.
V drawing near, the oppression has
grown 80 heavy thatit cannot be borne
longer the reople are rapidly awakening
TO lheir true position; tEey are studying
ana investigating these questions for
themselves; they know that serious wrong
exists somewhere anh are quietly audit.
ing accounts; the gloss Injustice done
them. ut thia point. cannot long escape
their search. and ddmonetiZatio Of sil
yer. the climax o. all corrupt financial
leglslatlon must sodn stand before their
eyes IN Its true light. stripped OF the false
appearnnce with which the gold wor-
shippers and their tdols have clothed 1t,
aud receive Its sentence OF banisnment.
at t he hands of outraKed Justice. which 1t
30 richly deserves.
l think ain perfectly safe in assuming
that the vast majority OF our paopie are
firmly convinced OF the fact that our
money supply Is far loo small To meet tile
demands made upon it, mud Keep the
wheels Cf commerce moving smoothly
without becoming seriously over-bur-
dened; and that one of the chief feasous
why labor is SO poorly paid, IN every
branch OF Industry, from the tarm to the
factory. is the lack of u sufficient amount
of money to represent IL und to handle
aud consume It's products. The volumes
of IN money In use In the United States at
the present time Is equal to about S2I "a
Tor each inhabitant. OK q supply about two
thirds as large as that used by this French
people, whose circulation Is $40 56 per
capita, S5S47l OF which Is either gold or
silver, being nearly evenly divided bo.
tween tho Two metals. Surely no one
Will maintain that Frtiuce suffers from u
uperabundaLco OF ihoney.
In no other European country Is there
80 little suffering from poverty or such
degree OF comfort within tho reach of
the middle and poorer classes as In
France, und as there Is no other visible
| advantage in their favor, one naturally
| arrives at the conclusion that the fortu-
nate circumstances and the general pros
perity OF their peUplo ID largely, IL not
wholly, due to their liberal supply of
money. OF which Tiny have more than
oil any lrst class EUROPEAN power. Ger
many being next in line with SIS ST. and
England with SIS. A.. Now II this policy
hae proven SO advanl laRsons to the EreHch
| people, why may not We llud 1t not only
hafe but greatly cur advantage to FOL.
| low their oSampieI And II 1t has done SO
| much toward bringing general prosperity
| to their dense popu lation and 30 nearly
driven poverty from their land, who can
| astmHte the untoll BLESSINGS within the
| reach oil our people by folio wing n similar
course IN our com ia pattvely. new land,
with it's Unlimited rchUurcrs anu uneuual-
| od advantages?
Assuming then that an Increase In the
| volume oil our moAey would promote
the general welfaie." we should spare
neither time nor effort In our search for
safe road by which this greatly desired end
might be reached; and to my mind, thet
roud leads plainly and directly to the free
aud unlimited eoinage OF tho product OF
our silver mines. some are inclined 10
accept President Uleveiand's policy and
advocate going back to State bunk Issue,
| but careful study bf our financial experI.
ence prior to 1860 Ought to convince any
man Of the lack OF wisdom we should dis
play by inviting return of the evils of
wildcat currency. Our Populist brethren
hRve revived The Old RreenblUk doctrine
and are demanding an almost unlimited
Issue ol paper money, based ON public
| credit alone. .-". ."
Ihe weakness ana dangers OF such
| policy we cannot here discuss, Uut would
Respectfully point them To our own ex-
perlsnce with deprecated currency
| from 81 to '7S. anu again refer 10 lie
financial history Of France and their near
approach to dtsastsous rum. through an
excessive iesue of paper currency, baseu
| on national credit ahd public lHuds, the
very abundance oil which made II a curse
to tile people and al impassable barrier in
| their Efforts TO regain confidence and
! prosperity all OF which were unavaillng
until they again mpde gold and silver the
basis OF their monetary system. rapid
and liberal iDerease in their stock OF
which las brought a general prosperous
condition TO tho tranch people unequull-
ed by that oil any other modern civilized
nation unless 1t be tho United States, and
it u doubtful II oven we eau justify such
u AIM.
Tho imposslbiity OF obtaining our
needed additional supply OF money from
domestic gold nlonb is a self.sYtdont fact
TO any one who has noted tie limited
amount of that metal produced In our
mines the coined value oil the total an
nual output OF VIII Ich is about s3S, OOO, 600,
and at least one half OF that amount is
consumed In the arts leaving only SIC.
UUO. 900 as possible yearly addition to
our stock OF money from that source
which Is about ono half the amount wa
must have In order to maintain our pros.
ent ratio and prevent our circulation from
being eduesu TO u lower point each sue
ceeulng year. From the census reborts
OF 1850 and 1890 wd find that The annual
growth Of our population during that de.
eade. was l.250. 0Ou people, and 10 add
s2i.54 10 our circulation as each of these
persons comes TO sweIl the number OF our
Inhabitants requires yearly Increase of
over 73U, 00O, O0U. or about double the pus.
sible amount to be derived from gold aud
with mat metal alone To draw from, we
would find our ratio being gradually 70.
duceu AT tha rate OF one dollar for eav Ii
inhabiiart every four years.
Now. let us see what We NAV exnect
along thls line II We restore silver to Its
place OF honor aud just privileges with
gold admitting Dolh metals to our mints
freely az the present ratio. The coined
value OF the average annual product of
our silver mines during the last ten years
hes been about S65.D00 900. of which about
ten million dollars worth is being con.
sumed by manutaolurers each year, leay.
Ing possible S55OOO,000 for coinage il
our mlnts were open. From which Wa
find that the total hnount of both gold
and silver OF domestic production that
might be offered AZ our nints cannot OK.
coed ~. .GO0. 700 annually. Now, II 1t were
possible ior all OF these conditions to re.
main the came during the next fifty years.
with our mints open to both metals and
without. importing or exporting either, we
should, at tho end of that time, have a
| cllculatlon Oh S4l. 4H Der capita.
But when We consider the fact that be-
yond doubt, we have pissed the point
OF our greatest pIoductiOn OF gold and
reached 1t in silver that we must soon soe
our supply OF both metals dscreas sing.
while the demand Ior each for manuruc.
turing purposes Is increasing; that tho
growth of our population must be great.
or rs the number of our people grows
larger; then. in vew OF these facte, it be.
comes entirely within the bounds OF rea.
son 10 predict that We should never be
abio to reach "A circulation of 1900 Ger
capita from the free coinage of American
gold and silver, AT least we are perfectly