Iron County register., 1895-09-19
S1S,000,0 100000

SIS S,OUO,oUU,UUu
The population of the United States
is seventy millions, an average OF
about $3.50 debt for each man, woman,
and child in the country. In the last
analysis the people will have these
debts to pay. The officers of our gov
ernment, national, and state. and OF
the corporations thus indebted, are
but the business managers of the peo-
pie in this matter. 1t is probable that
at least one-h:lf of the entire amount
is due to creditors beyond the ocean.
The annual interest on this vast sum,
at four per cent, would amount to sew
en- hundred aud twenty million dol
lars. To pay the interest due the peo-
pie of other nations would require a
gold export of three hundred and sixty
millions dollars. To pay the interest
due the people of other nations would
require gold export of the three. hun
dred and sixty millions annually.
9. Right mere is where the '.sound
money" and "honest dollar" cry comes
in. 1t is not surprising when we con-
slider its source. Are not the tones of
Shyiock discernible! 1t Is surprising.
however, that American statesmen
and journalists should take up the cry
ard seek to give it greater currency
than lawful money of the realm.
10. This is the more surprising in
view of the fact, known to all well-in-
formed statesmen and journalists, that
silver bullion is largely an American
product, and silver coin pre-eminently
American money. For period of five
centuries, American mines, chiefly
those of Mexico and Peru, have pro-
duced from seventy-five to ninety per
cent. of the silver of the world. In re-
cent years the silver production of our
own country has been largely increas-
ed. A single mine-the Comstock, of
~ CIV aao 1hii0 y lIoh
1860 to 1890, produced $32O.Ooo, 900.
Under the time-honored Monroe doc
trine. we have always recognized our
next door neighbors on the South, and
with the exception of a recent humil-
iating incident, have resisted, if not
resented, any interference by Europ-
can nations with American affairs, but
now we are called upon to discredit
the principal coin of American coun-
tries and to depreciate their money
metal. of which it may be said that if
the American people will stand to-
gether upon the principles underlying
The Monroe doctrine, which found new |
in recent treaties of recip |
'ocity, it will not be decade until all |
,he gold we need will be at our com
nand in exchange for American silver
The inexorable demands of India for
ordinary business, and the special
needs of China and of that young giant
If the Orient, Japan, resulting from
heir great war. conspire to make this
Inevitable.
IL. 1t should never De forgotten
hat this entire Indebtedness, except
'nly part of that OF corporations and
'rivate parties, was incurred when
-old and silver were the recognized
money of the world. Payment in go
DIN to creditors of this or any other
ountry, with this exception, lis not
ominated in the bond.n When the
resident of the United States desired
uthority TO issue bonds payable in
old coin. Congress refused and pre-
erred the continued issuing of bonds
ayabIe ..ia COIN {not gold) though
otified In advance that higher rate
t interest would be incurred This
erved notice on the whole world that
be American people were determined