The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1895-11-23

able. to coin and use all the gold and M;
Fer produced| and presented for c0ina9e
the bullion price OF gold and silver illl
be maintained at the mint ,sregard less Of
the changes in the cost of prod Ion:
Neither is the relative product i0n OF gold
and silver nportant, because SO long as
the demand is great enough take alisQt
the goldya1d all Of the silver presented II
is immateriaI whether the production OF
gold is five times as great as the sproduc-
ton Of silver, or the production Of silver
is five times as great as the roductlon q
gold Gold and silver are precious met
ais because they are limited in produce
ton, and it is possible to furnish an I'M
limited demand for them by legislation.
the reason that the pori iotdncucoinicu t
for the rea son that. the production is linn
tied. 1t would be impossible to furnish
an unlimited demand for wheat, or oats,
OF. corn, because these can be produced in
unlimited abundance, but in case OF gold
and silver they must be found before they
can be produced. In fact, we can hardly
speak of the production Of gold and silver
in the sense that we speak Of the produc-
ton of wheat or corn or manufactured
products, because there is no basis upon
which to calculate the cost of production.
We know that a certain amount OF labor
an average produce certain crop, but
there is no basis upon which we can cal
culate the cost Of producing an ounce OF
gold or silver No two mines produce at
the same cost, and no mine produces at
the same cost for. two consecutive years.
Many .seek, for the precious metals and
few find them. Those who are lucky
enough to find realize enormous profits;
those who do not hnd simply waste their
money.
Mining is gambling. 1t is like a wheel
of fortune; many buy paddles, but only a
few realize anything out OF the invest
ment. The MOLLY Gibson was a few
years ago pointed as silver mine which
produced silver at a very low cost, but
now the cost OF production is greater.
The Comstock lode, which formerly pro-
duced immense quantities Of silver at Il
low cost is. now almost exhausted. Gold
has recently been discovered on Cripple
Creek and the Independent mine is
producing gold at a low cost Sometimes
Il rich deposit is found from which gold
can be extracted at a cost Of a few cents
An ounce, but while the owner of the In
dependence mine is realizing fortune
more than 1000 holes have been dug in
the Cripple Creek region by prospectors
who have realized nothing for the money
expended At Helean, Mont, saw q box
Of gold nuggets, worth probably in the
aggregate Of $4,000. One of those mug
gets, contained s943 worth Of gold. These
,nugget we've found. What was the cost
OF production? And yet it can be safely
asserted that taking all the gold in the
world and all the silver in the world more
money has been spent in the production
of both metals than could be realized
from the gold and silver found If convert
ed into money at the present coinage ra-
ito.
The silver question as it now presents
itself is the most important question ev-
err submitted to the American people in
time of peace. The action OF our nation
will influence the action Of other nations.
We are the greatest nation In the world
today, as we'll as the largest producer OF
silver, and our example, If we desert sill
yer and join in the demand for universal
gold Standard will do much toward driv-
ing other nations from the use Of silver to
the use of gold. Eevry new demand Gre
ated for gold raises the purchase power
of that metal, and lowers the general lev
ell Of prices. There is no end of the gold
standard policy but distress and suffering
among the masses and unjust profit
among the money changers and capital
istic classes.
The delivery of Mr.. Bryan's speech oc-
cupied over two hours, and the truth Of
his sayings and force of his arguments
appealed to everone present.
AtEtIe close sIgnatius Donnelly was
called for and responded in a brief talk
quite in line with the sentiments prev
iously expressed.