The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1895-07-23

not able to
PARITY
Is no proof that another nation may
not be able to maintain the parity. If
L aUGempt to weigh out a pound of
sugar and place a pound weight in one
valance the scales will not turn until a
tuII pound Of sugar has been placed in
the other balance. Until the influence
OF the United States has been thrown
IN the balance in favor of restoration of
silver IL Is not possible to say whether
the parity can be maintained or not.
we believe that it can be-. If Mr.. Car
Isle a stated that no silver standard
country has in time of peace issued
within two years and a half 1852, OOO,-
OOO IN lnterest-bearing bonds to main
tam the silver standard, as the United
States a done to maintain the gold
standard, he would have laid down a
proposition far more important and
a more material to the discussion of
the silver question.
The second proposition reads:
There Is not a gold standard country
IN h world to day that does not use
silver as money along with gold Let
US admit this, and of what weight is it
n the discussion of the money ques-
tlonF AS some One has suggested, it
only proves that no country could get
along without the use of silver. But if
a nation uses silver as England does,
simply as a token money, of what i'm
portance is that to us9 Token money
is not considered as q standard money
and does not affect prices as standard
money does. MI. Carlisle might have
GoI6 with nc NNY1ah +wV1Nh that &h1 o.O11
standard nations use copper along with
gold, but what difference does it make
If a nation does use copper as a token
money! What we desire is not the use
of silver as token money, and simply
as a promise to pay COLO, but we desire
the use OF silver as a standard money
equal with gold in debt, paying power.
Only by the use of silver upon equal
terms with gold can we restore the
equilibrium between money and prop
erGy.
THE third proposition laid down by
Mr.. Carlisle reads as follows: There
is not a silver standard country in the
world today that uses any gold as
money along with silver l have here
a Treasury report, issued on the 10Th
day of August, 1893, after Mr.. Carlisle
took charge of the Treasury Depart
ment, and this report shows that
Mexico is upon a silver basis, and yet
had a stock of gold amounting to
IS, OO1, 600, and the Treasury report
computes this, together with the silver
money of the country, in making up
the per capita circulation. 1t will be
seen, therefore, that Mr.. Carlisle's
third proposition is incorrect, Or else
that his report of 1898 is incorrect.
But let us admit, for the sake of argu
ment, that the proposition is true, of
what value is it, IG simply shows that
nations al do without gold, and it is
fortunate for the nations which have a
gold standard, or which use gold, that
the the silver-using nations can get
along without gold. This report from
which l have already quoted shows
that the population of the countries
named in the report amounts to 1000,
900, 600, and the gold in circulation in
these countries amounts to a little
more than So, 500, 600, 900. This is only
about
TBREE DOLLARS PER CAPITA
of gold for the worlds population.
BIT of the three and a half billions of
gold, two and a half billions, or five
seventies. is held by four nations-the
and Germany-and yet these nations
have a population of less than two
hundred millions If the silver stand
ard countries insist upon using gold
along with silver, and require a proper
tionate amount, they Will have to SO,
cure the gold from the nations which
~,@T- hnun IF md "hOf nation hos
to day, any more gold than it needs!
The people OF China alone, amounting
to four hundred NIL i ms, would re-
Quire two thirds of the gold 10 he'd
Oy the United States, Great Britain,
France and Germany if we had to di,
vide with them so as to give to the
of gold per capita. While it is true
that. as a rule, silver standard coun.
tries do not use gold along with silver,
the gold of the world is held by the ma
tions which CO use silver aa a full legal
tender, along with gold. The United
States, France and Germany together
own more than half of all the gold coin
in existence, and yet these three ma,
tions also circulate more than one bill
lion two hundred millions of dollars Of
full legal tender silver, according to
the report of the mint above refer,
red to.
'Mr. Carlisle's fourth proposition
reads asfOlloWs:
"'There is not a silver standard
country in the world to day that has
more than One-third of the amount in
circulation per capita that the United
States has
IF Mr.. Carlisle means by this pro-
position that the gold standard is re-
sponsible for the per capita circulation
in gold standard countries, he has
stated a proposition which he cannot
defend, and the proposition is entirely
immaterial to the discussion of the
money question unless he does mean
to assert that the gold standard is re
sponslble for the per capita circulation.
NIL ~onOPt 0f 1909 hoforo ~ofoRPoH f0-