The Democratic advocate., 1895-05-04

the demonstration of silver, explains the
goldbugs' profits, and the stock gamblers
gains.
The goldbugs falsely tell us that this in
creased ratio is caused by the variance in the
worlds production of the two metals. The
ratio or parity between silver and gold coin
mark the distinction between bullion or metal,
and coin-is, as before stated, l6 to l IN our
country, and 154 to in most European coun-
tries; the bullion ratio of production of the
two metals has constantly varied, but this
variance never affected their coin value. until
after 1873 when silver was demonetized. The
worlds gold production in 1851 was ., 5000
ounces. in 1873 it was 4,650,000; its silver
production in 1851 was 81, 100, 600 ounces, and
in 1878 was 63, POI, 600 ounces. Here We see,
that the world production ofthese two metals
ranged from to in 1851, to IA TO IN 1878:
the price per ounce of silver bullion in 1881
was 81. 33; in 1873 it was Sl.29: the ratio OF
the price between silver and gold in 1851 was
I5J to l; in 1873 IL was 15s to l. As before
stated the ratio of production between silver
and gold in 1851 was ) to |, and in 1878 II
was IA to /: vet Notwithstanding this great
variance in the production of the two metals,
we find that the selling price was about the
same all the time: during all the years when
silver had not been demonetized. regardless
of the worlds production. an ounce of silver
was never worth less than Sl.29 and our silver
dollar less than Sl.00: but, mark you! IRON
1873. when silver was demonetized, II has
steadily deprecated, until in 1891 1t was sell
ing for 80 cents, and now sells for about 60
cents per ounce.
It seems to me that every fair and sensible
man must admit that this depreciation is not
the result of any natural law Of supply, de
mand or production; but is caused solely and
alone by its demonetization, whereby It's coin
value and use were destroyed.
Silver coin thus being outlawed. gold has
steadily and constantly huctuated, and con
stantly and steadily appreciated; meanwhile
the goldbugs. shylocks and stock gamblers as
steadily and as constantly plundered the farm
er. the merchant the workingman, the son OF
honest toll, be he who he may.
The goldbugs, blinded by covetousness, for
their own ACKNOWLEDGEMENT so doctored the sil-
yer and so cornered the wheat and other pro
ducts as TO overreaeh themselves, for now, not
only in the L. s. but in France, Germany.
England and in fact the world over agricul.
turistS are fereely clamoring for relief and
| demanding the remOnetizatiOn of silver.
England few years ago stopped the coin
age of silver in India. this resulted IN such
widespread want and distress that she was
| forced on the first of last month to open the
| mint at Bombay for silver coinage: the House
of Commons admitting the necessity for q
! greater volume Of money, few weeks ago
| passed a resolution favoring convention for
| the purpose of coming silver.
| Mr.. A. J. Balfour, leading English states
man and the prospective Premier, Is an out
and-out bimetailist; speaking OF the single
gold standard. he said, ''oUr existing currency
| is neither convenient medium OF exchange,
nor fair record of obligations; If were given
the unwelcome choice between a gold stand
ard which has appreciated. and silver stand
ard which has deprecated, bat which leads TO
rising prices. should choose the latter. l
think a double standard. gold and silver j.
| better than single standard. aud y conducive
to stability. There Is beyond question an in
/ fuential element favorable 20 himetalism,
and the list embraces professors, statesmen.
| landowners and farmers who are convinced
that the cheapening Of products is not due To-
oyerproduction, and improved machinery and
methods, but TO the scarcity OF gold
Germany as before stated. having dem0ue-
| tized silver in 1872. Is now IN favor Of hlme-
,allism. The Richstag aud the Council Of
State both endorse bimetallsm. Nearly all
the leading men believe that the recOinage Of
silver viii soon become an accomplished fact
and assert that II Is the only thing that can
relieve the distressed farmers from the calaR-
iiies which began with the decentralization of
silver in 1873 and have continually increased
to the present
Conn, Won Mirbach. the foremost authority
on money. says. III Is my firm conviction that
the power Of facts will force the government
to help pave the way for the rcmonetizaiion ot
silver: bimetallism IN Germany j. no longer a
currency question. bui a universal, national.
economic one Il stands close 70 the present
most important problem Of our inner policy,
VIZ the salvation and maintenance Of German
agriculture The distress Of the farmers taroeS
the necessity upon n to secure = standard
aud more stable power Of purchase Of silver.
France with It's enormous stock of coined sll-
yer has a great iHieyest IN raising the value oi
this metal; and the L. ;. can have no Interest
IN allowing silver 10 further depreciatc. II Is
. question &c life or death for hnsbandrv. the
farmers WilI be ruined Il the single gold stand
ard is maintained.
Baron won kardorT, statesman and mem-
Der Of the Reiehsiag. saws, ''the German Gov
eminent forced by the distress of agriculture
viii submit proposition for the remonetiEa-
ton Of silver: and the enormous progress the
bimeiallie movement has made under the
/ pressure Of national distress everywhere in ihr
world makes success certainty.
France IS unanimous for bimetaliissn. aud
/ her Prime Minister says, that Germany 5
/ decentralization Of silver caused disaster. and
1 tNHl ne laNHIN NiANfAHlttetA ~ AAtF AifAAA7 VI
| doubling the price OF wheat and al other
I agricultural products.
| None ought 60 oppose an International
monetary convention. for is purpose j. 10
I rehabiliisie silver and secure binetallism
/ everywhere.
/ But If there should be 90 such convention
Z then | favor the observance Of the wori sent
/ forth by the last Democratic Convention, that
/ the L. :. should herself ix the parity of the
+ metals and 70 directly 10 bimeiallism; the
( language Of the Platform j. that the parity Of
i the metals should be adjusted through inter
I national agreement or by snch safeguards Of
/ legislation IS shall insure the equal power Of
every dollar IN the payment Of debts.
/ Gold Is constantly fnciuaiing bat all the
time approaching; while wheat and all other
/ commodities are also constantly aaeiuating
I but all the time depreciaiing in price; since
I 1873 when silver was demoBetized Il has been
/ impossible for farmer even 10 approximate
T how much wheat or corn il would take tn pay
/ his debts from 1864 10 1873 the average price
4 Of wheat was 81 per hushel; from 1878 to the
present Il has been going down, down; IN ls92
1 Il sold for 81 cents in 'a3 for Is cents. IN -
+ for s. cents cotton has fallen from ten cents
I a pound in 1873 TO 6ve cents in "a; corn sold
/ for sixty-six cents in 1873, and forty cents 10
/ "a: in 1878 a farmer could lift n mortgage or
! pay utNt OF ~EuuN Win 90 ulleEst> OF WHEAT
i to do il in 1894 took 1851 bushels. The gold.
/ hugs act as II they thought il honest and fair
/ thus to fleece and fool the farmer the gold
bngs have been enabled to perpetrate their
] injustice through the demonetizatioR Of silver,
the result Of which has been unstable. appre-
/ ciating aud constantly fuetuating gold coin.
Faced with nation's need, to stop this
/ finetuation aud thus protect the weak aud
/ defend the erstwhile and otherwise defence
4 less. the Chicago Platform Of 1892 proclaimed
/ in no uncertain ZONES the gospel Of Deliverance
| in these memorable words. I'VE hold To the
1 use Of both gold and silver as the standard
money Of the country, and to the coinage Of
/ both gold and silver without discriminating
/ against either metal or charge for miHfd9e,
/ but the unit Of coinage of both metals must be
! adjusted through International agreement, ~
by such safeguards Of legislation as shall insure
| the maintenance Of the parity OF the two
metals, and the equal power Of every dollar at
/ all times for the payment of debts We insist
| upon this, as especially necessary for the pro
/ lection of the farmers and laboring classes,
the first and most defeneeless victims Of
/ unstable money and fsctHating currency.
/ This is the bimetallie platform on which
| Cleveland stood in 1892, and in his letter OF
acceptance he said, ''the wants Of our people
| arising from the deficiency of money circulation