The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-19
DEBATE.
GOLD VERSUS FREE SILVER.
Great Discussion of Coinage-Rea-
sons For the Views Upheld By
the Two Champions of Opposing
Systems.

The statements of reasons for anC
against free coinage have been prepared
with great care, and as will be seen
their comprehensiveness and authorita
tive character are attested by the sigma
lures of those who are leading exponent.
of the opposing doctrines.
Reasons For Free Coinage.
Following are the thirty reasons fol
the free coinage of silver at the ratio o.
16 to l:
1-Silver and gold at about the ratio Of
10 to 1 have been used Jointly for hun.
dreds Of years with satisfactory results
-Seventy-five per cent of the people
of the world now use silver money ex-
clusively
S--The cost of mining silver has been
understated by the gold standard men
Inc best authorities say that it has cost
more to produce a pound of silver than
pound of gold.
4-Gold can be boarded by a few capt.
tal1StS and the world suffers With two
metals as primary money gold and Sill
Ver) this could not be done.
1.-The supply of gold is inadequate to
the needs of commerce.
6-Gold does not increase as fast in
proportion as does commerce.
while in 200 years there was under
free coinage variation of only about
monetlZatIon there has been a variation
of Is points
S-The decline in the market value of
! silver has been mainly caused by its de-
! monetization in 1873 and in the years fol-
lowing, and the fall in prices of most
/ commodities il. the United States is due
! 10 the decentralization of silver in 1873.
9EWhen silver was demonetized, in
! February, 1873, silver as measured in
! gold was at premium. The argument
| OF deprecated silver could not then have
! been made.
10-England, by her possessions in At
rlca and her stealing of territory in Vene-
zuela, controls most of the gold supply
OF the world and gets the balance by
reason of the world owing it to her on
gold notes and gold bends
Il-EXcept some silver production in
Australia, England produces practically
no silver.
Silver Output of the United States.
12-The United States produces from
one-third TO one-half of the silver of the
world. She certainly has the power to
control the silver market, and yet she
has not only not resisted England's re-
peated attacks on silver, both open and
covert, but has assisted that nation in
the discrcditing of silver and the lower
ing of its value.
BAH single standard gold men whose
opinions have been published agree in
the statement that if the nations of the
world or if England alone would con-
sent to an International agreement the
AdIiO VI III " L WOuld DS easily SuS-
tanned.
14It is vain to hope for hGp from
England in the effort to restore silver 10
its former position. AS the great credit
make money scarce and dear. (See Clad
stones speech Of Marcn l, 1881
l5-Only per cent of the business OF
the, people of this nation is carried on
with foreign countries. 1t is better To
legislate for the 95 per cent OF don este
commerce than for the pes cent of fer
ign commerce.
1.-THE constitution CT the rlted States
gave power to Congress TO coin money
and regulate the vaiGe thereof Said
Daniel Webster: Il am ce--L'nly Of the
opinion that gold and silver a. a ratio
nXed by Congress cons lutte the legal
standard of value in :lts country, and
that neither Congress nor any state has
authority to establish any other standard
or to diSplace the Stan1lrd."
1.-THE reduction of the quantity OF
primary money reduces the price OF la
Dor, property and commodities.
1S-Property measures its value in
money and money measures it's value in
property. Money may increase in value
by reason of its security. When this is
the case it buys more property, property
buys less money.
19-It is absolutely certain that legis-
lation which reduces the volume of
money one-half by depriying silver of it's
monetary function depresses prices and
enhances the power of the remaining
haH. AS the strain upon the remaining
go on until values are so reduced as to
pauperise mar sind.
Hardsh. p For the Debtors.
2O-The United States has reduced It's
debts from 200. 1900 in 1868 to $1,000, 000.
coo. yet it II take under the gold stand
ard as much of our property to pay the
8, 600 OOO,G as would have paid the whole
2l-There are but $500, 900, 600 of gold in
the world. If this could all be inclosed in
a solid cube. it would be less than
twenty-five feet in diameter.
22-The main use of silver was to cir
cuiate as money When nations stopped
coming it the demand fell off, and the
GUS as would be easily induced to
join it, should remonetize silver the de-
mand would soon advance the price to
where it was before decentralization.
23-Free coinage of silver at a fixed
quantity to constitute a dollar protects
silver against market fluctuations and
the manipulatfonS of bulls and bears,
placing it on the same basis as gold in
this respect.
2EThere has never been at any mo-
ment in the worlds history a super
abundance or plethora of the two metals,
or either of them, not even during 1S51-75,
during which quarter of our century the |
supply from the mines amounted to as
much in weight as has been produced for J.
$50 years antecedently.
2o-The demand for money is equal to |
the sum Of the demand for all other !
things. The competition for money is
ir7To,.s,-,,S+ % arcl ,-,9ive~Sa1 r IS
therefore, a mistake to say that the de-
mand for money is limited by the demand +
upon bankers for loans There may be, /
however, plethora of loaning money at /
money centerS when industries are ar |
rested.
26-Wherever there has been oppressed |
people who have looked 10 this nation |
for hope and help in the past they are |
now looking to free America for relief, |
in the midst of the struggle against gold !
We have it in our /
power to relieve tn I'm and enhance our
own greatness and the peace and pros /
per1ty OF the world. Shall we do it?
2-When any important country, pow
erful enough to have the proper infiu- !
enceS, establishes a bimetallic currency /
at fixed ratio and maintains the par |
ity, of necessity the whole world is on |
the same bimetallic basis.
8-The United States government is
great enough and has sufficient resour-
ceS to undo the wrong of 1873, and as in
l776 we proclaimed the political emancipa-
ton of mankind, so now we will pro-
claim financial emancipation from the
Shylocks of the old world.
Carlisle and Blaine Quoted.
give believe as Carlisle the present
of the treasury, believed when,
in February q, 1878, he said in the Con-
greSS of the United States: 81 know that
the worlds stock of precious metals is
none too large, and / see no reason TO
apprehend that it will ever be so. Man
kind will be fortunate indeed If the an
nual production of gold and silver coin
shall keep pace with the annual increase
IF population and industry. According to
NY views of the subject, the conspiracy
which seems to have been formed here