Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1896-08-27

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Tho simple truth is. we wiuli he driven
90 atiiver tnsis--to silver m1nomstai'
i'm. These dollarF, therefore, would
flaul upon their zeal value. Il thu
hoo ana unlimited coiuage Of silver 10
o ratio OF sixteen ounces ~ silver 90
0nn Dunes Of gold wOuid, ns some ~
lie advocates asaoft, M BE 81 Ceuis TIE
silver worth 100 cent, and tho silver
dollar tqu4l % the gold atllnr, ihgn we
would have nv oheapug money Than
unw and % would b. no easier 20 yet.
Hot that iuch would ne the result h
ngaioat resa1n ami " c1ntfaiiciot hy
experience In al timts anu In nillAuds.
10 mtaua tbs uuDtsomrlt OF our car.
feBCy % the amount OF tbs Il ieience
between tho COMMERCIAL aus ulin
vslue u the silver dollar, which IL evrr
changing, anu tue cnroi would De- %
reduce property valutH, ontail untold
nuAurisl loss, destroy confidence, I'm.
pair the obligations OF existing con.
tfacls, luther impnvprish tho lauorote
anu producers NJ tho country, create .
panic OF unparalleled severity, and In
nlrl upon trade auI commerce dear.
ly blow. To any ruoh p1ncy ! am un'
altcra1iy opposed.
CASSOT De DONE.
Bims'nillni cannot be secured by In.
dependent action On cur ptft 40 can.
not he obtained by opening our mints
TO the Unlimited ooina 20 Of the silver
of tho world, ut ratio OF 10 TO l, when
tho commercial ratio is more than
thirty ounces u silver TO ono ounce Of
goli. Mexico anu CHINA have lfied
the experiment. Mexico has ifrU
coinage u silver anu gtl1 vi n ratio
slightly In vxcess OF sixteen and one.
hail ounces OF silver 10 one ounce VI
gold, aud while her mint, are freely
open 10 b3tn metals, AZ thnt ratio. not n
single dollar In goid bullion ia coined
and circulated " money. Gold has
uoUn driven cut " circulation In tholo
cuuntrle, nud they ate on n silver
baBl6 alone. U0til international agree.
muut Is naJ, u Is tho PLATA duty Of the
United States 20 maintain tns gold
standard. IL IL tho recognized ana sole
standard OF the great commercial NJ.
lions Of tho world, with which wa
trade more largely than any other.
Eighty.iOur por cent Of our foreign
trado Tot the fiscal year 1895 was wish
geld standard c1untrioi, and our trade
with other countries was settled on q
sold bssp.
LEGISLATIVE EFF oRTs.
Chitny by means Of legislation dur.
Ing anu sine, 1873 there has been pa
m circulation more than 1924, 00O, 900 VI
silver, or iis representative. Ihis nus
been done la the honest effort 20 give
10 silver, " pjstible, the same bullion
aud coinage value, anu enc lufhgu IN,
concurrent uso u both gold ami silver
a. money. Pfi0r TO that time there had
been less than nine millions o. nilysi
dollars coined In tho entire history o
tho Unitnd States, a perioi Of eighty
nine years. THIS legislation SECURED
tho largest usc Oi silver consistent with
flnAYciai safety ami the pledge "a
maintain IT. partly with gold. We
have today more silver than gold. Tnt
so-callod sherman law sought TO ue'
all tue silver production OF tue United
States Tor money NJ its market value
| From 1890 10 1898 tho government put
chased 100000 ouneea OF silver I
monlh,o $4,000 900 ounces year. Thii
was ono-third OF the product OF tn
world aud practically all OF this coun
uys product. II was believed by thos
who then ana now favor ifoe coibag
that tuoh use OF silver would Bivanc
It's bullion value 10 Ito coinage valu
hut this expectation was not realized
In n few month";, Notwithstanding tn
unprecedented market for the silve
produced In tho United States, tn
price OF silver went uOwn very rapid
~, foAcning lower point than owe
before. Then, upon the rccommenda
ton OF President Cleveland, bl.h 20
lincal parties united In the repeal o
the purchasing clause OF the SHERMAN
law. We cannot with safety engag
In further experiments In this ditec
tiou.
GA the 22nd Of August, 1891, In
puOlic address, l Hsid;
"If We could have an internationa
ratio which all the leading nations O
thu world woulj adopt, ami the tTu
relation be iXed between the two met
als, aud ali agree on the quantity o
silver which should constitute u eilve
dollar, then silver would be ne freq an
unlimited In It's privileges OF coinag,
as gold In today. But that We hav
not been able 20 secure, anu with IN
Tree anu unlimited coinage OF rilve
adopted in the United states ut tn
pfeaont ratio, wo would be elill turtle
Z moved from my international agTo'
msnt. We may never bo abs to secur
u II we enter upon tho isolated ooiI
age OF oliver. This double standnr,
implioa equality nj n ratio, aud tina
equality can only be established by tn
concurrent law Of nations. IL was In
concurrent law OF nations that mad
the double standard; Il viii require IN
concurrent law OF nations 10 Ieinstat
and sustain It,"
The Republican party has not been
anu IL not now, opposed ~ the use {
silver money, rs its record hbuniantll
shows. IL has done oil that could b
done for its increased use, wit.
safety and honor, by the Uniiod State
acting apart from other cavern
monis. There ate those VINO think !
has already gone beyond tho limit {
financial pfudaneo. Surely Wa eau q
no further, ana we must not perm
fal.s lights TO lure W. across the dange
line.
We have moro silver Ia use than an
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