Freeland tribune. (Freeland, Pa.) 1888-1921, 1896-09-21
SILVER and PROSPERITY.
WHY FREE COINAGE AT l6 TO l
WILL BEING BETTER TIMES.
Prices of Commodities Would Go Up,
Farmers Would Prosper and Idle
Factories Would Resume Work
-Goldbug Arguments Answered.

"lf the Democrats are successful, "
declare Republicans, "thore will be
widespread ruin. A panic worse than
any recorded in history will ensue,
and the suffering of the people will be
appalling" Asked to explain, to give
reasons for such dismal view of the
future of this country, the inquirer
will be met with statements contain
ing the foundationless declaration
that free coinage will depreciate the
4 currency, cause wholesale debt repu-
diation, loss of confidence abroad,
and the return 10 this country of se-
curities payable in gold; and that the
demand for gold will bankrupt the
country. That's, OF course. picture
of dire calamity. But ask for the
proofs, the data that make this con-
clusion reasonable one. The Republi-
can, if he has reai the newspapers of
his party and gold literature, will i'm
mediately begin to prate about eff
ty cent" dollar.
Let us look into this basic argument
of the Republican party against free
silver. What is the gold dollar to-
day? Measured in gold it is worth 100
cents. What is it measured in silver
of in other commodities? To do that
will seem, TO the gold standard man,
an impossibility. But get right down
to the fundamental principles that
underlie the use of gold and silver as
money. The gold man will claim that
his metal is the natural standard be-
cause OF it's intrinsic value. Its in
tiinsic value is so much per ounce, and
it never auctuates. AS soon as an in
dependent investigator makes the
economic fact clear to himself that
there is no such thing as intrinsic
value he is on the road to becoming
an ardent patriot, supporter Of Bry-
an and Sewall
There is no such thing as intrinsic
value. Jevon, q gold man; Ricardo,
John Stuart Mill, Prof. Francis p.
Walker, all men of world renown as
political economists. declare that value
arises out of the relations that exist be-
tween things, and that 1t cannot be
intrinsic. Intrinsic quality Is posi-
BILE, because quality is fixed, but value
is only fixed by supply and demand,
variable things. Thus gold has no in
trinsic value. If placed alongside the
other products of the earth it would
show as does wheat, corn, oats, cot
ton, silver, fluctuations according to
the supply and demand. But gold has
been specially chosen by Governments
as a unit of value, and an enormous
| nrtt al In, L.
created. In this way silver, the other
money metal OF the Constitution, has
been Disseminated against, and the
money supply of this country, and the
| Governments and Nations OF Europe,
has been limited to q material that is
vastly inadequate to supply the de-
nands of trade.
Has this great demand for gold affect
ed its value? The gold man will say
10! He will declare that gold dollar
is dollar, and that as bullion the
metal will exchange in auy country in
Europe for the value intrinsically in
the metal. Place gold, its supply for
the last twenty years, alongside of sill
YER, wheat and cotton and corn, and it
will be seen ulat the average supply
was of not sufficient difference to
1--we affected the comparative value
under natural conditions. Why is it
then that while gold has remained at
its stamped value, the other commodi-
ties have fallen, o. has gold risen in
purchasing value, and have the COM
modities remained at the regular prices
created by supply and demand? Has
there been an overproduction OF wheat,
corn or cotton? Has there been an
overproduction of silver? What has
caused the seeming fall in prices, or
has there been a fall in prices. What
is the fact?
Gold has appreciatedi Since 1874
it has appreciated between forty and
fifty per cent. 1t will to-day COM
mand more in the market to that ex.
tent than it would twenty years ago.
There has been no overproduction.
The supply of cereals has kept pace
with the population. 1t has not ex-
ceeded the ratio. 1t is gold that
through Government aid has appreci
ated in value and forced the prices of
commodities down to basis that is
to-day driving men out of business
and impoverishing millions of farmers
all over the land.
Arthur Balfour declares that when
gold appreciates it leaves the country
and goes abroad. He said that before
the bond issues. The gold of the
United States is going abroad. Bal
four declared that the greatest curse
that could visit country would be
appreciation of its standard of value.
The curse is seen in the United States.
Thousands and thousands of men are
out of employment, and magnificent
farms containing the finest land in
the world are lying untitled and great
factories are still.
The gold man declares that free
silver will drive gold out of the
country. Ask the gold man what is
driving the gold out of the country
now. When he declares that free
silver will make gold at premium,
ask him what it meant the other day
in England when the Bank of England
i 4