The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1896-05-28

I production are 10 he considered. gol.
should have declrcd In purchasin,
power together with other comnodi
ties aud certainly with silver. II 4
not over production. IL is under-con
sumption that ails Us
Furthermore. there has been no owe
( production OF land. on the ccnirar,
the struggle for land and for homes
Is more fierce than ever Years ago
We had the great west orcn 10 settlers
YET lands In the central and easter
states Wee valuable and remunerafiv,
because farm products brought a fail
price. AT present there Is scarcely an,
more productive land open To settle
ment hut lands instead of going ar
have fallen in price the same as al
other property and commodities and
there are thousands Of farmers who
have 10 lose their farms because they
can not get living prices for what they
produce.
Overproduction Of silver.
The claim made that there Is an
over production OF silver since 1873 as
compared with gold and that this is
the cause of its fall in price. Is abso-
lutely without foundation. According
10 the tables issued by the Treasury
Department Aug. 10. tsa3. showing the
total production Of gold and silver in
the world at coinage value. II appears
that from the year 1872. when our
monetary system was founded TO the
year 1852. being period of sixty
years. the total production Of silver in
the world. rating il al coinage value.
was SLIGO 1877 900. and the total pro-
duction Of gold during that time. was
$3.50. 1885, 900. that is. there was almost
twice as much silver produced as gold.
The production of each metal OF course
varied greatly during the different
years. and yet IN. market ratio between
the two metals remained practically
the same during all that time. The
tables show that during those sixty
years there was variance Of only
40 of one point or just about the
cost Of exchange The same tables
show that from 1852 10 1873 the total
gold production of the world was ST.
516. 900. while the total silver pro-
ducton was $3.50. OBS. 00o:: that is there
was two and one-half times as much
gold produced as silver. yet the market
ratio remained undisturhed during
those twenty-one years. just as II had
turing the period of sixty years. when
here was twice as much silver as gold.
Again. the same treasury tables show
hat from 1873 70 1892. inclusive. the
otal gold production Of the world was
'2116.5o5. 900. while the total silver
PRODUCTION was $2.347 .0S7 900: that Is.
he production OF gold was nearly
quail 20 that Of silver. During the !
lrst two periods silver was a money
METAL; during the last period It was |
lot. The fact that during the first two I
eriods. covering over eighty years. the
market ratio remained the same al
hough the production of each metal
aired greatly from time TO time. shows
hat the market price or ratio was
practically the same as the legal ratio
n mint price. so long as both metals
we're used as money. Now. inasmuch
IS silver did not fall in value as meas
red In gold during sixty years in
Which there was twice q much silver
'roduced as gold. IL is clear that had /
liver not been deIuonetized 1t would /
lot have fallen when the gold produc- |
ion was nearly equal to that Of silver
8 Ii was after 1873.
Again. silver has not fallen in COM |
arison with other property. By TAX !
ne the average price Of all commodi- |
les known 10 the market il is found \
hat q pound of silver viii buy as great |
n amount of commodities. as great an
mount Of property as ever. Ii Is gold |
hat has gone up. The law. by striking
own the competition. has given gold \
monopoly. Practically the gold dol l
sr il q twO-hundred- cent dollar.
IL still has only one hundred I
epfs In II. but |. takes two hundred l
snts' worth Of commodities 10 get one
'ben measured by bimetallic prices.
Price Paid First for Specie Basis and
Now for Gold standard.
For some years during and after the
ar we were on a paper basis. and for
while paper dollar was not worth
yer 40 cents In gold. but our people
rospered as they had never prospered
efore. There were no strikes and no
amps; labor was employed and was
intent. There were enterprise. thrift
nd industry everywhere. Then we con-
acted our currency and paid the awful
rice Of six years Of panic. with all the
Iisery and ruin which 1t spread over
le land in order to get on a coin or
,ecie basis. as IL was then called.
Now. my fellow citizens. look at the
rice our country with the rest OF the
ord Is paying for this gold standard.
paraly SIS. ruin. endless
iffer!ng and misery for all these years.
nd we are getting absolutely nothing
return for IT, Debts have been
doubled by law: that is n
,ndition that was created by law
hIch so affects prices that II forces
le debtor TO sell twice as much prop
'ty rs was formerly needed 10 pay of
IS debt All the great European coun-
les are even worse on than we are.
year ago Mr.. Dcpew returned from a
neral tour Of Europe. and in an in
rview stated that the one thing which
ruck him everywhere was the almost
liversal paralysis In the Industries
n in trade. and the misery which goes
it'll II. In making this statement be
IMPLY verified what other travellers.
well as the European writer's. have
ready proclaimed 10 the world. No
an has pointed out or can point out
herein the people OF the world have
rived one dollars worth of benefit hy
e adoption Of the single gold stan Z
lrd- This fearful payment Of the life !
God Of the nations Of the earth has !
me practically for nothing. and there I