The morning times., 1896-08-22

In February petition asking for the immediate restoration
of the and unlimited coinage gold silver
signed by The of all nearly leading
while gold purchasing power
makes difficult obtain of dollar they
Bile and Unemployment less certain gold standard
ages enterprise and pa1alyzes Industry or the other hand the
restoration of bimesm will discourage hcarda when
steady rising afford 10 lie idle in the
bank vaults The together
majority of the people of the country Why should
their interest be ignored in considering financial legislation?
monetary system which peunary advantages few syndi
h mas r ss 10 ,han system
from Mr.. B,yan's Nev York Speech.
The statement that the representatives of a large
number of wageearners pettoned Congress for free sill
is entirely is also true that these
labor leaders claoring for the opening of
minis silver 1t farther fact that should silver
prevail the November election every of these rep
resentatves of organized labor who attempting to
lead their followers asray will become objects of hatred
and contempt The distress caused by the inevitable
panic that will follow silver supremacy will brand them
traitors to the of labor and attach to their
record as leaders stigma that be bloted out
Mr. Bryan's nsinuation that farmers and
have been ignored in financial Legislation will also fail of
its purpose. The pending campaign will demonstrate
that this is of the people, and that unsound
principles and unwise laws be engrossed
statutes the request of demagogues by the conn
vance OF syndicate of mine If Congressional
representatives have in the past failed voice the will
of the public the remedy lies the election of and
not in the adoption of debased standard that will bring
about industrial upheaval and destroy commercial
and financial systems.
The deusve argument with which Mr. Bryan and
his party have heretofore deceived both farmers and
is based the assumption that the
citation of silver has injured trade through
scarcity of money Their theory is founded the alla
cous reasoning that gold is rising in value and that
prices falling accordingly They claim that the clos
ing of the worlds mints to silver has increased the
mand for gold, and that while the purchasing power of
dollar has also been increased has been made diff
fcut to obtain. comparison of monetary cond-
ton 1873 with that of today and inquiry the pro
ducon of various staples including gold and silver
will establish the falsty of this and show that
Mr. Bryan short facts when he stated that the
gold standard discourages enterprise and parayzes
dustry He told the TRUTH however when he said that
gold being boarded and that there is danger of
money famine. This alarming state of affairs the
suit of free silver agitation and safely be attrb-
uted to any other
The total money circulation of the United States in
1873 the date of the great crime, $751; SS1 800
S1SO4 per capita. The total money circulation of
1885, reported by the Treasury ST. SOC O26 or
S21 10 per capita These amounts do include the
money the Treasury during the years but
submitted the money actually in the hands of the pub
lie The increase in the per capita circulation should be
satisfactory evidence that there has been scarcity
money and that gold has not appreciated result of
closing minis to silver, inasmuch there is more
available money today for general than there was
when silver demonetized
Had silver been largely associated with monetary
system 1873 the claim that it was strcken down By
the great crime might possibly be established. Up to
that time entire coinage of standard silver had been
only IS OBJ 23S and total money circulation was
$751; 800, it will be that the exclusion of silver
as legal tender could have made no difference in the
value of gold.
Another proof that gold has not risen in value will
be found in the large increase of its production as COM
pared to the growth of population. The worlds pre-.
duction of gold since 1873 has exceeded growth of
population 80 per cent which unquestcnably
sufficient increase to satisfy any additional demands for
its coinage in the industrial The worlds
production of silver during the period exceeded the
growth of population 1893 per cent, which piled up
such oversuppy that decline in price was
inevitable To further establish the fact that nod