The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-09-09

1nan Gne supply. what is the supply IN
sight? Does he know that Germany still
full legal tender silver held back from
her silver sales because of falling mar
ket anxious to unload? th at France
with her $405, 900, 900 of full legal tender
overvalued silver, daily menace to her
gold, would welcome free coinage as the
hour of her deliveranoep hat outside
of the silver using countries, there are
over one thousand millions of overvalued
full legal tender silver money held by
gold standard countries, every dollar of
which they would gladly unload upon
US for our gold9 To this Mr.. Bryan
argues that none Of the coined silver of
the world will come here because under
there as money than here. Money? Sill
yer money abroad? Whence his earlier
claim that prices had fallen because sill
Yer was no longer money across the wat
er? Mr.. Bryan is lost in the labyrinth
of his special plea.
Who can calculate the vast stock of un-
coined silver in the shaps of merchan-
sweeps aside by the assertion. the boyish
assertion, that such bullion by reason Of
the labor applied to 1t will be worth
more as merchandise than as ooin. We
are not expected to know much about
silver, or money, in the East, but we do
know that solid silver ware is bought
and sold by the ounce at a price so slight
iy in advance of the bullion price that
the temporary profit to melt 1t for the
mint would be enormous.
Who can measure the annual produc.
tion of silver stimulated by ratio that
will be legal LIEF Who knows when
the hand of science will open the door
to the boundless wealth looked up in 10 "
grade ores? But "taat" says Bryan the
not tfhoA 40 Coniackrro - H0n ia0.
ure, when facts show that one third Of
all the silver mined since Columbus
landed on our shores has been mined
since 1878. Conjecture when the silver
product of the world rose from $81, ,000,- :
600 in 1878 to 1926, 600, 900 in 1895, an in
crease of nearly 800 per oent.. while
population increased but so per cent.
Since the
IMAGINARY DEMONETIzAIION
of silver in 1s73-a demonstration exist
ing only in the minds of olairvoyant pol
iticians-the world has produced three
billions Of silver, three-fourths of all the
silver now in use. Think you the sup
ply enormousp Think you the wit Of
man can measure 1t?
| ESince 1878 the world has coined two
billions of silver, and Commerce stag
gers beneath the load. From '75 to '9l
we bought and coined $685., 000, 600 until
| Confidence hid It's head and trade was
paralyzed. Yet, with all this vast de.
mand, silver has fallen year by year. moi
because of law, but in defiance of law.
| Can the demand for money in this
country alone, with the aid of Mexico
and of China, restore the price of '7a
wishout the conditions Of '7sf with ev.
cry mint of Europe closed, with Indie
out OF the market, with Chill. Venezue
la and Brazil no longer customers
| with Russia and Austria ready to change
| their paper into gold, with Japan plan
ming to join the civilized nations of the
world In the use of gold, think you that
with all our power we can raise the price
Of bullion the world aroundS Law IL
powerless to control the Judgment o.
all mankind.
4 In the light of this vast production
do you wonder the price has fallen
Where would bs the price of hay If thu
crop outran the growth Of the world witt
such amazing rapidityP
Nor is this all. The increase In thu
output of gold has met the worlds de
mand for metallic money. Gold alon,
fills the demand once met by gold ani
silver. In 1871 when all the nations o.
the world, save England, held gold ant
silver together, by ratio that ''echoee
the ratio of commerce." the annual pro
VI kOtQ nuO hlltoE WdS G6oO wv
900. In 1895 the production of gold nlon'
was $2Os, 200. 0O0 and the estimate for 189
Is sa5U, 900, 600. The new cyanide process
has opened up gold fields before unwork
able at profit Without it the Trans
vaal in South Africa would today be 9
wilderness, and Cripple Greek desert
! In the Transvaal alone mining engineer
; estimate three billions In sight. 1nsteat
of deartb Of gold Science promises
flood of gold, increasing In amount Al
the years roll on.
In 1893 Mr.. Bryan, with his rare powe
of prophecy, predicted q great decrease II
, the gold supply. He proved 1t by theo
ries as charming as the logic that f1oate
through the air on his trip to New Yorl
marched up the hill and then marched
down again." Scarce had
HIS ELOQUENT PROPHECY
died on the trembling air, before Scieno
with her magic band smote the barrel
rocks and ous from the bowels Of tn
, earth flowed stream of gold.
} Do you wonder shat silver falls 4
price when the gold production of toda
exceeds in volume the gold and silver G
twenty years agof Nay, more. when eye
SNS~Ase~>6>
the clearing house, the expanding US
Of credit and the achievements of soienc
eo0nomize the use of money! The ag
of electricity needs less money pro rat
than the day Of the stage coach. Ye
with less need of it, one half of all th
gold produced in the world since th
discovery of America has been produce
since 1871. At the beginning Of the GER
tury the annual worlds produotio
was $40, 600, 600. Population has il
oroased 200 per cent, the production {
t gold $500 per cent, twelve times as fas
! as population. Is gold CROWN
4 scaroeP
But the law, says Mr.. Bryan, the law
a The old argument Of ancient green bach
, ism once buried in the grave Of oommo
sense by an intelligent people. "Thu
q saith the law" has no force when COZ
. fronted by the laws of trade. Mr.. Bry
. an argues In q circle. He asserts the
8 the new dollar will be worth a dolla
4 because silver dollar will buy dollar
. worth Of silver bullion, and the bullto
t so bought can be coined into dollal
Why not enact law that every coin no
s in use shall be legal tender for twice Il
. faoea Let the law say what it mean
: You may call junk of silver q dolla