River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1896-08-20


perhaps of capitalists. hoard and gather
for the oppression of mankind. Now let
me call your attention TO one fact The
free-coiners assert when they are told
that the sod outnut of gold is going
TO tend very much and nv natural pro
cesses TO solve this question. that from
one-balf 70 ona-,hird 81 tho Gold annually
Produced in the world goes into the arts.
This statement is probably an exaggera-
ton. Ii is probable that one-quarter of
the gold of The world nroduced annually
goes into the arts. and il has been doing
Il for centuries. Consider for a mo-
mant INV fellow citizens what an enor-
mons sum s,ormons sggragata-three
h;Ilions narhans four h;iI;nns az dollars
ara Ir;,a - H. sbaro nf Golden orna.
..e,t o,,s.S 20 tSa,in-e nf ,ha,, in
- -. .o;.L. "a -, 20 asL
Ills ~. uoon .ons'' 80 LA fsm-
~. ;e ~ que sr "a III - ahsointo
ene poMel VI soiu s;,.o5 ;e 20
anu ss VA ~ as 10 sia ann - 10
possession III eie snaPe ~ ~ "a
eMner sueh sway over tne uesln9 any
fortune OF MS iehoW man, now 10
.hat tnls enormous amount OF solu, per
maps one-third OF that when Is IN exist
ehee, mas not SNOWY 'ne east symptom
turned into coin?
But we hear great deal about the de-
monetization of silver, and one would
think TO hear our free-coiner friends de-
claim that silver had been entirely de-
monetized, that by some malign infiu-
ence the money function of silver
throughout the world had been entirely
abrogated. and il is very catching
phrase. 1t has been very catching
assumption, for l will not call il an aIsu-
ment.
Now, | say. my fellow citizens, that
properly considering facts, that state
ment is inaccurate. not to say untrue.
assert that silver has never been demon
cited in the sense in which that charge
has been made. (Applause.l Demone-
tization means TO divest of standard
value as money, and | say this has not
been done with any dollar of silver coin
that was ever minted at any mint. ZAP
plause 1t is true that many nations
who have approached the danger line of
which | spoke a few moments ago, when
one metal drives out another, that many
nations have told the owners of silver
which Law concealed in the earth we will
not longer buv n AZ a certain ratio and
AT a certain nrice Even that has not
heen entirely done and | repeat nv
statement that the assertion that silver
has been demonetized is one calculated
TO mislead and is not true in fact.
fhe Crime OF TO-
All our woes are dated from 1913, the
period when the free-coiners persuade
their disciples that, TO use their stock ex-
preston, silver was demonetized, or that
one-half of the aggregate wealth OF the
world was struck down at blow. Now
let us bring this statement TO the crucial,
absolute test of figures, of what records
and statistics say upon this subject, and
not trust to the vague defamation of
any person. The value land | will give
mOment), the value of all silver coin in
the world in 1873 was Sl,Sl1 100000.
In 1893 il was S4,lOO,OOO,OOO. The
value of all the gold coin IN the world IN
1913 was S3.O45,OOO,OOO; the value OF all
the gold coin IN the world in 1870 was
1900, 100000. OF this quantity of sill
yer current in the world in 1895, SIS, 439, :
300. 900 was full legal tender. Now at
tend to me for a moment while the math-
ematical deduction is made. By this
statement il appears that the quantity
of gold in the world increased. between
1873 and 1898, only S1,20O,OOO,OOO,
while the increase of silver coin for the
same period was ZS3,OOo,oOO-nore
coined in the twenty-three years since
1915 than renamed up 10 that time OF
all the coinage of the world since Noah
left the ark. tApplause.) And nearly
double more silver has been coined than
gold since 1913. what becomes, then, OF
the assertion of the equal and equable
production of silver and gold from year
to year since time began, and of the de-
monetization of silver since 1913, IN the
| face of this showing that, between 1873
and lS9o the coinage OF silver was near
ly twice greater than that OF gold! 1hey
talk of the decentralization OF silver since
1913 in the face OF SILVER coinage
throughout the world since that year OF
over S2,OOo,OOo,0OU, OF wnlch So5o,,
444,46i was minted Dy the United
States, tApplause.) AND OF gold the
United States mlnted during the same
period S93I ,46O,6o3. And here, also, IS
answered a statement confidently made
and plausibly maintained, and yet enron
eous in fact, that there has IN all this
time been an enormous contraction OF
the currency all over the world, yet
these hgures concluslveiy demonstrate
that that statement is not true. Now,
my friends, l have not taken this from
the statistics of any other speaker or
from any other book l know where the
statistics are gathered with the care
which commands the respect ana CONN.,
dence OF the civilized world, and on the
10Th of July (only a few days. ago. l
telegraphed to the director OF the mint
regarding information upon these sub
jects, and he answered me:
Hon. q. X. Davis, st. Paul, Mimi:
The total value of all silver coined in the
world IN 1913 L estimate 10 nave been
81. Sl1 .OOO,OOO and 1879 81, 1OO. DOC. 600.