The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-05

ton. The Republican party has pledged itself
in successive platforms to labor to bring
about that international agreement. Adj
vanced thinkers in both hemispheres are
advocating the resumption of silver coinage
by the nations of the world but none OF
them has ventured to undertake the task
alone
The question is, shall the United States,
alone, undertake the free and unlimited
coinage of silver at ratio of Is to l.
(Cries of yes and repeated cries of MOI The
issue is whether the United States shall at
tempt to do that thing alone, in the face OF
the fact that every civilized commercial ma
ton upon the face of the earth, except the
Central American and South American states
years ago and before we did, abandoned 1t
utterly
Shall We for our own interests. stand along
with those nations with which we have
classed ourselves and who are leading the
march of humanity, or shall we go with
Mexico, South America, China and Japan
the rearward half of the great army of human
progress. and join those imperfect and rudi-
mentary civilizations which are an ocular
demonstration that no nation ever undertook
alone the free coinage of silver, that did not
deprive itself of gold entirely.
You know that every one of those nations
stands upon a lower scale of progress than
the nations which have declared the policy
upon which the United States now stands
The warnings of history are all against it.
The present examples of nations who singly
are endeavoring to sustain themselves under
a single silver standard forbid US to enter
upon voyage where we can plainly
sands of their course from the secure main
land upon which the American people now
stand, and from which our opponents are
attempting to allure them by false lights
and false alarms. (Applause.)
The world is divided, just as sharply as it
is by oceans and mountain streams, between
the gold standard countries, who employ con-
currently with gold. more silver money than
all the silver countries contain or circulate.
(Applause)
Senator Davis pointed out that every
free coinage country was on a silver
basis while every gold country used
silver and gold in amounts nearly
equal by money notions. Statistics, in
vestigations and records showed that
in every silver standard country wages
are pressed down to the very minimum
of a wretched subsistence. 1t is so in
Mexico, it is so in Japan, 1t is so in
South America.
If this is true" he continued cit follows
that the only practicable bImetallism on the
planet is in the nations with which the
United States has classed itself, and which
the new Democracy and Populism are en-
recommendation. (Applause). The bi-metal-
lism which this country and the nations OF
which l have spoken enjoy Is that upon which
metals can be employed in degree that one
will not destroy or drive out the other and
that both can co-exist and work together.
(Applause). There is a dividing line beyond
which you cannot pass in the employment
of the metal of less value without its driv
ing out the other and being entirely supplant-
ed by it, And l say that he who insists q
say it Logically that the United States shall
can acting alone, coin silver without
limit. required by the Democratic and
POpulist platforms, is not bi-metallist but
a silver monometallist.
1t is represented that gold has become
tyrant, that its power has become omnipo-
tent absolutely selfish and cruel; that it
has become a metal which great combina-
lions hoard and gather together for the op-
preston of mankind. The free coinagers as
r1,at, told thaA 81
output of gold is going to tend very much
and by natural processes to remedy this
question, that from One-half to one-third of
the gold produced in the world goes into the
arts This statement is probably exag-
geration 1t is possible that one-quarter of
the gold of the world produced annually
goes into the arts, and it has been doing it
for centuries. And consider for a moment
what an enormous sum, enormous aggregate
So 600 600, perhaps 81 1000, 600 600 lying
in the shape of golden ornaments thousands
of dollars of them in this room tonight. Now
want to ask you this question, If there is
a gold famine, If the power of gold is alb
Solute and tyrannical as it is claimed, If its
possession in the shape of coin gives it's
owners such sway over the destiny and for
tune of his fellow man. how is it that this
enormous amount of gold, perhaps one-thtrd
of that which is in existence coinage, has
not shown the least symptom yet of going
into the melting pot to be turned into coin?
The decentralization of silver, Sen
ator Davis stated. was but a catch
phrase. Silver had never been demone-
tized in the sense which that charge
was made, although many nations
which had approached that danger
were where one metal was driving out
the other, had refused to buy silver at
a certain ratio and price --
''They date all our woes from 1873 con
tinued the senator Now the value of all
silver coin in the world in 1873 was 81 SIT 900 :
0OO. In 1895 it was 81, 100 600 000 The value of
all the gold coin in the world IN 1873 was
$S.O45. 600 600; the value of all the gold coin
in the world in 1895 was 81, 200 000. 000 Of this
quantity of silver currency in the world in 1895
So, 900 was full legal tender Now at
tend to me for moment while the mathcmat-
ical deduction is made. By this statement
1t appears that the quantiay of gold in the
world increased, between 1873 ana 1895. only
$l20O,OOOOOO, while the Increase of silver
coin for the same period 81, 283, 600 060-
more coined in the twenty-three years since
1873 than remained UP to that time of all
the coinage of the world since Noah left the
ark lApplause) And nearly double more
silver has been coined than gold since 1873.
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 demonstration of silver since 1873, in
the face of this showing that. between 1873
and 1885 the coinage of silver was nearly
twice greater than that of gold? They talk
OF the demonstration of silver since 1873, in
the face of silver coinage throughout the
world since that year of over 81, 900 900 0G0 of
which $538, 444, 476 was minted by the United
States tApplause) And of gold, the United
L.
400, 6S3. And here, also is answered state
tanned and yet erroneous in fact that there
tanned and yet enormously in fact, that there
mas IN all this time been an enormous cCntrac-
ton OF the currency all over the world and
yet these figures conclusively demonstrate that
that statement is not true. A few DAYS ago
/ telegraphed to the director of the mint
regarding information upon these subjects
and he answered me: Hon. G. K Davis
st. Paul, Mimi. The total value of all silver
coined in the world in 1873 estimate to have
been $1Sl7 600, and in 1885, $4.100 COO coo.
me worlds stock of gold in 1873 is esti-
about 81. 200 COO, 600 R. E. Preston. Director
of the Mint" and the figures l have lust
given you are the figures in the telegram of
the director The greatest business transac-
lions in the way of finance on the face of
the earth and calculations are made upon
statements like that, and when what I
have said is discussed, the only answer that
will be made to 1t is probably that Mr. Pres
general-universal god-bug Oaughter0
NOW let me give you another statement
The coinage of the nations of the world for
1892 1898 and 1894 was as follows: Gold, $172,-
4 100 silver SIS5 81 S47; 1S93 gold, $685.
42O5lI; silver, $137, 952, $780, In 1894 gold,
S221 ,921 ,O62; silver, $113095 1888; a total in
three years of $1,039, 1880. 49S. With all de-
auctions for recoinage this output of coined
money is of immense volume
The free coinagers assert that contraction
has inflicted all the financial and economic
Inlserles that mankind has endured since 1879.
NOW they themselves cody propose to bring
ABOUT contraction of the currency of the
Onlteu states uneXampled in the worlds his
tory and fraught with more evils than are
~ recorded In the annals of human Woe The
unlimited and free coinage of silver in this
country would drive out the gold. This is
1ndfsputable as the law of gravitation n
has driven out gold in every country which
has uniimitedly coined silver There Is NOT
an enlightened gentleman who will talk to