The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-25

out that during all the seventy years TIA.
France was coinfng silver. the principal
nations OF Europe were Also coming silver.
that the total supply was but two billions
tina. the sapply was hardly adequate fos
the demands OF China and the east.-for
coinage and for the arts I must again
tell him, il was the French mint price
that fixed the ratio Again IL he should
say the money demand OF the silver coun-
tries consumes the silver at the present
price but il you double the price Their
demand would only be equal TO retain one
half their present stock. you direct me 10
call him a person who has not mastered
this problem
But, seer, when he asks me row II Is.
that when the whole bulk of silver Is de-
manded and consumed and so firmly held
in the esteem Of silver countries that they
could not be induced TO give II up unless
the price paid was sl.S per ounce or
more, there could be any struggling odds
and ends of silver that could be had TOR
the insignificant sum Of s. cents an ounce,
what shall 1 say to him? I cant evade
that question, for you say there is some
amount, very small. of course. that Is
only worth IS cents per ounce. for this
1--WE have to lift in value from IS cents an
ounce to 81 q per ounce" How did these
people take the great bulk OF silver at
81 p per ounce all up and leave just a wee
bit that they might have had 50 very
cheap. for 6s cents an ounce? This ques-
tfon gives me some trouble.
During the seventy years OF French
courage that our financial philosopher re-
fers TO, all the leading nations OF Europe,
except England. were coming silver: the
production in those seventy years was
two billions: the production In the twenty
three years following was three billions.
being almost FIVE since 10 TO one before;
since 1873 all the ra,tions OF Europe have
ceased to coin silver save as token money
France rot excepted; the use OF gold In
the arts has averaged fIum 50 10 IS per
cent, since 10 as well as before "a mere
coincidence): the use Of silver has been
three TO one for the arts prior TO 10 and
! 10 since '7s "a mere cofncidencel: al
these shings give no trouble. To those
WHO have mastered this problem. and it
IL a very simple one in finance" the iea-
always lifts the lower priced metal up
to the higher priced metal Stick pin
there Yet hsve not been able 20 salts
factorily answer the two questions:
First Taking for granted that law fixes
the value controls the parity. how. that
in both cases a mistake was n,ade"-that
is, IN T7ss making the ratio TO Is, and n
1894 making the ratio 90 IS7
Second In view Of the worlds money
price on silver being 81. - or more, how
does II happen that there are some insig-
niffcant amounts of silver to be had at
IS cents an ounce-which is TO be lifted
in value from IS cents to s.. - per ounce7'
(Since writing the above a goldbug tells
me that during the existence Of the Sher-
man law we bought ffty-four million
ounces OF silver per year at prices rang
ing from 80 cents 20 20 cents an ounce.
and could have bought as many more
millions more at the same price had II
been required All such nonsense should
be disregarded)
BY the way. IT was a great oversight
in Bryan to say: That Mexbco has fail
ed to do this traise silver to N.9 per
ounce) is no proof that the UnitedStates
would also fall The Beacon" without
specifically referring TO Bryan's oversight.
has corrected the impression by saying
OF the Mexican dollar: 1T Is dollar In
Mexico now with the stamp Of the Mex
lean government affixed" Affixed" Is
good. and with this Hight Mr. Bryan will
probably "affix some explanation when ne
replies to Bourke Cochran
had almost overlook one other matter.
You say: The free coinage OF silver
would furnish a market for every pouzd
Of roduce raised IN Kansas. II woubi
furnish a home market for the Kansas
farmer. and relieve him from cornpeti-
ton with his eastern brother in the al
ready xiutted markets Of eastern Europe.
The advantage gained by a home mar
ket viii be very great To have Liverpool
nrtces IN the heart of the Rocky noun
tains viii give Us opportunity 20 laugh
at our eastern brother. He may fooI
along with "the already giutted markets
OF eastern Europe" while we have
home market" This reminds me OF the
besotted ignorance OF a street talk OF
few days ago. 4 goldbug was hooting at
this 3asa. He said Colorado raised more
heatw than she consumed. more pota-
toes than she could use and in word
thirty millions annually, which was a gum
e-sater than the product Of her god snd
silver mines Such ignorance BE also
said that she imported Eve D1'lhons bust
els OF corn, but that Kansas and Ne
b-aska alone had profuct 81 % miiiioFs
bushels. He sad the wheat production
n. Kansas. Nebraska. the Dzkotas. Mn I
nesota, with the Other states 10 ne west
was safHcient 70 sustain population a
forty millions greater tsan the present
rop,IIatfo-s That Ia oT'ier 20 support this !
ropuiatioa we woUbd have 20 pct some
eight or tea million u1~n 20 WORK 81 fhe
silver rain<s he sst,-nztsd that - ro1Ai
require a product % thirty Millions a day
or rf,e billions = year 90 silver 20 ray ihs
miners and thzt IN les fhan f-enfy-Av~
years re co-11s hzv~ n circulation az TO
srflIons or silver rnonsT. Al re mar
vho was s-xufyinx z>;h hin sais
"Ho1kn't prices - a bocrnlr' thoazr - 4
OF cor-se tre Eo,SbGR's srz-1naenf zsz az
erazre-a;son I; al rot n The iess; /
initiate szssns; ne Er.at saz7is<e q a +
home rarke<- ard % TIRE great bocyn 4
tssztvouis hsfsli -. ~ I4verrcos prices 4
WIRE NAB n ffe hes-t az thr Rockies ia- 4
stead - =, Liverpool
7 confess - wsr. 80 make an as1n>-f
ur-o1 tbs p1snt. woaE Ike so-ne fsr'se-
from On. who Asz e-srtnsi 4
re- question ard sr5erp,arss e.
Wish profound scxn-o~lE3 Krle1fs ~ -
urst have received. wiss th9 boz 49,
oc- unknown seer. 10 thaf c's-S 20 Tse-a
frzo = = alszFs r8ch . s'-nT'e Trses7isrs
may continue har -r-se-ssgns % hat . f'ns-
.ie. :Hs--fi-< .o- f1,1--nafsoz fhcez1 = =
,sFs s,-fsns.r -1-ss-tsor - 49, ftar -