The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-09-17

find that there are very few creditor nations,
and they are principally England, Germany
and France, for Belgium and Holland do not
ngnre largely in international transactions.
Where is this gold located? We refer to the
statistical report of our Mint Director, and we
nnd that to-day $1,000, 100000, one-half OF
sne accumulated supply, is located in Eng
LANG ia, france and Germany, and the other
@ZOOo, 600, 600 is scattered over the rest OF the
world, but is tied TO these countries by the
strings of bond and mortgage, SO that it can be
Wltndrawn at any time by the action OF the
creditor nations through the sale of securities
In the country that has issued them.
rms is the age of trusts and com bines. The
PreValilng IDEA is to control some product,
limit the production, raise the price and make
a proht. The scarcer the thing monopolized
the more efficient is the trust or combination
Throughout the ages nature has only Welded
enough gold, in visible form to-day in the
shape OF money, to fill cube of twenty-five
feet. What more favorable subject could
there be for combine or trust than gold?
And VINO would organize such q trust? The
people who own the gold. And how would
they make that combination effective? Not by
limiting the production of gold, because that
Is limited enough; but by destroying the use
OF It's only competitor-silver-whic through
out the ages and until 1878 stood with gold as
one of the acknowledged money metals. The
production of money was to be limited by the
destruction OF the use of silver through legal
enactment, by denying u coinage and legal
tender equality. And this the United States,
persuaded by some occult influence, proceeded
to do in 1873.
pended, as they had been during the entire
war, and there was no accumul 4ted stock of
| either gold or silver in the country. Yet our
country led the crusade of the debtor nations
against silver And though Providence had
exposed the richest silver treasures as means
with which to pay our great debt contracted
curing the war, this country owning no gold,
having no interest in the gold trust, but the
greatest producer of silver in the world, the
greatest debtor in the world owing debts
which II had obligated itself TO pay in coin,
either gold or silver, absolutely denied itself
at time when the silver in the silver dollar
was worth cents more than the gold in the
gold dollar, the power to use it's silver mines,
and not only destroyed the legal tender quail
ity of the ting silver coin, but denied silver
bullion admission TO It's minis, so that not an
ounce OF silver could be turned into legal ten
der coin. We thus became the greatest Gus
toner in the world OF the gold trust. And the
result has been the aceum ulation of q foreign
debt unequaled in the history of the world.
Butwe are told that the production Of gold
is largely increasing and that that will make
up LOT the obstruction or silver as money. 1t
is u ue II has increased, for everybody is look
ing for 1t. But the production is by no means
commensurate with the wants OF the world
The dominant position of England France
and Germany will be increased so long as the
gold standard is maintained by debtor nations.
Mr.. Newlands contended that the Re-
publican platform confined an inter
national conference to the leading COM
merc1sl nations of the world. These ma
tons were England, France and Germany,
the benehciaries of the gold trust. Was it
ever known that the benefciaries of
monopoly would willingly relax their
grasp?
AS 70 the accumulated stock of coin in the
various countries none of it would come to our
minis. 1t is III actual use as coin, and no ad-
vantage would be gained by simply changing
the stamp
The exaggerations concerning silver are
marvellous. One would think from the news
paper accounts that every storehouse ana
vault was bursting with silver. As matter
of fact, and you can refer to the Mint Director
as authority, all the silver coin in the world
amounts to little less than 81 900 600 600
and all this coin can be put in a cube of sixty
six feet, or space about the size of this audi
forum. This proves that there never has
been enough metallic money produced to sup
ply the world.
The people of the United States cannot wait
for the slow processes of international ar
rangement even with debtor nations.
1t is clear if we maintain our greenbaek sys-