The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-10-15

Party Declared for Silver Mono
metalIism
First-That the free coinage of silver
will make honey plenty.
It will not. It will drive more than
5000, OOO, 900 Of gold out Of the country,
and it will require years of work by
the minis to replace this amount in sill
yer.
SeconG-That silver was demone-
tized in 1873.
1t was not. To 'demonetize" means
to abandon the use of money. Up to
1878 we had coined only 100000 Of
silver dollars. Since that time we have
coined 423.OOO,OOO full legal tender sill
yer dollars, and they are all in use and
all full legal tender
Third-Tfat the present hard times
result from the gold standard.
One cause of hard times is the con-
tinued agitation for cheap money. I'm
der the old standard we had uneXam-
pied prosperity until the agitation for
more silver and low tariff unsettled
business.
Fourth-Tkat the old standard has
ruined the country
The wealth of the country more than
doubled from 1870 to 1890.
Fifth-That the gold standard has
cut wages in half
From 1870 to 1890 waes increased %
per cent. and their purchasing power
81 per cent.
SiXth-That Silver is not legal ten
der
Silver dollars are leal tender to any
amOut for debt. public or private, and
subsidiary coins are legal tender to
the amount of $40
Seventh-That free-coinage will make
81 IA grains of pure silver sell for
81.
Threefourths of the earth's popula-
ton have free coinage of silver, but
81 IA grains of silver sell for SO
cents
Eighth-That the dollar of our dad
dies must be restored.
1t was restored in 1878, and over
423, 100000 Of them have since been
coined.
Ninth-That silver has fallen in val
ue because it is denied free coinage.
Silver began to fall 173 years before
we stopped free coinage.
Tenth-That this country is big
enough to adopt free coinage and re-
stores silver's. value independently Of
the rest Of the wcrld
If three-fourths of the people in the
world have failed. how can 100000
people succeed?
Eleventh-That the "mcney power
has cornered gold and made money
scarce.
There is IS, 7S6, 437 600 of gold in the
world. and no combination could posi-
bly, corner it.
Twelfth-That we are being driven
into bankruptcy by scarce money and
high interest.
In 1873 we had 1883 per capita; in
1894 we had 1854 per capita. Since
1873 rates of interest have fallen so
per cent
Thirteenth-That the larger the vol
ume of currency the higher the prices.
France has S35.77 per capita; Swift
erland has ,S997. Prices are the same
in both countries.
Fourteenth-That primary money
only is measure of values.
Gold is the primary money of both
France and Greece France has 1921
gold per capita; Greece has only %
cents. Prices are the same in both
countries.
Fifteenth-That free silver will make
the farmers wheat sell for 81.
But that silver dollar will only pur-
chase what SO cents will buy at pres
ent.
Sixteenth-That the silver men de-
mand bimetallism.
In his Centralia speech, W. ]. Bryan
said: 'The Democratic party has de-
clared for a single standard Of silver"
That means silver recommendation.
Seventeenth-That free silver will
raise wages
From 1860 to 1865 a 40 1-2-cent pa
per dollar raised prices 116 per cent,
and only raised wages 43 per cent,
compared with gold wages of 1860.
Eighteenth-That free silver will
raise the price of silver to $1.29 per
ounce.
With an annual purchase for coinage
of $3.50 tons per annum, the price fell
from SLIT to 7S cents between 1890
and 1893, and the production increased
Sc per cent.
Ninetecnth-1hat nature has fixed a
ration of 16 to 1 by yielding annually
at the mines in weight about sixteen
times as much gold as silver.
This is not true. The ratio in which
the two metals have been produced
has varied continually and very great
ly. According to the most trustworthy
statistics we have, the ratio of gold to
silver produced was about 1 to 8 from
1893 to 1920: about 1 to AZ from 1854
to 1910, and less than 4 10 from 1854
to 1860. Between these extremes the
ratio has varied very widely.
nnanfitv Not Oua1itx