Evening journal., 1896-10-19
Inc product in the
the same period was:

The value of property in the United
States in the same period was, real and
personal: 1850, s7,135,7 5,7SO, ,2SS; 1860,
S16159 6l6,06S; 1870, S3O,O6S, ,5O7;
1880, $43, ,642, 600, 900.
These tables show that the produc-
tion of gold is gradually but regularly
and certainly decreasing-in the United
States, from S50,000,000 in 1850 to $780,
100000 in 1888; in the world, from
S13l 270 900 in 1850 to S94.027. .901 in
1888. That silver in like manner is
gradually but certainly increasing in
Quantity-in the United States, from
$4,000 in 1850 to s46,2O000 in 1883:
in the world from $36,S26, 800 in 1850 to
$114.217,73 in 1888. That the two
metals together have kept at quite an
uniform aggregate. being. in the United
States, S50050, 600 in 1850, S76,O0O,0O0
in 1888; in the world, S16S, ,O96, 800 IN
1850, S20S 245 634 in 1888, showing
gradual but uniform increase, but in
the aggregate not equal to the marvel
GUS increase in the value of property
which in the United States increased
from Sll35, ,7SO, ,2S8 in 1850 to S43, ,642 .
600 600 in 1888.
These tables show conclusively that
in the last fifteen years the production
lively settled. Neither is subject to
great fluctuations The product in each
is regular and accurately measurable
gold a decreasing, silver an increasing
factor, the two keeping an equilibrium.
but tagging in the race with increase
Of wealth of which they are the meas
ures.
1t follows from these facts that pay
ment in the silver dollar will not scale
the public debt but would give a fair
equivalent for that which was receiv-
ed. All legislation since 1860, except
the Bland act of 1878, has operated in
favor of capital and the lending classes.
Debts created in paper money at 50
cents on the dollar, and payable in pa
per, have been made payable in gold
and silver coin of 100 cents on the dol
lar.
In the same direction we are now
asked TO discard one Of the constitu-
ticnal coins Of the country that has
the lowest relative bullion value ana
compel the payment OF the debt in the
coin of highest bullion value. and
which will be made more valuable bv
the very fact of such decentralization.
II is a significant fact that the very
men who are so specially sensitive on
the score of silver debt-paying repudia-
ton, have almost uniformly voted
against the redemption Of the trade
dollar. which was a reputation OF
honest debt that is an abiding stain
upon our national reputation.
Private debts, if paid in silver dol
lars. would be paid not only in a fair
equivalent, but in many instances in
the same kind of money in which the
/ debt was created. II is estimated that
one-half, at least. of private debts now
/ existing have been incurred since the
Bland act has been in force, and in
contemplation of its provisions.
To provide now that the silver dollar
which the debtor got as a loan shall be
/ drawn out of circulation, the debt made
| payable in gold. thereby increased one
fourth, with his ability to pay decreas-
ed 90 per cent. would be a monstrous
financial crime Yet this is the prOpo-
1 siton. Under the guise of protectine
national and individual credit and
4 honor we would add unbearably TO the
burdens of the people. Soon the in.
evitable result would come: The lender
must take the debtors property, which
the law will have made him unable e
redeem.
The continuance of the silver dolla,
, coinage will. therefore, scale no debts
public or private, while discontinuanc
! will increase the money stripgenc.