The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-17
MEASURED BY GOLD" BUT FOUND
WANTING"

The difference between Mr.. Bryan's Chit
cago speech and his New York speech Is
very clear. The one was all assumption
and attack; the other was an argument
The one was an grafton; the other the
work Of a free silver togician. Whatever
may be said about false assumption of
fact or lameness In reason, IT yet remains
that the New York speech was from the
standpoint Of logic. In accepting II as
such no one need complain, for Bryan has
faced the essential issue in these words:
II am firmly convinced that by the open
ing OF our miHts to the free and unlimited
coinage OF silver at tho present ratio we
can create a demand for silver which
will keep the price Of silver bullion at &, -
per ounce. measured by gold. throughout
the world" In other words. "a silver dol
lar will be worth as much as a gold dol
lar" All his arguments about taking
away from gold what characterization of
silver added to it. and ito some extent re-
d1cing the worlds demand for gold" IS
urged so indefinitely that one may well
conclude that he has no faith IN reducing
the price OF gold. Had SIR. Bryan added
to his statement measured by gold
throughout the world at its present price"
the issue would not have been different
THIS Is the issue. Can IL be done? Can
the price OF silver be doubled by any COIN
age law the United States may choose 10
enact?
Leaving out OF question selfshne.s and
politics. q. disinterested man might well
be astonished that such a question could
seriously be asked lie has time and again
=
IS no real demand for the coined metal.
Coinage IS a private matter. The bullion
owner before coinage is the coin owner
after coinage-tbs government certiies
his bullion and returns IL 20 him. AL au-
thorities agree that coinage adds moth
ing to its value. The metaliists claim
that the demand for coin. a. money. does
effect the value. Wherefore the coin
owner viii take his coin where the demand
for money IS greatest As, for instance.
Mexico has coined about G.0O.Ooo coo OF
SILVER and has but $50 90. 90 in circulation. |
the balance having been exported.
II We should increase the pric. OF silver 1
here by creating q money demand for II 1
the tendency would be for all silver,
whether coined or not, excepting the To-
ken coins OK Europe, which are redeem
able in gold, 70 flow into the United States \
There s a demand for silver at preeeat
that takes al the silver at the existing
price
The silver countries furnish n. demand
which equals the present price. II IL were
possible TO double that demand IN the
United States 50 that The eKEtszx price OF
siive would be doubled the res1lt would
be this: Double the price OF silver Il Tire
silver countries with the prese1t demand
ana they would give Up one-half os their
stock Why Their whole demand equals
,ne pric. But make q double prize and
hat teznaod would only equal ole-haK
he volume 80 now commands 60. " IL
re-e poss<s,e % double the p<sce Of silver
re might safely count on a bllsoa o. t~o
rom foreign coins TO swell cur "-z-
hest e. ssfv>r. But as this. 20 szy rots-
M Of stocks OF silver he'd for specuizsien.
<ouId mere thz1 I'll u needs. 'roez-
-ur>d ~ gold" particularly - view %
rs present. or stimulated productso1 o
liver. there vsnid be most rzs4 d.
Lire IN silver.
Another tAfrx n cor-ecsso- win
aeasursnx silver By gid ~ozG - Ire I
AGILITY & would furz3sa <sr eouoSi-< c>ets !
y tie silver ccznt1es- II tsls ts % - sc- !
nonsaed cur pluaccrats might rnI q I
IRE way 20 make sse rcss rsSe>r AMI tss I
liver countries p-co- poorer ~ i1Fe<-
e Il marriages AID ess>r s>c2r-o>s N !
h>ss countries. since measuring silver !,
y goks" would mean al Increase - It's ,
eotors bz-<ez. s&y - per eesI i al =
o, auzserizes 70 SPEAK fer tie sectors q J
aver ce1zsrse<. sst th<T nsy - zssssrsd q
Z E.y syze4,Ases n tes ces,ztson l,sg - =