Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-09-25

discovery Ol gold In California ana
Australia gold increased more rapid
~ in production than silver. and
from 1850 to 1870 OF 1CO pounds ~
gold and silver produced about is
pounds We're geld and "a pounds
silver. The value Of one ounce III
gold had then continued to be about
one ounce of gold to 15A ounces Of
silver. The production Of silver then
began to rapidly increase. aud for
the next twenty-five years from 1870
to 1895, of every 100 pounds OF gold
and silver produced In the world
about 5 pounds were gold and IS silver
Silver had now fallen 50 in value by
reason Of this great relative Increase
that one ounce OF gold would now
buy 81 ounces IT silver. In the first
named period, 1850 to 1870, the pro-
duction Of the metals by weight was
about pound of gold to5h of silver.
during the time from 1870 to 1895 the
production 1T the metals was about
l pound of gold 20 10 pounds Oi sill
YER. And the production Of both
had been enormously increased. In
1870 about 5000, 900 ounces Of gold
were produced and 43, 00O, 900 ounces
OF silver. In 1895 gold to the amount
Of 9,S2O,l25 ounces and silver to the
amount OF l74,796,S75 ounces were
produced in the world. The produc-
ton of both metals was the largest
in the history of the world.
The claim of the opponents Of the
Republican party that half the
money Of the country had been
"stricken down" in 1873 was absurd.
While at that time no coin was In
circulation, silver dollars had not
been in circula ton siEce 1884. Before
the war the only metal money In cir
culation was gold, except the silver
pieces of so cents and less. and they
did not have the privilege Of free
coinage. ard were legal tender only
for small amounts. The paper mon
| ey then in circulatiOn was state bank
notes. with their uncertain value.
In 1860 the percapita circulation was
$l3S5 In 1873 the money was green
backs, national bank notes and
"shin 'lasters," and the circulation
was $1S.04 per capita. At neither Of
these dates were there any silver
dollars in circulation. The paper
money was then at Il discount COM
pared with gold. In 1895 the circu-
lu,ion was $22.93 per capita, and
included gold, silver and paper, all
Of equal value, and all good as gold.
Since 1873 the government had coined
over 4O0, 900 900 of silver dollars, and
they were all represented in our cir
culating medium. Never before had
the American silver dollar had any
important place in our money sys-
tenn, yet the Democratic and POpu-
list parties made campaign on the
issue that silver had been deprived Of
it's former high place as money. The
figures given could not be disputed.
and their truth exposed the falsity
of the free silyerites' claims. The
claim that the adoption OF free silver
coinage in this country would double
it's value compared with gold In all
the world was unreasonable, and no
probable ground for their alleged
belief could be given by the free sil-
verltes.
The opening of our minis to free
coinage at 16 to l would place the
coin value and the bullion value oi
the dollar the same. The silver dol
lar would fall to the same value us
the Mexican dollar.
The possibility in 1898 that the
ma ton might be forced to silver
basis by the large purchasers Of
bullion had brought on q financial
panic. and the actual adoption OF Il
silver standard. would cause the
great test hardship and distress to all
llilCS ~ Nu?IuCS3 anu w SIC pCopEs
The price of goods would increase.
but the market would be decreased
by the panic. Wages would Increase
| slowly, If at all, and there was nbs0-
lutely no promise that the working
man would not lose greatly by the
change to Il silver standard.
He declared the only way to re-
store prosperity was to elect Win.
Mckinley president.
He spoke good word for Page
Morris, and urged the election OF
Gov. Clough. II Il free silverite was
elected governor. people would look
on us as long-haired Popnlists.