The herald., 1896-10-11

514,903,142 in the country, with popu-
lation of H,51S,000 and per capita Of
$21.1S, and fully es50o.O0O.OO0 of this is
locked up as a reserve fund in the banks,
etc.. Of the United States. and this only
gives us present per capita of $13.3s.
Per capita statistics, any how, are very
uncertain things to go by. 1t is some
thing like the story of the old negro and
his master. The negro said that he and
his master had eight and half shirts
between them; when asked to explain
how this could be, he said that his
master had sixteen shirts and he had
one, and this Is the same way It Is in
our country today, for 10 per cent of our
population control 70 per cent of the
wealth.
The fifth and sixth articles mentioned
IN MIR. ButterwOrth's speech answer
each other, and any comments are un-
necessary upon them.
The seventh statement can be very
easily answered by any thinking man.
To raise the price of our silver bullion
from 30 cents to 81 in value and give it
unlimited coinage, it would double the
amount of dollars that could be coined
and would give us twice as many dollars
In circulation and make the money
easier to be obtained, and, therefore
that much easier to be paid. What
would keep up the value of the dollar
under free coinage to par would be the
ceive these dollars in payment of all
taxes. customs duties and all other rev.
enues, and to show that silver would
rise In value it Is only necessary to state
that In 1890 when the free coinage bill
was passed by the senate and a poll Of
the house showed 1t was likely to pass
tnere silver advanced in Lombard
street, London, from "a cents an ounce
TO $l.2O In twenty-four hours and stayed
tnere until the free coind0e clause was
left out, when the Sherman bill was
fnally passed instead when it imme-
dlately commenced to fall
The eighth point mentioned by Mr.,
Butterworth is in direct contradiction
to the claims and arguments of the gold
monometallist and proves that the same
laws apply to gold as to everything else
and that gold is not more staple in its
intrinsic value than silver.
Mr.. Butterworth's main plea was in
waiting for other nations to help us out
and IN his famous letter he says: 'Is 1t
not folly to suppose that the capitalists
Of England-and they are the capitalists
OF the world-will be easily persuaded
to agree or consent to bimetallism? Why
should they? How Is it to their interest
70 90 SO while we consent to make 1T to
their advantage to refuse? They have
doubled the value of their credits by de-
monetizing silver, and this in effect
doubles the interest received by them.
The United states blundered into the
trap, and within year beggared a mill
lion Of her citizens. anG IL we adhere to
the blunder, will beggar 5000, 900 more
and double the burden Of every debtor
and burden bearer in the land. If It be
said the United States cannot act alone,
the answer is. conditions are such thar
she must give notice that she will act
with England If the latter consents,
otherwise she will act alone.''
He now claims that all our troubles are
due to the tariff question, but he does not
tell the people that even if Mckinley is
elected he cannot pass q tariff bill be-
cause the senate will not do SO until con-
gress grants silver its rights Last April
he attributed all of our troubles in his
very able letter. to the silver question.
He says that Mr.. Mckinley and he are
In favor Of silver, but he fails to explain
why Mr.. Mckinley now argues and ad-
vocates the gold standard as being the
best for our interests and says almost
nothing about international bimetallism,
proving and showing conclusively that
1t is not bimetallism the Republican
party, as representedS by Mr.. Hanna.
wants and II there are any doubts about
this question they could be very easily
removed by listening to two-thirds Of
the Republican orators, all of whom
base their claims entirely on the beau
ties of that self-same gold standard.
N'r. Putterworth now claims that we
hould pay our foreign obligations in
SouAu money (naeaninE goldl while In