The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-26
Gus fuctuation for two hundred years,
Notwithstanding the fact that

notWlthS landing the fact that
THE ANNUAL PRODUCTION
of each metal varied greatly from time
TO time?
"Fourth-If only one of the metals
can be. a standard and measure of
the value of things and if a combined
standard of both gold and silver is as
impossible as it is to conceive of, two
yardst!cks of different lengths, why
was it that some of the greatest finan-
ciers Of the world, and particularly
Baron Rothschilds, stated in 1869 that
it was the sum of two metals taken,
together which formed the measure of
the value of things? No matter which
metal might for time predominant,
nevertheless the sum of the two taken
together was the measure of value of
all property. If the same countries had
STRICKEN DOWN GOLD
by law and destroyed it for monetary
uses and made silver the sole standard,
would not silver have gone up and
the purchasing power of gold gone
down?
"Fifth-Mr. Carlisle should have ex-
planned why it was that in every
country where silver was stricken
down, it was done by the arbitrary
act of government and neither COM
merce nor business had anything
to do with it.
"Sixth-It is a fundamental law re-
cognizad by all gold standard finan-
ciers except recent. converts that when
the volume of money in the world is re-
duced the selling price of all property
and commodities goes down cores
pondingly. Therefore the wiping out
by law of nearly all the money of the
world had reduced the selling price
of commodities proportionately And
inasmIch as the debts were not re-
duced as interest was not reduced, and
as taxes were hot reduced, does not Mr..
Carlisle think even now, just as he did
in 1878, that
A GREAT CRIME WAS COMMITTED
against the entire debtor class and
against the producing class by bring
ing about a condition of affairs by law
which compelled the debtor, the pro-
Queer and the laborer to sell twice as
much property or labor as were for
merly necessary to get the same
amount of money?
"Seventh-If prices are so reduced
that it takes everything the debtor can
get together to pay his fixed charges
and everything the laborer can get
together to bur a little coarse clothing
and plain food for his family, can
either the debtor or the laborer spend
much money buying other articles and
if he cannot, then must that not result
in the destruction of what we once
called our great home market? If
this is destroyed so that our great fac
tories and industries are unable to dis
pose of their productions must they
not shut down and throw labor out of
employment? Is not that exactly what
has happened in this country?
''Eighth-As the laborer prospers
most when there is large demand
for the articles he creates, does it not
necessarily follow that until there is
A RISE IN PRICES
SO that the debtor class and the pro-
ducing class can again do large mis-
cellaneous buying there is no hope for
the laborer?
''Ninth-As there cannot be a gen.
eral rise in prices without an increase
in the volume of money, must not the
present paralysis and sscagnation con-
tinue in the world until the volume Of
money is again restored to what it
was before silver was stricken down?
''Tenth-There are in the United
States over nine thousand banks, in
Guiding national, state and private
The comptroller of the currency, one
of Mr.. Carlisle's assistants, received
reports from these banks showing the
total amount of money of every kind
that each bank had on July IL, 1885
From this report it appears that there
were in round numbers only $127 900 900
of gold in all of the banks of the
United States. This was
ALL OF THE AVAILABLE GOLD
in this country. There were about
S1OO,0O0.000 in the treasury at that time
but this is not available. Mr.. Carlisle
did not refer to these figures, which
are known to be accurate. But instead
he cited the figures given out by the
director of the mint, also one of his
assistants, in which he claimed there
are about $60O0OO,OO0 Of gold in this
country. Mr.. Carlisle must know that
/ these figures are incorrect, and that
the tables given out by the director
of the mint on this point are worthless
because it appears from his report for
1892 that he assumes that every dollar
put in circulation since 1872 in this
country is still in circulation except
where a record was made of it's ex-
portation, and that he has made no
allowance for the money that was
carried over the northern boundary
and our southern boundary for twenty
four years, Nor for the money
CARRIED BACK BY CHINESE
during that time, nor for gold coin
used in the arts and not reported dur
ing that time, nor for all that was lost.
nor for all that was carried across the
ocean in the pockets of our people dur
ing all those years. Yet the director
says in his reports of 1891 that during
the Paris exposition the total spent by
our people abroad in one year was
over S90000,000. Why does Mr. Carlisle
use figures that he knows are incor-
rect and are manifestly given out only
for the purpose of misleading the
American people on the question as to
the amount Of money they have in
circulation?
Eleventh-A year ago Mr.. Cleveland
sent for his former law partner and
close friend, and through him Mr..
Cleveland and Mr.. Carlisle, together
made a secret contract with another
friend, who was a former client of
Cleveland, by which that friend and
HIS ASSOCIATE SPECTATORS
were enabled to make nine or ten mill
lions out of the government in a few
weeks on a small bond transaction.
And the reason given for this
extraordinary and even criminal pro-
cedure was that the Spectators and
sharks of Wall street had agreed t6
protect the government against the
gold raids until the following Novem-
ber That is, the wealthies,t the most
enterprising, most powerful most in.
dustrious and thrifty nation on the
globe paid tribute to a small band OF
spectators for protection. And when
the month of November arrived these