The herald., 1896-10-28

is a fool. So he who Is digging from the
earth metal more than can be used is
not wise. The United States spent $146,-
0O0,00O encouraging the mining indus
try by purchasing silver and lost $780,
100000 by the operation. That was suf-
ficlent encouragement and not let other
industries have a chance.
But l don't believe what Is being ad-
vocated is good for the mining industry.
They say the price of silver is to go up
to the price of gold. What we believe
is good enough for the future world but
it will not do in the business world in
the nineteenth century. believe silver
will go down. We bought 100000
ounces of silver every month. What was
the effect? That silver went down in
price from to so per cent discount. The
famous law of supply and demand has
two meanings; In the long run when
there is big demand for anything there
will be big supply, and low prices will
result. Take nails, steel rails. furniture
anything in ordinary demand and you
will find that prices are low. If buying
100000 ounces Of silver made it go
down 4S per cent what will buying the
rest of it do?
THE SILVER CONUNDRUM
I'm the first place gold is going out.
The Gresham law is the enunciation of
the fact that cheap. smooth-faced
quarter will drive out well marked one.
That we may regret but it Is as we find
it in this sinful world. Under such a
law gold is bound to disappear and sill
yer will take it's place. Ah but they say
the United States is so great that can't
be- Now don't let us be deceived as to
greatness. The United States is a great
nation but it can't make water run up
hill; nor can it cause the moon and stars
to shine at MONDAY. We can whip our
weight in wildcats, perhaps, but no mir
acles can be wrought in our behalf.
But they say give the farmers So
cent dollar and they can pay their debts
at half-price. Gold has been going up
for twenty-three years, they say, and
so a debt can be paid honestly in depre-
ciated currency. If any man has owed
a debt for twenty three years / wish
he'd get up and take off his hat and let
debt is just four years, so you are in
such case entitled to only four twenty
thirds of the advance claimed. But I
tell you it pays to be honest and it's
worth while to struggle to be so.
These old veterans ought to know
what a deprecated currency means
With the billions of revenue cut In two
how Is the deficit to be made UP to the
government, and the loss to the pension
ers made good? And whoever has a de-
posit in savings Institution and de-
preciates the currency Is foOling with
his own money and, unfortunately, with
that of many other men as well.
THE INSURANCE BOGIE.
I'm the insurance world, too, lesson
may be learned. Insurance has it's ori-
gin In the noblest feelings that move the
human heart-that by investment those
dear and dependent upon us may be pro-
vided for after our death. And this Is
done by piling up property in the insur-
ance companies that in turn loan it on
bonds and mortgages These, by free
coinage, will be deprecated one-half.
They have $1,114, 900, 900 invested but
that doesn't show the entirety of the in
terests threatened. Policies aggregat-
ing $40, zoo, 100000 will be affected and
most of these are held In the south and
west. Now you want to take these facts
homo to yourselves and think them out.