The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1896-07-25
Other Gold and Silver Facts Worth
Remembering.
From the Baltimore sun.

Messrs. Editors When your able CORE
spondent, Mr.. w. Y. Perot states that there
is hardly single debt in existence today
which was incurred prior TO the year 1878 he
evidently overlooks the hundreds of millions
in Indebtedness represented by longtime
bonds, mostly fifty years. issued by our ma
tional, state, municipal and county govern
ments, as well as by our railroads and other
corporations previous TO 1878. The bare fact
that three-fourths of the railroad properly in
this country is now in the hands Of receivers,
because they cannot meet the interest On
these bonds should have forcibly reminded
him of this fact. Moreover, he overlooks
ground rents and the taxes thereon created
previous TO 1873, many of which were Gre
ated at time when the current dollar was
worth 80 cents, sometimes more and some
times less, in gold, and which now Rave to be
paid in dollars the purchasing value of which
is about four times what the former dollar
was, owing TO which the revenue of the idle,
or at least passive, capitalist is doubled while
the improvements on the ground have de-
| creased more than one-half of their selling or
renting value. Thus active enterprise in the
building line has been strangled.
Second-Does Mr.. Perot expect any one to
believe that this gigantic movement among
the masses, permeating every section of this
vast country, is solely due TO the Vaccinations
of few silver-mine owners, many of whom
have already been bankrupted by the uncalled-
for legislation of their own country, which
should have fostered and protected their in
dustries instead Of destroying them? Or does
| he seriously mean that few silver-mine own
ers can compete in political corruption with
the aggregated wealth and combined interests
of trusts, monopolists, bankers, American and
foreign, who can and will spend thousand
dollars where the silver men can spend one
He talks of 1000, 600 copies of silver speeches
being sent ont to the South and West. |
wonder how many millions of gold speeches
| have been sent out from Washington, where
plant administration has been working
body and soul, late and early, against the sill
yer interests. He cannot certainly complain
of a lack of education in gold-bugism here in
the East, since the entire press of the East
| has been making war against silver. And
yet, what is the result? The silver question,
| the moment the masses in the East get an ink
ling of its true merits, scars aloft in triumph,
and the combined educational press of the
East can not keep it down.
| Third-Mr. Perot says that the value of
! American silver produced last year was $780,
900, 900, Surprising it was. Does he not
know that if every dollar of this was added to
our circulation it would barely supply
proper amount of money per capita TO our
natural increase of population? Shall our
population go on increasing and our money
supply decreasing as at present?
Fourth-What does his argument amount
to when he says that this country has been
sadolled with $3.50, 900, 600 of silver. France,
according TO the last census, (1890) has nearly
| three times as much silver per capita as the
United States in circulation, it has nearly
| three times as much money of all kinds in
circulation per capita, and the policy of the
/
the supply of money per capita while this I'M
fortunate country is decreasing the same, and
yet, according to a very able editorial pub
lished some time since in this very journal,
| France, according to the census, was the most
prosperous nation on the earth. The census
showed that it was the only nation where the
| earnings and the income of the working and
middle classes were steadily increasing and
the millionaire class was decreasing.
Fifth-Of what value is Mr.. Perot's argll-
ment that the silver in silver dollar which
was worth 103 when it was demonetized is
now worth so much less? Would not the
same have happened 10 gold if it were sub
mitted to the same treatment? Has not the
production of gold increased more than that
of silver of late years Is the fact that under
the constitutional privileges formerly attached
| to silver, mining Of silver would be profitable
any reason why its value should be destroyed
by legislation? Apply the same doctrine to
gold and what would be the result? 1t is
said that gold has been mined at Cripple
| Creek for as low as 25 cents an ounce. Is
that any reason why gold dollar should be
declared to be worth only two cents or less
Statistics show that if we take all the money
expended in successful and unsuccessful min
ing of both gold and silver it has cost dollar
or more of outlay TO produce one dollars
| worth of either GOLD or silver bullion.
Nolno! Mr. Perot, this silver movement
with its magnificent proportions is not the
work of coterie of Colorado silver miners.
1t is a movement of the masses, who believe
that two kinds of redemption money are bet
ter than one kind. We have had your gold
standard for the past three years, and if our
present condition is a sample of its benefits
God forbid that it should continue.
T. L. BRADY.