New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1896-09-30
DAY, SEPT 80, 1896 WHOLE NUMBER g76

based on gold) which rise shows itself
in the fall Of prices Of commod odities..
# we had free COINAGE Of silver would
not this country, become the s.dumping
ground" for silver from all nations2
There are, bis supposed, about four
billion dollars Of silver coin, and bullion
in the world, and il all of this should
come here it would only give the United
States per capita of about $58,. which
is only q little more thaa. we had of all
kin.is of moneyin the North at the close
of the war when times were exceedingly
prosperous. France today has nearly
this amount Of money per capita, and is
one Of the most prosperous countries in
the world.
What is there to prevent this silver
from coming to our mints for coinage?
There are three conclusive reasons Z az
Other nations have no more silver than
they need bl Europe annually uses
about twice as much silver as she pro-
dnces; and (c) the great bulk Of the sill
yer now in existence is already coined at
ratios more favorable to silver than 16
to l, some being 5 to i and some 151
| to 1.
Why not put more silver in our silver
dollar SO as to make the bullion and
face value equal?
Because this disagreement is due to
adverse legislation, which when correc-
ted, will restore the parity by reducing
the demand for gold and increasing the
demand for silver. Besides we would
be foolish to undervalue our own pro-
ducts. By rights we should demand 1544
instead of 16 to 1. Our silver dollars
! and silver certificates are not redeema-
BILE in gold; but are kept at par with
gold because of the demand that there is
| for money, which, as compared with the
supply is l1mitless. Our manufactures
| alone i'll one year amount to about eight
billion dollars. which is about the
amount of gold and silver coin in the
world. Besides this there is as much
more money needed in the vast transfers
in agriculture, real estate, transportation
and retail trade. The so-called $50 cent
dollers'' are therefore an impossibllity.
Will not the people object to using so
much silver on account of its bulk?
Silver eltifcates, as now used, will
easily float all the silver that may be pre-
serted.
Would not the free coinage of silver
so stimulate the production at the mines
as to create flood of the white metal?
What effect does this fall in prices
have on us as a nation?
It tends to discourage production and
commerce, and works to tile constant
impoverishment of the debtor classes.
How has this fall in prices affected
our national and other long time debts?
All debts are paid in the products OF
tbs debtor, and as most of our debts are
held in foreign countries they are paid
in farm products, mainly wheat and cot
ton; and it will now take more than twice
as large an amount of these commodities
to pay the same amount of debts as in
1878. Thus ON account of the fall in
their prices it will now take more wheat
or more cotton to pay off our national
debt (ncw reduced to $3.50, ,O0O,O0O) thar
it would to have paid the debt in 1877:
when it was $2,105,0O0,0O Hence WE
are now paying our whole national deb
at the rate Of over 50 for 81 received
When . comparison is made with tht
condition of affairs in 1868 matters arr
worse, and "our people, as the histori
an Ridpath says, shave paid and pad TO-
thirty years and at the end have paid JUS
this-nothing, .. z~s.
Had there been free coinage of silve
since 1878 instead of the present golt
standard what would have been the pres
ent condition of affairs? -....
There would have been plenty Of mon
ey in circulation, and hence no panic
and no general fall in prices, and W,
should have had a more rapid and gen
eral accumulation of wealth participat
ed in by allclasses and aggregating, j
is believed, about eighty billions of dol
lars IN the United States instead of six
ty five billions, as now estimated.
WHAT'S the duty of every one who de
sircs to see general business prosperitys
TO study this money question for,;iiIn
self andsto learn. as seyery one can, wha
great evils have come, mot only upon on
own natlo.,, but also upon the toiler
and producer Of Europe, by the denon
etization Of silver; and to realize tha
#Ineitller we nor they can ever have oo9t