Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1896-08-13
Free Coinage Of Silver. I'll.

At the close Of our last weeks ar
ticle we had made these points; U)
That the decline in the prices Of most
articles during the past 20 years has
been on account OF heavy production,
due to improved methods and the dis
covery and development OF new lands
and resources. which production has
rather exceeded the increased demand
for the goods; CD That while prices
have fallen, wages Of labor have gone
up, because the employer, by his inn
proved resources and methods, is able
to turn out more products than for.
merly with the same capital invested
and hence can afford to advance wages
at the same time that he lowers the
prices Of the goods he sells. These
two points cannot be gainsaid. They
are generally admitted, and when any
body is met that is not prepared to ac-
cept them he can be cited to statistics
that are unanswcrable. Wages are
or were when the present administra-
ton came in--higher than in 1873
even, during the imitation period. and
each dollar that the wage-earner gets
will buy far more than it then would.
1t is our belief that the decline in
prices since 1873 has been entirely the
result OF the causes we have men,
toned and not in any part due to the
decentralization Of silver. III, as
some silverites contend, our supply OF
money had been greatly lessened dur
ing this period it is comprehensive
that decline in prices could be attrib-
utcd to that action, but it was not so
lessened. There was of silver in cir
culation i'm 1878 about Sl43, 900, 900.
Since then Sj3s. 100000 of silver has
been added, which surely shows that
we have been generous to silver. OF
all kinds of money we had in 1873.
$50 per capita, proving that there
has been no contraction Of the cur
rency that can be held accountable
for the decline in prices. The use Of
checks and credits has become. so gem
eral OF late that not 10 per cent OF the
business transactions are settled in
money.
But they tell us that there is not
gold enough to serve as the sole stand
ard and that the great demand for it
rs a money metal has caused it to APP
prcciatc. 1t is difficult to prove or dis
prove this. Nobody can accurately
determine just how much money
nation should have. Our circulation
per capita is greater than that Of any
other leading nation and should not be
diminished. The world is producing
more gold now than ever before. The
production of gold alone for last year
was greater than that of both gold and
silver combined in 1873. The existing
standard which the Republican plat
orm pledges the party to maintain
provides literally for silver. With |
10Th metals sustained on a parity as at |
present we have an abundance Of
money and every dollar is as good as
very other dollar. The so-called |
scarcity" of it is due to the timidity
# its owners who are keeping it hid
way until the silver agitation ceases
md prosperous times are assured,
when it will again appear.
Thus far in our discussion we have
cted on the defensive. We have
'iven the silver arguments and re-
nted them. Now we assume the Of
ensive. Having as we believe shown
hat free coinage would not improve
ur conditions we are prepared to sub
lit that it would be actually injurious.
Suppose free coinage should win.
Witty following the election panic
onld be precipitated. Bank deposit