The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-09-13
What 4 GOLD MINER HAS TO SAY
TELLS WHY HE FAvORs THE
FREE, COINAGE OF SILVER.
c. d. Lane, of californiv., Writes Let
ter to the Cincinnati Post Setting
Forth Ten Reosesc 5 for Silver Restora-
tion.-
ton.

Some weeks ego c. d. Lane, one of the
Wcalrhicst GOLD mine owners in Califer
mia, peblicly shnounced his allegiance TO
the principle of free coinage of silver at
1G TO /. in the belief that the readers of
this paper would be Interested in learn
ing Mr.. Lare's reasons for this action,
The Post requested him to write n letter
in@Xplana zion of it. Following is the
reply:
Editor Post, Cincinnati, o.: Tt is true
Fiat | az Il gold miner and quite as true
chat lrolieve the full restoration of sill
yer is essential to return of prosperity.
haze no personal interest in silver
mining. So fast rs have any money 60
invest | buy more gold mines, and have
ventures from Alaska to Arizona. But
were l not gold miner, l would not
knew of anything in which 1 could in
vest that would not bc worth less n year
helce than it is today. l find that the
property most coveted under normal con-
detons has fallen fifty per cent. during
the past twenty years and is still declin-
ing in value. l find that every $50 piece
L have saved has twice the purchasing
power that it had twenty years ago. My
neighbors engaged in what is called legit-
innate business arc growing poorer and
poorer. Those That owed forty per cent
on their property fifteen years ago have
worked ever since for nothing aud, more
over, have lost what they then possessed
That is, money is worth so much more
than property that there is nothing left
to producers.
When producers can make nothing, in
Il little while they can give no employ
mcnt to labor. The natural result is
that fewer and fewer laborers are employ
ed. If the unions keep up the wages.
then those employed are put on shorter
hours-thcre is general curtailment.
| know shat out on tie farms the men
are working for wages paid before the
first gold mine was taken from the sands
of California;
AS look into the future, it will not
he long under present conditions until IL
great host of men will be idle, and when
that time comes fear that neither your
property nor mine will be safe, for men
will not see their children starve without
a struggle to prevent it; and when inn
PEELED to violence by the cries Of hungry
children men will not remain conserya-
tive.
You know that prices are regulated
by the volume of primary money-the alb
solute measure of values-in the world
In 1873 the world possessed three thous-
and millions of dollars in gold and about
the sane amount in silver. The demon
citation of silver by England did not
affect prices, for silver was in general use
and was the standard of values in Ger
many and other European States But
when the United States took from it its
primary money functions, when Germany
did the same, and threw her millions upon
the market, the other European States
were forced to follow, and so far rs civ
alization was concerned half the world s
money was stricken from existence The
natural cesult has been that prices lave
fallen fifty per cent, when measured by
gold.
But YOU notice that silver has not lost
a grain of its purchasing power In the
rough bulion.it buys rs much of any
thing you may desire to buy as it did un-
der the stamp of the government when it
was worth more than gold, tv.enty-three
years ago.
take it THAT silver has not Deprecated
in value bur that sgoid has appreciated
100 per cent The result is that produc-
ton has ceased to pay while al debts
have become payable i'll n money that has
appreciated 100 per cent II YOU will 90
cut on some beautiful fasm in the Miami
Valley and talk with the farmer you will
find many case& ssof which the follow
ing is IN illustration:
In 1876 \ bought farm for $1,000.
He paid 80, 000.and borrowed $4,000 at
per cent What he made in five years
he put in improvements. The next ten
years he could barely pay the interest
During the last five years he haa not been
able to pay the interest. His account
now stands as follows:
Principal of debt sc. GOO
Five years interest. ... ?. 100
Total ,oo
A''''t -, JOU
Present value of farm. ....... 1900
In debt. 5000
= He has invested $4,000, worked hard
for twenty years, lie has received nothing
for his labor, he has lost all of his oripi.
nal capital and now in his old age he
iinds himself il bankrupt and 5000 in
debt.
You will tell how much per capita the
money OF the country has increased You
are mistaken. There is no real money
but the 5000, 600, 900 in gold. The rest is
but as IL man check on the bank-mcrely
an evidence of credit
You ask by what rule the needed
amount of primary money may be esti-
mated The answer is: When nrices
cease to decline and property becomes MS
valuable as money. BY that mean
when investments cease to be perpetual
losses, and when production commands
q fair remuneration to the producer.
You can see the present need can ONLY
be supplied by again fully rchablitatinr
silver; by making the silver dollar again
a unit Of values, and opening for silver
an unlimited demand.
think l hear you saying, "But we
shall he flooded with silver DO not
permit that bogie to distress You. Silver
mining has been pressed for 1000 years
that we know of. 1t is most fascinat-