The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-08-26
SHARKS AND SHIRTS.
A COLORADO PHIL OSOPHER.
National Bimetallist.

A COLORADO PHIL OSOPHER.
National metallist.
Mr.. Louis X. Enrich lives in Colo
RADIO, and it seems to be his ambition
to appear to rise above his surround
ings and show his superiority over the
common "herd'' of Coloradans by very
earnestly opposing the restoration OF
silver to it's former monetary posi-
tiOn.
He has recently written the follow
ing letter, which is clipped from one
of the great (?) Chicago dailies:
Colorado Springs, July 2O.-M. Nor
&C nthau, corner State and Monroe
Streets, Chicago, Ill. My Dear SIR
The theory Of the free silver men is
that if the United States declares for
free coinage at the ratio Of Is to sill
yer will start off at $1.29 an ounce and
permanently remain at that price.
The theory of the gold men is that sill
yer, under the operation of such law,
would not remain at $1.29, but would
gradually decline until it had reached
the market level. In other words, gold
would 60 to premium at once, and
VAtS HlClAlA AA WOAlO 1uOICdSC Ull OIL
yer had reached comparatively stable
level.
That gold would 60 to a premium
Immediately there Is no quest but
as to how rapidly this premium would
rise 1t is difficult to fOretell. My i'm
preston is that. relatively to gold, sill
yer might start of at a value even ex-
ceeding 81 an ounce, but that the
stimulus given to silver mining by the
opening OF our mints without limit to
this coinage and the consequent ad-
vance in price would soon force silver
down again to approximately its pres
ent value.
II silver were let alone entirely l be-
lieve that the eventual restriction in
production, added to the increased
Asiatic demand, would advance it to
81 an ounce, but the free silver course,
ii it were adopted, would eventually
derress the price of silver instead of
advancing it. or course the free sill
yer people are going to make pas
sionate appeal, and will try to carry
through the election on a wave of ex-
ctement, but my own feeling is that
as soon as the working classes clearly
as they are concerned. is virtual re-
luton against this craze, and the
eventual vote will show it to be too
small for serious consideration. There
is going to be great deal of thinking
done within the next four months, and
that thinking will have it's effect on
election day. LOUIS r. ENRICH.
Mr.. Ehr.ch is correct in stating the
opposing theories of the free silver
men and gold men. Having done this,
however, he at once falls into the er-
ror Of supposing that he can settle the
whole question by dogmatic asser-
tiOn.
"That gold would 60 to a premium
Immediately there is no question" /"
says Mr.. Enrich. We beg pardon for
venturing to take issue with him, but
must, nevertheless, say that there is a
most serious question" as to whether
gold would go to premium.
Men quite as intelligent as Mr..
Enrich, and quite as familiar with the
question. are strongly Of the opinion
that gold would not go to premium;
and differing from him, they give the
reasons upon which the opinion is
based, instead of relying upon mere
assumption. Not only this, but they
also show in the clearest and most
convincing way that with the free
coinage Of silver, even though there
should be a premium on gold, the
country would be vastly better of
than it is at the present time. 1t has
been shown repeatedly that premium
on gold would repel imports, thereby
operating as a tariff, and at the same
time stimulate exports, just as they
have been stimula ted in India, Arge n
tine and other count tries having a cur
rency cheaper than gold. Mr.. Enrich
will do we'll to read the opinions Of
Henri Cernuschf and DR.. Arendt as
recently published in these columns.
He processes to fear such stimulus
to silver production that the value Of
the metal would speedily fall to about
its present market price. According
to his idea silver can be produced
without limit. All the miner has to
do is to take his pick and shovel and
dig it out by the cartload.. Nothing
prevents him from doing SO but the
present low price. He does not seem
to realize that the opening OF the
mint would enlarge the demand and
enhance the price, but the increased
output would at once bring 1t down
be produced practically Without limit
at present rates. Living in Colorado
Mr.. Enrich ought to know that such
an idea is absurd. He surely must un.
derstand that the tendency OF ell sill
yer mines is to exhaust, and that
when the deposits now known to exist
have been worked out. no human be-
ing can tell where other extensive de-
posits are to be found. Still, he writes
as IL there were no practical limit to
the time during which such produc-
tion can be kept up. He ought to
know better, but it Is to be feared
that he does not-even though he
lives In Colorado.
The supply of silver cannot be in
creased at will any more than the sup