Daily capital journal. (Salem, Or.) 1896-1899, 1896-08-15
II. t. oEER, j. A. JEFFREY AND e.
HoFER.
CONTINUED from first page.l


after might add to the wealth ant
comfort OF the world, but the mar
who labors for a living and the mar
who produces out of the soil by his
labor are the prime factors OF all
wealth.
Primary money was a measure OF
of value, and the thing which meas
ures the value of the primary wealth
measures the prosperity OF all who
came after and did business on
margins. Ifthe labOrer and farmer
who must sell their labor and products
In order to live, could exist under bi-
metallsm all the rest could flourish,
prosper and get rich.
Let the gold owners take the de-
preciated property Of our country
under their gold contracts, but let the
people have an opportunity TO create a
new era or prosperity.
The speaker here read from the
coinage laws of the United States TO
show that the standard silver dollar
Of today was the original unit OF
value, and had been by fraud or mis-
take omitted from the coinage act Of
1873. The silver dollar was partially
restored TO coinage under the Bland
act. Under the Sherman act this was
enlarged to Al millions month and
when we coined the most silver we
accumulated the most gold and raised
the prices OF products for few years,
from 1889 TO 1892.
SOME SILVER FACTS
were submitted by Col. Hofer that
Mr.. Geer never denied. They were:
/. That the production OF silver
from 1871 to 1892, relatively to gold,
was little more than half what IL was
during 800 years preceding the Callfor-
MIA gold discoveries.
2. The fiuctuation Of silver supply
from 1545 TO 1892, was less than that
OF gold; that sudden fluctuations in
silver product had not occurred in 300
years. At ten years. interval the
increase OF silver was $50, ,OOO, 900, from
1881 TO 1891, the increase OF gold sl22,-
100000.
3. The increase In the worlds stock
of silver had been less than Of gold
from 1850 20 1890. Percentage OF In
crease; gold l42 per cent; silver "a per
cent. But for demonstration Of sill
yer II would now be the dearer metal.
4. The annual increase Of gold and
silver output Of our country has not
been as great as the annual increase
OF population or commence In the
same period. Hence there was no
justice In demonetizIng either gold or
silver.
The speaker charged that since the
demonetizatlon OF silver there had
been almost constant decline In the
value OF commodities, including silver
bullion, as measured in gold In the
markets Of the world, and nothing
but free coinage OF both metals would
restore the disparity between gold
and property and.products.
GOLD STANDARD.
means retirement of the greenbacks
and treasury notes now outstanding
--s4S4, ,O05, ,296. To do this the govern
ment would have 20 issue $500, 700, 900
bonds and borrow gold, increasing the
interest burden s2O, 900, 900 year, Or
lt would have TO allow the national
banks 20 take up the greenbacks and
treasury notes, and issue their own
paper In place thereof. Is this deslr-
able9 Is II desirable 10 dlsplace n ma.
tional paper currency that bears no
Interest for a burden OF debt or an In
tiation Of national bank wealth and
power, and continuance OF the era OF
falling prlcesY
AS against gold bonded debt sys-
TEN, national banking system, fiat
money, or any artificial money system,
resting upon legislative grants of pri-
vilege, advantage or restrictions, that
gave any class power 10 control or
manipulate the finances of our coun-
try, or run gold corner, the independ-
ent bImetalllists propose "a natural
money system, founded upon two great
q.t-. s... 49,