The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-04

lHOuSdnu dollars IN paper IN Jhe mousse,
and the house burns, your paper is de-
stroyed, Your silver is melted and
ONLY WORTH ONE-HALF;
the gold is melted and it is worth just
as much as it was before. and there
fore gold is worth more His opponent
said, That would be true under The
( present law, but everybody does not
put his money in a house, and every
house does not burn down Surprising
you put it in a boat, the boat turns
4 over, the gold and silver goes to the
4 bottom and is lost, the paper floats and
( therefore paper is the only good money.
/ (Applduse) There is just as much
sense in the last proposition as there
was in the first proposition
4 want to call your attention TO this,
that the very people who tell you that
1 silver is not good money because when
you melt it, it loses one-half OF its val
ue are the very people who are advo-
eating the national bank currency,
which, when it is burned, loses every
thing.
why not open your mints if you
want to treat al alike and say that if
a mans silver melts he shall have it
recoined without loss. But there are
people who actually believe that if you
have free coinage of silver there would
buying up all of the SILVER at so CENTS
on the dollar and having it coined into
a hundred cents and making the differ
ence.
Il have known people to calculate on
how much they could make under such
system, and then / found that these
people who were so sure that they
could make a big profit in that way,
were people who never lose an OPP
portunity
TO MAKE a BIG PROFIT,
yet when they find out how much
profit they make they tell you they
are opposed to free coinage anyhow.
/ (Applause.) 1 put the question to you
/ if you could take your silver TO this
mint and have 1T converted into money
at the rate of $1.29 per ounce would
you sell that silver to somebody else
and let MIN make a profit (Cries OF
NOD
"And yet, my friends, you will find
many people who are opposed to free
coinage who talk about the profit Of
purchasing cheap silver and having NJ
coined at great profit. Now there are
others with whom you come in con-
tact, and next to the man who Is
figuring ON the amount of profit there
is in coming silver under bimetall1Sm,
I say next to him, comes the man who
is afraid there. will be a flood OF Sill
YER. There is nothing that eXcites my
sympathy more than to find man
who never had too much money in his
life, who has not enough to pay MS
debts, who does not know where next
winters coal is to come from, who
stands and trembleS in his boots for
fear there will be flood of money and
it Will overwheim him. applause and
laughter.) And then as soon as you
have been frightened by the prospect
of a flood of money, you have been
told az matter of fact we are going
to have q, drOuth of money instead OF
a flood. One man was telling now, II
we had the free coinage of silver all
the gold would go out of circulation
and then it would take fifteen years
with cur mints running at fulf capacity
to coin enough silver to take
THE PLACE OF GOLD.
And then he said a silver dollar
would be harder to get than gold
dollar is now. 1 don't know how you
can crowd more absurdity in the same
number of words. Gold go out of cir
culation? Six hundred millions Of it?
Why, my friends, we have not six
hundred millions of it in circulation
to go out under any kind of condition
or circumstances, and more than that
we do not believe that the coinage of
silver would drive gold out of circula-
ton. We believe that the free coinage
of silver would drive gold into circula-
ton.
Those that have been boarding In
order TO get the raise in value of money
and let the rise commence in the value
+ of property, and the men who are
locking up their money in their vaults,
I will hH N before
( money comes down and get property
before property comes up. Great ap-
plause) l believe that free coinage
will put money into circulation, instead
OF taking money out of circulation But
let me now call your attention to that
other danger about having to wait
fifteen years.
I had this question brought before
me in a southern state in joint debate
a year ago. My opponent said TO me:
Don't you know that if we have the
free coinage of silver and it drives the
gold out of circulation, that it will take
fifteen years to coin enough silver to
take the place of gold. What would
do?' There I was away from home
among strangers. Laughter) I did
not have time to think. 1 had to an
swer at once. So l just blurted out
that l would
MAKE MORE MINIS.
daughter and applause.) He had never
thought OF that,
Men are calculating upon fifteen
years Of suffering Why, my friends, it
seems to me that the smallest child
wolGd say that rather than suffer for
fifteen years we would make more minis
and coin more money if the people
need it. (Applause.) But there is an
other part OF that propos. ton. The man
who made this statement wound up
by saying that during these fifteen
years money would be so scarce that
silver dollars would be harder to get
and a higher-priced dollar, measured by
property, than a gold dollar is now.
That is the worst of all absurdfties.
just think of 1T. Why, gentlemen. you
know that if silver would drive gold out
it would be because silver was cheaper
than gold. 1 say if you could imagine
such a contingency; if you could think
for one moment that silver became as
dear as the gold, then there would be
cheap silver, which would drive the gold
out, and yet you would be told seriously
that under the Zee coinage of silver
you are going to have cheap money that
will be dearer than the money you
have now APPLAUSE and laugfter.l just
as you are told that you have a flood
of money and a scarcity. Think of the
flood and a drought contending for
mastery l speak of this, my friends,
to show you the confusion of ideas that
prevails among those who think that
they are the only people who can think
on the money question, but let me speak
a moment of this flood of money
Did you ever stop to reason out how
the free coinage of silver would hurt