New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-14
WHY SILVER is CHEAPER.
CONGRESSMAN GROW CALLS ATTENTION
TO PERTINENT FACTS
FREE COINAGE ENTHUSIASTS IGNORE THE
GREAT INCREASE IN THE OUTPUT AND
THE DECREASE IN THE COST
OF PRODUCTION.

poc,,h,ic Convention held here this afternoon, b.
y Mite n was renomnated for the state Senate
- ,.f. plollet Robert S Edmston and Lawrence
T Nanley we're named for Representatives. a fuil
county ticket was also nominated. a resolution urg-
,nv ,h.ir Representatives 20 oppose the reelection
80 NJ Cameron TO the United States Senate
- ,.s1 The chief incident OF the day was a speech
@ .lusha L. Grow. Congressman-at-.arge from
,,cvlyRnia. ex-Speaker of the House OF Repre-
n,at.ves and a former citizen Of ToNanda. He
addressed the convention the close of it's business
IN one OF his characteriscally terse speeches. with
all bis od,ime power and vlgor. The money question
,as he chief topic. Ne said in part
TIRE three requisites. all important for
lsiN. First employment; second. payment; third.
are Of no consequence. The readiness and funess
o empoymen, contr3 to great extent the rate
esai-tender legislation in reference TO money. The
money and it's commercial value ought to be the
same II II is not labor suffers most. for the labor
number If not In the amount of money, to be paid
Within the last two months four National corven-
cts TIE first, composed of Republicans. nominated
William Mckinley the boy soldier and man states
~ n,oncy Il the same legal tender and commercial
value and in favor OF the DEVELOPMENT of Ameri-
The othor three conventions; each with It's advo;;
cs.es Of scctioaalsm, reputation, anarchy and
.-.ry Sorr. of social disorder and Iawessness, in
onS to tails II Is rot vet settled whether the
Sssd The trouble in fusiue ali these discordant
n hd %nG sh ae he hna
10 keep In the middle of the road or 10 take 10 the
a. a. for their condition will be that of the boys
description oi the traveller who inquired which
either. bu; before YOU get through you will wish
Won had taken the other.
There sns 4 pape all Of %SSS sy
peGge Of The Government. is to be maintained on g
in gold BY reason OF this Government pledge each
md every dollar of the N,5ooc0,co is exchangeabe
SFs n U paper dollar buys just much Of anything
the gold one AND even buys the gold dollar itself
money? Why not then. leave the money OF the
country as Il is? 1t seems to be chronic dispo-
alone, Four years ago the country in the
joyment Of greater prosperity than in any former
h. one OF their spasms of unrest voted for a
change and they have wanted change ever since
Why al his agitsSn about silver? The silver
population all tod less than that Of the city Of
Mia :elpha, have seen the product OF their mines
sraduay declining in prize since 1870 and ISL until
Tow II is about one half what II then. Then
%olid. would buy an ounce Of gold Now it re
quires In the same market. about thirty-two
coinage silverites at the old ratio of value in
IS, that This change IN the marke. price is not
SC ID going up ignoring entirely the facts to the
great increase ia production OF silver over gold Tor
states. but in Inc world they insist that the real
s 1T g by he monsy kings and rug
deSpots OF the world forming conspiracy 10 re
ICE the people OF this country to hewers o: wood
ana drawers of water" The silver-tongueG and
silver plated orators OF these three conventions
Ing visionary theories with imaginary facts. With
fearful earnestness they inss, that the only way 20
preserve American liberty and to save for coming
Zines the great principles of the Declaration OF In
dependencs is for the people to rise in their might
q cents Of commercial value pay debt or l0
cents. And e at by law sixteen ounces OF silver
shall buy in the markets OF the world one ounce
II gold when everywhere in such markets 1t re-
quires almost thiriy,Iwo ounces OF SILVER TO buy
one ounce Of gold That is az there Is in these
irenzcd denurc!ations Of a single gold standard
III money.
JEFFERSON SUSPENDED SILVER COINAGE.
IT, 1915 jefferson issued official order suspend
irg the coinage OF silver dollars at the mints of
the United states From that time until 1884
silver donars were coined. and but little over
one million after 1884 until 1883. From the establish
ment Of the United States Mint in 1892 10 1880 only
10000 silver dollars were ever coined and few
# any. of them IN circulation afte" 1910. From
80, he date OF Jeffersons order. 1880 this coun
iry for that e-quarters of q century prac-
ticay on the single gold standard. No bond OF the
United States has ever been paid maturity IN
anything but god, unless the bond itself specified
specific kind payment IT, therefore. there
any practical significance in the sacrilegous
smile OF The Boy Orator of the Platte Jefferson
Was the first person 10 cruelty the American peo-
ilc cross of gold And the heaviest crown of
labor is the existing tariff law. in the enactment Of
which the boy orator was among the most rhe-
orical. Z not prominent of iis advocated
There is no Single silver standard country that
has gold circulating as money, and there never
commercial value than it's gold There is no single
gold standard country thai does not use silver in
rs circulating medium; If. therefor there is 10
but standard, either gold OF silver and that
gold is every way preferable The expense in hand
ling silver by reason of its greater bulk and weight
Tanssctions AT The ratio Of Coinage of SIX
,een ounces Of silver 10 Of gold, its weight is
thirty-iive times greater which ADDS 10 the incon-
venience and expense in us use as money stand
varies less in the amount ana cost Of production
20 yed as II nov for p ali IN
The prodncion Of gold N me %9Td s vas
prodYcten in iss4 over $50 &092 500 in $50 the
PRODUCTION Of silver coin ya1aon ~ t the World
Increase in production 1894 over 1870 sl5s AT 900
than three times ESQ The nrngTc on g g0d d
So5eo In S' i2 SIS eg oO Or in $50 sss 5 de-
,rease in production in the United States. 1894
Imi,ed States was SeooOojO In 1892 $50 lo 900 in
lssi 100000: increase in silver production. 1892
In he GIFTED States in 1870 the silver product
vas onethird Of the gold products ara In lss2 it
product of gold In 1870 the silver product Of the
world less thar oneha he gG be prre rod
product IN 1870 the population 81 the Cnl'eed
States 3s55sS7 IN 1890 oS 'e b i'm
crease in the silver product OF 1892 over ls,g was
&c VOoo0 The increase OF silver IN tine mica
a,es was almost three times greater thar the In
erase OF population in these twenty two years
This great increase IN the production OF silver IN
the f-nfcd states and IN the world since 1870 would.
Of course lessen its market value even there had
beer no reduction In the cost OF us product9n.
Pm, tho advocates Of silver coinage at 10 TO WIN
the,r characteristic ignoring Of plain facts con
stantly declare that silver has not gone DOWN N
ignoring entirely the great increase in rs pr0duc.
ton IN the last twenty-five years, ana the almost
Uniform annual production Of gold during mat
period " -, .,, f.,
The persstency with which The assertion Is
prise viii the figures OF it's production and market
value before reminds me Of tne indiah LYME TO
person Of whom he INQUIRED the way said TO 1 him
vigvsiro lost None of these visionary theorists
against the experience OF all time are ever lost II