The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-02

| NEBRASKA CITY, Neb., Aug. l.
Hon. j. Sterling Morton delivered an
! address tonight in the presence of a
/ large audience. He drew comparisons
! between the money of the country
/ When he came to Nebraska and now
He said it was something substantial,
such as cattle, horses and hogs and not
until the present was there an effort to
1 create value from something which had
no value as a commodity.
After explaining the origin of money
! and dwelling on the subject of substi-
tuting coin values, Mr.. Morton said:
The sole original cause of value is
+ human desire; when there is a demand
/ for things they have value; when the
! supply remains stationary, the demand
! increases and the value increases; when
the demand ceases altogether, the value
is altogether gone.
This shows clearly that the currency
OF people must be readily exchange
! able for those things which the people
( desire and demand. The currency it
I self must be desirable and
MUST BE DEMANDED
/ by those who have things to sell.
! The farmer who sells cattle, swine
/ and cereals for money finds chat his
/ customer demands the highest possible
quality in each of these things. The
! buyer of the farmers product is a seller
of money. The seller of those same pro-
duets is a buyer of money. The pur-
chaser demands the highest known
qualities in the things that he buys of
the farmer, and an enlightened self-in-
ferest must compel the farmer to de-
mand the highest and most unfiuctuat-
4 ing and general purchasing power in
the money which he buys. Never before
in the history of civilization have any
number OF people protested.
AGAINST BEING PAID MORE
! than a certain sum for commodities
which they have to sell. But today there
! are many farmers and laborers who de-
/ clare themselves in favor of d system of
coinage which will pay them l6 to l.
Vehemenily they are declaring they will
be absolutely ruined if they be paid
in more than 16 to l. The commercial
ratio Of these two metals today is
about 30 to l; that is, 80 ounces of sill
YER will buy one ounce of gold The
reason for declaring in favor of a mint
for silver which is twice its value is
inexplicible on the part of those who
have no silver bullion to coin.
But we are told that there was a
great crime committed in 1873, in the
secret characterization nf silver. There
was
NO SECRET DECENTRALIZATION
of silver. The bill, which left The silver
dollar out of the coinage, provided for
in the act of 1873, before the Amer
lean people for more than two years
The debate upon its passage in the
house and senate occupies several coll
u1nals of the congressional proceed
ings. Up TO the time of this alleged
decentralization of silver, the govern
ment had during its entire existence
coined less than nine millions of sill
yer dollars. Under the Bland-Allison
act of 1878, the government authorized
the coinage of the standard silver dol
lar and to restore its legal tender char
acter. This act was to reSuScitate the
declining value of silver 1t was to
pace 1T side by side with gold as part
of the redemption money of the Unit
ed States. Let it be remembered that
silver had been demonetized by tn act
Of 1878, and the acn of 1878 was based
on the fallacy that silver dollars of
gold value could be substituted for
DEPRECATED GOLD PAPER.
The silver dollar coined before this
enactment, amounting to between
$S,0000OO and $4,000, goo had long before
disappeared from circulation.
They dropped it because they knew
that no amount Of coming of this metal
could arrest its further decline, if i'm
creased production continued
But it is impossible to cover the
whole ground in single desuhory
speech. Let us, then, go back to the
alleged crime of 1873.
WAS THERE A CONSPIRACY?
If so. who were the conspirators? They
were the genius Of trade, the enterprise
of the American people, and the intel
ligence of an advanced civilization
Later on, a conspiracy again trans
PRED wherein capital and civilization
have combined to deferryize the steam
boat. and the result is the magnificent
steel bridge which your trains cross
every day.
This republic is not a Judas Is
carioG among the nations. 1t refuses to
betray honest dealing. 1t scorns even
thirty millions times thirty millions
pieces of silver, and is compelled by
its judgment and conscience to reject
the opportunities of those who would
deliver ltne safety and perpetudty of
this country into the hands of social
ism. fanaficissn ana dishonesty.
TT ignores and scorns all these who
would applaud and jeer at the cruel
fixion of the credit of cur government
Vhicl1 has heen and will continue fo
be the savior of civil and religious
liberty, The asylum of -fCle poor and
oppressed of all nations"
ALL RECORDS BROKEN.
BOSTON. Aug. ALI records of kite
flying were broken at the Blue Hill
observatory. A kite was sent 1888 feet
into the air. This is 1000 feet higher
than the ton of Mount WaShington and