The herald., 1896-09-27

ther reason that everything that money
purchases and measures the value OF
falls in price as money rises.
One of the greatest Inconsistencies OF
modern and increasing civilization Is
the tendency to decrease the volume OF
money with an increasing population.
This monopoly of money by the pro-
cess of monometallism and the corner
ing of gold is the most stupendous foiiy
and the basest crime. The population
of Europe in the fifteenth century was
only about fifty millions, while now "
is estimated at over three hundred ana
flfty-seven millions-witha an average OF
life far greater and a multiplication or
industries. In the United States wnne
our population is greater than ever De
fore and increasing at about the rate
of two million per annurfl, our per capita
circulation of money Is less than 1t mas
been since 1880, and instead of increased
population and the need of money, 1t
is decreasing. The condition is, the more
population and industry, the more debt
and the less money.
With such conditions, falling prices,
stagnation and insecurity in business
and idle labor must follow as night the
day. at,lei,.t
MORE MONEY AT HOME.
That the United States needs large
per capita circulation of money other
than gold the following citations Of fact
based Except as stated, on the census
Of 1890 conclusively proves, to wit:
The per capita of assessed valuation
of all property in the United States,
$3s492; per capita of all public and pri-
vate debts, $451; per capita mortgage
debt, $96; per capita of debt, national,
state, county, municipal and school,
$32.07; per capita of money, gold, silver
and paper, $2282; per capita of gold coin
and bullion, about .$9.74; per capita OF
annual gold product about 81 cents.
HOW TO INCREASE THE VOLUME
OF MONEY.
How to increase the monetary vol
ume, then, is the question. The DEM
| lieve that this can best be done with JUS
| tice by the free coinage of silver at the
ratio of 16 to 1. The party platform
| declares:
1--WE demand the free and unlimited
coinage of silver and gold at the pres
ent legal ratio of sixteen to
aid or consent Of any other nation. We
| demand that the standard silver dollar
I shall be full legal tender, equally with
gold for all debts, public and private,
and we favor such legislation as will
prevent for the future the demonetiza-
tion of any kind of legal tender money
by private contract"
This means the restoration Of silver
to an equality with gold. 1t means bi-
metallism, financial policy justified
by the wisdom and experience of centu-
ries. For four thousand years gold and
silver have been the metallic money of
the world. From the time the sorrow
ing Abraham bought in the land of Ca
naan burial place for his beloved wife
Sarah for -four hundred shekels of sill
yer, current money with the mer-
chants" until comparatively a few
years since, silver with gold was in
equal favor and repute at reasonable
ratio. Silver and gold was the money of
| our colonies, and afterwards of the
| United States, from the time Of the
Declaration of Independence and under
the constitution, until silver was de-
monetized without the knowledge of
the American people, of the congress
that passed the demonetizing act, and
the president who signed it, and which
was a mistake for which this country
has dearly paid
| OF all the materials known the pre-
cious metals, gold and silver, alone pos
sess the indispensable qualities of a
| perfect currency-basic metallic cur
rency. Indeed, the worlds greatest stu
dents of political economy have de-
clared that these precious metals were
intended by the Creator to be used as
monetary medium of exchange. In
no. spirit of irreverence Sunset Cox de-
! clared that gold and silver Is the money