The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1896-07-25

that silver has fallen because
sthe.sUnited States Government has with
drawn that shield, the privilege Of free
coinage from that metal, and has re-
served it for the holders of gold alone.
Were there minimum government price
Per ounceson silver, as there is on god,
the metals would be on the parity" whic
the metals would be on the party which
the. Minnesota Congressman prattles about,
but does not want to see Had tine United
States Government not deprived silver OF
its mint rights the amount OF that metal
produced in this Republic last year would
have been worth over $6O,OOO,OOO any
where on earth in place of but little over.
half that sum, for except it be IN the Nc
CIeary Congressional district in. Minnesota,
no ma is ass enough to sell his silver either
here or abroad, for less than it will bring at
Washington, the cost of transportation, of
course, deducted 5ls
It is Just possible, of course, that the.
$25, 900, 600 or $30,0O0,0O0 difference does
the United States more good, in the pocket
of the bullion buyers Of London than in the
pockets Of the bloated silver miners OF the
mountain states. II he thinks so the mem.
Der from the North should try the. expert
ment Of Minnesota winter without any
fire, for the legitimate use of fuel of course,
makes the bl0ated coal miners OF Penn
sylvania rich. &C., e.
That the volume of money does not con-
troll prices the observing Will find on
page A OF this congressional screeds a.
threat, the stereodyped threat which
appears on every Wall street circular of
late. The threat is that if government,
by the people of their own interests for
Do tn .avfo
to silver the same rights as to gold then
the creditor classes would precipitate
panic, just as they did in 1893, to force
the repeal of the Sherman purchasing
clause 1t is more than that argued that
''debased'' coin, which as already shown,
is simply clap trap falsehood. Tt
does not appear that people are fools,
it has never been demonstrated that they
will sell silver for less than ST. per,
ounce in London if the government of
the United States makes THAT the mini
mumum or mint price, the cost of trans
portation, of course deducted. Perhaps.
Mr.. McCleary would like the sane men
to believe that silver owners in England
would sell for. less than the American
price. Perhaps he would like them to be-
lieve that, as an alternative, they would
ship all their silver over here Most
men, however, happen to know that the
difference between the English and
American prices is limited to the c0stSof
and exchange MOST men
realize that silver in Eng
land would go to within a cent OF two:
pei. ounce of the American mint price,
the moment that price was, established
by. a government that greater than any
other on earth, despite the success of
the McCleary stripe of statesmen, to
pawn its Industrial future abroad. Does
the sophist from the North really want
to- know what creditors not only would 4
do but will do whenever the people OF
the United States say so? They will
let go their grip on the vitals Of the re-
public, sorrowfully perhaps. but they
will let 20 just the same. They will ac-
cepts the payment in full, in the same
good os when they obtained it. From
Kind as that in which they bought bonds.
The enormous increase in gold pro-
duction concerning which Congressman
;McCleary so conveniently falsifies, will
have strong tendency to. make Ameri-
can coin silver at $1.29 per ounce more
desirable, but gold is their metal, and
with silver at IS cents, and all. else that
the American producer has to sell cut
down in price proportionately.. The
mysterious process by which doubling
the gold purchasing power Of silver is to
ruin those who have silver to sell, may
be murderous on the same principle as
men are said to to be killed with kind
ness, but the average producer, and Ia
boring man in the United States can
stand good deal of it, and never turn
a hair. No, the enactment of free silver
legislation will not induce depositors to
withdraw their deposits Men seldom
lose confidence in themselves, in matters
governmental, and when majority de-
clares for the re-estab lishment of the
old system on which. American indie
pendence was founded, that majority
will stand to its colors to a man.
There is no doubt about what Wall
street might try to do if; free coinage
did anything more than afford an op-
,portunity to imprint upon the Wall
street mind the lesson that was shat
into the Southern Confederacy it would
even then be worth a great price. That
such lesson is needed is just as certain
as that just such a lesson will be duly
Forthcoming, whenever the crisis arr
f1VGS. Ou page 10 dllu 10 VI CuS SPScCI
is full and complete demonstration of
the fact that Congressman McCleary is
simply a tryo in matters of finance. He.
solemnly declares that under proper
conditions the working power of each
dollar is beyond human computation,
aud then goes on to himself to compute
with wonderful accuracy precisely what
a. dollar under the proper conditions
will do. 1t is not often that ordinary
mortale take the pains to demonstrate
their own contradictions, but Minnesota
has a con gresham that is no ordinary
mortal. He says that men had conf
dece in the silver dollar which he uses in
his illustration, because it remained as
good as when they obtained it., From
this he attempts to draw the Inference
that making the silver dollar worth more
as bullion in gold than formerly would
...tdebase''. It, would make it a poorer
dollar, would make the man who had it
sorry it was his BY this picturesque
sytem Of logic it follows that leaving the
silver dollar as it is, to fall in price as
metal, and become progressively less
valuable il exchange for gold makes
the silver dollar better dollar, en-
hances in place Of "debasing' it, puts
it on d :ssparity,"' induces men to be
much more glad they have it than they
would were it worth twice its present
value In gold. II It does not appear that
the institutions for the feeble minded Of