The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-06-04
WHY SILVER DEPRECATED.

Hon ]. W. Hlake in an interview with
Pos, reporter. ,rintei MONDAY. says
Now ask Thu Post 10 all honesty and
Candor II {, - no; more reasonable 10
suppose ira he fan IN the price Of sil-
vcf as measured by its x 10 value WAS
iNr 10 the fact that the uni nlifHi demand
tor the silver bullion al = fixed price or
ratio given by the government was taken
away by the repeal Of the act Of 1872
The question Il MIR. Flake IS we'll an
swerei ~ the following from speech
Of senator Benjamin II. ihll ~ Georgia.
delivered In ihn United States SENATE IN
iS'S on the subject oil free silver ooinase;
In arriving ~ the cause or causes
which produced the depreciation Of silver.
sponsible. hut that besides the limited
states, ten Of the greatest comnefeial
nations Of the earih during this very
period discarded silver from their coin
aga. ioi. gentlemen tell me there hut
ono cause for In. depreciation OF silver.
Looking at this question fairly with a
perfectly Impartial mind. / must come to
tine conclusion 'hat the cause OF the de-
prcGation ~ silver Is TO he found NOT IN
he act of any one nation. but q. the acts
Of eleven nations. and IN the fact OF ~
greatly Increased proluctiou ana tho
great dechre in ihe demand Tor t." MI
linl, CONTINUING said Il would lie 100
hazar ious An undertaking for us TO ADOPT
free coinage when "" can remove only
OF" cause che repeal OF the act II 1879
Of the depreciation of silver Bu, our
free silver friends claim that the rcsiora-
i.on ef silver 20 free coinage would cause
II 10 Immediately become as valuable
as gold"
In a speech of Judge Patterson lie ox
plains With convincing force. why this
government alone is powerless To restore
silver to a parity III value with gold by Il
free coinage law. a. follows
'rhr countries OF tho world are
| xH.,t,
ng with one another When silver Dc
rliuts IN one II declines In all We can
not Appreciate silver in the United states
without approaching 1t everywhere else.
throughout the world. Now. Assuming
tGat which IL true, that all the gold
counties hold their silver money on =
| parity with gold and iAa' free coinage
act ia this country would not result II NJ
tucncins the silver ON parity with gnli
n those countries 10 Cow into
this would necessarily have the
effect - raise all the silver coins
in al the silver countries of The world
10 a parity WIN gold II We raised silly l
"a 4 parity with gold In ms country. "
~ had free, independent and unlsmii cd
coinage. and the eject should hc ,c adj
vancr thc price of silver unti the cota-
! iuerclal vnlur of the button of a silver
! dollar would he equal To the commercial
! vH'ne of the bullion in Il gold dollar
I ilirp necessarily all thu silver dollars 1t
McXiro and all the silver cons IN al
he @ nor silver countries would flow Il
sur mint or olse they would lie raise,
/ to n parity with gold IN those countries
! So the prnpostion involves n ( only n,
/ lifting Of all the silver coins m all Tho
! si.Vrr countries Of tho world. amountini
- marc than s2n0n mo 4o 10 a parii,
with gold hut II Involves necessarily
, doubling the price OF all unconed s'lve
I n The world No man who VIII con
slider ne proposition Tor a moment ca
hy ,uaeiins a law. can accomplish thi'
prod slous result