The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-13
THE EVE OF A
GREAT STRUGGLE
CONTINUED from pags u


suing of new money, one hundred end
sixty million dollars a year. The pro-
duction Of gold in the whole world is
but little more than this amount. OF
that 81, 000, 900 is used in the arts in
this country alone. Certainly one-half
the annual production of gold is there
fore used in the arts. This would leave
less than a hundred millions to supply
an addition to the circulating medium
of the. world. OF this amount the Uni
ted States cannot hope to receive to ex-
coed eight or ten millions. Instead of
increasing our circulating medium one
hundred and sixty millions we can at
best be increasing it only eight or ten
millions, which amounts to a contrac-
ton Of currency of one hundred and
fifty millions a year. But aside from
that in the last report of the director
of the mint you will find statement
that the circulating medium was con-
t1'acted during the fiscal year ending
June 80, 1895, in the sum Of little
over fifty-eight million dollars, which
MAKES IT PERFECTLY CLEAR
that at the end of the year we had in
circulation two hundred and eight mill
lion dollars less than we should have
had.
ct takes more and more every year
of the products Of the farm to pay the
interest ON the farmers mortgage.
He can readily see that money is
growing dearer; that every year it will
purchase more and more of mis- prop
ecty. The agricultural countries with
which he comes into competition are
largely silver using countries. The
prices of exchange between these coun-
tries and Liverpool is regulated by the
bullion price of silver. All the advan-
tage of which are reaped by the Liv-
erpool grain merchant.
1T is upon this ground the advocates
of bimetallism contend that the first
advantage of the free coinage Of silver
would be to restore to the farmer
considerable portion of the fan in the
price of his products. The farmer is
told by the gold people that free silver
viii not raise the price of his products.
The laboring man is told that free sill
Yer viii double the cost of living, in
GLIDING bread stuffs. Let us inquire as
TO the truth OF tais. One of the first
effects Of the restoration OF silver will
be that the
GREAT WHEELS OF INDUSTRY
will be started 7lumming in the land;
business enterprises of ell kinds Will
IL 1ol
country, more than half of whom are
out Of employment. and others on short
hours. will all find employment 1t will
take but few months 10 produce this
result; it will come along before the
cost of living is perceptibly advanced.
Thus 1T will be seen that the farmer by
the immediate increase of price of his
product, and the laboring man by op-
portunitieS of employment, viii receive
the two first and gTea test benefits to be
derived by returning to the money of
the constitution. AS things exist today
the average yearly depression OF prices
is at least 5 per cent. Year before last
Dun and Bradstree1's aggregate agreed
that the depression in the range of
prices was about IL per cent. 1t must
have been as great or greater during
the last year. This means that money
will buy that much more every year
Of the necessar5es of life. This is e2l-
actly the same thing as interest. be-
cause 70 add to the purchasing power
of the principal is the same as TO add
to the principal, the purchasing power
remaining the same.
IF the welfare of the farmers of this
country could be assured the prosper
ity Of every other class would neces-
sarily follow.
IT IS TRUE
that the free coinage of silver would
increase the prices Of property. but it
would not double the values immedS-
ately We would be very fortunate in
deed if prices returned to their normal
conditions as fast as they have fallen
from il.
The gold standard associates are
fauering themselves with the idea
that they will secure the larger part of
the German vote in the coming cleo
ton. This cannot possibly be true. If
there is one class of people in the
United States who are more than any
other directly and financially inter
ested in the restoration of silver, it is
the German people. The Germans of
this country are as rule property
owners. AS a rule they are farmers.
or engaged in mercantile pursuits
They are the people who suffer most
when the price Of property is depre-
ciated.
''By what means the convention at
st. Louis was brought to declare for
the gold Standard 1 have heard but one
explanation. A gentleman who was
present told me that if the American
people could have seen the sight he
saw, there would be no question about
the issue Of the coming campaign.
From a commanding position in st.
Louis during the convention he said
he saw upon the side tracks acres of
private cars all provided with porters
and cooks, and it looked to him as
though every man of sufficient wealth
to own a private car was at the con-
vention.
ST venture to say that among the $50
delegates who assembled at the city
OF Chicago and who dictated the plat
form Of that convention, there were
not a. half-dozen delegates who came
in a special car I heard very prom
inent South Dakota Republican say