The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1896-07-29

You have asked me why favor the
free coinage OF silver My reply is as
follows:
Bimetallism-the right to use either
of two metals for money--is a financial
system born out OF the unselfsh wis
dom of mankind. There are scientific
truths to support it.
Money is a necessity to civilization.
When thing becomes necessity there
should be a normal quantity of it There
is necessity for 80 much breadstuff,
and we meet demand for it by creating
a normal supply. Money is made by law.
There is no such thing as money with
out the law designating something as
such. To create a normal supply OF
money, the laws must designate sub
stance OF sufficient quantity from which
money may 6e coined.
ii a normal supply cannot be obtained
from the substance select ID by law from
which primary money is to be coined,
there will be scarcity OF that necessity
to civiliz Ition, the greatest of all necessi-
ties--money. In selecting precious
metals, by law, from which money is to
be make, the selection is made from a
limited product To give you an idea
how limited it is | will say statistical re-
ports show that there is about 81, 000, 000,-
900 of gold in the world available for use
as money, and $I,OOO,OOO,OOO OF silver in
the world available Tor use as money.
That is after ages OF delving in the earth
tor these precious metals, this is the
quantity now of each in existance avail
able for use as money. The quantity Of
gold above named-all there is in the
world available for use as money will
go in the space of twenty-five feet each
way. All of the silver in the world
available for use as money will go in the
space Of sixty-six feet each way. Politi-
clans may roll figures off their tongues
as literally as they wish, but after all is
said this is the result. A cube of sixty
xix feet in silver is in the world ayaila-
BILE for use as money.
II NC bcl~Nb SOlu 40
next thing to consider is the demand
for money. We have seen what the
supply is, and the next question is the
demand. The notes, bonds ard mort
cages payable in gold, issued by the
city OF Chicago, its inhabitants, cor
porations, including railways terminal
ing there. in the aggregate amount to
as much as all the gold in the world
available for use as money.
The railway bonds, payable in gold,
of the United States amount to 5,000,-
100000. This is $l,OOO,OOO,OOO more
than all the gold in the world available
for use as money, and the railway in
debtness is but drop in the bucket
OF the gold indebtedness Of the world
A healthy reserve maintained by all OF
the gold governments OF the world TO
float their representative money will
require more gold than there is in the
world and to the extent that they are
unable to maintain such reserve they
must curtail their quantity OF repre-
sentative money and hold the total vol
ume OF money below the normal quaint
ity necessary for civilization. All
banking systems in the world hlating
representative money must likewise
maintain gold reserve to float their
outstanding paper and token money.
This only contemplates money reserves,
and we see that ii leaves none for cir
culation among the people. No sub
stance should be selected as the sole
material Of our primary money that
does not contemplate its being in the
possession OF the people and circulating
among them.
No material should be select cd as the
primary money OF the people that is 50
limited in quantity as TO be capable
OF being cornered by those who make
tia business of selecting money as the
property in which they deal. To do SC
places civilization at the mercy OF the
money dealers. In the discussion oil
Hbtldvan Gvv fop