The Dickinson press., 1896-08-29
| GROCERIES:

perhaps of capitalists, hoard and gather
for the oppression of mankind. Now let
me call your attention to one fact. The
free-coiners assert. when they are told
that the increased output of gold is going
to tend very much and by natural pro-
ccsses to solve this question, that from
One-half to One-third of the gold annually
produced in the world goes into the arts.
This statement is probably an exaggera.
ton. It is probable that one-quarter of
the gold of the world produced annually
goes into the arts, and it has been doing
it for centuries. Consider for mo-
mept, my fellow citizens, what an enor-
nous sum-. enormous aggregate-three
billions, perhaps four billions, of dollars
are lying in the. shape of golden orna-
ments. thousands of dollars of them in
this room tonight. Now want to ask
you this question, if there is gold fam
inc. if the power of gold is SO absolute
and tyrannical as it is claimed. if its
possession in the shape of coin gives it's
owner such sway over the destiny and
fortune of his fellow man, how is it
that this enormous amount of gold, per-
haps one-third of that which is in exist
cncc, has not shown the least symptom
yet of going into the melting pot to be
turned into coin?
But we hear a great deal about the de-
monetization of silver, and one would
| think to hear our free-coiner friends de-
claim that silver had been entirely de-
monetized. that by some. malign inf1u-
ence the money function of silver
throughout the world had been entirely
abrogated: and it is a very catching
phrase. 1t has been very catching
assumption, for will not call it an argu-
ment.
Now. say. my fellow citizens, that,
properly considering facts, that state,
ment is inaccurate. not to say untrue.
assert that silver has never been demon
etized in the sense in which that charge
has been made. (Applause) Demone.
tization means to divest Of standard
value ms money, and l say this has not
been done with any dollar of silver coin
that was ever mintcd at any mint. ZAP
plause) 1t is true that many nations
who have approached the danger line of
which l spoke a few moments ago, when
| one metal drives out another, that many
nations have told the owners of silver
| which lay concealed in the earth we will
not longer buy it at certain ratio and
been entirely done. and l repeat my
statement that the assertion that silver
has been demonetizcd is one calculated
to mislead. and is not true in fact.
s.The Crime of 49,"
All our woes are dated from 1873, the
period when the free-coiners persuade
their disciples that, to use their stock ex-
preston, silver was dcmonetized, or that
one-half of the aggregate wealth of the
world was struck down ut blow. Now
let us bring this statement to the crucial,
absolute test of figures, of what records
and statistics say upon this subject, and
not trust to the vague defamation of
any person. The value (and l will give
you my authority for this statement in
,nqomentl; the yalae Of all silver % eoi9 aoa in
In 1895 it was s4.ioo, ,6oo;ooo. The
value of all the gold coin in the world in
1873 was $3,O45, ,OOO, 600; the value of all
the gold coin in the world in 1895 was
1900, ,O0O,O OF this quantity of sill
yer current in the world in 1895, So, ,439,-
300 was 81 full legal tendsr @ Now at
ematical deduction is made. By this
statement it appears that the quantity
of gold in the world increased. between
1873 and 1895, only $1,000, ,O0O, 600,
while the increase Of silver coin for the
same period was $2,2S3, ,O0O,O ,OO0-more
1873 than remained up to that time of
all the coinage of the world since Noah
left the ark. .(Applause.) And nearly
double more silver has been coined than
gold since 1878. What becomes, then. of
the assertion Of the equal and equable
pIOuuClIOu VI blltCl anu SOlu lIUIn year
to year since time began, and of the de-
monetization of silver since 1873, in the
face of this showing that, between 1873
and 1895 the coinage of silver was near
ly twice greater than that of gold? They
talk of the demonetization of silver since
1878 in the face Of silver coinage
over 1000, ,OOo,o 900, Of which $53s,-
444,4G7 was minted by the United
States! (Applausc.) And of gold the
United States minted during the same
period $937 ,46O,633. And here, also, is
answered q statement confidently made
eous in fact, that there has in all this
time been an enormous contraction of
the currency all over the world, yet
these figures conclusively demonstrate
that that statement is not true. Now,
my friends. have not taken this from
the statistics Of any other speaker Or
statistics are gathered with the care
which commands the respect and conf
dencc of the civilized world, and ON the
Doth of July (only few days ago) l
telegraphed to the director of the mint
regarding, information, upon these SUBJ
jects. and he answered me:
Hon. C. X. Davis, st. Paul. Mimi:
The total value of all silver coined in the
world in 1873 l estimate to have been
M,S17 100000 and 1895 S, 100000, 900.
The worlds stock of gold in o1s 1873 is es;
is95 about VIZ $4.eoo 600 ooooSo sy R. f. prcsl pna
ton. director of the mint" And these
figures l have just given you are the fig
| ures which l have just read in the tele-
gram of the director. The greatest bust
ness transactions in the way of finance
on the face Of the earth are made upon
have said is discussed the only answer
that will be made to it is probably that
Mr.. Preston and the United States gov
ernment is one general universal gold
bug. uaughter.)
Now Is, let me give you another state
world in 1892. 1893 and 1894 was as
follows: Gold: $172,473, ,124: silver,
silver. Sl37 .952,690: in 1894. gold, $S27,.
921 .O32: silver, S113.O95.7S3. A total in
three years of 81 ,O39, $780, ,49S. With all
| deductions for recoinage this outDut of
coined money is of immense volume,
| Now l have thrown out these sugges-
tions and will pass from that branch of
the discussion and call your attention to
another assertion of the free coiners: /
alluded to it cursorily few moments
the same manner in which have treat.
ell the last preceding question. The free
| cOincrs assert that contraction has in.
tlictcd all the financial and economic
| mlSerles that mankind has endured since
1873. Now l say that they themselves
coolly propose to bring about a contrac.
ton of currency in the United States un-
cxampled in the worlds history. I saw
that they propose to bring about con-
traction in the United States unexampled
in the worlds history and fraught With
more evils than are recorded in the an
nails of hnnan woe. In that case. Fl that
is the logical result and inevitable ies-
tiny of what they propose, want to
know wherein the goldbug is worse than
the silver eel?
Here 10 the Proof.
Now you ask me for my proof and 7
will proceed to give it. The unlimited
and free coinage of silver in this country
will drive out the gold. This is as indis.
putable as any law of physics. such as
the law of gravitation. 1t has driven omt
gold in every country which has unlimit-
edly coined silver Do you want the his
tor:cal and clear proof of it? In fact.
there is not an enlightened gentleman
who will talk to you in advocacy of free
coinage of silver who does not admit thar
shis will be the inevitable result, hut they
say it will only last two or three years.