The Ely miner., 1896-10-14

10 the Udlk advocating UlldG policy dt
this time.
On October 11th, Archbishop
Ireland, in a letter addressed to p
business men of Minnesota of all
politics, who asked his views, said
among other things. "The platform
of the Chicago convention threatens
the country with destruction of social
order, with lawlessness and anarchy"
How is that Mr.. Times, coming from
Archbishop Ireland, whom we all
reverence?
The Republican party by its plat
form, its history and its statesmen
clearly advocates bimetalism; advo-
Gates the largest use of silver; pledges
itself to maintain the parity of every
gold and silver dollar which has been
coined by law but not plank on the
platform is for gold to the exclusion
of silver.
THE FALLACY OF TONNES ARGUMENT.
1t is a broad general principle, that
an increase or.decrease in the volumn
of money may decrease or increase
prices. Rut, it, has been repeatedly
shown that the volumn of circulating
medium has not decreased, neither in
volumn nor per capita. More gold
was produced from 81 to II than the
total product of the world previous to
'51. And from '85 to '95 the annual
product of gold has increased from
$1OO, 600. 900 to $780, 100000. The free
silver advocates have never shown,
aud cannot show decrease in volumn
nor per capita circulation. The U. S..
alone. according to recent circular
of < the sectretary of the treasury,
coined during '92, '93 and '94 an
average of 100000 in gold. And
during '95 coined $50, ,6OO,OO in gold.
Every decrease in price of comodities
can be accounted for by the law of
supply and demand, and reduced cost
of production, as shown by Hon. J. T.
McCleary before the House last Feb.
Prosperity cannot be brought about
by more money; but it can by the
general employment of labor, which
increases consumption. Let me re-
mind you Of the continued fall in
prices Of manufactured articles in the
U. S., Notwithstanding the continual
increase of circulation per capita;
which according to Secretary Carlisle
was S14.OO in go; $3.50 in 10; SPLIT
in 80; $22.S2 in 80; in '92 it was $24. Al
falling in '93 to S23.S7 owing to with
drawals of gold by holders of U. S.
investments, in consequence of fears
of Democratic maladministratiOn
But on June 1st '95 it had raised to
$24.59. The volume of circulating
medium in the U. S. in '72 was $685.
600, 900. Last year it was over 81, ,6O0,-
OOO,0 During this increase prices
continued to fall.
Twenty years ago iron ore sold for
500 per ton. Today, owing to increase
of supply and reduced cost OF produc-
tion, it sells. or tries to sell for 81.
Silver had nothing to do with it.
The same with wheat, or manufacture
ed articles. The consumption of
wheat per capita in the u. S. fell
from bushels in '92 to 3.4 bushels in
'93. No wonder prices of farm pro-
duce are low and farmers suffering.
This Towne's free silver argument,
based on fall of prices falls to the
ground.
BRYAN'S FALLACY.
On Oct. 9Th, Mr.. Bryan in a speech
at Jacksonville said: "They tell us
to open our mills instead of our mints.
remind you of the fact that there is
no use to open the mills land mines)
uutil the people are able to use what
the mills produce. If our people were
able to buy what the mills produce
you could then open the. mills,> but
you destroy the consumptive capacity
of the people and you close the mills. !"
That is the kind of statesman they
ask you to vote for. His party de-
stroyed the ''consumptive capacity"
He leaves the people to suppose that
he is going to coin silver and make a
free distribution of it, so that the
people can spend it and thus make a
demand for the product of the mills.
Now, there is no way under the sun
to acquire money except by gift, by
theft, or by work.
Next, let us read what Major VIM.
Mckinley says in his letter of ac-
ceptance. SIT is not an increase in
the volume of money which is the
af h,,k -,