The morning times., 1896-09-02

gust 70 the liabilities failures $40 932 285 against
366 for the period last year, and
for 1894 AS the silver sentiment increases volume
money is making greater efforts find hiding places,
and should the coming election result in silver supremacy
half the business enterprises of the will be closed
i by tremendous financial upheaval No wonder Mr..
Bryan is endeavoring to prepare the country for this
great misfortune No wonder he predicts period of
intense depression But the public should be made to
understand that it is the seed he sowing will har-
ruin and Distress and that the existence of the sill
verte party is death to industrial and commercial life
i Let examine Mr.. Bryans argument concerning
fate OF the silver countries the clear light of facts
Japan has $6 600 900 of legal tender silver China
$3.50 OOO India has $3.50 OO0 O00 Mexico has
OOO and Central and South America combined have s42
900. The total legal tender silver of all these
tries sos 000 00O Shorn of imitation it's gold
value would be s829 $50. OOO The gold circulation of
the United States, according late Treasury report
5000 OOO only $228 850 900 less the gold
value of the legal tender silver system of the countries
referred to by Mr. Bryan As question of expedency
which would be most advisable to contract monetary
system 5000 600 adopting the silver standard
or bring the silver countries to gold basis and give
them stable money? Bear in mind that they lose
nothing by the operation. The wages and method of
living in the silver countries necessarily nggardy
that they cannot be measured by valuable
than silver consequently their silver would be retained
The total per capita circulation in China is only
s. 00 in Japan it S. in India is s. 3d. and in Mex
is Sass, and the purchasing power of their money
present little than half that of the ouey used
in this country Would it be right force the com
mon people of the United States to gauge their ability
wages and wants by the standard of country that
drafts, checks other bills of credit and limits the
money to sos per capita? Gold is the money of civ
lizatio. Silver belongs the semibarbaric nations:
Now for the business end of the silver propositions
Surely Mr. Bryan and his party attribute the
hinp % he iati IF lad
there been free silver agitation there would no
hard times would money be boarded for safe keep
ing The most prosperous decade in American history
that of 18801S9 when the voice of free silver was
lost the hum of the wheels of industry The enact
of the Sherman law in 1890 at the instigation of
the silver syndicate reopened the silver question: and
that the beginning of hard times. The panic of
1893 result of attempting to force up the price
of silver contrary to the law of supply and demand II
free silver dominates the November election the rava
of the panic of 1897 will be like racing cyclone
against zephyr compared to the hardshps of
the brought by the Sherman silver-purchasino
1t is simply impossible for the United States to
provide for the surplus silver of the world This fact
makes it to all thinking people that free coin
age silver monometasm and the adoption of a
silver basis silver basis necessitates a debased
standard of value and imitation of prices and the
silver-producer will be the only one benefited
Mr.. Bryan and his party claim that gold has appre-
ciated doubled in value, and that the opening our
nints to free coinage will it to decline If gold
has appreciated the increase of value be world
wide extended the of gold, and it puzzles
to understand how falling to silver basis and
driving gold out of circulation would better the sua
ton International bmetalsts say that the opening of
the worlds mints by agreement, at universal ratio
would remedy the evil of gold appreciation if suchl
a thing exists and all of them insist that the
remedy must be widespread the disease there
could be relief Looking at the question from any
standpoint the United States would fail to establish
bimetais and it is this knowledge that prompts peo
pie to hoard their money The certainty that revolu
ton in prices will cause of bankruptcy, should
the siyerites prevail is all that is necessary bring
a money famine. Ii
The demaeogues who are precipitating this panic