People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-07-02
tain money system possessing independ-
ent features. In 1870 the total exports and
imports OF the world were approximately
81 600 900 n0n and thnsa Of E-anaa n IL

per cent Of the whole. In 1889 the worlds
total was nearly 81, 900, 900, 900, and the
share of the United States was about ST..
coo, 900, COO, or nearly 10 PERCENT. While
1t is impossible to obtain data as to the
Internal commerce Of various countries
with completeness and accuracy, enough
exists to show US that a very much greater
percentage OF the total commerce Of France
in 1870 was foreign than the percentage of
the foreign commerce in the total trade Of
this country today. 1t is commonly con-
sidered that not more than 4 per cent Of
our trade IS with foreign countries, while
1t Is safe TO say that in France In 1870 full
ly three times that proportion In her trade
was Of that character.
In agriculture l have not ct hand the
figures for 1870, but MulhaIl gives the to-
tai value Of the worlds principal agricul-
tural products for 1887 at about $40, 74O,-
OOO, 900, Of which the share Of France was
~, 300, 900, 900, or somewhat less than IL
per cent, and that Of the United States
$3.50, 900, 900, or nearly 90 per cent.
There Is no doubt that the statistics OF
1870 and 1895 would show even a much
greater relative advantage on our part
than this.
In manufactures France, In 1850, pro.
duced approximately 81, 900, 900, 900 worth
out Of the worlds total Of sl2, 900, O00, 900,
or about Is per cent; In 1883, SO, 425, 600.
900 out Of S2S, 900, 900, 900, or less than 10
per cent. II her share for 1870 be taken
as the average Of these two years, she
would that year have produced about ls
per cent Of the worlds manufactures.
The United States, in 1888, had about g..
el5, 600 worth Of manufactures, OF
over 81 per cent Of the worlds entire prod.
uct. In 1870 the railway mileage Of
France was 9,770, and that Of the world
l2S,2S5, the percentage of France being
~. In 1895, of the worlds $40, 2Sl miles
of railway, the United States had 1853, 597,
being about Il per cent of the mileage OF
the entire world, and 26,732 miles more
than all Europe combined.
In 1870 the railway freight tonnage OF
Europe was 401, 900, OOO tons, of which the
proportion of France was 90, 900, 900 tons,
or about Is per cent. In 1883 her share
was 5000, 600 out of 765, 900, 900 tons, OF
10 2-l0 per cent, while the tonnage of the
United States was 9O,O0O,OOO tons, or
nearly eight times as much as that Of
France and three-quarters as much as that
of all Europe. OF "a like significance is
the comparative tonnage carried on canals
and rivers, being in France 1850, 900
tons in 1870 and "a, 100000 in 1885, as
against 100000 tons in the United
States in the latter year. The total canal
and river mileage of France is Z, 780, and
Of the United States 81, SS4, or 80 per cent
Of the worlds mileage of that character
Add to this the enormous capacity of our
great lake system, and the unequaled "a
cilities for the development of internal
commerce can be partially realized
A Convincing Comparison.
But the most convincing comparison az
q basis Of Judgment Of the matter in hand
Is as to the relative banking power Of
France In 1870 and the United States In
1890 1.-THE statistics for 1895 not being at
my present command) in proportion to
the total banking power of the world at
these respective dates. In 1870 the worlds
banking power was about IS, 900, 900, 900,
and that Of France was $500, 900, 900, or 4
per cent. In lS90-and the proportion IL
still more favorable to US In 1so5-the
worlds banking power was nearly &c..
600, 900, 900, and that of the United States
was so per cent Of that tremendous aggre-
gate, or IS, 100, 100000.
OF course the gold standard men will
point to the doubling Of the banking capac.
ity Of the world In the last twenty odd years
as proof Of the diminished need of money
and will cite the very exceptional equip
ment Of this country In that respect as an
argument that we cannot use any more pri.
mary money. But 1t Is too plain for dis.
pute that this great growth In the world 9
means Of economizing gold, ooinciding, as
1t does, 30 closely with the steps by which
the volume Of ultimate money has been
deliberately curtailed, gives convincing
support to our position that more primary
money Is crying need Of the world.
Credit has been expanded to the utmost,
far beyond the safety limit; gold has ap-
preciated beyond all precedent and TO try
10 meet the demands Of business this bank
ing power has been evolved. II Is an exact
index Of the increased need for primary or
real money and shows oonolusively that
the capacity Of the United States to-day 30
absorb q new supply Of real money Is al
most incaloulable. These considerations
are much enforced by the fact that our
vast territory Of Just touched possibilities,
with It's constantly multiplying popula-
ton, affords incompatible scope for the
operation and expansion Of the ensrgizing
functions Of an adequate supply Of primary
money.
Now, sir, as we have seen, there Is a de.
mand In the world for large additional
amount Of primary money. The enormous
appreciation Of gold and the almost In
oalculable multiplication Of credits are In
oontestable proofs Of Il. The supply Of
gold has not for many years come any
where near keeping pace with the demand,
30 that even the increasing facilities for
using 1t, Of which our gold friends have
80 much to say, have not awaited to keep
1t from rising ruinously. Dr. Soetbeer
and others have exhibited the immense
growth Of the demand for gold In the arts
and manufactures He showed how the gold
available for coinage averaged t9e, 900, 900
year frouS1S5l to 1870, but se4, 600, 900
year from 1871 to 1881. Mulhall says
that during the 80 years 18s1-lSS0, the
consumption Of gold was 100 tons more
than the production. In an article In The
Nineteenth Century Magazine for Novem-
ber 1889, the great statistician and gold
monometallist, CITIZEN, said:
1.-THE precious metals, 1t Is admitted ON
all sides, have an extensive nonmonetary
use. They are merchandise as well as
money. But few people realize that prob
ably this nonmonetary use is preponderant
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