The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-17
HON. CARL SEIZURE.
Continued from Page ~

Continued from Page ~
In planting, raising and harvesting ms crop.
He welcomed the railroad, the steamboat. the
low freights. the telegraph, which shortened
the distance between his farm and the market
and the banking arrangements required for
moving and selling his product. But as near
ly all our farmers had the same encourage
ment, 30 10 followed quite naturally that the
wheat crop Of this country increased from an
annual average of 81, 900, 900 bushels between
1870 and 1880 TO an annual average Of 475,O0O
900 bushels between 1890 and 1896. But also
foreign countries had the encouraging benefit:
new wheatfeids were opened In Russia and
the Argentine Republic and elsewhere, and,
according to Bradstreet's. very competent
authority, the wheat product Of the world
grew from 1850 to 1894 no less than AZ, 900, 600
bushels, while the worlds consumption is es'
tmated to Increase only 100000 to 10, co., 90
bushels annually. When the increase of the
world 3 supply thus gains upon the increase
Of the worlds demand. IL IL a wonder that in
the worlds market, which rules the price for
all exporting countries, that price should have
declinedi Is not this infinitely more ra-
tional explanation Of the decline In prices than
TO ascribs that decline to the called de.
monetization law Of 1873, which practically de-
monetized nothing, but was actually followed
| by an increase of our currency. nearly trebling
higher than IL ever had been before, and high.
| OF than IL is In any other country except onef
You might as well ascribe our civil war TO the
| great comet OF 1911.
Our Recent Silver Laws.
| Cowed by the uproarious cutlery which was
| started by the silver miners and taken up by
| the ''cheap money" men, congress passed two
| laws. one in 1873. the other In 1890, in pursu'
ance of which over AZ, 600 600 Of silver dollars
were added TO our currency, more than 30
| times as many dollars as had ever been coined
| before, besides a large addition to our sub
sidiary silver coins Our paper money was
| largely increased. 40 that while In 1873, the
| year In which the American people were said
/ TO have been robbed Of half their money-while
| in 1873, say, we had STA. 600 900 OF money in
the United States. we had So 27, 0OO,0 600 in 1885,
nearly three times as much. and while In
/ 1873 the circulation was Sls.O per capita. 1t
/ was So. 90 per capita In l69o-hfty times as
many silver dollars and many times more
/ money OF all kinds than this country had ever
/ had in Its most prosperous days-and yet the
price of silver In the market kept on falling
and the prices OF many commodities agricul'
tural staples included, continued in their de-
| clining tep,0cy. Now analyze this case.
Upon what S.ound do the silver advocates as
sert that the called demonetization Of silver
depressed pricesp According to their own
| reasoning, because there has not been sufficient
money to sustain prices Sustain what pricesf
| Those prevailing before 1873. But there Is
now three times much money as there was
in 1873 and much higher per capita circula'
ton. Well. what becomes OF their arguments
Some Of the silver philosophers have invented
q more mysterious phrase-that prices have
gone down because by the act Of 1873 the "mon'
ey Of ultimate redemption" had been curtail'
ed, only gold being available for this purpose.
But, according 10 the treasury statistics. we
had in 1873 only So, 600. 900 OF coin, including
subsidiary silver, in the country, and now we
have much over $500 .0O0, 900 Of gold alone, or
more than "a times much money OF ultimate
redemption" a. in 1873. And yet prices are
low. The man whom such facts do not con
| vince that the decline of prices cannot hav,
| been caused by any effect produced upon oui
currency by the act Of 1873 must have skull
| 80 thick that trip hammer would not drive I
sound conclusion through It.
How the Act Was Passed.
But hear myself asked. II this is SO, VIII,
| was this act OF 1873 passed secretly, surrep
| titiously, stealthilys For silver orators hav'
been persistently dinning into the popular ca
. for many years, until millions believed IT, thu
| story that the silver dollar was ''assassinated'
through the law of 1873 by some dark corrup
| plot. This fable has been 30 often and so au
thoritatively disproved that am unwilling 4
, take Ii up again in detail. senator Sherman
!, S,a shat recently in most conclusive manner
| / will only add that was :. member of tn
senate ut the time and know whereof affirm
| and emphatioally pronounce all the storie
about the act Of 1873 being passed surreptitious
iy; about senators and members being some
how hypnotized. so that they did not kno'
> what they were doing; about some English
man being on the ground with much money :
promote the demonstration of silver. and s
| on, as wholly and unqualifedly false. wis
20 be scrupulously courteous to my opponents
| But as q conscientious student OF contemport
neous history am bound to say that In the
L Ill - h.sswx ffAFtf ~
| observer Of public affairs l have never W n
e messed nor heard Of such unscrupulous, shame
less, persistent, audacious, cumulative, cigar
u | tic lying ~ has been and IL now done with r.
v | gard to the act OF 1873, ts origin, its natur
| and Its consequences.
What Would Follow organs Election.
Consider now what the immediate cons
o quences would be II MI. Bryan were electe
, president with q congress to match. Nj
Bryan would Of course be anxious TO ha,
{ his free coinage law enacted. but that coul
| not be, even II he called an extra session I
'' congress, until some time in April or Ma,
: i've or six months after the day Of election
4 But as soon on tho Ath Of November as the r
: suit Of the election was announced every bod
K would know that the parity Of gold and silv'
a would not be maintained
1t having been made certain by Mr.. Bryan
u election that the parity Of gold and silv'
would not be maintained, there would be
| rush upon the treasury for the gold in II
;. persons holding greenbacks entitled to r
q demption, and the gold reserve would be e
i hausted in a twinkling. Gold will instant
disappear from circulation to be boarded I
q exported. Why will IL disappearf Becau
!. every sensible person when making paymel
will prefer to make IL in the less valuable dc
J. lar and hold the more valuable gold doll
l. back for more profitable use. Gold will ther
4 fore quickly rise to premium, and we sha
be on the silver basis long before free col
; AGE law can be enacted. What does II mean
h | be on the silver bassf The word "coin," whe
ever 10 appears In the law, will NO longer me,
& gold, as IL was 90 far understood, but silv
J. alone. The greenback or treasury note 7
deemble In "ooin" will no longer be redeem'
y in gold, as heretofore, but only In silver. ~
10 United States bond payable In coin, no matt
!, whether gold was paid for IL or whether II HI
u been sold for the very purpose Of buying go
|e for the treasury, will be paid, principal nj
"a interest, In silver-repudiation as fragrant
70 the world ever witnessed. Our daily trar
il actions In buying and selling In paying al
N receiving wages, will no longer be carried
~ upon the basis of the gold dollar worth
r oents, but Of the silver dollar worth 30 cen
N or thereabout for the government will
longer hold up the silver dollar to the value
le the gold dollar. That 10 what the silver ba'
e. means. You can study In Mexico how
works.
70 The quantity Of gold vanishing from circul
ve ton will amount to about 5000. 600. 000 the d
appearances Of which will make a tremendo
~ hole IN the volume Of our currency. Near
ts one-third Of 10 will be gone, and what RENAL
T. will be reduced nearly one-half In purchase
power. But. says the silver man, there will
re free silver coinage to all the gap prompt
4, with coined silver OF silver certificates.
v" NO, my fellow sufferers. The disappearance
aoid will happen promptly after the eleoti
OF Mr. Bryan, and thcre will not possibly
| any free coinage Of silver for at least :
month"; and q, = will rs9SS c SSsc' many me
The Free Coinage Panic.