The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-09-19

the credit of the country, the promise
to make il as good as gold.
That is the reason why, even TO the
foreigner, IL is worth par, less the cost
of transportation.
Under free coinage, however, the COW
enant of the greatest nation on the
earth, with its magnificent credit, is no
more, and the silver dollar of America
takes its place with the silver dollar OF
Mexico, with it's rattlesnake and cnctus
embellishments, worth its intrinsic
value, no more, no less.
The proposition OF Mr.. Bryan and his
followers is a proposition to Mexican
ize the United States of America.
But suppose Mr.. Bryan will protest
against comparing Mexico with the
United States OF America and insist
that the same rule will not apply.
He will say, doubtless, 1--WE are the
greatest nation on the globe" and say
amen 10 every word; but / go farther,
and declare that big man is just as
liable 10 get hurt when he forgets the
laws of nature as a little man-aye,
more; there is more of him, and he has
got farther TO fall.
The more man, the more conclusion.
, The greater the nation, the greater
, the fall thereof.
With free coinage in the United
, States we say TO the Mexican mine
owner, bring on your 50-cent silver
, your silver mined with 15-cent labor,
and we will stamp il with the Goddess
OF Liberty and return to you a dollar
4 which we have declared by law shall
stand for 100 cents.
. Honor bright, isn't sixteen TO one
: or bust" on the part OF the United
States great thing -for-Mexico?
5 Yea, verify.
The free coinage advocate forever
; fails to speak of the law of supply and
: demand and it's relation to money and
: currency. He invariably leaves the
matter OF production out of his financial
calculations. A step that might hav,
d been taken with safety 25 years age
: might be fatal to-day.
A tremendous element OF danger IN
q the path OF free coinage is that the pro
duction OF silver in the past % years
b has far outstripped that of gold. ant
/ hence the price of silver has irresistiblN
: declined from natural causes.
O In 1870 the worlds production Of golc
: and silver in fine ounces was as fol
10 lows:
1890, gold. SO. g7o.oSe silver sosl 50
1892. gold. 80 6.s2s. 272 silver ...... .ib2O62.OO
You will notice that while the gol'
product has increased slightly, the sill
yer product has nearly quadrupled IL
the same period.
In the face of this fact IL would b
as impossible for the United States Z
II maintain its dollars at a parity unde
e free silver coinage, sixteen to one, n
a. il is for Mr.. Bryan 10 determine wha
= political party he belongs TO.
= Our sixteen To- one advocates has
their demand on these propositions;
1. That there is not enough money I
- satisfy the needs of commerce withou
=, silver be coined in free and unlimite
- manner at sixteen 10 one.
q That gold has vastly appreciate
in value on account of decreased pre-
duction, and payments in gold wor
a infinite hardship on the debtor class
"a 3. To give back to silver owners wha
\. is alleged TO have been taken from theI
~ by the "crime of 1s73"-and stimulat
N silver mining in this country.
As to the first proposition it is III
tenable, because, as we shall shortl
~ show you, the circulation Of currenc
i'm this country has increased over 81
;, dollars per capita in 22 years.
=. We cannot here stop to speak of III
!, enormous growth in the use OF check
=, and drafts and their inevitable tendenc
he TO expand the circulation and meet II
necessities of business.
4. AS to the second point. 1t is also III
:, tenable because the worlds stock I
gold has kept pace with it's increase {
m business and population. And Il
~ worlds production OF silver has grea
~ ly increased, Notwithstanding the d
preston in price.
w As to the third proposition, sha
n have something 10 say later on.
'h' Mr.. Bryan and his school clamor for
larger per capita circulation and insi
sc that this would insure prosperity.
The truth Is we have larger p,
~ capita circulation to-day than ever b
fore. and have had all through Il
- panic.
The treasury reports show the p
u capita circulation 10 have been S25.a
- which Is nearly 50 per capita mo
IN than the circulation OF the prospero
1890 (s22.s2) and over SO per CAPT
OF more than the circulation OF the pro
DIV porous year OF 1880 Qo.4D; ss.o5 mo
than 1870.
ms Amount I'm Per
Year Circulation. Capt.
1860 ..............., 1896 ~, $50 90 Sl3
yer 1895 ................ ia 02 99S 90 20
ed 1870 ................ GN,2i2704 90 n
1875 ............ 754 i0i e4T % ~
Its ISS0 ga $50 22S o. 10