Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-22

1AClouH IN the extreme.
First. Il has tainted with injustice
4 every time contract made anywhere IN
the gold-rsing world since 1874
Second. IL has all over this vast area
nfiiicted productive Industry with amaze
mia, AHphyxia, and paralysis. owing
| 10 which the worlds wealth today IL
less by billions than Il would DO had
joyed.
Third. It has split the commercial
earth In two. into q gold-emptoying
and silver-cnploying hemisphere. be-
tween which, 80 great IS tic dimculty
! OF exchange. commerce has ceased 10
be rational affair and has become
IN erect game OF hazard. Thus. In
another way. have tho Growth OF
wealth and the advance OF civilization
been retarded.
Fourth. by thus delanglnS interna-
tonnl exchange Il has discouraged aud,
upon a colossal scale. lcssencd In
amount. the loanlng OF capital by rich
countries to poor Infinitely TO the
disadvantage of both. SO. IN SIN third
way hindering the veal and progress
OF mankind"
But admitting these caiamltles It Is
said that as silver bullion measured In
gold Inns greatly deprecated In value
tho free, independent and unlimited
coinage OF silver at the present ratio
VIII drive out gold aud in1ato tho coun-
Try with silver When the Bland net
was pending In ISIS Il was predicted,
as now, that silver coinage would drive
out gold and lead to financial dcpres-
sion But experience emphaiicaliy dis
proved It. Then there was sis. 200 900
gold coin and bullion IN the treasury,
and when IL was repealed IN 1880 there
was S33l, 1904, JOG. In 1879 there was In
The United States, IN the treasury and
In circulation, S2i5,74l,SSi gold coin and
nd In
b63.02s. international balances In our
favor being paid In gold. The fact that
We feed and clbthe the world makoa
foreign countries cur debtors, draws
gold to us from those especially that
maintain that standard IN payment
for our products and win always pre-
vent an excess of gold exports. From
1873 TO 1890 there have baen only two
ycArs--1SSS and isS9--whon we owed n
balance. From 1878 TO 1896 the total
excess OF exports. tho balance OF trade
in our favor, was s2,26b,0OO,0o 900
During the five year period from 1873
to 1871. inclusive. when SILVER was not
coined, the liabilities Of commercial
failures we're S967,5l5,0QO. and for the
period from 1873 10 1882. when silver
was coined In only limited quantities,
thede liabilities were ssSt ,6s01i7, or
NS6,9s4 $50 in favor OF the latter Pc
Rod, Tn fear Of silver imitation is
tIubiiy ana IllhlltfAlE uniOundou.
Ihere being no accumulation OF silver
bullion In the world. and Hllverwaro
being xorth more than It's Icght IN
coin, the imitation must como from the
coin OF other nations aud the annual
production of the metal. The report
q the director Of the mint for 1896 put
the total silver coin Of the world at
5000 500 GOO. of which 1921. 800 900 is in
the United states. leaving foreign coin
S3,f4f 800 900. This foreign coin nor any
considerable portion would cor. here
for rccoinage, because no nation has
more than II needs, aud the cost OF re-
coinage would make II Improbable
Mexico and Japan are the only nations
where the ratio " greater than In the
United states. OF the total foreign sill
yer coinage there Is 1854 900. 900 ia sub
sidiary coin OF ratios varying from /
to 1890 In Russia 10 / 10 IL. eS In Egypt
worth l.S2 to LEO In gold per ounce.
This is needed in those countries Tor
change, and besides 10 recon II here
would work n loss from , TO 30 per
cent. India, China and the Strnits Set
Elements with si.sl5, 100000 silver coin
have no gold at all. and the Two last
no paper money, and, consequently.
silver would not leave them. This
would leave 81 .629, 900. 900 full legal ten
der foreign silver. II Il coined at the
rate OF l.32 1-2 per ounce, Is at par
with gold, the loss in recoinage here
would be per cent, or an aggregate
OF 1887. 600, and the proposition that
Il would be brought here II therefore
absurd. Tho total product OF silver
for the world in 1894 was S2i6. Sg2. 200,
and IL the whole had been coined In
the United States. reckoning the popu-
lntion at 70.000000 II would crly
amount 10 80 100 for each perpon. true
binietallism is only possible where
the coinage is unlimited. II has heen
well said that bimetallism is best
where the commercial and coin vnlnes
OF silver are equal, and this could not
be attained with limited coinage be-
cause the surplus denied coinage would |
fix the bullion price which would be |
less than the coin value. The indistriaf |
experiences OF the United States since |
1898 when the government declared |
against further silver coinage and the i
use of that in existence as redeemable |
money only, appeals strongly Tor its re-
storntion When the uncondi.i ,nal
repeal OF the Sherman law was urged, |
leaving no further guaranty Of silver /
coinage, II was freely predicted that
such action would restore prosperity
TO the country. But the dispr ,of tf tits
Is apparent everywhere. and the f,l-
lowing table shows what this and kim
dred policy has done:
State 1872