The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-18

when coined, just as gold has contin-
ued to be. 1t was because the govern
ment withdrew that recognition, dis
eliminated against silver and refused
to coin or recon it, that people lost
faith in silver and its value as COM
pared with gold deprecated
The value of a gold dollar rests alone
on the faith and credit of the govern
ment, and under restored bimetallism
the value of a, silver dollar would rest
on the same basis. But" say our OPP
ponents, 1.-The production of silver has
been so great owing to new discoveries
and improved methods that its value
has been destroyed, and we shall have
a flood of silver if we open our minis
to its free coinage at the ration of 16
to L.
The ratio of Is to / was established
more than sixty years ago, after a
careful estimate, which showed that
there was in weight, just about six
teen times as much silver as gold in
the world. The proportion of value has
not materially changed. The director
of the mint has issued a, table showing
the amount in ounces of
PRODUCTION OF SILVER WEIGHT
since that time has been little more
for hundreds of years men have been
accommodating great stocks of gold and
silver, which have become so enorm-
Gus that the production of any one of
five years or ten years can have but a
slight influence on their relative value.
1t was not increased production of
silver, but it was legislation, and that
alone, that caused the depreciation of
silver. Demonstration by France and
r. Ty,;f oI 10 too cd
silver to fall in value. The repeal of
the Sherman law and the closure of the
Indian minis caused so great and sud-
den decline as to clearly show the re-
lation of cause and effect. 1t was not
increased production, but destruction
of demand for free silver that caused
its fall in value. Now, we claim that
what legislation destroyed it can re-
store. We entered ON the road to gold
recommendation by legislation. Finding
that we make a mistake, let us go back
70 our starting point. That is the true
meaning of our platform. The conse-
quences of our mistake have been
most disastrous. Ever since 1873 prices
of everything have fallen proportions
ately with silver-a dollar in gold to-
day
WILL BUY TWICE AS MANY
common commodities as it would prior
to 1873 1t viii buy twice as much
land. Farms have shrunk nearly one
half. But the mortgages have not
shrunk, nor the taxes, nor the notes,
nor other evidences of Indebtedness.
Silver has not deprecated, but has re-
manned stable as compared with other
property. Gold has appreciated; its
purchasing power has doubled. Talk
of an honest dollar. An appreciated
dollar is just as dishonest as a depre-
ciated one. Our opponents even appeal
to the laboring man engaged in other
avocat;ons and tell him that the re-
monetization of silver is a scheme to
raise values in the interest of the
farmer alone. That it will result in
raising the cost of living without a cor
responding increase in wages. But let
US consider who they are who make
this appeal. Every monopolist, every
oppressor of honor, is
ENGAGED WITH MARK HANNA
in forwarding your interests by keep
ing down values and prices for your
benefit.
Who is Mark Hanna?
Go ask the sailors on the great lakes
the men whom his organized thugs