The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-01

! cations in dollars made OF gold have the
wages or earnings OF the great body or
the people been Augmented. Under the
| same rule The margin OF pront Is III
ninshed although the aggregate may De
| increased The rate OF interest on cap
| ital has been reduced: the common Wei
| fare has been assured and never IN the
httory OF any country has there Deeh
such industrial progress down 10 the
panic OF 1893 as has BEEN witnessed IN
this country since the end Of the clVil
war In 1865
Again. IL will be remarked that II
there has been any relation or cause ana
effect in the course OF the price OF silver
| bullion. the reduction I'm the price has
i found rs corrc.Rtive or complement IN
the advance in The rate Of wages. / DO
not myselr allege any relation OF cause
and effect but those who do will find
the evidence IN TIE foregoing table that
from lSl7 70 1873 by so much as the price
Of silver bullion was IsSsened were the
wages Of labor on gold standard aug
| mented
II f. now expedient 20 seek for the mo-
tive OF the promoters Of this crime against
labor I'm t.ln effor, 10 try to measure their
gains In the inconcelvahle event Of their
success. In 1873 the product OF the silver
mines OF this country WAS 27.650Oo0 fine
ounces. From that year 20 The year 1892
inclusive. the product steadily increased
IN the face OF tho declining price until 70
eliminated in 1892 WITH the product Of
| GO 10000 fine ounces Under the Bland
and sherman acts OF 1879 and 1870 the
debt Of the United States was increased
by n forced loan due on demand Of four
hundr,d and sIxty-forr MILLION dollars
The money thus borrowed was applied
70 the purchase OF a quantity OF silver
bullion nearly equal IN the entire product
Of the United States. namely $4,000 900
ounces At a price a fracSon over one
dollar m ounce. now rated Mt little
over sixty-six cents. without doubt that
artificial demand kept UP THE price OF
bullion since when ~ ceased with the re-
peal OF the Sherman act. the price OF
bullion fell as It had sharpely risen FOR
tine when thar act was passed. yet
the product OF silver bullion IN the
United Stares diminished hut little. ard
is now increasing while the product OF
the world was larger in 1928 than IL ever
had been. end f. believed 20 b. now In
creasing The figures OF 1895 are inter
esting.
Product Of the United Ststes-Finc
ounces =. ~ 600. Bullion value. SSO445.ooo.
Coinage. S2.O5l zoe. Difference. s25.so6. 900.
Other countries-Fine ounces le.o6s,Sl5.
Bullion value. 81 IS. 500. Coinage. ;i53,s4
0C0 Difference, SS.O6S,4o0.
Totals-Fine ounces. 17iTs5.Sl5: Bullion
value Sli4Sg7 500. Coinage. s226000ooD.
Difference. Sul G72. 400.
The advocates Of the silver miners. Mr..
r. O. Nsglands. member az Congress
from Nevada. and Mr. Bryan. the candi-
date q the silver Party OF Chicago. give
tho public assurance that in their iuis-
ment n rho force OF law de-
privtng the community OF any
choice in the kind OF moey In
which they viii deal is applied
70 the circulation Of coin a:
present dehased. all Tho silver 81 tho
world will be raised from the average
price OF 1885. Of sixty-siX cents an ounce
70 "A parity with gold az ;L29 per ounce.
There q curious Inconsistency in tho os-
tensfble purpose OF these gentlemen.
They advocate tie protection OF this pri-
vate interest on the ground that the gene
raj prices will be raised. but II the Sc
cure the profit which would insure to
them with silver az sL29 per ounce. what
Influence Will their acton have upon
prices II will then he necessary 70
give as many goods for silver as it is now
| necessary TO give for gold.
Mr.. Bryan holds TINT the choice or the
medium Of payment should be given "a
the debtor and mat the creditor should
be deprived Of any choice, but II the
profit Of the silver miners is assured by
bringing silver dollars TO n parity with
gold dollars ut Sl29 an ounce. the debtor
would get no advantage from this pro-
posed action. The only advantage would
come to those who are now trying 10
make the case Of tho silver miners. name
~ an enormous profit 10 them.
Referring 10 the previous table. n their
object could be attained. Mr.. Newlands
and his associates In the silver interest
would get n profit OF f33.6ObUuo upon q
nrodrct equal only to that Of 1875. but II
is perfectly well known tnat there arc
enormous quantities of low-grade ores.
which would pay n great profit at sL2s
an ounce which do not pay to work at
80 cents.
Tho policy which Nessrs. Newlands and
Bryan advocates would also oner a profit
TO foreign miners according 10 the table
Of 81. 06o 900 IN IS true that Mr.. Bryan
refers 10 this little matter as q mere In
cident which should not stand in the way
| % the adoption or the policy which ne ad
NOcater But there are yet more facts
| The German Government would imme-
diately relieve itself OF n large dead stock
| 81 worn silver coin. which IL failed Ia
sell soon after tho unihcauon Of its coin
! ace i'm 1S1-. IL IS Wen known that the
| States which constituted The Latin Union
| and which. on the termination OF that
agreement were Obliged to redeem worn
silver coin az Is - 10 /. have heavy stocks
on hand which cannot now be pui back
! into circulation
There are TWENTY-FIVE million more o.
less OF our trade dollars in China, which
| having been shopped or stamped by
| Chinese bankers have not been redeem
| ed I'm legal tnder dollars by MS. They
would come 10 our mint. Mexico which
still continues 10 supply China with silver
| dollars AZ cost Of a little over fifty
cents each would be offered the free use
| OF our minis and tho force 81 law 10 puf
her entire product one or the largest Of
the sifvep producing slater. upon our
people AZ 81 cents DIT ounce
Mr.. Bryans words In regard 10 thi.
| trifling incident are as follows. while
II IS not the purpose OF free coinage 10
|