Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-09-03
BRYAN'S SPEECH.
Delivered In New York upon Accept
Ing the Democratic Nomination for
President Of the United States.
THE MEXICO MATTER ANSWERED
Continued from last week..

THE MEXICO MATTER ANSWERED.
"Those who deny the ability OF the
United States to maintain the parity
between gold and silver at the present
legal ratio without foreign aid point
TO Mexico and assert that the opening
Of our mints will reduce us to silver
basis and raise gold to a premium.
1t is no reflection upon our sister re-
public to remind our people that the
United States is much greater than
Mexico in area, IN population and in
commercial strength. II is absurd to
assert that the United States is not
able to do anything which Mexico has
failed TO accomplish. The one thing
necessary in order to maintain the
parity is to furnish a demand great
enough to utilize all the silver which
will come to the mint. That Mexico
has failed to do this is no proof that
the United States would slso fail.
1T is also argued that since a num-
Der of the nations have demonetized
silver nothing can be done until all Of
those nations restore bimetsllism.
This is also illogical. 1t is immater-
ial how many or how few nations
have open mintF, provided there are
sufficient open mints to furnish
monetary demand for all the gold and
silver available for coinage.
PRODUCTIONS COST IMMATER1AL.
Tn replying to to the argument
that improved machinery has lessened
the cost Of producing silver, it is suf-
fcient to say that the same is true Of
the production Of gold, and yet, not
wlthstanding that, gold has risen in
value. As a matter Of fact, the Cost
of producing does not determine the
value of the precious metals, excep
as 1t may affect the supply. If, fol
instance, the cost Of producing golt
should be reduced 80 per cent with
out any increase in the output, thu
purchasing power Of an ounce OF golt
would not fall. So long as there is
monetary demand sufficient to taxi
at fixed mint price all the gold anC
silver produced, the cost of produc
ton need not be considered.
1T is often objected that the price
of gold and silver cannot be fixed il
relation TO each other because Of tn
variation in the relative production o
the metals. This argument also over
looks the fact that, if the demand TO
both metals at fixed price is create
than the supply Of both, relative pro
duction becomes lmmaterial. In tn
early part of the present century tn
annual production Of silver was wort
at the coinage ratio, about three time
as much as the annual production @
gold, whereas, soon after 1S49 the an
nual production Of gold became wort
about three times as much at tn
coinage ratio as the annual prcdut
ton of SILVER and yet, owing to th
maintenance of the bimetallic stanC
ard, the enormous changes in relatlV
production had but little effect upo
the relative values of the metals.
MINE OWNERS AND THE MASSES.
IF it is asserted by our opponent
that the free coinage Of silver is IL
tended only for the benefit of th
mine owners it must be remembers
that free coinage cannot benefit til
mine owners any more than demon
etizstion took away; and it must alt
be remembered that the loss which ii
demonstration of silver has brought
the mine owners is insignificant con
pared to the loss which this polio
brought to the rest Of the people. Ii
restoration of silver will bring to Il
people generally many times as muc
an advantage as the miners can o.
tain from it.
"Whlle it is not the purpose OF FRI
coinage to especially aid any psrticl
lar class, yet those who believe tn
the restoration of silver is needed
the whole people should not be d
TERED because an incidental benet
will come to the mine owner. II
erection of forts, the deepening
marlboro, the improvement OF rlVei
the erection of public buildings,
these confer Incidental Dement'S up'
individuals and communities and y
these Incidental benefits do not Diet
Us from making appropriations