Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1896-08-27


the objects Of anxious search as far
back as history runs, yet, according
to Mr. Harvey's calculation all the
gold coin Of the world can be melted
into "a foot cube and all the silver
coin in the world into a 66 foot cube.
Because gold and Arver are limit
cd, both in the quantity now in hand
and in actual production, 1t follows,
that the Legislation can fix the ratio
between them, Any purchaser who
stands ready to take the entire supply
of any given article at q certain price,
can prevent that article from falling
below that price. So the government
can fix price for gold and silver by
creating a demand greater than the
supply.
MAINTAINING THE BULLION PRICE.
international bimetalllsts believe
that several nations, by entering into
an agreement to coin at a fixed ratio
all the gold and silver presented, can
maintain the bullion value Of the
metals at the mint ratio. When a
mint price is thus established it regu-
lates the bullion price, because any
person desiring coin may have the
bullion converted into coin at that
price, and any person desiring bullion
can secure it by melting the coin.
The question upon which lnterna-
tional bimetallists and independent
bimetsllists differ is: Can the United
States, by the free and unlimited coin
age Of silver at the present legal ratio,
create q demand for silver which, tax
en- in connection with the demand al.
ready in existence, will be sufficient
to utilize all the silver that will be
presented at the mintsi They agree
in their defense of bimetSlliC princl-
pie, and they agree in unalterable op.
position to the gold standard. Inter-
national bimetallists cannot complain
that free coinage gives a benefit to
the mine owner because International
bimetallism gives to the owner of sill
YER all the advantages offered by in,
dependent bimetsllism at the ratio.
International bimetallists cannot &C.
cuse the advocates Of free silver of
being bullion owners who desire to
raise the value Of their bullion or
debtors who desire TO pay their debts
in cheap dollars, or 'demsgogues who
desire to curry fsvors with the people,
They must rest their opposition upon
one ground only, namely, that the
supply of silver available for coinage
is too large to be utilized by the Uni.
ted States.
FLOOD OF SILVER NOR FEARED.
In discussing this question we
must consider the capacity Of our peo-
pie TO USE silver and the quantity of
silver which can come TO our mints.
1t must be remembered that we live
In country only partially developed,
and that our people far surpass any
equal number Of people in the world
in their power to consume and pro-
duce. Our extensive railroad devel-
opment and enormous internal COM
MERGE must also be taken into consid-
GRAFTON. Now, how much silver can
come here2 Not the coined silver Of
the world, because almost all OF ii is
more valuable at this time in other
lands than it would be at our mints
under free coinage. II our mints are
opened to free and unlimited coinage
at the present ratio, merchandise sill
YER cannot come here because the Ia
Dor applied to it has made it worth
more 10 the form Of merchandise than
it will be worth at our minis. We
cannot even even expect all of the an
nual product OF silver because India,
China, Japan and Mexico and all the
other silver using countries must sat-
isfy their annual needs from the an
nual products; the arts will require 9
large amount and the gold standard
countries will need a considerable
quantity for subaldary coinage. We
will be required to coin only that
which is not needed elsewhere. But
il we stand ready to take and utilize
all OF it, other nations will be compell-
ed to buy at the price which we fix.
ovERPRoDUoTIoN NOT EXPECTED.
"Many fear that the opening Of our
minis will be followed by an enormous
increase in the annual production Of
silver. This is conjecture. Silver
has been used as money for thousands