The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-08-20
ton, of gold and gold certificates, total

ton, of gold and gold certificates total
Of $49S, 1913, 34S: of silver, silver certificates.
subsidiary silver and notes issued upon the
purchase of silver under the Sherman law,
ii total of $54S, ACT ,629; or If the Sherman
notes be omitted a total of $45O.3SI ,123 of
silver currency, and all of 1t on parity
with gold. 1t thus appears that emitting
the Sherman notes, out of a total bmctal-
lie circulation of $949, 90, All gold exceeded
silver by only $4S, 451 ,225. If we take into
account our total stock of silver and gold
we find the figures to be as follows:
Total gold, $574 1920 100; total silver. sos.
2S3,967 a total of both of 81 .OS0 Sol, $50.
and gold out Of this sum, exceeds silver by
only $6S 236, 1855.
1t will thus be seen that silver is not
stricken down, but that it is in greater
favor than it ever was under free coinage.
In addition to our metallic currency we
had on the list day of June, 1896, paper
currency consisting Of greenbacks, Sherman
notes and national bank notes. amounting
in all to $7O3,354, 2S1, which, added to our
stock of metallic money. makes an aggre-
gate total of 81, 7S4. los. go, ard all Of it on
a parity with gold, and long as
silver currency is kept within reasonable
bounds and is not allowed to exceed in
volume our gold currency we may be able
to maintain the present parity, but the mo-
| ment you open the doors of our mints to all
the mine owners and bullion dealers of the
whole world and permit them to bring all
of their silver to our minis and have it
coined into silver dollars, without charge,
at the ratio Of 1G to 1, when the intrinsic,
or commercial. ratio is 80 to 1, there will
be such a silver deluge that it will be ut
terly out Of the question to maintain the
parity. Gold will disappear, be shipped
abroad. or melted into bullion; silver will
| be sole standard of value for itself
| and for our paper currency, and it will cir
| culate on its bullion value and will fluctu-
ate from day to day. The United States.
| the greatest and strongest nation on the
face of the earth, and which ought to have
! the best currency SYSTEM will then be de-
graded to the currency level of Mexico.
| China and Japan. And our farmers our
| producers and our labor will then be paid.
not as now in dollars equal to the best AMI
current throughout the entire world, but
! will be paid in dollars equivalent in value
to the Mexican dollar and the Japanese yen.
Our currency may increase in volume. but
| 1t will diminish in value and in purchas-
| ing power in proportion to the increase In
! volume. and in the meantime, while all
the rest of us will suffer more or less. the
| mine owners, the bullion dealers. the brok-
ers and the money changers will reap an
| immense silver harvest. and speculation
| will again run riot in Wall street, as it
did in the days Of the past under a de-
| preciated paper currency, when the gold
| room was open.
Can any American citizen. to whom his
country is first in war; and first in peace.
and who fully understands this aueS ion
| in all its consequences, have the heart to
| throw our country into this SETTLING and
heartless vortex Of silver speculati oa-this
maelstrom Of the silver mammon?