Arizona republican., 1896-10-28
ENTHUSIASM AT FLORENCE.
pr. J. M. Evans Addresses a
 Large Assemblage.
The Disastrous Elf c. of Free Coin- ag+, Measure Ably Presente1- Hoaroed Money One Cause of the Depression.

age Measure Ably Presente1-
 Hoaroed Money One Cause of the
 Depression.
 FLORENCE, Ariz., Oct. 27.-(Special Dispatch to The Republican )-There was a rousing Republican meeting in this city tonight. and the amount of interest displayed furnished good in dication of the feeling that the best in terests of the territory demand the election of the Republican Ticket Dr. J. M. Evans of Phoenix was the prin- cipal speaker. He restricted his re- marks uo the paramount issue of the day.
 q know," said he, "that there are many very good men who believe in the free coinage of silver, but I could not see how they could believe in it if I did not find the same contrariety of opinion in religion that I do in pol itics.
 ''Now, in my travels over the coun- try during the past few months, I found but one condition prevailing, and that was absolute stagnation in business; everybody waiting to see what will be the effect of the coming election, waiting till they see what the prospects of a revival of business are after election We. have two parties; one believes thaI. we should maintain our present sound money standard, keeping all our money, whether gold silver or paper, at a parity and as good aS hp1 htat we should abandon our present sound money standard and adopt tue free and unlimited coinage of the silver of the world at the ratio of 16 to 1, in open defiance of all the great nations of the world, and place ourselves on a silver basis, claiming that we have not money enough and that it is more and cheaper money that we need.
 i Now let us examine into the facts of the case. Is 1t a scarcity of money or is it because the money of our coun- 1 try is hoarded and withdrawn from circulation from want of confidence? We have at the present time in gold | $626, ,000,0 900, in silver $625 ,000,0 ,000, in paper, 475,00O,000, making a total of 1 $1, ,726, 100000 all equal to gold, which, on a basis of 70,090000 population, gives us nearly $25 per capi,a Owing to the number of banks and the sys- tenn of credits throughoq1 the United States we need less actual money per capita than anywhere else in the world
 Our per capita of over $24 under our banking system is equal Ito a per capita of $100 in many countries We can do more business on s1 and make quicker turns than can be done on S5 in any country that has few banks.
 ''The banking capital of the United States exceeds one-third of that of all the countries of Europe. It amounts to S1, 400, 100000, against S3,5OO 000 ,0OC in Europe. The proportion of bank l deposits in favor of this country is much greater. These are in round fig ures: United States, $4,OOO, ,O00, ,OOO Europe, $6,50O,000 ,O00. It may be seen that we have about $50 per capita in bank deposits subject to call. The total clearing house exchanges of the United States amount to over $45,- 900, 100000. This is an incredible sum and these exchanges supply the place of a great volume of money. Consider. ing the aid of this circulation, we have much more money per capita than any other nation. France, with her S3t per capita actual money, has only about $20 per capita in bank deposits
 'We have an abundance of money if it was in circulation. The worst in. consistency of the advocates of free coinage is the ratio of 16 to 1. 'Tha sc osx much weight in a silver dollar as they would in a gold dollar. On this basis before either piece of metal is convert ed into stamped money, the piece O. gold would sell for 100 cents and tht piece of silver a little over 50 cents. I is clear then, that the 50-cent piece must be made iby law interchangeabl,
 with and practically redeemable il , gold, otherwise the two dollars woulC
 not circulate side by side. Yet tn, , silver theorist rails at the government for keeping a gold reserve Eo make thi
 5e-cent dollar pass for 100 cents. I the silver advocates want to coin al the silver in the world why don't the,
 propose to put 100 cents worth of sil yer into the silver dollar? It woul, then stand alone.
 Tn former ages and periods silve was in great request as a money me
 dium because the supply was very linn ited, but modern discoveries, appli
 ances and inventions have so in
 creased and cheapened the produc
 that it is fast ceasing to be of value a
 a money metal. While in former age it was turned out Iby the pound, it i now turned out by the ton and by tn l shipload.
 "The commercial law of supply an ; demand regulates the price of silver as it regulates the price of every othe
 known product, and it is not withi of oil