The Providence news. (Providence [R.I.]) 1891-1906, 1896-10-08
A FEW SILVER ASSERTIONS AND
FACTS.

TIE stock In trade Of the free silver
advocates is assertion. They make state
ments without attempting 10 BRING for
ward proof Of their accuracy and In most
cases for the reason that proof Is imposs-
lille. Unless answered, however. these
assertions frequently mislead those who
that those who want TO understand this
important question should know the an
swers, in a word, TO the most important
OF these stock assertions.
Here are some of the most frequent
assertions of the friends OF free coinage
ana the facts which answer them.
]. That the free coinage OF silver will
make money plenty.
II will drive more than 5000, 000, 600 OF
gold out OF the country, and IL will re-
q qlIre years to replace this amount with
silver.
2. That silver was demonetized in 1873.
To "demonetize" means to abandon
the use OF as money. Up to 1873 We had
coined only 5000, 600, OF silver dollars,
since that time we have coined 423, 900, 900
silver dollars, and they are all in use and
all full legal tender.
8. That ths present hard times result
from the gold standard.
One cause of hard times is the contin-
ual agitation for cheap money. Inc
other Is supensio OF manu- facuring. due
to increased importation of manufactures
under the Wilson law.
4. That the gold standard hss.ruined
the country.
The wealth OF the country more than
doubled from 1870 to 1890.
8. That the gold standard has cut
wages in half.
From 1870 to 1890 wages increased 2s
per cent. and their purchasing power 81
per cent.
9. That silver is not legal tender.
silver dollars are legal tender to any
amount; subsidiary coins are legal tender
to the amount OF $40.
z. That free coinage will make 371li
grains Of pure silver sell for 81.
1hree-fourths Of the sarth's population
have free coinage OF silver, but 37lli
grains OF silver sell for So cents.
s. That this country is big enough to
adopt free coinage and restore silver's
value Independently OF the rest Of the
world.
II three-fourths OF the people in the
world have failed, how can 10000, 600
succeed?
8. That the "money power' has
oornered gold and made mon ey scarce.
There is So. 7Se, 4a7, 900 Of gold in the
world, and no com bination couIo posi- b ly
corner IL.
10. That we ara being driven into
bankruptcy Dy scarce money and high
interest.
In 1873 our circulation was sls.0i per
capita, in 1896 II was s22.90. The in
crease in the total money In the country
was much greater. Since 1873 rates OF in
terest have fallen 80 per cent.
IL. That the larger the volume of cur
rency the higher are prices.
France has $50. n per capita. swiizer-
land has s9.97. Prices are the same in
both countries.
II. That primary money only 10 q
measure of values.
Gold is the primary money OF both
France and Greece. France has S22.l
gold per capita. Greece has only %
cents. Prices are the same in both
countries
13. That the silver men demand bi-
metallism.
In his Centralia speech, w. j. Bryan
said "The Democratic party has declared
for a single standard OF silver" That
means silver monometalism.
IA. That free silver will rate wages.
From 1880 to 1895 a 49lo cent paper
dollar raised prices 1l6 per cent, and
only raised wages 43 per cent, while the
purchasing power Of the money received
for wages was reduced GO per cent.