Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-08-21
Raising of Silver Bullion TO Par.


The gold men insist that the United
States alone cannot raise to par all
the silver money of the world. They
have never attempted to offer any
reason or explanation why this could
not be done, but have contented
themselves with the mere assertion.
We can offer some 6 God reasons why
it can and will be done. AS matter
of fact all the silver that it is neces-
sary to enhance IN value is the bull
lion that is now for sale in the
markets of the world. According to
the best authorities this will not ex-
coed 100000 ounces. To raise this
silver from 60 cents to $1.29 per
ounce, the United States will bid ST.
30, all Europe $1.35 and all Asia $1.3S.
Here are the three continents all be-
hind an increase of about $6,0OO,OOO
in the value of silver. No wonder the
goldites decline to assign any cause
why silver bullion cannot be ad-
vanced in value. AS to the silver
money, most of it is in the United
States and Europe and its money
value is already equal to its par bull
lion value and free coinage will not
change it's present status. Mexico
has about $5O,OOO0OO in coined silver
and Japan still less. India and
China have greater amount, but
there is not the slightest probability
that free coinage will have any effect
upon the money of silver nations ex-
cept to cheaper gold and commodi-
ties that are imported and exported.
AS these nations export more than
they import the gold standard of other
nations is great advantage to them
and bimetallism will seriously injure
them. The moment silver bullion is
raised to its price level as money it
will be just as easy maintained at par
as it was in former years.
Money as medium of exchange
for domestic purposes does not de.
pend on the commercial value of the
material from which it is made, nor
for foreign use if it is redeemed in do
mestic products that are wanted
abroad.
The sophistry of the insiduous or.
gument about raising all the silver
money in the world to par lies in this
From one-half to two-thirds of it is
already at par with gold and the bal
ance being already in use and badly
needed as a medium of exchange by
people who have only $1.50 to $4.5(
per capita will not he affected al
money by a change in its bullion
value.
If any country can create an I'M
limited demand at par for all the new
silver that is produced, the old stock
on hand and in use will be worth the
same.
Great Importance has been at
tached to the fallacy of being com
PEELED to furnish market for all the
silver that has already been coined o.
used in the arts. This silver will NJ
more come in competition with the
new product. than old wagons come
in competition with the sole of new
ones or old boots and shoes come il
competition with the sale of new
stock.
The ease of advancing to par the
value of all the silver bullion in the
world might be illustrated by the
familiar equilibrium of water.
Two tanks or reservoirs with con
nection at their base will be kept al
the same level by pouring water into
the smaller one even if the other ha
q thousand times greater capacity
The money and prices of comm oditie
J in silver using natior are exactly OF
; a par with these values twenty-fiv
, years when silver bullion was par
The equilibrium between money an
, prices has been maintained though
7 their money material has depreciate
l one-half,
6 -EUran.nxzAA.-u--
Value of Foreign CONS.