Owingsville outlook. [volume] (Owingsville, Ky.) 1879-192?, 1896-05-28

tons To these IA other sllNTr-Sttnu-
ard countries and will cause thu
withdrawal Of the advantages en-
joyod exclusively by gold standard
counties.
Here are the five propositions Of
the challenge, that nave stood over
wear unanswered and unauswcr-
able:
First. That there Is not a free
coinage country today that is not
on a silver basis.
second, That there isnot Il gold
standard country ia the world to-
day that does not use silver as a
money along with gold.
Third, That there is not sill
er-standard country in the world
today that uses any gold as money
along with silver.
Fourth. That there is not Il sill
yer standard country in the world
today that has more ;han one third
as much money in circulation per
capita as the United States.
Fifth. That there is not n sill
ver-staadard country in the world
today where the laboring man re
ceiyes fair pay for his days work"
BY the free, unlimited and indie
pendent coinage of silver the sill
verites who expect an increase of
currency are bound TO he sadly
disappointed, because all gold
money in this country will then
cease to he used as money and be-
come only a commodity, to be dealt
in like wheat, cotton and other
commodities. Our gold constitutes
one-third Of the currency, but j,
also gives double value to all our
other currency compared with what
the silver and paper currency would
be on silver basis. Thus, those
who expect an increased business
by reason of unlimited free coinage
of silver would find n circulation
reduced one third in nominal value
and the remaining two-thirds pei
capita worth only half as much a.
they are on n gold basis; so that
the purchasing power of all tho
money in circulation would be only
one-ihird Of what the total pur.
chasing power is at present. How
can even the same volume of bust.
ness S2rried on, let alone an ex-
Pvvoed lncr-sd business, With a
per capita of onf--~se-third III,
present purchasing power? II il
can be done at all, il will not caus,
any advance of the farmers pro
ducts, anyhow.
The volume of money .cal-only
be slowly added to by free coinage
OF silver, and viii be much les.
than is annually added at pres
rnt by the unlimited coinage o.
gold and limited coinage of silver
Secretary Carlisle, vino knows
says that all the minis Uf the Unit
ed States operated to their full ca,
pac!ty and doing no other worl
could not coin into standard silver
dollars two-thirds Of the annua
production of silver in our Owr
country. The capacity of oul
minis is only about so, 900, GOO an
nuaily. Yet, free and unlimited
coinage of silver would instant
ly demonetize our gold, whicl
Carlisle said on April 18th Wa:
about S620,O00,000. To suppl,
its place with silver would tax,
Fifteen years unless new mint:
were built. But if new mintt
we're constructed, which woult
take Some years 10 do, it woulC
still take several years to re
store the per capita. Meanwhile
the country may have gone to til,
demnition bow-wows. As il Is
last year were coined in the u. S
minis $43.933,475 in gold and So,
069,4S in silver. Gold is more
than sixteen times cheaper to coli
than silver, being of greater speci
fic gravity, softer, and also NOR,
easily refined, and consequent,
while the minis can coin only abou
forty million silver dollars pc
year they could coin over 500,
000,000's worth of gold money pc
year. That shows some of thu
natural advantages of gold owe
silver.
But the reasons favoring the re
tention of the present standard o
value are 50 numerous as to b,
practically unlimited. Though
while the standard is maintained
the faults of our monetary system
should be remedied. The nationa
silveri;e leaders do not propose no
purpose 20 remedy the evils: the,
wish TO revolutionize all values ant
money contracts and enter NJ on
course that we have boea warn,
against by all iirst-class authOritiot
who have sat in judgment upon i
unbiased by personal interest o.
pr litical ambition.
In conclusion we say to those
who would commit themselves tt
the silverite side: Ponder well tn,
step. Not only may the issue wrecl
the Democratic party, but it may
produce worse results. If free anC
unlimited silver coinage succeeds
at the polls and instead of making
times better makes them infinitely
worse there may be danger of the
people taking notion to go t.
cutting each others throats in al
internecine war.
BIG bets are being made in New
York that Mckinley will not b,