The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-26
SUPPLY AND DEMAND
VIII Regulate Silver's Value, Says e
Correspondents.

To the Editor of the Globe
Let us give to each other credit for hon
esty in our respective beliefs. You believe
in the gold standard, while 1 believe in the
double standard. You contend that in case
the free and unlimited coinage of gold and
silver becomes the settled policy of the gov
eminent it will result in driving gold out
OF the country, or cause its owners to hoard
1t. Has this not been done already? Accord
Ing to the report of the secretary of the
treasury, under date Of July l, 1896, there
was accounted for $500, 100000 in gold. $685.
100000 in silver and 1888, 300, 900 in paper or
grand total OF 81 sos, 400, 900. This, If really
on hand, would give a per capita allowance
Of $22.55. Now if the gold is withdrawn, we
shall have 81, DOS, 900, or a per capita Of
$14.14, an amount far too small to carry
the business Of the country, and there will
be demand for more silver, and this demand
viii enhance its value, just how much no
man can tell, but, like all other commodi-
ties, the supply and demand will regulate its
value It is amusing to hear the Republi-
cans claim that the recent rise in the value
of wheat Is due, as they claim, to the abso-
lutte certainty OF McKinley's election. (Pa-
renthetically let me say that I believe moth
ing Of the kind, but feel assured that Mr.
Bryan will be our next president) The sill
yer advocates also claim that the certainty
of Bryan's election has sent wheat up. Both
are wrong 1t matters not who is elected
the price Of wheat will be regulated by the
supply and demand with occasional fluctu-
atoms. The failure Of the wheat crop in the
north of England, and throughout Russia
India and Australia has reduced the supply
and increased the demand, and, of course,
the price went up.
You contend that, should we come to a sill
yer basis. our money would become
MexicaniZed in other words that we would
come down to a level with that country. Please
compare silver Mexico with gold Turkey, and
which is the most prosperous? In which
would you prefer to cast your lot? I am per-
Suaded that the value Of our silver dollars
would differ fhAcA full o.
much as our peoFle differ from the inilz0-
1tants of that country. They are t11olent
thriftless, and far behind our people At this
time they wooden plows such as were
used hundred years ago. and other agri-
cultural implements long since discarded in
this country in use among that people
They are slow to change the habits and Gus
toms of their fathers. This is shown by the
impression their dollar. Where the CITY Of
Mexico now stands was once occupied by the
Toltecs. The Aztecs decided on dispossessing
them. Accordingly the Aztec braves marched
up in the vicinity Of the Toltec camp and
on the morning Of the attack an eagle was
seen sitting on cactus bush with a snake
in its beak, and beyond the sun was rising
ABOVE the horizon. These were considered
favorable omens, and the columns moved for
ward to the attack. The Toltecs were beaten
and driven from the field The first money
that was coined had the cactus bush eagle
ana snake on one side and the rising sun
ON the other and no change has been made
since then. mention this to show how these
people adhere to old forms and customs.
IN late years many Americans have set
tiee III Mexico and infused into some of the
natives their spirit and enterprise. Their
dollar Will purchase in Mexico, not 90 cents
worth, but 100 cents worth of what thew
nave 1or sale. Should we have free coinage
IL stanos TO reason that our dollar will be
worth much more than theirs for our en-
ferprising people will require more money
mus creating demand, and just as in the
case OF wheat or any other commoditv SIM
ply and demand will regulate the value of the
ooliar. Another advantage will come to us
IN our ability to trade with other countries
on silver basis. England cannot compete
with US In Asia or any other country with
silver standard
As before stated we are supposed to have
$625, 000, 900 of silver Of this amount s54e
100000 are full legal tender for all debts
public and private, while s75, SOC, 900 are in
halves, quarters and Dimes and legal fen
Ger Tor $40 The lifetime of silver coin is
said to be thirty years, but does any one
Deleve that If Mckinley Is elected these
legal tender dollars will be permitted tn live
out their days? VIII 1t not be reasonable to
suppose that agencies and influences that
elected him will be great enough to secure
the passage OF a law calling in these dollars
Tor the purpose of receining them into sub
sidiary coin, legal tender for 80? Would not
such course practically, destroy silver as
medium Of exchange? With all the gold and
silver we have at present the laborer finds it
hard to earn dollar. VIII It not be mora
difficult IL silver is practically withdrawn?
Much is said about national honor - and
one reading the gold papers would believe
that the Republican party and the one
launched at Indianapolis were the especial
custodians Of the same, but 1 venture the
assertion that the Democratic party Is as
loyal to the honor and integrity Of our coun-
Try as they are, and | believe if the truth
could be known we have among the adher-
ents OF Mr.. Bryan fully as many honest men
as could be found in either, or both, Of the
other parties. This talk about paying debts
IN bo,cent dollars is all nonsense No one
VIII nave the opportunity OF settling with
creditors at so cents on the dollar If we
have free coinage, for I believe within six
months after the dollars begin to roll from
the mints they will be 1oO-cent dollars and
SO does every one who considers the subject
of supply and demand as applied to silver.
Under the shadow of Muldraugh's hill. in
miserable howell. surrounded by evidences Of
extreme poverty, God brought forth Abraham
Lincoln to rescue the country from the
greedy NAV of secession, dissolution and re-
bellion, and I firmly believe that He has
called William J. Bryan from the plains of
Nebraska to save our country from iinan-
cial wreck and ruin. which I honestly be-
lieve will come to US IL we adopt the gold
standard for all time to come.
r w Johneon