The record-union., 1896-09-28
If SILVER SHOULD RISE
When Bryan is Elected and Free Coinage
Effected,
ld-Standard Countries Would Get the
Benefit Which the Democrats
Claim Would Result.

Claim Would Result.
Judge Thomas of Missouri at pres
ent Assistant Attorney-G General for the
Postoffice Department, and formerly
Judge of the Supreme Court of Mis-
scuri, gave to a representative of the
New York Times the following in
teresting statement Of his position on
the silver question:
Mr.. Bryan states that he believes
the free coinage of silver by our Gov
ernment alone, at the ratio of Ii to l,
would raise the price of silver to 81 %
per ounce, and he never tires of alleg-
ing that our Government is strong and
rich and powerful enough to accom-
plish this result without waiting or ask
ing for the cooperation of any other
country
In making this prediction Mr. Bryan
ignores the experience Of this and
other nations of the world in regard to
the coinage of silver during the last
lOO years. But, waving that, let us
see what his proposition Involves
presume it will be conceded by Mr.
Bryan and his adherents that the price
OF silver bullion in this country can
not be affected without at the same
time affecting it everywhere, and that
the rise in the price will apply to all
silver, whether in bars or wares, as
we'll as in coin, throughout the world
The figures l shall give, except those
showing the production of silver since
lS92, are all taken from a report sub
mitted by Mr.. Voorhees,, a free silver
advocate, ON behalf of the Finance
Committee of the Senate March ),
1894, which report is entitled Coinage
laws of the United States from 1892 to
1884, with an appendix relating to coins
and currency; fourth edition, revised
and corrected to August /, 1891. Pre-
pared under the direction of the COM
mittee':
OFFICIAL FIGURES.
According TO that report, page 275,
the production Of silver in the world
from 1893 to 1892 amounted to 1922
oOiI16 ounces, and there has been
produced since 1892 600000,00O ounces
In round numbers. Add this to the
other sum, and we have a total Of
e,122, ,11G ounces. 1 have no data
showing the production Of silver prior
to 1893, and hence l cannot give the
figures, but L think it may safely be
assumed that it amounted to as much
as the whole amount of silver that has
been lost or destroyed
In order to be sure that we are on
the right side, however, let us deduct
l22, oO7, ,116 ounces, and state the pres
ent supply Of silver in it's various forms
in the world at S,OO0,OOO,OOO ounces.
This isWorth 66 cents per ounce, or So
ZSO,OOO,OOO in the aggregate To this,
according to Mr. Bryan's opinion, the
legislative fiat of our Government alone
This is worth 66 cents per ounce, or 3d.
OiO,uOO,OOO. And, strange to say, the
largest part Of this added wealth would
be outside of our own country.
In gold standard countries the COM
mercial value of the silver coins in
circulation would be brought nearly to
the gold standard. This fiat of ours
would substantially double the value Of
Sll2,OOOO00 in silver coins in Great
Britain, $500,000,0O0 in France, S215,-
UOO,OOO in Germany, $54 100000 in
Belgium, S16,OOO,OOO In Italy, S415,-
UOuOOO in Switzerland, S3,OOO,OOO in
Greece, S155, 100000 in Spain, $1OOOO,-
oO0 In Portugal, $50, 100000 in Austro-
Hungary, So6,OOOOOO in the Neither
lands, $4,9OO,OOO in Sweden, $4, 400 900
in Denmark, $44 100000 in Turkey,
81 100000 in Australia, $4,000, 900 in
Egypt, and S110,OOO,O0O in the Straits,
besides $625, 900. 900 in this country, and
raise all this money nearly to par with
gold.
we are told that these countries not
only refuse to join Mr.. Bryan and his
hut a -;
with them in this stupendous enterprise,
which would add SO much to their
wealth, and in a large degree relieve
them from the burden now resting upon
them of keeping their gold and silver
coins at par with each other in their
circulation.
But how would it work in the silver
standard countries? This Government
fiat Of ours would at one fell swoop
substantially double the value of SILL
OOC, 900 in silver coins in Russia, $5O,-
CGC, 900 in Mexico, $1,000 600 in the Cen
trail American States, $4,000, 900 in the
South American States, $3.50, ,OO0, 900 in
India, and S125, 100000 In China, and
would at the same time double all the
private and public debts of those coun-
tries which have been contracted on
the silver basis.
A FAR-REACHING PROPOSITION.
But Mr.. Bryan's proposition is more
far-reaching than that. He asserts that
he believes that this legislative fat on
our part would not only bring the silver
now in existence to par with gold at
the ratio Of 1G to /, but would keep it
and the future production there, al
though doubling the price would here
after probably double the production.
I'm view of these facts, is there any
improperly in inquiring how is it that
we 10000 900 people can affect the
money Of 1856, 100000 people by a
simple statute, while the 1850, ,O0O, 600
people cannot by legislation affect US?
And are the people of Great Britain
and Continental Europe and many
millions Of Americans to be dubbed
money grabbers' and 'plutocrats' if
they hesitate to believe that Mr.. Bryan
has found Aladdin's wonderful lamp
and can produce these stupendous re-
suits? And are the millions Of people in
this country who have made contracts
and investments upon the present mon
etary standard, which is gold, and
which has been the standard at least
since 1879, and / think since 1884. to