Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1896-10-16
AN ABLE ADVOCATE.
Continued from Fifth PAGE.

not be available for the payment of
all obligations and the transaction OF
all business, because that metal
which is the more valuable can be
exchanged at it's enhanced value into
the other metal which retains its par
and legal tender value. These con-
ditions are undeniable and point
clearly and distinctly to the face that
with a coinage value established for
gold ard silver, we, as nation with
internal resources more than suffi-
cient for our wants. independent OF
the world il necessary, would never
suffer depression from any uncer-
tainty as to our financial system OF
coinage.
Cause aud Eject.
with us as n nation giving to gold
and silver n coinage value of l6 to /.
there is no possibility of q change in
the bullion value in the two metals"
said Mr.. Barnard. except for causes
which | wall now enumerate:
"First-Should the demand for
one of the metals for use in the arts
or manufacturing be so great as to
make it more valua5 for those pur-
poses than for coinage.
..Second-Should a combination of
sufficient magnitude be formed 10
board one of toe metals and force q
premium over coinage value out Of
those who had to buy the metal for
uses in the arts or manufacturing.
al q those who should assume con-
tracts to pay their obligations in
that particular metal.
"Third-Should some other nation
adop. a different ratio Of coinage
value.
ssFourth-Shou,d one OF the metals
be produced in such overwhelming
quantities as tn destroy public conf
dence in it's value and The sustaining
of the other metal at a permanent
premium.
"Iegarding the first cause there is
not a shadow OF 2 probability of its
ever occurring. The demand for
either silver or gold in the arts or
manufacturing have never en-
croached upon the supply to an ex-
tent to affect its bullion price, and it
would be a wild flight of the imsgi-
nation to say that they ever will
Regarding the second cause, it
could not occur, as the profits that
could be secured out of those who
use the metal in the arts and manu-
featuring would not be a compensa-
ton for the amount involved and
there would be no cause for anyone
to assume an obligation payable in
any particular metal when either
metal was available and legal tender.
AS to the third cause. should any
other nation adopt q different coin
age ratio, this would correspondingly
change the bullion value and j..
would simply result in an exchange
Of metals, ii the difference in bullion
value was sufficient to pay the cost
of shipping the appreciated metal
out Of our country and the depre-
ciated metal back to our country.
As this would be an exchange in our
favor either way. it would have no
effect on our financial condition, ex-
cept to increase our circulating me-
dunn. So it is clearly evident that
should other nations adopt a differ
result: to our advantage and would
cause no financial disturbance.
Regarding the fourth aud last
cause, should one of the metals be
produced in such overwhelming
quantities as to eugender public dis
trust in its monetary value. Ac-
cording to the United States mint re-
port of 1894 the gold and silver pro-
duced in the world from 1892 to 1898
was as follows: Gold. S.. 1881, 047,-
000;. silver, $500, s97 900. The sta
tistics are based upon coinage
value Of l6 to /. The productions
for 1864 and 1895 are approximately
| the same. and the estimate for this
year is abont the same. The year
1898 showed the largest percentage
in favor OF silver Of any of the recent
years in the history of the two met
ais, the ratio in total ounces pro-
duced being PISS to /. Is there
any thing in this situation to cause
any alarm as to an over-production
of silver or to create di.trust rs to
the bullion ratio of silver il given a
coinage value?"
Mr.. Barnard went into q further
convincing argument in support OF
the bime,allic policy. and quoted
from history and statistical reports
to sustain every point advanced in
support of the position so admirably
taken. He was FIRM in his convic-
tions he said that prosperity
would not come to this country or to
the people OF any country under 8
gold standard until by law the free
coinage OF silver is resumed. II
will certainly not be accomplished
by the policy tina. is being advocated
by the republican party in this cam
paign, which means the destruction
Of the silver money Of this country
and reduction Of $500. 900. 900 OF
our circulating medium. According
to the most carefully compiled sta
tistics there is Of gold in the world
at the present time 81 csc. zoe. Oc0.
and Of silver $i.071. 200, 900. II all
this gold and all this silver was
coined and in circulation il would
only give the civilized nations of the