The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1896-08-29


for the oppression Of mankind. Now lei
} me call your attention to one fact The
free-coiners assert, when they are told
that the increased output Of gold Is goine
to tend very much and by natural pro-
ccsses to solve this question. that from
one-half to one-third of the gold annually
produced In the world goes into the arts
This statement Is probably an exaggera.
ton. 1t IL probable that one-quarter OF
the gold of the world produced annually
goes into the arts, and IL has been doing
IL for centuries. Consider for a mo-
meDt, my fellow citizens, what an enor-
nous sum, enormous aggregate-three
billions, perhaps four billions, of dollars
are lying in the shape of golden ornn-
ments, thousands of dollars of them in
this room tonight. Now l want TO ask
you this question, If there is gold fam
inc. IL the power of gold is so absolute
and tyrannical as II Is claimed, IL Its
possession in the shape of coin gives Its
owner such sway over the destiny and
fortune of his fellow man, how is 1t
that this enormous amount of gold, per-
haps one-third of that which is in exist
ence, has not shown the least symptom
yet of going into the melting pot to be
| turned into coinI
But we hear great deal about the de-
monetization of silver, and one would
think to hear our free-coiner friends de-
| Chilli tHut SILVER Deeu eHtiIciy ue-
| monetized, that by some malign infu-
ence the money function of silver
throughout the world had. been entirely
abrogated. and it Is very catching
phrase. 1t has been very catching
assumption for will not call it an argu-
| ment.
| Now, l say, my fellow citizens, that,
properly considering facts, that state
| ment Is inaccurate not to say untrue.
| assert that silver has never been demon
etized in the sense in which that charge
has been made, (Applause.l Demone;
| tzation means to divest of standard
| value as money, and / say this has not
been done with any dollar of silver coin
| that was ever minted at any mint. ZAP
plause.) 1t is true that many nations
who have approached the danger line OF
which l spoke n few moments ago, when
| one metal drives out another, that many
| nations have told the owners of silver
which lay concealed in the earth we will
not longer buy it at certain ratio and
Mt certain price. Even that has not
been entirely done. and i repeat my
statement that the assertion that silver
has been demonetized is one calculated
to mislead. and is not true in fact.
''The Crime of 49,"
All our woes are dated from 1873, the
period when the free-coiners persuade
their disciples that, to use their stock ex-
preston, silver was demonetiZed. or that
one-half of the aggregate wealth of the
world was struck down at blow. Now
let us bring this statement to the crucial,
absolute test of figures, of what records
and statistics say upon this subject. and
not trust to the vague defamation of
any person. The value land l will give
you my authority for this statement in a
moment), the value of all silver coin in
the world in 1873 was $1,SI7 .000, 900.
In 1895 it was S4,100,000.000. The
value of all the gold coin in the world in
1873 was $3,045, 100000: the value of all
the gold coin in the world in 1895 was
81, POO, 100000. OF this quantity of sill
yer current in the world in 1895, So, 439,-
100000 was full legal tender. Now at
tend to me for moment while the math-
ematical deduction is made. BY this
statement it appears that the quantity
of gold in the world increased. between
1873 and 1895. only $1,000, 100000
same period was $2.2S3. 600, O00-more
coined in the twenty-three years since
1873 than remained up to that time of
all the coinage of the world since Noah
left the ark. (ApplauseD And nearly
double more silver has been coined than
gold since 1878. What becomes, then. of
the assertion of the equal and equable
production of silver and gold from year
to year since time began, and of the de-
monetiZation of silver since 1873. in the
face of this showing that, between 1873
and 1895 the coinage of silver was near
ly twice greater than that of gold? They
talk of the characterization of silver since
1873 in the face of silver coinage
throughout the world since that year of
over $2,OOO,O00,0O0, of which $685.
Al ACT was mnted by the United
States! (Applause.) And of gold the
United States minted during the same
period $937 ,4G0,633. And here, also, is
L.
and plausibly maintained, and yet erron-
eous in fact, that there has in all this
time been an enormous contraction of
the currency all over the world, yet
these figures conclusively demonstrate
that that statement is not true. Now,
my friends, l have not taken this from
the statistics of any other speaker or
from any other book. l know where the
statistics are gathered with the care
which commands the respect and conf
dence of the civilized world, and on the
Doth of July (only few days ago. l
telegraphed to the director of the mint
regarding information upon these sub
jects. and he answered me:
Hon. G. X. Davis, st. Paul. Mimi:
The total value of all silver coined in the
world in 1873 l estimate to have been
81 ST. 900. 900 and 1895 $4,10O,OOO. 900.
The worlds stock of gold in 1873 is es-
timated to have been $3,0i5, OOO. 900 and
lcOo hpout Ft,-OotVVO,opo. ". res
ton, director of the mint" And these
figures have just given you are the fig
urcs which l have just read in the tee-
gram of the director. The greatest bust
ness transactions in the way of finance
on the face of the earth are made upon
statements like that, and when what |
have said is discussed the only answer
that will be made to it is probably that
Mr.. Preston and the United States gov
eminent is one general universal gold
bug. uaughter)
Now let me give you another state
ment. The coinage of the nations of the
world in 1892. 1893 and 1894 was as
follows: Gold, $172,4T3,124: silver.
$155, 17.347; 1893. gold. $232. 400. SIT:
silver. S13T 90, G90 in 1891, gold, S227..
021 .O32; silver, S113,O95.7S3. A total in
three years of $1,039, $3.50 49S. With ali
deductions for recoinage this output of
coined money is of immense volume.
Now l have thrown out these sugges-
tons and will pass from that branch of
the discussion and call your attention TO
another assertion of the free coiners. I
alluded to it cursorily few moments
ago, but l propose to now treat II in
the same manner in which have treat.
ed the last preceding question. The free
coiners assert that contraction has in
| flicted all the financial and economic
,;ao,a, tbat H.