The Ely miner., 1896-10-14

L
coinage of the silver OF the world
would not bring the necessaries and
comforts of life back to our people.
This will only come with the employ
ment of the masses, and such employ
ment is certain to follow the re-estab-
lishment~of wise protective policy,
which shall encourage manufacturing
at home" Which of these leaders
will you follow? Which do you want
to be your next president? Which
| will you vote for?
THE TIMES DONE UP.
have no desire to impose upon the
time and patience of your readers by
further reference to the Times articles;
portions of which are insults to the
intelligence of it's readers. The
Times says: "If there has been no
contraction Of the circulating medium
of the nation, then the advocates of
free coinage of silver are foolish to
advocate an expansion, ETC." 1t has
never offered to prove by statistics
that there has been a contraction of
the currency. AS shown above, sta
tistics will not prove it. 1t is con-
victed of foolishness, but still harps
on its thread bare theory.
The Times treatise on banking
would have us believe that banks
should keep idle in the vaults, all
money deposited. Refutation is un-
necessary. 1t quotes the Times
Herald's reasons for the improve
ments in business. I can tell the
Times why. 1t is because OF the
certainty of the election of Major Nc
Kinley and the entire Republican
ticket.
The Times also has the presumption
to quote the N. Y. World. 1t fails,
however to note the date of issue,
which is usually done. Let us quote
from the editorials of the N. Y.
World of Sept. 29th: SIN many of
the states where a union ticket has
been agreed upon the Democrats and
POpulists combined 0utnumbered the
Republicans in 1892. But this is no
longer guide, inasmuch as in nearly
all the important Western states the
Republicans have since then twice
prevailed by overwhelming majorites.
In addition to this there has been a
demonstrated loss of 80 per cent in
the Democratic vote, in the test
elections held this year, and the in
dications are that, if nothing happens
to prevent, this loss will be very
general" Here is one of Oct. End:
CURRENT SILVER PALACES.
"That the free coinage of silver will
make money more plentiful and there
fore easier to get.
"Again stubborn facts knock out
shallow assumption. Under free
coinage in the United States from
1869 to 1874 the amount of money in
the country was $18 and fraction per
capita. Last year it was S34.33. This
year it is 1926.
SIN free-silver Russia the amount
of money in circulation per capita is
Sc. As; in gold standard England s2O.6S;
In silver-basis Mexico the circulation
per capita is $4.95; in the silver
Central American states $366. In
gold-standard Portugal s23.11; in gold
Australia $25.96.
"The descent to a silver basis would
Danish all our stock of gold $1,000, ,OOO,-
OOO) from circulation or use as money.
This is in conformity to a law of Cir
culation as old as coinage and as
inexorable as the law Of gravitation.
1t has never failed that the poorer
money drives out the better. And
this would cause a contraction of
nearly one-half our supply of hard
money, which silver coinage could not
make good in ten years.
"It is fallacious, furthermore, to
say that even a food of cheap coinage
would make money plentiful for the
workingman. No manufacturer, con-
tractor or director of any business
enterprise will make liberal or long
range plans for employing labor when
he does not know what the dollars he
is to receive will be worth from
month to month.
"There is no delusion at once SO
empty and 80 costly to workingmen
as that cheap currency will make
times good and money plentiful"
Another from Oct. Sd. ga great
deal of the money came from England.
L.,