The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-16
some increase in the demand for silver

some increase in the demand for silver
in the arts
What is the relative condition as TO the
use OF silver as money? In 1873 the leading
nations of the world had free coinage OF
silver, except England In that year
Germany made gold the sole standard OF
value and called in all silver coins pre-
viosly issued. She thrw a large stock OF
silver on the market, including the in
demnity which she received from France,
for the purpose of obtaining gold. IN
1877 Norway, Sweden and Denmark enter
ed into a monetary treaty, demoneuZing
silver, which was ratified by Sweden and
Denmark in 1873, ami by Norway in 1915.
BY this treaty they adopted the single
gold standard and made silver a subsl-
diary metal 10 be coined on government
account only. for change purposes. In
1910 Holland adopted the gold standard.
In 1878 the minis OF the Latin Union COM
posed of France, Switzerland. Italy,
coinage of silver. Austria-Hungary sus-
pended the coinage of silver in 1879 and in
1892 formally adopted a single gold STAN
dard. In 1888 India closed her mints 10
the free coinage OF silver. Mexico, China
and some of the South American repub-
lies have still the free coinage of silver.
and of course are all on a silver basis.
Japan is on silver basis, although she
has discontinued the free coinage Of sill
yer.
With the discovery of new methods and
the enlarged use OF machinery, the cost
OF the production OF silver has greatly de-
creased within the hast twenty years. for
II II had not the enormous increase in
the production would not have been witt
messed in the face OF the decrease in price.
A QUESTION OF POWER.
Taking into consideration all obese facts
is 1t reasonable to believe that this coun-
try can, independent and alone, by the
opening OF its minis, restore silver TO its
Old position? Is it reasonable TO claim
that the effect which ali the leading ma
tons OF the world produced when they
closed their mints to the free coinage OF
silver, can be changed by this nation
alone? Is IT reasonable TO hold that the
metal which the leading nations of the
world struck down. can be lifted up to its
old place by the United States alone? If
the amount of silver produced in lSg6 was
the same as that produced in 1873, do you
believe that this country alone could make
such a demand for silver that it could
be coined at the ratio Of Is TO !. and be
kept in circulation with gold?
The amount of silver coined in the world
is worth about four billion dollars. The
United States must raise the price of this
silver from 6S cents TO Sl.2S an ounce, and
maintain IL at that price. or gold Will
not circulate 1t must double the price
of all the silver of the world or II viii be
brought here for sale and the price Will
be depressed in the United States.
The national Republican platform de-
clares against the free and unlimited coin
age of silver until an agreement IS had
with the leading commercial nations of
the world to restore silver TO its old posi-
ton. This is not a question of nerve or
States. 1t Is a. question of ability. OF
power. If / believed We could raise the
price of this commodity 10 par with gold
by act Of legislation, I would favor II,
but believing we cannot. / am in favor
of maintaining our present standard until
an agreement can be reached and a double
standard adopted.
Those of US who favor "the existing
gold standard do not by that expression,
mean that We are in favor Of the disuse
of silver or its withdrawal from cIrcu-
lation. What is meant by "the existing
gold standard" is, that all money that IS
and that condition has existed since 1873.
We have q large amount Of silver in circu-
lation, and the platform declares that II
must be kept at parity with gold. 1
believe 1t is impossible to increase the use
Of silver in our currency. | am unalter-
ably opposed to a single standard Of sill
Yer. because that means deprecated
currency, but / am in favor and believe
that we can have larger use OF silver.
/ believe that il Is possible to add to our
medium the silver that Is the
product Of our own mines. and that with
out disturbing the equal value Of all our
coins or impeiring in any way the exist
ing gold standard.
Mr.. Bryan has jocularly remarked. IF
the existing gold standard IS such a good
thing, why do we want 10 get rid OF II
b. International agreement" We DO not
want TO get rid Of II, but We believe that
by an international agreement silver can
be raised in price and circulated with
gold. We are in favor OF the restoration
of silver, but we do not believe in the
esradation Of gold OF its disuse as money.
nor its withdrawal from circulation.
All countries that have gold standard
use a large amount OF silver France
has SO. $1,000 OF full legal tender SILVER.
Germany has $4,000. coo; the United States
has SO. 10000. but while all gold STANDARD
countries have large amounts Of silver
In circulation, not a single silver standard
country in the world has gold n circule-
ton. II Is the hope and earnest desire
d all the leading statesmen OF all nations
10 bring about an agreement that VIII re-
store silver 70 a place beside gold. II
nat Is done we will have genuine bimetal- [
ism. but until that is done. every nation
Tor Itself. must choose between gold as
is standard OF value or silver.
WEALTH OF UNITED STATES.
We are the greatest and richest nation 4
)n earth. We surISass IN wealth and DOW
y either France. Germany or Great Brit I
IN. We should not deliberately adopt a I
silver standard Of values. Tor nations do 4
his from necessity, not from choice. We &
should have a fnalciz! system which I
maintains both silver and gold In circuia- I
ion. Neither should be excluded The I
history u TINS nation IQF I'D years Ehcu4I 4
e2cn Us the proper course TO pursue, II 4
We but h4ed its lessons aid be gu.oesf Dy
hem When the two metals are coined /!
rec, the courage ratio must be identical /
With the commercial ratio or but one
METAL VIII be preSelte6 a. the Mats. IRE
,ns that - under valued VII be with
,raTn and the one that Is over valus4 i
VII alone remain IN circulation aT-d be
ONE the standard Of values Placing
he government stamp or q piece OF god 4
= silver dos nor furrez - It's valrya II
: only 3 certificate OF its weight and nne-
Jess. Ihtrty-oHe ounces % silver are now
Worth one ounce % gotl IN the yrls rt-f-. {
'ree coinage o. silver a. the ratio q - 10
WI Tot result 81 the coinage % both
netzsS Silver alone EiI be prezerfe-f
OF coinage and become ira STANDARD q
afues. Cold TiiI disappear. unless By
ne opening o. CIR minis 70 the c0.naxs
Z sllps- a. tbs ratlo. IS ounces Of silver
Tti once more 20 la& IN value ore ounce
Z Eoia ] believe thai the Gecrsaze g.
re pre- o. stiFET has hezn csus-sa By -
supply IN recent years ard b.
he 1ecrease1 demand The acton % tbs
alton alone Cid rot rSgsse tfs DC - AL
% one - ca rs The action q tbs IA
lon alone cannot restore he pgie- Of sli-
e. 20 w-,sst Il w-zs Wise---h pTircirzl "a
-O1s q TIRE world 1850 & FREE con
&c Al rot = favor o. silver ezarl-
ard - Tziues : favor ffe lzrEssr 5-ae-
lhls use q ssig--- IS fzfs rattol ard stu
San R,t1 ~ ctrcaLsfioE- ! believe that
- caz Ese tn proSucs . our oEa mines
Tfthoat placing - o. a skiTer bass. bat
re osn 70 20 fu--heT-
THE Fall. OF PRICES.
Ore os the srg-zrns1.s uost frcssza-Stiy
evs-cszf 81 tbozr % favor % he free
o-EaEs . sllEer. = ckTxs tFsre h<s been
Zen state thzt 4 - cz zcccsuf % -
losing q tks -sirte - tai s'esxr - fhe
0snass O. ne silver tcsaz<. TAey =eStecs