The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1896-08-13

silver in the future ever exceeds the re
quirements Of the arts and the needs o
commerce we confidently hope that tn
intelligence Of the people will be sufficien
to devise and enact any legislation neces
snry for the protection Of the public.
is folly to refuse to the people the money
which they now need for fear they may
hereafter have more than they need. an
firmly convinced that by opening oul
mints to free and unlimited coinage oil
the present ratio we can create demand
for silver which will keep the price of sill.
yer bullion at Sl29 per ounce, measured
by gold.
! Our opponents cannot ignore the fact
that gold is now going abroad in spite OF
all legislation intended to prevent it, and
no silver is being coined to take Its place.
Not only is gold going abroad now, but II
must continue to go abroad as long as the
present financial policy is adhered to, un.
less we continue to borrow from across
the ocean, and even then we simply post
pone the evil, because the amount Dor.
rowed, together with interest upon it,
must be repaid in approaching dollars.
The American people now owe a large
sum to European creditors and fallen
prices have left larger and larger margin
between our net national income and our
annual interest charges, There is only one
way to stop the increasing flow Of gold
from our shores and that is to stop falling
prices. The restoration of bimetallism
will not only stop falling prices but will
to some extent restore prices by reducing
the worlds demand for gold. The inter
ests Of society are far superior to the in
terests of either debtors or creditors and
the interests of society demand financial
system which will add to the volume Of
the standard money Of the world, and
thus restore stability to prices
Perhaps the most persistent misrepre-
sentation that we have to meet is the
charge that we are advocating the pay
ments of debts in 50-cent dollars. At the
present time, and under present laws, a
silver dollar, when melted, loses nearly
half its value, but that will not be true
when we again establish mint price for
silver and leave no surplus silver upon the
market to drag down the price of bullion.
Under bimetallism silver bullion will DO
worth as much as silver coin, and we be-
lieve that silver dollar will be worth us
much as gold dollar.
The charge Of reputation comes with
poor grace from those who are seeking to
add to the weight Of existing debts by
legislation which makes money dearer,
and who conceal their designs against the
general welfare under the euphonious pre-
tense that they are unfolding public credit
and national honor.
Gold Famine Improbable.
In answer to the charge that gold will
go abroad, it must be remem bered that
no gold can leave this country until the
owner of the gold receives something in
return for it which he would rather have.
In other words when gold leaves the
country those who formerly owned 1t will
be benefited. There is no process by which
we can be compelled to part with our gold
against our will, nor Is there any process
by which silver can be forced upon us with
out our consent. Exchanges are matters
of agreement and if silver comes to this
country under free coinage it will be at
the invitation of some one In this country
who will give something in exchange for it.
Those who deny the ability of the United |
States to maintain the parity between
gold and silver at the present legal ratio |
without foreign aid point to Mexico and |
assert that the opening of our mlnts vii, |
reduce US to a silver basis and raise gold |
to premium. 1t is no reflection upon |
our sister republic to remind our people
thnt tho Ifrifa1 fufa te
than Mexico in area, in population and in
commercial strength. 1t Is absurd to
assert that the United States Is not able
to do anything which Mexico has failed to
accomplish, The one thing necessary in
order to maintain the parity is to furnish
D demand great enough to utilize all the
silver that will come to the minis That
Mexico has failed to do this is no proof
that the United States would also fail,
Machinery Affects Gold Production.
In reply to the argument that improved
has lessened the cost of pro
iucing silver, 1t Is sufficient to say that
The same is true Of the production of gold,
md yet Notwithstanding thnt, gold has
'isen in value, As a matter of fact, the
lost of production does not determine the
1alue of the precious metals, except as it
nay affect the supply. So long as theIe Is
! monetary demand sufficient to take at
liked mint price all the gold and silver pro-
luced the cost of production need not be
considered.
IT, as it is asserted by our opponents, that
he free coinage of silver is intended only
or the benefit Of the mine owner, 1t must
70 remembered that free coinage cannot
estore to the mine owners any more than
took away And it must
lso be remembered that the loss which
he decentralization of silver has brought
o the mine owners Is insignificant com
JARED to tho loss which this policy has .
'rought to the rest Of the people The :
estoraton of silver will bring to the peo-
lie generally many times as much advan.
age as the mine owners can obtain from
t. While 1t is not the purpose of free
oinagc to especially aid any particular
lass yet those who believe that the res.
grafton Of silver is needed by the whole
cople should not be deferred because IN
Incidental benefit will come to the min.
wner.
The erection Of forts. the deepening OF
arbors the Improvement of rivers the =
rcction OF public bulldings-all these L
onlcr incidental benefits upon individu.
Is and communities, and yet these Incl
entail benefits do not deter us from max .
~ an appropriation for these purposes
herevcr such appropria tons are neccs.
Try for the public good,
The argument that silver dollar l.
nuviCr thana gold dollar, and that, there.
ire silver l. less convenient m cprrv In
'rgc quantities Is completely an swered
y the silver certificate, which is as easily
lrrcd ms the gold certificate or any other
ind of paper money, -
Carlisle Again Quoted. T
In 1878 Mr.. Carlisle said; Mankind 1
i'll be fortunate If the annual production
gold and silver coin shall keep pace =
it'll the annual increase Of population \
Id industry.'' I repeat this assertion. 81
ii of the GOLD and silver nnnualIy avail.