The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-03
Billions TO Be
Made by Fiat
From the Post-Express.

Mr.. Bryan is authority for the state
ment that the free coinage of silver by
our government, at the ratio of IL to l..
would raise the price of silver from 66
cents to sl.29 per ounce, and thus bring
the white metal to a parity with gold.
ana Keep II there. OF course, as has been
often shown, this would not relieve the
debtor class, in addressing which Mr..
Bryan is especially eloquent. by enabling
1t to pay its obligations in deprecated
currency, and cheat creditors; but u
man Of the fertile imagination and ex-
uberant rhetoric of Mr.. Bryan is not re-
quired to be consistent. Let us follow
him to the legitimate conclusions which
his postulate of silver at sl.29 per ounce
necessarily includes, and in doing this We
are indebted to the figures which Judge
Thomas. of Missouri, the assistant at
torney general for the postoffice depart
ment, and formerly judge of the Supreme
court Of Missouri, has prepared for the
New York Times.
Mr.. Bryan will concede that the price
OF silver bullion in this country cannot
rise here without rising everywhere. and
that such rise will apply TO all silver,
whether in bars or wares, as well as in
coin, throughout the world. According
to the official report of Mr.. Voorhees,,
from the finance committee, to the United
States senate. March 8. 1884, the present
supply of silver in it's various forms, Is
stated at S,00O000,000 ounces. This at Gt
cents per ounce is worth $3.50. 100000; but,
according to Mr.. Bryan, the iiat of the
government would increase its value by
5,Oi0, 100000, the largest part of this added
wealth being outside of our own country.
In gold standard countries the fiat would
substantially double the value of $ll2,-
O000O0 in silver coins in Great Britain.
s500.0O0000 in France. s215.0o0,0O0 In Ger
many, $5+,O00,O0O in Belgium, Sl6.0OO.OOO in
Italy, sil5,O00,OO0 in Switzerland. Sl55, 900
in Spain, $4,000, 900 in Austro-Hungary,
S55 600 in the Netherlands, sA.00 900 in
Turkey, etc, besides $625 100000 In this
country, and would raise all this money
nearly, If not quite. to par with gold. In
the silver countries it would double the
value of sil.0O0.OO0 in Russia, S5O,0OOO0O in
Mexico, $S,OOO,C0O in the Central American
states. $50, 100000 in the South American
states $3.50, 600 in India, and $795, ,oOo, 900
In China.
These are bewildering figures, but there
is even more in Mr.. Bryan's proposition,
for its realization will not only bring the
existing stock of silver to par. but it will
also safeguard future production, and the
price WOuIu StlHluldte Sucn pTOuuCtlOl
Here Is dream of wealth dazzling of pro-
portions No genii of Arabian fable could
evoke such marvellous riches but We SUBJ
nut that 1t must ensue II Mr.. Bryan's
premises are well founded. 1t Is, indeed,
repugnant to reason and contrary to en-
perience; its mere statement reveals its
absurdity; but 1t Is entirely consistent
with the style Of argument in which Mr..
Bryan and his associates indulge. Judge
Thomas ventures to ask, In view Of the
facts here presented, how 1t Is that 10000
600 people can affect the money of 1885,
100000 by statute regulation, while the l.
$780, GOV, 900 outside people cannot by legisla-
tion affect us. 1t is also suggested that 1t
Is but fair for Mr.. Bryan to state explicit
ly what he thinks would occur If his pre-
diction should fail to be fulfilled and the
standard of exchange should suddenly be
changed from gold to a silver basis with
no. or at best slight, advance in the
commercial value of silver bullion.
But this is not the kind of information
that Mr.. Bryan vOuchsafes. He sees, or
pretends to see only the bright side Of
the issue he presents. Having said that
the free and undimted coinage of silver
will advance its price to Sl.29 per ounce
throughout the world he there takes his
stand and no plodding statistician, hand
ling trustworthy figures and carrying the
claim of free silver to their logical ulti-
mate, can phase his oracular pretensioIs
or disturb his paramount verbOsity.