Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-07-17
That "Sl ,ooo,ooo,o of silver held in

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the adoption of free coinage" as Elkins
asserts, is purely mythical. Does not
Senator Elkins know that, Immediately
upon the passage of law giving silver
the same access to our mints that gold
now has, not An ounce of silver can be
bought in Europe or elsewhere for less
than about $1.29 cents An ounce.
The reason must be apparent to every
student of finance. The United States
and Mexico produce about thirteen
! twentieths of the worlds silver. Is any
one so ignorant of the financial systems of
the nations of the earth as to suppose
the other seven-twentieths will not be re-
quired for money purposes and the arts
by all the nations of earth except the
United States and Mexico. If so, such ig-
norance is inexcusable.
PRACTICAL sUPPOsITION.
Suppose the United States should coin
all the bar silver that is brought to the
mints and pay for the same in coin GER
titicate or silver dollars at the pleasure
of the silver owner. Ninety-nine hum
dredths of them would take the coin GER
tiicates and the coin would be placed in
the vaults of the treasury as redemption
money. The people could not be injured
but would be greatly benefited by such
action because this representative money
would go into circulation and prices
would necessarily advance, while this rep
resentative money would be "sound
money" for every dollar would have a
coin dollar in the treasury to redeem it.
But this wonld not suit the senator, for 1t
would meet out justice to the people by
restoring to them their rights as fixed by
the founders of the government, cheaper
ing the price of the dollar and enhancing
the price of all products and increasing
general prosperity.
The senator appears to have great con-
Germ for the laborers and wage earners,
fearing they may be paid in cheap or un-
sound money. Is there any money more
sound than the promise of the govern
ment to pay the face value of every dol
lar issued, in the coin of the realm, and
that a legal tender for all debts public
and private, with the coin in the treasury
to redeem every dollar of it? Such soph
istry should be beneath the dignity of
United States senator.
Again, senator, has it ever occurred to
your mind that the wages paid for labor
must be governed by the price or profit
received by the employer of labor. If
the price of the product of labor is low,
wages must be correspondingly low or
bankruptcy must soon follow. The gold
standard is the synonym of "sound
money" as the senator views it. Is this
true in fact? We will apply his own
illustration of the business mans notes.
The senator says we have over $780,
100000 of money. At the highest esti-
mate there is not over $400,000,000 of
gold in the country, and that, being the
only redemption money under the gold
standard, we have $4,0OO,0O0 to redeem
$10,000,000 of paper and silver money.
Gees of property to redeem them.
The senator appears to think the move
in favor of silver ls to get something for
nothing How rapacious these silver
men are! Want something for nothing, do
they? Do not you know, senator, that
this statement is without a single element
of TRUTH
"soMETHINa FOR NcfHING CHARGE"
The gold standard men, after robbiDg
the people of one-half of their money
and donblinp the yalue of the dollar of
49, ,o,ao,, o,a .,n;.o,;sts ,ou
'ao Wv noy san.a n " s;,"p. H"p", n;.% nut ~"
ing something for nothing because they
ask for the return of their own. Oh! that
the voice of our fathers, patriots and
statesmen, uncorrupted by Wall street
"u 1,i'. 4s ~" .ha ko., ".onoth;na uo 60. noth;no
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