The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-07-18
Gold, Silver, Ssts 1%s tsf sf r:,,:n:, Safety. m

to serve the worlds work as measures of
value. As We said above, all the silver
| save from all the work of the world
| amounts to only $50 per capita for our peo-
pie, and we have to pay to Great Britain
In interest and dividends every twenty
years as much gold, or its equivalent, as
there 10 gold in all the world.
l5 q. What would be the advantage Of
| remonetizing silver?
A. 1t would have the same effect that
would come from the finding Of a new
| gold field from which. within q year. 5000
million dollars in gold could be obtained.
| Its hrst effect would be to loosen up the
money that Is now boarded throughout the
United States and cause the men who own
| II to put II in property and to improve
| the property. 1t would double the price
| Of lands within a short time and all that
| comes from the lands. And that would
| make 1t necessary for 6,UQ.OVo farmers in
| the United States to employ at least 5000.-
| CIV more men that are not now being en-
| ployed. II the farmers crops could be
doubled In price ne would have Some
money to spare; and IL among the 50e0.O00
! farmers there was an average Of $50 apiece
that would make s25O,00o.oo4 per annum
| that the merchants and artisans OF the
| country would set which they do not GET
now.
l6. =. Is 1t not a fair criticism made In
the east. that the men OF the west want
silver restored simply to obtain q double
price for their product?
A. Not at all. Almost every state in
| the east Is much more interested in sill
Yer restoration than all the silver states
pur together. For instance, last year
| there were but Al, ,O00, coo ounces OF silver
mined in the United States. At the going
rates, that brought less than Ss3.OOO,0oo.
Now. take any large state Of the east and
| take any product Of the farm, corn. wheat
| or cotton, and see how much more people
would receive II prices could be doubled.
| Or, take q mixed state like Illinois or Ohio.
where there Is u large crop OF wheat. corn
| and wool. and See IL the price for those
| products could be doubled. how much great
er would be the gain of the people there
| than the gain of the silver miners. Then.
| about all the silver miners that We know
| are likewise gold miners, and 1t Is per.
fectly clear that II the price of silver
would double, the price Of gold would sink
one-half. That is. II u gold dollar now in
Chicago will buy two bushels of wheat.
| with silver restored u dollar would buy
only one bushel OF wheat.
II. .. Is It not true that silver has de.
clined in value because Of over-produc-
ton.
A. There is no such thing as the over
production OF silver. 1t has decrlned in
value simply because the demand for it
and recognition of it have been withheld by
the nations. 1t has never in all the history
Of the world changed in relative value 30
gold except through Legislation, and only
legislation Is necessary to fully restore 1t.
because gold and silver. when both recog-
ni2ed as money. are not like any other
substances. Every other substance is
governed by its commercial value. Gold
/, and silver are governed, when both are
recognized, by their money value. which
brings their commercial value up to their
money value.
IS. Q. Has the demonstration of silver
had any effect outside of reducing prices?
A. Yes, 1t has had the effect, through
the impoverishment of men, to increase
the crimes OF the country, the suicides, the
divorces. the lunatics and the occupants
of the work-houses. in the same ratio that
silver has fallen. In other words, it has
been a blow at civilization itself, and has
caused more mental suffering and pecr-
mary loss than would such Il war as the
war of the Rebellion. The estimated value
Of the property OF the country In 1890 was
10000 millions of dollars; that of the En-
pre Of Austria was 1900 millions; that
of Russia was 2l 900 millions. Since then
property in this country has so shrunken
in value that the, amount of the shrinkage
aggregates more than the total value OF all
the property Of either. Austria or Russia.
that the rural districts remain stationary
in population, while the people from the
, farms, the young men and women, so sooE
as they come of age. gravitate to the cities
with the result that more than half Of
them are lost
l9. Q. You have always been a RepuD-
lican. Is not the tariff really of more i'm
portance than the restoration of silver?
A. The present tariff is about the high
est ever known, except the Mckinley law,
and II absolutely falls to supply the needed
revenue. The reason is because the peo-
pie have not the money. and until the cur
rency question IL fixed. no tariff can bring
back prosperity. The money Of the
Orient-whch includes India, China and
Japan-of Egypt, of all Spanish America.
Is silver, and because of the demonetiza-
ton Of silver. their money Is worth only
half what our own is. See what chance
the American manufacturer has in COM
peting with the manufacturer Of China,
Japan or Mexico. II would take lOO-per-
cent tariff TO simply equalize the money
between our country and the Orient. 1t
IL the burning question of the age. and m
our judgment upon its careful final ADJUST
ment hangs the fact of whether this ma
ton is to last another two decades or
whether the Republic will be shattered in
the storm Of a new revolution.