Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1896-09-10
2l7 ALEXANDRIA. VA. THURSDAY EVENING. SEPTE
has been no contraction ofthe currency

has been no contraction Ofthe currency;
on the contrary there has been an enor-
nous expansion of the currency since
1873 when it is charged that silver was
demonetized. How dropping the silver
dollar from the list of q. S. coins when
there were no such coins actually in cir
culation could have contracted the cur
| lency | am unable to see. A silver dol
lar was then curio that could only be
found in museum or an old stocking.
The last report of the director of the
mint shows that in 1873 the total pro-
duction of gold and silver was less than
two hundred millions; and that the
amount of gold alone produced last
year wss over two hundred millions.
1t also shows that the volume OF Cir
culation has been doubled. Low prices
are due to new inventions of machinery
and scientific processes, that have IN
creased production more than the
increase of population. 1t should
be remembered, too, that the gold pro-
duced in any one year is not consumed
like wheat or corn; no doubt there is
gold that has been recoined and is now
circulating as money that once bore the
effigy of the Caesars. Money has been
cheaper, l. e., interest has been lower
in the last three years than it ever was
before, which proves that business de-
preston is not due to any contraction
of the volume of the circulating medi-
um. If money is lying idle in the
banks it is not the fault of the bank
ers. 1t is as absurd to talk about a
banker making money by boarding
it in his vaults as farmer making
money by letting his wheat rot in his
barn. 1t is the activity in the circulc-
ton of money based on confidence in
the future that makes prosperous
times. Those times will come with
Mckinley.
notice that you say that Debs and
Herr Most are for Mckinley. This is
certainly mistake as Debs has been
making speeches for Bryan, but recent
ly wrote letter demanding the sub
stitution of Tom Watson for Sewall.
His objection to Sewall is that he is
rich man-president Of bank, and
director in railroad company. Bryan
is man after his own heart. If the
populist schemes are carried out bank,
railroads, and all the agencies of modern
civilization will be abolished; farmers
will haul their wheat to market in OK
carts, and there will not even be silver
coins for babies to cut their teeth on as
the populists propose that all money
must be paper printed by the govern
ment. Two years ago Coxey and bis
ragged regiment camped near Alexan-
dria; they were driven out of the State
the point OF the bayonet by order O.
the governor. The stone that was re-
jected has become the head of the cor
ner; Coxey and his crew acted as escort
for Bryan on his journey through Ohio.
If the report be true (which l don't be-
lieve) that Most is supporting Mckinley,
only proves that Most is no longer an al ar
chist, but repentant sinner who has Joined
the church. If Most had shown his face in
the convention that nominated Mckinley he
would have been kicked out. AS mple
voter he would be no more in the republic
party (which the GAZETTE calls the plu
cratic party than drop of water in tn
Atlantic Ocean.
In the twin conventions that nominated
Bryan Debs and Altgeld, Co1ey and Tllimsn
we're the controlling spirits that framed their
platforms and dict,ted their candidates
Coxey will stick to Bryan just as the alba
tross cung to The neck of the Ancient Ma
riner. Respectfully,
JNo. S. MosBY
San Francisco, September 1. 1896