The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-09-30
Y

5ls0L In 1873 we had neither gold nor
silver in circulation. The total Of our
money. including treasury coin, was
g7Ji .ssl 1903. July l. 1896. our money In
circulation consisted II gold coin. 1885,
iZs.is3; standard silver dollars, $50. 49,
9Js. with t37s.Gli.0f3 In the treasury:
subsidiary silver. 8 .s99.s0f; gold GER
tlncates. N2,22O. 759; silver certificates,
1891 ,25g. 500. "Shermans." 800. III .3gi;
"greenbacks," t225.45i .35s; currency GER
tlncates. ;3l, 10000; national bank notes.
12i5. 35i .s27. This makes n per capita
In circulation Of izi1O (see official
treasury reporL)
2. That the act Of 1879 destroyed
silver as money"
Under our limited coinage OF silver
we coined from 1878 to 1896, eighteen
years. a total Of tI7l, 927. 1920. During
the entire eighty-hve years previously.
with free coinage up TO 1879. the total
silver offered and coined was t222. 1885,
9zI. (Mint reportsJ
3-That the act Of 1873 was a gold
conspiracy against silver"
II was earnestly supported and voted
for by the senators and representatives
Of the silver states. The bill was re-
ferred 20 the finance committee Of the
senate April 2s. 1870: submitted 20 the
house June %, 1870; passed through va
rious stages. all public and Of record.
until February IL, 1873. when II became
a law. Csee Laughlin's "Bimetallism."
page 9s. or Congressional Record for
the years ~indicated)
g. That legislation can keep up the
price Of silver.
During the operation Of the Bland
Allison act ds7D. when the government
was buying t2.OOO.O 900 monthly. and dur
Ing the operation OF the Sherman act
1880. when the government was buy
ing "a. 600. 900 ounces annually, silver de-
clined per ounce from tll6 10 70 cents.
mint rcports)
o. That because silver cannot be
kept at par with gold, in a poor"
country like Mexico. It must not be
presumed the United States cannot
keep the metals at a
This is Suppression OF the fac that
all the countries now on the gold stan
dard tried to keep the metals at par
and failed, one group consisting Of the
combination OF France. Italy, Belgium
and Switzerland. Can the United States
hope to succeed alone where all the
greatest countries in the world, singly
or in combination. failed?
g. That gold and silver with free
coinage at l6 10 l is the money Of the
constitution"
Read the constitution.
Z That free coinage OF silver at 16
to l OF gold is the money OF Jefferson,
Hamilton and Jackson.
Read their writings. Each knew that
unless the coinage ratio Appropriated
closely to the market ratio the I'M
dervalued metal would not circulate
and advised accordingly.
s. Bryan garbles Blaine and quotes
Carlisle before the great era OF silver
production set in.
Read both ~ungarbled.
8. That dropping the silver dollar
from the coinage Of 1878 cut down
prices and wages.
So long as wages do not fall. decline
in prices is an indication Of prosperity.
From 1879 to 1896 the savings bank de-
posits increased from $500, 400. 29S to
81, Oil. S67. 500. This stands for surplus
after wages have supported the earn
ers. II is not hereditary wealth. That
seeks other banks, a non-partisan
committee OF the United States senate
reported in 1894 that in twenty-one in
dustrles wages were 40 per cent higher
in 1880 than 1860 and so per cent higher
IN 1891 than in 1860. The fall in farm
products was due to over-production.
other countries competing with the
United States.
10. That while free coinage Of silver
will advance prices of commodities,
II will also advance wages.
The same report shows that between
1860 and 1866, when gold went to a
premium, as it will under free coinage
of silver, the average price Of all arti-
Giles in this country advanced lie per
cent and the average increase in wages
was 43 per cent, although during that
time there were withdrawn from the
labor market $500, 600 men, making a
scarcity OF labor. There will be no
withdrawal now. Wages, therefore,
cannot rise. because the supply will be
in excess of the demand.