The Coconino weekly sun., 1896-08-27

me call your attention to one fact. The free-coiners assert, when they are told that the increased output of gold is going to tend very much and by natural pro cesses to solve this question. that from one-half to one-third of the gold annually produced in the world goes into the arts. This statement is probably an exaggera:. tion. It is probable that one-quarter of the gold of the world produced annually goes into the arts, and it has been doing it for centuries. Consider for q mo- meDt, my fellow citizens, what an enor- nous sum, enormous aggregate-three billions, perhaps four billions, of dolinrs are lying in the shape of golden orna- ments, thousands of dollars of them in this room tonight. Now I want to ask you this question, if there is a gold fam inc. if the power of gold is so absolute and tyrannical as it is claimed, if its possession in the shape of coin gives its owner such sway over the destiny and fortune of his fellow man, how is 1t that this enormous amount of gold, per- haps one-third of that which is in exist ence, has not shown the least symptom yet of going into the melting pot to be turned into coin?
 But we hear great deal about the de mOnetiZation of silver, and one would think to hear our frce-coiner friends de. claim that silver had been entirely de. nlonetized, that by some malign infiu. ence the money function of silver throughout the world had been entirely phrase. It has been very catching assumption, for will not call it an argu- ment.
 Now, I say, my fellow citizens, that, properly considering facts, that state. ment is inaccurate. not to say untrue. assert that silver has never been demon. etized in the sense in which that charge has I;s.!be been made. ARplanse, Demone; ; value as money, and say this has not been done with any dollar of silver coin that was ever minted at any mint. (Ap. plause.) It is true that many nations who have approached the danger line of which spoke few moments ago, when one metal drives out another, that many nations have told the owners of silver which lay concealed in the earth we will at certain price. Even that has not been entirely done. and l repeat my statement that the assertion that silver has been demonetized is one calculated to mislead. and is not true in fact.
 "The Crime of '73."
 All our woes are dated from 1873, the period when the free-coiners persuade their disciples that, to use their stock ex- pression, silver was demonetized, or that one-half of the aggregate wealth of the world was struck down at a blow. Now let us bring this statement to the crucial, absolute test of figures, of what records and statistics say upon this subject, and not trust to the vague declamation of you my authority for this statement in moment), the value of all silver coin in the world in 1873 was $1,S77, ,OOO, 900. In 1895 it was $4,1OO, 100000. The value of all the gold coin in the world in 1873 was $3,045, 100000; the value of all the gold coin in the world in 1895 was $4, POO, 100000. Of this quantity of si- yer current in the world in 1895, 3,439,- 100000 was full legal tender. Now at- tend to me for moment while the math- ematical deduction is made. By this statement it appears that the quantity of gold in the world increased. between 1873 and 1895, only $1,20O,OOO, 900, while the increase of silver coin for the same period was $2,2S3, 900, ,000-more coined in the twenty-three years since 1873 than remained up to that time of left the ark. (Applause.) And nearly double more silver has been coined than gold since 1873. What becomes, then. of the assertion of the equal and equable production of silver and gold from year to year since time began, and of the de- monetization of silver since 1873, in the face of this showing that, between 1873 and 1895 the coinage of silver was near ly twice greater than that of gold? They 1873 in the face of silver coinage throughout the world since that year of over $2,0OO, 100000, of which $53S,- 444, ,467 was minted by the United States! (Applause.) And of gold the United States minted during the same period $937, ,46O,633. And here, also, is answered statement confidently made and plausibly maintained, and yet errcn- eous in fact, that there has in all this time been an enormous contraction of the currency all over the world, yet these figures cOnclusiyely demonstrate that that statement is not true. Now, my friends, I have not taken this from the statistics of any other speaker or from any other book. l know where the statistics nre gathered with the care which commands the respect and confi- 29th of July (only q few days ago) telegraphed to the director of the mint regarding information upon these sub jects, and he answered me:
 Hon. c. K. Davis, St. Paul, Minn.: The total value of all silver coined in the world in 1873 l estimate to have been $1, ST 100000 and 1895 A,1OO,OOO, 900. The worlds stock of gold in 1873 is es- timated to have been $3. 3.O45, ,OOO, 900 and 1895 about $4,2OO, 100000. K. E. Pres ton, director of the mint" And these figures have just given you are the fig ures which l have just read in the otele- gram of the director. The greatest busi- ness transactions in the way of finance on the face of the earth are made upon statements like that, and when what 1 have said is discussed the only answer that will be made to it is probably that MT. Preston and the United States gov ernment is one general universal gold bug. Uaughter.)
 Now let me give you another state ment The coinage of the nations of the world in 1892, 1893 and 1894 was as follows: Gold. SIP, ,473,124; silver, $155, ,517,347 1893, gold, $232, ,42O,517; silver, $13T ,052, ,69O; in 1894, gold. S227.. 921 ,O32; silver, $113,095, ,7S3. A total in three years of $1 ,O30, ,3S9, ,49S. With all deductions for recoinage this output of coined money is of immense volume.
 Now l have thrown out these sugpes- tions and will pass from that branch of the discussion and call your attention to another assertion of the free coiners: I alluded to it cursorily few moments ago, but l propose to now treat if in the same manner in which I have treat. ed the last preceding question. The free cOiners assert that contraction has in. fiicted all the financial and economic miseries that mankind has endured since 1873. Now say that they themselves cOOlly propose to bring abOut n contrac,