The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-07-23

1OIE6S, yet
A SIMPLE QUESTION IS PRE-
SENTED
10 sincere bimetallists throughout the
country, and that is whether they Will
permit differences as to non-eSsential
issues TO divide them, thus insuring
the defeat of their common cause; or
whether preserving their independence
of conviction and action as TO non
essentials, they shall accept the bril-
liant leader whom the Democracy has
named and, uniting all the silver FORCES
wherever organized, into one inylnclble
army, march to victory in November
next / apprehend that the singleness
of purpose which has thus far charac-
terized this organization will be ap-
parent in our deliberations here, ana
that its actions will be inspired by the
highest patriotism and by an earnest
desire for the advancement OF tne
great cause which means so much TO
humanity 1t is not intended TO
PAY DEBTS WITH FIFTY-CENT
DOLLARS,
or to drive away gold, or to debase our
currency. Our purpose simply Is, Dy
increasing the coinage and use OF SUI
yer and by giving it equal privileges
with gold, 20 raise its value, and by
diminishing the strain on gold, which
gold recommendation has caused 10
take away its unjust apprehension,
and thus by pulling up the Vaiue OF
silver and pulling down the value OF
gold, to restore the old ratio so that
sixteen ounces of silver viii be worth
in bullion, as well as in coin, one ounce
of gold Thus the old unit Of value
the dollar-based on both metals in
stead of one, will be restored and we
shall have a gold dollar worth one
hundred cents in silver and SILVER
dollar worth one hundred cents IN
gold If we are asked why this ratio
is determined upon
OUR ANSWER IS,
net only that that has been the GUS
toNa~y ratio for years, but also that
the total stock of silver coin in the
world is four thousand million dollars;
that the total stock of gold coin is
approximately the same. and that If
the total stocks of silver and gold
were each melted into a solid mass the,
silver mass would be about sixteen
times as great in weight as the gold
mass. We also answer that today the
rels tire production of the two metals
is ~ approximately the same proper
tion. We must establish by law some
relation of value between the two met
ais, and we propose to value silver
as it viii stand after restoration to
equality of privilege with gold, and
not while it is discredited by unequal
laws
1.-THE advantages of the restoration
of bimetallism are apparent. 1t will
not only give the world an increasing
volume of currency proportioned to the
increase of population and to the eX-
tension of business, commerce and en-
terprise, but it will do away with the
ddslocation of the exchanges that has
yfr-rsa or asJs,,- ell
yer standard Countries dislocation
which has immensely stimulated the
production of silver
'England's wealth consists in gold.
Our wealth consists in property and
products. England is a creditor ma
ton; the United States is a debtor ma
ton. England is interested in having
MONEY DEARER AND PRODUCTS
CHEAPER
We rely upon good prices for our
products in order to pay our foreign
sebts. England proposes to pursue "a
solicy which will increase the value
# the gold she owns. Ought not we
10 pursue a policy which will Increase
the value of the property that We own
and the products that we export? Do
the initabcrs of English policy in this
'ountry realize that there is a differ
ice in interests between the buyer
and seller, between the creditor nation
and the debtor or producing nation?
What should be our policy? Why, to
Increase the use of silver and in that
way increase it's value so as to restore
its old parity with gold We find that
the dislocation between gold and silver
las given the advantage in produc-
ton to countries that are not on a
gold basis; that their foreign products
whose prices are stable in silver al
though reduced in gold. are competing
with ours in foreign markets to our
own disadvantage, and that their man
ufactured products. produced at a la
Dor cost stable in silver, but reduced
IN gold, offer d menace in the future
to our home manufacturers, protected
though they be by tariff laws. We have
al stake the interests of the
GREATEST DEBTOR NATION OF
THE WORLD;
of the greatest silver producing nation
of the world; of a nation yielding the
greatest amount of farm products in
The world-farm products on which we
rely for the payment of our foreign
debts, and the prices OF which have
been driven down in gold as silver has
fallen. Our opponents, gentlemen, ex-
aggerated the difficulties of the task
y
it is only necessary to absorb the cur
rent product of the mines. The accu-
INFLATED stock is in the shape of coin
bearing the stamp of the various gov
ernments, and it is absurd to as
sumo that the owners of sllch coin viii
send ii here simply to receive the Amer
lean stamp. Silver coin 1T is and silver
coin it would remain. There is no sur
plus anywhere in the shape of bullion;
for the bullion in the treasury vaults
is constructively coined and is repre-
sente1 by silver certificates and treas
ury notes now in circulation. The
CURRENT PRODUCT OF THE
MINES
is now all absorbed in current uses
in the arts, in coinage and for other
purposes. Any demand that we create
would be a new demand and would
have a tendency to increase the value
of the current product. But we are
told that increase of value will increase
production. OF course, no man can
foreteii what the product of silver viii
be but the besI test of the limitation
10 the future is the limitation of the
Past, and VIC adj know that all the sill
Yer in the World-the result of the
operations Of silver mining for ages
can be put into a cube of sixty-six
feet The world has never produced
enough Of metallic coin The fact that
today over one-fourth Of the money of
the world is uncovered paper money
proves this.
but suppose the fears of our alarm /
Isl friends are realized and that nature 1
instead of exposing her silver treasure |
as she has done in the past, graduaily
n In S-