Evening star., 1896-10-20

From the above tabulated statements 1t
must be seen that instead of the immeasur-
able increase Of wealth of the eastern
states, as compared with other sections of
the country during the past decade, as
stated by Mr.. Hutchins, the immeas-
urable increase is in favor of the western
and southern states and not Of the so-called
opulent and monopoliStic east; and that the
eastern section Is steadily losing in It's pro-
portionate share of the aggregate wealth of
the country, the middle west having passed
it in the past ten years.
The methods OF reasoning adopted by Mr..
Hutchins by which he reaches his conclu-
SONS are unknown to the ordinary mathe-
matician. although they seem to be in har-
mony with that process Of evolution in the
matter Of statistics known only to the advo-
Gates Of the free coinage of silver.
In answer to his statement that the
wealth Of those engaged in agriculture as
compared to those engaged in other pursuits
is steadily diminishing, we might. in follow
ing the same line of argument, go back to
the first decade after the landing of the
pilgrims and show that at that time nearly
all the wealth Of the country consisted of
land only. and was in the possession of
those engaged IN agriculture. The statis-
tics Of all healthy and prosperous countries
show that the increase of wealth Is largely
invested in Industries other than that Of the
cultivation OF the soil. 3. J.
Silver Free Coinage and Gold C1rcu-
To the Editor Of The Evening Star:
In the newspaper reports Of Mr.. Hutch
irs' argument he fs represented as saying
that IF we had s25G.O0O. 600 Of silver in cir
culation, 1t would drive out OF its hiding
place gold.'
If he was correctly reported, and have
no reason to doubt that he was, Mr..
Hutchins must think that the American
people are very ignorant and have very
statement: with the expectation Of being
believed. There is not an intelligent per-
sen anywhere who does not know that de-
preciated money, whether Of coin or paper,
invariably drives out Of circulation the
better money; that whenever a cheaper or
less valuable money is introduced, gold
goes to a premium. Is boarded and goes out
of circulation.
If his statement is true. gold ought to
have much more than $3.50, OOo, GOO Of silver
In use.
According to the statement of treasury
circular 123, the amount Of silver certif1-
Gates outside of the treasury July 1, 1906.
was 1891 ,259, 500, besides 81, 2,175.9OS OF
standard silver dollars. 4 total of $sS3, ,435. :
5O7, or more than 50 per cent more than
he says Is necessary to bring gold out OF
hiding.
Instead of bringing out gold. the amount
Of ffty-three-cent silver dollars and the
threat of more has sent gold into hiding,
and all over the country people are begin
ming to convert their money into gold and
to hoard 1t.
It has always been the same, and always
will be, the world over. Why did gold 20
to q premium and into hiding during the
war? Simply because Of the cheaper or
inferior paper money that was introduced,
and at that time we had free and unlimited
coinage of silver, too.
People feared that the paper money would
ho rpdQnuaef1 ~ ot
and hence every dollar Of gold was COB
bled up and boarded.
knew q man In this city who had
81. 200 at the breaking out Of the war.
and the moment the government began the
issue Of paper money he converted his
200 into gold. hid It m q box under his
bed and kept It there idle during the en-
tire war. Why? Simply because. as he
said. he had no confidence In the paper
money. and believed that. Hike the cont.
mental money. it would never be redeemed.