New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-28
SILVER PRODUCTION

r,on, this table It appears that colncident with
fan Of re- in hG prdde in OF the ned States has
Increased 81 per cent and ma, ~, ne auan b3s
is abnormal An increased silver product AT a ran,
ing price indicates beyond all question me reducsd
cost of producing silver and Its consequent reduced
ia ne az purchasing power. The experiences OF
mankind have proved thousand times over t.iat me
purchasing power Of money OF any sort IS gagged ~
It's Intrinsic commercial! value and that loses IN
purchasing power Just IN PROPORTION 70 me Decrease
crease in the product OF silver At half It's value IN
1885 what would the natural effect OF placing II
S old P 1ac Of q N yes * ceay Would
the United States at once into silver monometa.
country and reduce the purchasing power OF the
But the stimulus thus given to silver production
would DO very much more than that. In the G9urse
Of len years Increased silver production would UNI
doubtedy reduce the standard dollar to at least one
third its preson value The inevitable result or THIS
would be a fictitious imitation of commercial values
- unspeakable misery The proposition 70 aiow .he
producers OF silver to take their product 70 me
present sound money value Is simply proposition
to grant to silver producers bounty equal TO 100
semi-barbaric paternaism What absurdty TO
attempt to associate such an outrageous policy OF
Of he protection OF American labor against foreign
competition policy which has not the trace OF
lie last thlrty-fvc years have proved TO be in the
highest degree promotive OF profess ana .ne gu
llpon such nonsense "a free silver and protection
As well talk about serving God and Baal In the
4 favoritc objection which the silvertes urge TO
sound money on the present gold STANDARD IS tnat
gold will constantly appreciate in value causing
strinRency money and fall In the wages OF laoor
and in all values That is lost fear The policy OF
protection. sound money and adequate revenue
which has been steadfastly pursued by the Repub-
lean part FOR yearS as & annre
hcnsion nsuficiency OF gold as money
basis has no lon IN pas. 81 roS
would cause the production Of gold greatly TO In
crease. and therefore reduce it's intrinsic value or
Ing
be maintained. This is evident from the following
facts: ,,,.
Yea-. Of me world
1894 90
During the four years Of General Grants Trri hre
sn to his cy wa $50 b"s During
four years-iss2 to 1925 inc .usive-it amounted to
81 our sold c SRSash has doubted since the
year 1913. while the worlds product shows an In:
% PER s has has s'ep M
increased supply The sure s D Of an and aas
is vastly more than sufficient to prevent any
cal and chemical inventions and improvements in
god mining render i that the gold supay
mand for gold bu! render il highly probably that
ten years hence the intrinsic value or purchasing
The cause Of the revulson and distress through
out the country during the last four years Is mani
coordinate features OF Republican policy-the pro-
lection Of American labor and adequate revenue
have been RENTED The result has been that more
than million men who previously had earned
American rates OF wages in protected empoyments
have been thrown out Of employment. while the
earnings of those employed have been greatly re-
duced Closed factories, PROSTATE commerce and
decreased National revenues have also been results
of the abandonment OF protection and adequate
revenue. The total interest bearing debt OF the
United States Increased from $685. $3.50 the first
day OF July 1892 ss226l5l7o at the present time
increase OF S237 5S5 $40 IL per cent The ques
ton return to bimctallc currency can safely
be RENTED to the lessons of further experience
and to an international discussion which shall
evoke future monetary policy based upon the
best and surest foundations. There is no good
reason why that question should be forced to the
front at this time and abundant reasons why II
should be deferred
The sound money policy OF the present day Is
simply grand resultant OF the lessons OF expert
and OF discussion. and not of the outworking
of any natural law. Emulating. therefore. the pa
trioc courage of the Republican party In 1868 as
expressed In its platform of that year and In Cen
eral Grants inaugural message OF March T. 1869. let
the Republican party now stand firmly to It's time
honored and clearly vndicated policy OF sound
money. protection and adequate revenue