The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-09-13


Jared better than in ehis land where
gold measures all.
But gold has not appreciated. The
demand has been fully met, ana more
than met. by the supply. In 1874 tne
gold supply Of the world was 81, 79O,OOO,
coo. In The period Of the
GREATEST GOLD PRODUCTION
in the world in the past, from 1851 70
1860, there were produced $3.50, 5g6, oOo-
/ In the four years from and including
1891 to 1894 S614, 737, 700 were produced
more than twice as much in the tour
years as in the ten years from ana m
/ GLIDING 1851 to 1860. Gold deprecated
then and there is no good reason 10
show that it has not depreclaIeu ol
! late years.
Besides. the increase Of silver since
1873 has been abnormal. In the hrst
sixty years of this country, the annual
production never exceeded Z9,OOOo OO
/ ounces. After this period, the output
was increased by bounds, reaching IN
/ 1874. 81, 100000 ounces. Between lSSi
! and 1885 the production was 94,OO5' Sl4
/ ounces, and in 1886 reached 9S,29I wv
ounces, which was an increase OF 4Vo
per cent over the average of each OF
the four years preceding. In 1889 the
production rose to los, S27604 ounces. In
1894 it reached 1866. 601.995 ounces.
Can any one doubt that this enormous
increase of production with poSslDlnlleS
of unlimited supply, together with
lessened and lessening demand oroVe
silver down below the level of all other
commodities? Here is a scope for the
application of the law of supply ana
demand. which Mr.. Bryan is so fond or
quoting. He says legislation placed an
artificial demand on gold and destroy
ed the natural demand for silver he
is mistaken. Commerce has outgroWn
silver as a measure of value; even as
a medium of exchange, 1t has been sup
planted by many substitutes, by credlr
instruments affecting prices and trans
ferring values to the same extent as
any coin. The demand, the desire to
possess, coupled with ability to acquire,
has gone from silver.
THE WORLDS NEED is GOLD.
Commerce demands it as possessing
most value in less bulk and as less var
liable and fluctuating, and before the
laws of commerce the eloquent ap-
peals of the Nebraskan are impotent
and powerless.
Sir, at the risk of trespassing upon
your patience and that of this audience,
/ venture to assert certain fundamental
truths accepted by all thinkers and
most illustrious political economists OF
this and former times. Standard money
being a device to effect exchanges and
measure values, must be worth as much
as the commodity it exchanges for. 1t
must have, as near as it may be reach
ed, unvarying value, and must have
universal purchasing power. The value
of the money metal is in the bullion and
not in the mintage. This value springs
from demand and supply, and the es-
innate placed upon it by the vast throng
of exchangers and traffickers who
swarm in the market places of the
world. Yea, sir. they are found wher-
ever men dwell and offer what they
have for what their brethren have.
When two meet to
EXCHANGE THEIR COMMODITIES,
their respective minds are Immediately
engaged in estimating the qualities of
the thing they desire to have and OF
the thing they wish to part With.'Tney
compare, they examine, they decide.
This is mental process. 1t is wholly
subjective, Independent and voluntary.
1t is beyond the power of arbitrary
statute, beyond the power of king or
of Congress. That power cannot de-
stroy this operation of the human mind
in attempting to impair the value of
one commodity or to enhance that of
the other. Hence. the assertion that the
act of 1873 destroyed the value of sill
YER is an economic solecism. Commerce,
founded on volition and estimation, is
sues its fat and before it the language
of statutes fall paralyzed and crushed.
No nation has ever been led by gov
eminent in defiance of commerce to
adopt a measure of value and a medium
Of exchange. Different commodities
suit the difference of
CIVILIZATION AND TRADE
and while silver may answer the needs
OF an eftete and naScent civilization it
would not answer the needs of the
most progressive and most energetic
race on the globe-the American of to-
day. The people of the United States
have voluntarily and inteiligently adopt
ed the gold standard, and they viii not
submit to the dictation of the Chicago |
platform.
Which of you. though. can add one
cubic foot TO his stature?' was asked
Dy me savior two thousand years ago. !
W men OF the nations of the earth can.
by legislative thought, add one centime
10 the value of any commodity more |
than the brains and estimates of man |
kind give to it? The awful calamities /
10 befau the citizens of this country /
when the thirteen billions of trust |
lunds nd savings are cut in two. when
Inc natlons trade is demoralized and
disordered and the INV
NATIONS BANNER is sJJILTED
no man can predict That thew will he
lar-reaching and destructive we know.
but the extent of the disaster is he,
yond conjecture.
ST. INTO your hands I formally Mace
the standard of our party 1t waved
over JeHefson and Jackson and Cqeve- /
Gnu; ana II now waves over a distin-
sulshed patriot, who, in peace and in
war. has signalized his devotion 70
his country. ~
never before was the parricfdal hand
~ ~ lne democratic party raised against
tAe dulhol OIL its eXistence-the coneti-
.uliohs Never before was its suicidal
nand raised against its own exisfence
w men we plead for the constitution We
ere cdleo traitors. When we Strike
- tMh the lelonlous hand raised to de.
TIoy our party, we are called boilers
w W., IN q urn resolve 10 do our duty bv
our country and by our party. with y
romance on the sober second tbougbt on
the part of our infatuated hrefhren
dilu on the Vlndication that honest mr.
pose ana sound judgment ALWAYS Sc
'ure from awakened reason, we renud
ate the Chicago platform as un-Aneri-
can and undemocratic and hojsf tbe
Tag OF true Democracy that viii NOT
be lowered so long as there are natrio+ie
hearts 10 revere it and patriotic hands
10 maintain it. 10
We all know that your exalted MT
riotism places
COUNTRY BEFORE PARTY.
and that the assaults on the cons+;+,,-
ion Of our country by the CHICAGO
platform will be resisted with +ba 80, !