Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-08-20
disciples that. to use their stock expression,

disciples that, to use their stock expression,
"silver was sdemonetized, or that one-half of
the aggregate metal money Of the world was
struck down at blow Let us bring this
statement to the crucial. absolute test of
figures; let US confront it with what records
and statistics say upon this subject, and not
son. The value (and I will give you my au-
thOrity for this statement in mOment) OF
all silver coin in the world in 1873 was ST.
817, 100000. In 1895 it was $4,1O0, 600, OOO.
The value Of all the gold coin in the world
in 1873 was So, O45, 600, COO; the value Of all
the gold coin in the world in 1895 was
81, 2OOOOO,O 600; of this quantity Of silver cur
rent in the world in 1895, So, 439, 800, 600 was
full legal tender. By this statement it ap-
pears that the quantity Of gold
coin in the world increased be-
tween 1873 and 1895 only about
coin for the same period was S2,2S3, 600, COO
more coined in the twenty-three years
since 1873 than remained up to that time Of
all the silver coinage of the world since
Noah left the ark. (Applause.) And nearly
double more silver has been coined than
gold since 1878. What becomes, then, of
the assertion of the equal and equable pro-
duction of silver and gold from year to year
since time began, and of the demonstration
of silver since 1878, in the face Of this show
ing that between 1873 and 1895 the coinage
of silver was nearly twice greater than that
of gold? They talk of the demonstration
Of silver since 1873 in the face of a silver
coinage throughout the world since that
year Of over $1,000, 600, 600, of which $685.
444,467 was minted by the United States!
(Applause.) And of gold the United States
minted during the same period $937, 46O, 6333.
And here, also, is answered statement con-
idently made and plausibly maintained and
yet erroneous in fact, that there has in all
this time been an enormous contraction OF
the currency all over the world. These
figures conclusively demonstrate that the
statement is not true.
I have not taken this from the statistics
of any other speaker or from any book. 1
with the care which commands the repect
and confidence OF the civilized world, and
on July 90, only few days ago, L tele-
graphed to the director of the mint re-
questing Information upon these subjects,
and he answered me:
ssWashington, d. c., July %, 1S96.-Hon.
G. K. Davis, st. Paul, MIMI: The total
value of all silver coins in the world in 1873
L estimate to have been one thousand
eight hundred and seventeen million dol
lars. and in 1895 four thousand one hun
dred million. The worlds stock of gold in
1873 is estimated to have been three thous-
and and forty-five million, and in 1895
''-R. e. Preston, Director of the Mint.
The figures I have just given you are the
figures which 1 have just read. The greatest
business transactions in the way Of finance
on the face of the earth are based upon Of
fetal statements like that, and when what
I have said is discussed, the only answer
that will be made to it is probably that
Mr.. Preston, and the officers generally of
the United States government form one
general-universal gold-bug. Q1aushter.)
Now let me give you another statement.
The coinage of the nations of the world for
1892, 1898 and 1894 was as follows: 1892.
gold, 72.473,1 24; silver, $155, 51,3 47; 1893,
gold, 1882. 42O,517; silver $157, 952, 600; 1904,
gold, 1927, 921 ,O32; silver $113, 095, 1888; to-
tai in three years of 1,039, $50, 49S. With
all deductions for recoinage this output Of
coined money is of immense volume
1 have thrown out these suggestions and
will pass from that branch Of the discussion
and call your attention to another asser-
ton of the free-coiners; I alluded to it
curSOr1ly a few moments ago, but pro-
pose now to treat it In the same manner
in which have treated the last preceding
question. The free-coiners assert that con-
traction has inflicted all the financial and
economic miseries that mankind has en-
dured since 1873. have shown that there
has been no contraction. I say, further.
that they themselves coolly propose to
bring about contraction of currency in the
United States unexampled in the worlds
history, and fraught with more evils than
are recorded in the annals Of financial woe.
In that case. if that is the logical result
and inevitable consequence of what they
propose, I want to know wherein the gold
bug is worse than the silver eel?
You ask me for my proof, and will give
it. The unlimited and free coinage of sill
yer in this country will drive out the gold.
This is as indisputable as any law of physics
Yatp {ho I1rvv IL
driven out gold IN every country which has
unlimitedly coined silver In fact, there is
not an enlightened gentleman who will
talk to you in advocacy OF the free coinage
Of silver who does not admit that this will
be the inevitable result, but they say it will
only last two or three years, and that the
patient will probably survive to take the
new medicine in abundance But say that
they admit themselyes-any intelligent
speaker upon that subject admits that the
inevitable and irresistible tendency and re-
suit Of the free coinage of silver in this
country will be to drive out tn. gold.
Now let US see how they propose to obvi-
ate 1t. 1t has always struck me that one
Of their ablest champions is Mr.. st. John
of New York He has been largely and
cOpiOusly quoted by them-he was president
of national bank and was president Of
the recent silver convention at st. Louis.
BY the bill which he procured to be intro
duced in congress and drafted ard which
had the endorsement of the silver sentiment
there, they proposed to bridge over this
yawning chasm which they themselves adj
mitted would open beneath our feet, by
issuing Understanding treasury notes of
the United States, secured by deposits Of
uncoined silver o. gold bullion, or by de-
post of United States bonds to be issued
of course for that purpose. Let us look at
this coolly and calmly and calculate upon
it little, like men Of sense who are infin-
itely interested in this matter as one of bus
mess concern and let us see how this pro-
.ject would work; whether it would not
merely
s.ss. n and film the ulcerous sore
Whilst rank corruption mining, all within
meets unseen"