The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-29


me- call your attention 20 one fact. The
| free-cOiners assert, when they are told
that the increased output Of gold Ia going
90 tend very much and by natural pro-
cesses to solve this question. that from
one-half 20 one-third OF the gold annually
produced in the world goes into the arts.
| This statement is probably an eNaggera-
ton. IL j. probable that One-quarter OF
the gold of the world produced annually
| goes into the arts, and IL has been DONG
! II for centuries. Consider FOR mo-
meDt. my fellow citizens. what an enor-
nous sum. enormous aggregate-three
billions. perhaps four billions. Of dollars
are lying in the shape Of golden ornn-
ments. thousands of dollars OF them In
this room tonight. Now | want 10 ask
Il you this question. IL there Is gold fam
Inc. II the power of gold u so absolute
and tyrannical as il is claimed, II It's
possession in the shape Of coin gives us
/ owner such sway over the destiny ana
/ fortune of his fellow man. how II u
that this enormous amount of gold. per-
/ haps one-third Of that which Is IN exist
ence has not shown the least symptom
yet of going into the melting pot TO be
| turned into cOinl
But we hear great deal about the Dc.
monetization of silver, and one would
| think To hear our free-coiner friends de-
claim that silver had been entirely de-
monetized. that by some malign infiu-
ence the money fuaction of silver
throughout the world had been entirely
abrogated. sud IL Is a very catching
phrase Ii has been very catching
assumption, for will not call II an argu-
ment.
Now. I say. my fellow citizens, that.
properly considering facts. that state
ment Is inaccurate. not 10 say untrue.
assert that silver has never been demon
etized in the sense in which that charge
ha. IL A elsp 4 no.
tizatiOn means 20 divest OF standard
value as money. and | say this has not
been done with any dollar of silver coin
that was ever minted at any mint. ZAP
plause.D Ii is true that many nations
who have approached the danger line OF
which | spoke few moments ago. when
one metal drives out another. that many
nations have told the owners of silver
which lay concealed in the earth we viii
not longer buy il at certain ratio AMI
AT certain price. Even that has not
been entirely done, and | repeat my
statement that the assertion that silver
has been demonetized is one calculated
TO mislead. and is not true in fact.
''The Crime of 49,
All our woes are dated from 1873, the
period when the free-coiners persuade
their disciples that, to Use their stock ex-
preston, silver was demonetized. or that
one-half of the aggregate wealth Of the
world was struck down at n blow. Now
let us bring this statement 10 the crucial
absolute test of figures, of what records
and statistics say upon this subject. and
not trust to the vague defamation of
any person. The value land | will give
you my authority for this statement in n
mOment), the value of all silver coin in
the world in 1878 was S1,SiI, 100000.
In 1895 il was 81. 1O0,OO0.OOO. The
value of all the gold coin in the world in
1873 was S3,045 600, 600; the value of all
the gold coin in the world in 1895 was
81 ,200. 100000. OF this quantity of sill
yer current in the world in 1895, So, 1885,
100000 was full legal tender. Now at
tend 10 me for n moment while the math-
ematical deduction is made. BY this
statement il appears that the quantity
of gold in the world increased. between
1873 and 1895, only $1,000, 100000,
while the increase of silver coin for the
same period was S2,2S3OOO,OOO-more
coined in the twenty-three years since
1878 than remained up TO that time of
all the coinage Of the world since Noah
left the ark. (Applause) And nearly
double more silver has been coined than
gold since 1873. What becomes, then. of
the assertion of the equal and equable
production of silver and gold from year
TO year since time began, and of the de-
monetiZatiOn of silver since 1873, in the
face of this showing that. between 1873
and 1895 the coinage of silver was near
ly twice greater than that of gold! They
talk of the demonstration of silver since
1873 in the face of silver coinage
throughout the world since that year of
over S2,0OOO00,0O0, of which $685.
444 ,461 was minted by the United
States! (Applause.) And of gold the
United States minted during the same
period 1897 AGO. 33 And here. also. is
answered a statement confidently made
and plausibly maintained, and yet enron
eous in fact, that there has in all this
time been an enormous contraction of
the currency all over the world, yet
these figures cOnclusiyely demonstrate
that that statement is not true. Now,
my friends. l have not taken this from
the statistics of any other speaker or
from any other book. / know where the
statistics are gathered with the care
which commands the respect and conf
dence of the civilized world, and on the
18th OF July tonly a few days ago. |
telegraphed to the director of the mint
regarding Information upon these sub
jects, and he answered me:
Hon. G.. X. Davis, st. Paul. Mimi:
The total value of all silver coined in the
world i'm 1873 | estimate to have been
81 ST. 100000 and 1895 $4.1OO. OOO. 900.
The worlds stock of gold in 1873 is es.
timated TO have been 3,045. 900 600 and
1895 about 81, 200. 100000. X. l.. Pres
ton, director of the mint" And these
figures | have just given you are the fig
gram of the director. The greatest bust
ness transa ctions in the way of finance
on the face of the earth are made upon
statements like that, and when what /
have said is discussed the only answer
that will be made TO il is probably that
Mr.. Preston and the United States gov
eminent is one general universal gold
bug. Uaughter.)
Now let me give you another state
ment. The coinage of the nations of the
world in 1892 1893 and 1894 was as
follows: Gold. 112,473124: silver.
S155. .347; 1893, gold. S232. 42O.5I1:
silver. S131 .952 $50; in 1894, gold. S22I.
921 ,032; silver, S113,O95. 7S3. A total in
three years of 81 ,039, $3.50, 49S. With ali
deductions for recoinagc this output of
coined money is of immense volume.
Now | have thrown out these suppes-
tons and will pass from that branch Of
the discussion and call your attention IN
another assertion of the free coiners. I
alluded to it cursorily few moments
ago, but / propose TO now treat il i'm
the same manner in which | have treat.
ed the last preceding question. The free
coiners assert that contraction has In.
hicted all the financial and economic
miseries that mankind has endured since
1873. Now / say that they themselves
IA hrip nj.