New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-13

commerce must also be taken into consideration.
Now. how much silver can come here? Not the
coined silver Of the world. because almost all OF 1t
IS more valuable at this time In other lands than
IL will be at minis under free coinage. II our
minis opened to free and unlimited coinage at
the present ratio. merchandise silver cannot come
here because the labor applied to 1T has made It
will be worth at mlnts. We cannot even ex-
pect all Of the annual product of silver. because
yerusing countries must satisfy their annual needs
from tho annual product; the arts Will require a
large amount. and the god-standard countries will
need considerable quantity for subsidiary coin
age. We will be required to coin only that which
is not needed elsewhere: but, If we stand ready to
take and utilize all of IT, other nations Will be com
PEELED TO buy at the price which we fix
Many fear that the opening of our mints will be
production Of silver This is conjecture Silver has
been used as money for thousands OF years. and
during all of that time the world has never sur
fered from an over-production. IT, for any reason.
the supply of gold silver in the future ever ex-
ceeds the requirements Of the arts and the needs
gence of the people will be sufficient devise and
enact any legislation necessary for the protection
the money which they now need for fear they may
hereafter have more than they need | am firmly
convinced that by opening our mints to free and
unlimited coinage at the present ratio We can
price Of silver bullion at 81 % per ounce, measured
by gold.
WHY SILVER HAS FALLEN.
Some OF our opponents attribute the fall In the
value Of silver. when measured by gold to the fact
that during the last quarter of century the
than the worlds supply of gold. This argument is
entirely answered by the fact that. during the
last five years the annual production Of gold has
increased more rapidly than the annual production
of silver. Since the gold price of silver has fallen
any previous I'VE years IN the history OF the world
1t is evident that the fall is not due to increased
by decreasing the demand for an article as by In
creasng the supply Of it, and It seems certain that
legislation and not to natural laws
our opponents cannot Ignore the fact that gold Is
0f all lefvfcl afip fn.r 1f.H
prevent it, and silver being coined to take its
must continue to 20 abroad long the present
financial policy Is adhered to. unless continue
simply postpone the evil. because the amount bor-
rowed. together with interest upon IT, must be repaid
owe large sum TO European creditors. and falling
prices have left larger and larger margin between
Charge SR5 net National income and our annual interest
There is only one way stop the increasing flow Of
prices The restoration of bimeallism will not only
stop falling prices. but will.to some extent-restore
prices by reducing the worlds demand for god II
1t IS argued that rise in prices lessons the value OK
in balance II equities, the American people have
as much righi favor financial system which will
Insist upon financial system that Will reduce prices
But the interests Of society far superior to the
ests Of society demand financial system which Will
world, and thus restore stability 10 prices.
40 FIFTY-CENT DOLLAR
Perhaps the most persistent Misrepresentation that
We have to meet IS the charge that advocating
the payment Of debts In hfty-cent dollars. At the
present time and under present laws silver dollar,
when melted loses nearly half its value but that will
be when again establish mint price for
silver and eave surplus silver upon the market
drag down the price Of bullion. Cnder bmetallism
silver bullion Will be worth much silver coin.
just gold bullion is now worth much gold
CON- and believe that silver dollar VIII be worth
much gold dollar
The charge Of reputation comes with poor grace
from those who seeking 10 add to the weight
OF existing debts by legislation which makes money
dcarer. and who conceal their designs against the
that they are upholding public credit and Ma
tiCnal honor
In answer to the charge that gold will go abroad.
ii must be remembered that no gold can leave this
thing in return for it which he would Rather have.
In other words when gold leaves the country
those who formerly owned II Will ba MELTED.
There is process by which can be compelled
10 part with gold against will. nor Is there
any process by which silver be forced Upon us
agreement, and II silver comes to this country
under free coinage Il will be at the invitation OF
some one In this country who will give something
IN exchange for it.
MEXICO NOT A PARALLEL CASE.
These who deny the ability OF the United States
maintain the parity between gold ard silver at
the legal ratio without foreign aid point to
Mexico and assert that the opening Of minis
Will reduce us TO Il silver basis and raise gold to a
premium II is reflection upon sister Re-
public to remind people that the United States
Is much greater than Mexico In area, in pOpula-
ton and in commercial strength. II Is absurd to
assert that tho United States Is not able do any