The Progress. (Shreveport, La.) 1892-1900, 1896-08-27

,oouc increase in the annual pFoo'lc'
linn Of silver. This is conjecture. sly
YER mas been used as money 1oE 'Ho'-
sands of years. and during al! OF t!'a'
time the world has never suffered ITO"
an oyerDroduction. an 1lrM'! ''"-
WINGED that by opening car MINIS 10
free and unlimited coinage at the pres
ont ratio We can create Il demand lof
silver which will keep the price O. ST.
yor bullion al sl.@9 an ounce. measured
by gold.
Some of our opponent. atF;h0te int
fall in the value Of silver, when meas
ured by gold to the fact that during
the last quarter Of a ccn'sSF he
worlds supply Of silver has increased
more rapidly than the worlds supply
Of gold. This argument is entirely an
swered by the TACT that, during IN"
last five years the annual projection OF
gold has increased mcre rapidly than
the annual production OF silver. Sin""
the gold price Of silver has fallen more
during the last FIVE years than it ever
fell in any previous FIVE years N ne
history OF the world it is evident nat
the fall is not due to increased proU''c-
ton. Prices can be lowered as effect
ually by decreasing the demand for an
article az by increasing the supply OF
it. and it seems certain that the t;Il
in the gold price Of silver is due 10
hostile legislation, and not to natural
| laws.
Our opponents cannot ignore me
fact that gold is now going abroad IN
spite of all legislation intended TO pre-
vent 1t. and no silver is being coined
! TO take its place. Not only IS gold 60
| ing abroad now. but 1t must continue
| to 90 abroad as long as the present
| financial policy is adhered TO unless we
continue to borrow from across the
ocean, and even then we simply post
pone the evil, because the amount boz
rcwed, together with interest upon II,
must be repaid in approaching dollars.
There is only one way to stop the in
creasng flow of gold from our shores,
and that is to stop falling prices, The
restoration OF bimetallism will rot
only stop falling prices. but Will-'to
some extent-restore prices by re-
ducing the worlds demand for gold.
Answers the "5O-Csn Dollar" Talk.
perhaps the most persistent ml@-
| representation that we have to meet IS
the charge that we are advocating the
payment OF debts in 50-cent dollars.
The charge OF reputation comes with
Door grace from those who are seeking
to add to the weight Of existing debts
by legislation which makes money
Gearer, and who conceal their designs
against the general welfare under the
euphonious pretense that they ale up
holding public credit and national
honor.
1T must be remembered that 70 gold
can leave this country until the owner
Of the gold receives something in re-
turn for it which he would rather have
There is no process by which we ca
be compelled to part with our gold
against our will nor is there sny proc.
ess by which silver can be forced upon
US without our consent.
"Those who deny the ability Of tho
} United States to maintain the parity
between gold and silver at the present
legal ratio without foreign sid point t
Mexico and assert that the opening O.
our minis will reduce us to silver
basis and raise gold to premium. l
is absurd to declare that the United
States is not able to do anything which
Mexico has failed to accomplish. Thu
one thing necessary in order to main
} tain the parity is to furnish demand
, great enough to utilize all the siIve
: which will come to tho mints.
: As to Cost Of Production.
"In reply to the argument that i'm
proved machinery has lnssened the cos
of producing silver, it is sufficient t.
say that the same is true Of the pro
duction q gold, and yet, notwithstand
ing that, gold has risen in value. A
a matter OF fact, the cost OF production
, does not determine the value Of tn
precious metals, except as it may afec
the supply. If. for instance, the cos
Of producing gold should be reduce
80 per cent, without any increase i
! the output, the purchasing power Of a
ounce Of gold would not fail So lon
; as there is a monetary demand stuff
cient to take at fixed mint price a
the gold and silver produced, the cos
of production need not be considered
The Mine Owners Not Specially benefited
"Ls &. N asserted by our opponent
that the Gee coinage of silver is ir
tended only for the benefit Of the mine
/ owners. Ii must be remembered tia
. free co!page cannot restore to the mine
:, owner any more than the demonetizs
Il ton took away: and it must also /
1, remembered that the loss which tn
- decentralization of silver has brougf
II to the mine-owners is insignificar
c0mpared to the loss which this polio
, has brought to the rest of the peopl
~ The restoration of silver will bring