The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1896-09-30
Facts for Bryan's Faneies.

Facts for Bryan's Fancies.
Hon. John L. Thomas, of Missouri,
at present Assistant Attorney General
for the POst-Offiee Department, and
formerly Judge Of the Supreme Court
of Missouri, has prepared the following
statement
"Mr. Bryan states that he believes
the free coinage of silver, by our Gov
ernment alone, at the ratio Of 10 to ],
would raise the price of silver to Sl.29
per ounce; and he never tires of alleg-
ing that our Government is strong,
and rich, and powerful enough to ac-
complish this result, without waiting
or asking for the cooperation of any
other country. In making this pre-
diction Mr.. Bryan ignores the exper-
ience of this and other nations Of the
world in regard to the coinage of silver
during the past 100 years, but waving
that, let US see what his proposition in
involves.
81 presume it will be conceded by
Mr. Bryan and his adheFenis that the
price OF silver bullion in this country
can not be affected without at the same
time affecting it everywhere, aud that
the rise in the price viii apply to all
silver, whether in bars or wares, as
well as in coin, throughout the world.
'rhe figures shall give, except
those showing the production of silver
In 1882, are taken from a report submit
ted by Mr.. Voorhees,, free silver advo-
cate, on behalf of the Finance COM
mittee of the Senate, March ), 1874,
which report is entitled Coinage laws
of the United States from l722 to 1894.
with an appendix relating TO coins and
currency; fourth edition, revised and
corrected to August l, 1894. Prepared
under the direction of the committee
According to that report, page 30,
the production of silver in the world
from 1893 TO 1892 amounted to = E5z-A-
507, 7i6 ounces, and there hSs oeen pro-
duced since IS9a about 6O0,OO0OoO
ounces, IN soHnd numbers. Add this
to the other sum and We have total
OF 5, l., ,507, 7id ounces. l have no data
showing the production of silver prior
20 liss, and hence | can not give the
figures; but | think it may be safely
assumed that il amounted to as much
as the whole amount of silver that has
been lost or destroyed.
CONSERVATIVE ESTIMATE.
''In order to be sure that We are on
the right side, however, let us deduct
L., ,503, 1i8 ounces, and state the pres
ent supply Of silver in its various forms
In the world at s,0)0,OOO,OOO ounces.
This is worth Gee per ounce, or s, 80
600, 900 in the aggregate. To this, ae-
eOrding TO Mr.. Bryan's opinion, the
legislative fiat of our Government
alone would add 6sc per ounce, OF 81
O40, ,0OO,OOO, and, strange to say, the lar
ger part Of tbs added wealth would be
outside " ear own country. In gold
st-ndsFd oOuntries the commercial val
ue OF the silver coins in circulation
would be brought nearly to the gold
standard. This fiat of ours would sub
stantially double the value of SIIa0eA-
600 in silver coins in Gyea. Britain,
S5OO,OOO,OO0 in FrsroS sal5,OO0,O00 in
Germany. SsA0o0 oO0 in Belgium, sl6,-
SsAg0 In Italy, Sl5,0OO,OO0 in Switzer-
land, Sa,000, eco in Greece, sl55, ,OOO, 900
in Spain, slO,0O0, eco in Portugal, Ss5.-
00O,010 in Austria Hungary, $50, 600, 900
in the Netherlands, =, 10000 in Swe-
den, -, 100, 600 In Denmark, 81, 900, 600
in Turkey, s7,OOO,O00 in Australia, SIS
00O,O00 in Egypt, and S1l0,OO0O0 in
the Straits, besides S625, 5,0O0oa in this
country, and raise al this money
nearly To par w.lh gold; and yet We
are told tAss all these countries not on
u refuse to Join Mr.. Bryan and his sup
posterS, but even do not sympathize
with them in this stupendous enter
prise, which would add so much to
their wealth, and in a large degree re-
lieve them from the burden now rest
ing upon them of keeping their gold
and silver coins at pr with each other
In their circulation.
"But how would it work in the siI.
yer standard countries? This Goyarnl
ment fiat of ours would at one fel
swoOp substantially double the value
of Sil ,000,000 in silver coins in Russia.
$50, 100000 in Mexico, 5000, 900 i'm the
Central american States, $50, ,OoO, ,Oon In
TIE South American States, $4,000
epO in India, and S72l, ,tla, coo in China,
and would at the same time double all
the private and public debts Of those
countries. which have been contracted
on silver bisls.
"But Mr.. Bryan's proposition is
more far-reaching than that. He as
serts that he believes that this legisla-
tive fiat ON our part would not only
bring the silver nov in existence to
| par with gold at the ratio of III 70 |,
but would keep it and the sa.are pro-
duetiOu there, although doubling the
price would hereafter probably double
the prodaetiah.
SOME QUESTIONS.
I'm view OF these facts, is there any
improperly in inquiring how it is that
we, 100000 strong can affect the
money of $50, 900, 900 people by sim
pie statute, while the 1,S50,OO0, 600 can
not, by legislation, affect Us? And are
the people of Great Britain and Conti-
mental Europe and many millions of
Americans to be dubbed money grab