Semi=weekly graphic., 1896-10-17
PRODUCTION OF
 HONEY METALS. Its Increase q Boon to
 Mankind. Why There Is No Fear of
 Inflation. Interruptions Attempt to Destroy Silver. Real Enemies of the Public
 Welfare.

I They say nothing of the increased pro- duction of gold, but the fact is that the gold production during the last ten years exceeds that of silver. But neither fact is of any consequence in the discus sion The supply of the precious metals differs from the supply of farm prod ucts and manufactured goods. Wheat and corn arc consumed, cotton and wo0len goods are made into clothing and worn out. Every commodity is per ishable but the precious metals. These have been accommodating during all the ages of the worlds history, and they are not consumed or destroyed. The in- crease or decrease of the production of either has therefore no such effect upon the supply as does q short crop or an oyerproduetion of the things which we consume from year to year The world 8 total supply of the two metals is not in- oreasing as rapidly as the demand for 1t, based upon the increase of popula- ton and business of the civilized ma tions
 The money power is always strug- gling to make money dear by decreas- ing the quantity. In the ffties it want ed to demonetize gold because of the increased production in California and Australia. But England, not given to change, adhered to the gold standard, believing that gold production would not be permanently increased. For near ly 80 years this same power has strug- gled to abolish the use of silver as mon ey and uses the same arguments that were formerly used for the demonetiza- tion of gold.
 All the great authorities on the sci ence of money have maintained that the two metals together give a more stable measure of value than either one of them alone. When one falls short, the other usually increases. The world experience is that when any single great nation keeps its hints open to the free and unlimited coinage of both metals on equal terms at 8 given ratio neither the action of other nations nor the vari- ations between the relative productions of the two metals will seriously affect that ratio. France maintained the pari- ty between silver and gold at ratio of 1519 to for 70 years-from 1903 until 1873. This was not affected by the adoption of the silver standard in all the German states and ill Austria in 1857 nor by the adhesion by Great Britain to the gold standard, adopted by her in 181G. The silver coinage in the United States during all that period was very limited, because of the ineon- siderable production of silver and therefore had but little effect upon the question
 Gold and silver have always been preferred ever all other materials for money. because the amount of them is limited to nature's yield. Neither of these metals can be manufactured. They are produced in varying quantities, and the variance is unimportant relatively to the accumulations of the ages. There is no more danger of imitation from the oyerproduction of gold and silver than there is of the overflow of Lake Superi- or from heavy falls of rain
 It requires a vast amount of both metals to supply the demand for the arts and manufactures. It was the ex- pressed opinion a few years ago of Mr. Giffen, the statistician of the British board of trade-himself an unoompro- missing gold monometallist-that the supply of gold was being entirely con- sumed in the arts and that none of it as being added to the worlds supply of coin.
 The struggle of the gold monometal- lists to destroy silver has produced un- paralleled distress throughout the world, although their battle is but partially won. To what lower deep mankind would be doomed by their final success will never be known if our nation, the strongest, richest and most populous in the world, shall turn the tide of battle ill the present presidential campaign.
 The increased production of either of the precious metals has always proved boon to mankind and has been follow ed by an uplifting of civilization But money lenders have always seen in it an injury to themselves in proportion to the benefit 1t eonfers upon mankind. A man who will willfully menace the pub lie peace for private purposes deserves the epithet of anarchist We know of no element in this country so deserv- ing to be chased as anarchists as those who seek to put burdens upon the peo- ,ple which they cannot and will not bear, and thus undertake to enslave the people, who have too much of the spirit of independence to allow themselves to be enslaved. Cincinnati Enquirer.
 An income tax may have been un- constitutional. but if was riobt And