The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1896-09-10

RcdQlllY'
SILVER ASSERTION:
You contracted the currency
by disseminating the coinage Of
silver dollars on private account
in 1873"
THE FACT IN THE CASE.
The total currency OF the United
States In 1865 was STA, TOE, 995.
In 1878 two years after the dis
continuance Of the coinage Of sill
yer, it had increa sed to $754, 1O1,-
947 and it has continued to in
crease until the total money in
circulation in this country in 1895
was $1,6O1 ,96S,473.
SILVER ASSERTION:
You have demonitized silver
and destroyed the dollar of our
fathers"
THE FACT IN THE CASE:
All the silver dollars coined in
this country from the revolution
till 1873 numbered S,O45, S3S. Much
OF this time even these did not
circulate, being worth as bullion
more than a gold dollar and conse-
Quently being melted OF boarded.
Since 1873 we have put in cir
culatiOn over $500, 100000 in sill
yer, or more than fifty times as
much as the total coinage pre-
vtOus to 1873, and on the first Of
last month the number of sil> er
dollars was 43O, 79O,O41.
SILVER ASSERTION:
Free coinage of silver will ex-
pand our currency"
THE FACT IN THE CASE:
A law decreeing the free coin
age of silver would Instantly con-
tract the currency by the total
amount Of our gold coin (S567, OOO,-
OOO going out of circulation, for
every one into whose possession
gold came would hoard whatever
he could save of it. knowing that
its value would always remain
Interchangeable. To supply this To-
Simultaneous loss in currency With
silver dollars worth In gold 81
cents would require the operation
of ali the minis in the country
night and day for ten years dur
ing which time a good deal might
happen to us
SILVER ASSERTION:
"The United States has stricken
out and disgraced silver"
THE FACT In THE CASE.
The United States are to-day the
largest users of silver as money
Of all the nations on earth, ex-
cepting India and China. midas
stock Of silver money is equiva-
lent to 1925, 100000. China has
SIPS, 100000 and the United
States stock of silver money is
1924, 100000. The next largest
stock Of silver money Is that of
France, $JOOOOO,OOO Germany
has $215,OOO,OOO and the United
Kingdom only S112,OOO,OOO. Mexi-
co, a free silver country Of which
we hear a good deal now, has
only $5O,OOO,OOO Of silver money.
SILVER ASSERTION,
'This country is suffering from
scarcity Of currency"
THE FACT IN THE CASE:
The banks of New York city
alone are now holding over
$2O,OOO,OOO Of idle currency, for
which it's owners can find no safe
or profitable investments. The
banks of nearly all our large cities
are in the same fix. To coin or
print more money now would be
merely to add to this stock of idle
and consequently useless cur
rency.
SILVER ASSERTION:
"The farmer and labOring man
are poor and we want to intro
duce free coinage Of silver so that
they may have more dollars"
THE FACT IN THE CASE:
The farmer or laboring man can
to-day get as many dollars as he
can o. earn, or (2) give goods for.
or (9 give security for borrow
ing. There are probably 2OO,OOO,-
600 unused dollars now in the
country. If there were ten times
as many there would be no other
way in which the farmer or labor
ing man could get hold Of any
part of them than those above
mentioned.
SILVER ASSERTION:
Free coinage of silver will
enrich the farmer because it will
1t l.; I'll, a..