The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-03-11
THE MONEY OF THE COUNTRY
Mas the Subject Of Theodore c
Knaufi's Lecture.
MEN COMPOSING SILVER PARTY
Speaker Said They All Belonged to 1t
from More or Less Interested Mo.
tivcs-Thoso Who Desire Sound
Money for tho Country.

1.-THE Silver Question" from gold
mans standpoint was the topic of the
lecture of Theodore c. Knauff last night
in the Young Mems Christian Associa-
ton hall. The lecture was illustrated
by q number of fine stereopticon views
intended to show many of the classes of
people who would be affected by
change from 4 gold to a silver none
tary basis.
The audience was not large but what
II lacked in numbers was perhaps coun-
terbalanced by quality, there being a
generous sprinkling of bank officials
and other prominent persons present.
Mr.. knauff lectures under the employ
of the Sound Money league of Philadel-
phia, gold advocating organization
for which he has written a number or
pamphlets for general circulation.
The substance of Mr.. Knauff's argu-
ment was that the silver party Is COM
posed of those who, from what appear
to be more or less Interested motives,
desire u change from the existing order
of things. Among these are the owners
of silver mines or those Interested In
the production of silver. one, but one
only of our great national Industries.
They desire that the products of their
industry shall be purchased by the ma
tional government I'm whatever amounts
they may see fit to offer. and at fixed
price to be set by themselves, without
regard to the quantity produced. the
cost of production, or the market value
of the goods. which Is created by the
natural laws of supply and demand.
SOUND MONEY PARTY.
On the contrary, the sound money
party includes not only those favorable
to the single standard of gold, but men
who prefer, even desire, the actual use
of the two metals. and are true bimetal-
lists, but I'm u way to injure no one.
This party he also urged includes In ad-
ditiOn men who would prefer a single
standard of silver, but who hesitate to
make a change, as the transition Itself
would mean ruin. The way in which
this injury would be brought about he
explained as follows:
I'VE now have a large quantity of
silver money In circulation, the intrin-
sic value of which Is but about one
half of it's face value. due to the de-
probation in the market value of the
metal. This makes it but token money.
The United States agrees to pay the
difference out of its own funds. As
long as the government can do this and
will, all will be WE'LL but II perchance
q majority Of our lawmakers should
desire to experiment still further, or q
minority, making the attempt and be-
ing prevented, should in revenge again
deliberately try to cripple its resources.
the government might not be able to
pay this difference in gold value. The
moment it pays out a silver dollar as
silver the crash comes and we are on q
silver basis. 1t Is too late then to make
preparation for the change. Anyone
with money on hand or invested, re-
ceived at gold value, has lost half. At
once the gold in the treasury and In the
country disappears under the operation
of a sure law which has never varied.
The currency is contracted and string
ency results.
MONEY DEPRECIATES.
"Under the distrust Of such an ar
ragement, our government and other
securities held abroad will be offered
for sale at what they will bring. To
the extent that the price of such securi-
ties Is deprecated by such forced sales
are the holders of them in this country
the losers. Not only so but the govern
ment money depreciates and to the ex-
tent of the distrust. Values Of every
thing are disturbed and business Is at
q temporary standstill."
The Young Mems Christian associa-
ton will endeavor to secure the pres
ence here in the near future Of an ad-
vocate of silver. The silver lecture
will be presented in the same concise
and plain way as was last nights lec-
ture.