Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1899-01-13

but tEen L cannot conceive why you
suppose that any such superficial yea
siveness could be imposed upon your
fellow-citizens.
Mr.. Newlands, when o talk about
uncovered representative money you
can mean nothing else than paper cur
renCy, like our greenbacks, redeemable
in coin, and for which no special re-
demption fund is provided. AS you are
careful not to suggest any increase of
money volume but only to create, with |
out sue increase, an enlarged demand
for 81 yer bullion, why should not your
proposed Pan-American agreement be
for the purchase of a silver redemption
fund equivalent to the uncovered paper
redeemable in silver? This would create
an equal market for silver and have the
advantage Of allowing a choice between
the secured paper representative and
the more cumbersome silver coins with
out IN any way endangering a gold
standard by an increase of the volume
of standard money. Even as a scheme
"to do something for silver in goldbug
p~arlance, it is worthless.
But, Mr.. Newlands, you are not salts
fed with the provision to regulate coin
age for the purpose of keeping silver
bullion upon an equality with gold, but
to make assurance doubly sure propose
also a limitation upon the production of
II-o ,.oFa, 20 r;-a - -, uAy,r wv,
language, quoting from the Post:
Now, as to the question of limiting
production, we all know that of old
leach government had a monopoly of
the gold and silver found within its
realms. The scarcity of production
led to the various governments offer
ing substantially Il premium for its
production by making free grants of
mines when discovered, and so the
custom mas existed in the United
States and Mexico of granting freely
to the prospectors the mines which
they discovered. The result has been,
therefore, to subject these mines to
the exploitation of tremendous en-
ergy and enterprise. and has produced
a flood of silver here formerly there
was a drouth. If. therefore, the reason
for making free grants of mines no
longer exists why should these free
grants be continued? Undoubtedly
the mines of the present, which have
t been already granted by h govern
S ments, are private property and must
be free from government apprOpria-
ton, but they will soon be exhausted,
and even as to their product the gov
: eminent has a perfect right to insist
: upon seiSniOraSe in return for the
privilege of mintage, for it is the
y stamp of the government which
creates the demand hat gives their
product value, and it is a mere ques-
, ton OF policy on the part of the gov.
ernment as to whether or not it will
exact a seigniOraGe. Should it be
q deemed wise to limit the production
@ of the existing mines it can be accom-.
pliShed by eXacting a S~eigniOrage
greater or less, according to existing
requirements. But these mines will
l all be exhausted probably within the
L next five years. The government own
u tiHt II IN VI stit
e future. If production is unduIy
stimulated why should not the United
n States and Mexico and Bolivia, pro
ducinS as they DO much oyer two
thirds of the silver of the world
determine to withdraw temperate.
from granting mines that may be dis
covered? Leaving the matter to b,
subsequently adjusted, they can either
hereafter renew free grants OF the.
re can place imitation upon them. o.
E. limitations upon production, or the.
a. can exact a royalty which in itsel
j. will limit production, and thus a pro
4 duction commensurate with the us
will be established and a use com
mensurate with the production ca
be secured.
u 81 contend that there is no use O
r councils. As the producers of all tn
E. silver of the world, we can easily fl
lie the price. If price is dependent upoI
us, we can increase the use in
ar iation. If price is dependent upo
:, production we can limit the produt
ton without violating any privat
right"
It.
u OF this 1 can only say that the ma
ut who could deliberately write it and ye
st pretend to be a friend of silver places
al very low estimate upon the intelligenc
ed of those by whom he thinks it will b
u read. Mr.. Newlands, you seem not onl
of auyious TO iudOrSe the vi WIS of Mr. Gao
," as to the gold standard, but you al
y, ready with a new suggestion in its SUI
it port. Not only is it to be guaranteed /
in a regulation of coinage, but to be assure