The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-09-17
ITS OWN TEACHINGS


In a rather elaborate explanation of
its abandonment of the silver question.
the local Republican organ falls natur-
ally and gracefully into the ways of
goidbugs generally.
First, it misrepresents the position
of intelligent bimetallists in its sum-
mary.
Second, it makes use of the stock ar
guments that goldbugs have employed
since 1873.
Third, it ignores the fact that there
have been temporary periods of pros
perity at irregular intervals ever since
the decentralization of silver, followed
invariably by periods OF financial de-
preston.
In 1896 the contention of silverites
was that the increase of population, the
increase of productiveness, the increase
of trade in this country required an in
creased volume of money. This was
necessary, according to the silver au-
thorities OF 1896, for the stimulation of
industry, the development of the coun-
try, the maintenance of prices And
since 1896 by the unexpected increase
of the circulating medium. Goldites
told us there was enough money for all
purposes in 1896 Yet they are rejoic-
ing because the volume has been aug
mented by reason of famines abroad
and gold discoveries in the Klondilze.
But these are artificial stimulants. The
gold fields of Alaska are already losing
their attractiYeness. The gold that
comes from the Yukon costs more than
it comes to. The demand of famine
stricken countries for United States
grain is liable to cease at any time
Every goldbug knows this. Every sill
verite feels that depression can as sud
denly and as dreadfully follow the
temporary prosperity of today as the
panic of 1893 followed the so-called ban
ner year of 1892. Yet our neighbor has
said time and again that the panic of
1898 did not have its origin in any
change of administration, but sprang
directly from the financial legislation
of 1873
The Tribune wants to know, and its
question is a notice served upon the
\ people of the west that it prefers Nc
Kinley TO Bryan and will support the
Hanna organization henceforth III spite
of all previous half-hearted denials-it
wants to know why voters should
drop everything else and vote for a
certain candidate because he advocates
the rehabilitation of silver?" We might
refer it TO its editorial expressions from
time immemorial up to the day, last
April that it suddenly discovered that
the buxom free silver lass it had been
sitting up with was a corpse, but our
neighbor has reached that stage of ex-
istence and frame of mind when it
likes nothing better than TO contradict
its own utterances- and quarrel with
itself. 1t isn't proposed, as we under
stand it, to invite voters to drop ev-
erything else and vote for silver It
isn't the intention to ask them to drop
anything that is right or to take up
anything that is wrong. But no man
who regards the reconciliation of sill
yer as essential to the welfare of this
republic, who feels that, accidents or
no accidents. it will have to come, will
ever be able to justify himself in his
own eyes or in the eyes of the public,
by abandoning the principle now to
take UP with the gold standard or any
other un-American policy that the
money powers are trying to foist upon
the American people.
The Tribune lays particular stress
upon the action OF the financial COM
mittee OF parliament, which is domi-
mated by the same influences that dom
mate the goldbugs of the United States.
Our neighbor has said so time and
again. But now it reiterates the dump
ing ground" argument of Sherman.
Cleveland, Mckinley, Gage and the
whole gang of yellow metal champions,
whose effigies it has figuratively burned
in cracking ire for more than three
years: II says:
India has been the great absorbent
of silver for centuries. She has vast
stores of silver; according to the best
authorities. quite Two thousand millions
of dollars worth. She wants to dis
pose of enough Of this TO obtain $780,
100000 in gold with which to fix a. basis
for putting in effect her gold standard
OF course, should the United States
adopt the double standard and open her
MINIS dS lntN vert PRIOR 10 1919 10
both the precious metals, this silver in
shiploads would be sent here for coin
age and when coined would be inter-
changeable with gold. The shipping of
that silver would bring it in direct
competition with the American silver
miners product"
1t Says that the United States can
not maintain the parity of the metals
because the Indian government has 81. :
100000 worth of silver she wants to
trade for gold. This is a mistake. The sill
yer in India is divided among some $780,
100000 of people. 1t is not enough for
the ordinary commercial needs OF the
inhabitants. There is no intention on
the part Of the government to gather
this up and send it away. Such a
proposition is absurd. The object of
>>e single standard in India Is not to
supnlant the silver in circulation with
gold hat to make gold the standard and