Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-13
PRODUCTION OF PRECIOUS
METALS.

The Issue OF 1896. as It will be the is
cue of 1900. was squarely distinctly and
loudly made in this country the moment
1t was learnged from England that sill
yer had been actually demonetized in
1873 by secret and fraudulent clause
OF an act of Congress, purporting to be
simply for the regulation of the Mint.
1t was at first hoped that the dis
closure Of the crime and its effects
would force q repeal OF the obnoxious
legislation, without making it a party
and political issue; but the beneficiaries
OF the fraud were too many. strong and
diligent for the people; so that. in 1896,
the Democratic party. revolving at the
same time from Clevelandism and
Cleveland, raised the issue of the re-
storation Of silver as constitutional
money with gold. as against gold alone.
1t iS plain story.
There was no effort on the part of
anybody to stimulate the value of silver
as a commodity. 1t had fallen, of
course: 1st-in consequence OF the great
contraction of the currency by silver
decentralization. under which values
generally (not Of silver only) had fallen
an average Of so per cent Silver alone
had been demonetized; but every other
commodity (unless FOR special reasons
to the contrary also fell. and nearly, IL
not quite, In the same ratio But be-
sides the contraction OF the currency
by the decentralization Of silver, or the
repeal of -its free and unlimited COIN
age. the value of silver was more or
less DEPRECATED by being no longer a
noney-metai: on an equal footing with
gold. The two causes operating sinful
taneously here and elsewhere lowered
the price Of silver in the markets, where
formerly 1t had. and could have, but
ono price: That fixed by law:-just as
gold. though of ever varying value,
has but one price--by law.
Nor did, nor does silver require any
artificial stimulation to increase its
value. It's natural. customary, constitu-
tiohal, prescriptive and benencent place
as moneymetal. from which 1t had
been ruthiessly and fraudulently thrust
by contractionists. to aggrandize
money, make it the monopoly of gold
and, its, holders (the people never hold
ing 1t to any amounD, and to make it
the universal master at the universal
cost,-its restoration to this natural and
legal. place was all that was demand
ed by Mr.. Bryan, the Democratic party
and the people.
AT THE RATIO OF SIXTEEN TO
ONE. SILVER WAS AT PREMIUM
ABOVE GOLD AT THE MOMENT OF
ITS OBSERVATION-DISCLOSURES only
means by which fraud could strike it
down. Yes: I'm spite of the plot, nothing
availed but the crime OF 1879" and If
at,that time 1t had any artificial" adj
vaptages as money, they were enjoyed
mutually and in common with gold
artificial advantages doubly en-
HANGED by contraction and the demon
etization of silver. AND HELD
ALONE. IN MONOPOLY, BY GOLD.
What the Landmark says about the
Increased production of gold follows
naturally on the decentralization of sill
yer, and this growing product has been
trumpeted TO every breeze. In 1886
$42O,ooo.000 Of gold and silver were pro-
duced,-not s32o.ooO.oo0: suppose that in
1900 more gold alone be produced than
gold and silver together in 1895? The
robbery of silver is a fact--,a continuing
and increasing fact, no matter how
much gold be produced-even If gold