The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1899-11-03

tnrOatS OF the producers, the mOnOp-
ollsts have during the past few weeks
been p~ronouncirg in their Republican
state platforms in favor Of the single
gold standard. The following quota
tons show what the leading political
economists and the leading Republican
statesmen have said Of this single
standard policy:
Hon. John De Witt Warner, in his
Free Coinage Dissected," says on page
8: "A good deal of complaint is made
as to the small amount of gold in the
world. 1t is the very fact that gold
is found only in small amounts that
makes it so desirable for currency"-
to the money holders.
NJ. Rouland, governor OF the B2nk
of France, said: I'VE have not to do
with ideal theories. The two moneys
have actually co-eXistcd since the ori-
gin of human society. They co-eNist
because the two together are neces-
sary, by their quantity, to meet the
needs Of circulation"
Mr.. Giffen said: 1T is a moderate
calculation that if only the countries
which used gold in 1SiS, including
their colonies, were now using it, the
requirements to correspond with the
increased population and wealth would
be at least three times what they were,
assuming prices to remain in equilib-
RUM"
Sir William II. H~oldsworth, Bart,
says: But the quantity Of gold pro-
duced has been insufficient to meet the
extraordinary demands arising through
the adoption Of sold by the countries
which have demonetiZed silver, in ad-
dition to the ordinary requirements Of
gold-using countries, arising from the
increase Of population and the extern
sion of trade"
The Bankers Magazine said three
years back: 1T is unQuestionably true
that the depression from which the civ
iliZed world is to-day suffering is due
to some extent to the small quantity
VI gnu SAAoLihS iol lic All ulUuS re-
q~uirements made on the metal"
Mr.. Walter Bagehot says: "Proba-
bly, if there were gold enough for all
the world it would be best that there
should be only a single standard OF
value throughout the world. and that
one gold; but this is impossible. Some
hcva dDuhtcd IL tIaro ic uo11 opo,,rb
even for the nations that now intend
TO use it, and there certainly is no.
enough for all the world"
Mr.. Edward o. Leech, formerly d.
rector of our mint, says: Passing by
the great question of the fall in the
gold price of commodities, so far as
such fall is due to monetary causes |
find that one Of the nos serious Ian
gers which confront us is the INSULT
cheney of the supply Of gold as a basis
for the present and prospective bust
ness of the commercial world"
Ex-Secretary of the Treasury Charles
Foster said in 1891: at is now agreed
on all sides that gold alone furnishes
too narrow a basis upon which to con-
duct the money affairs of the world"
Mr.. James G.. Blaine, in his Twenty
Years in Congress-" says, having ref
erence to the then Republican con-
gressional majority: This class
feared the effect of an exclusively
gold standard while the supply of gold,
compared with the commercial de-
mands Of the world. is relatively and
rapidly growing less"
Hon. John A. Logan said in 1879:
mo sane man. in my judgment, will
state to-day to the country hat gold
is produced in sufficient quantities to
pay the debts Of the government and
to redeem the obligations of the gov
eminent"
Hon. Roswell G. Horn said in 1898:
Il am inclined to think that the world
should have a larger amount of money
Of ultimate redemption than con be
supplied by the gold Of the world
alone"
The present secretary Of the navy,
John D. Long, said in 1886: LET us
admit that our immense territory,
population. business and commercial