Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1899-01-22

ieve hat you do not understand this,
then I cannot conceive why you
suppose that any such superficial YEA
.;iveness could be imposed upon your
:ellow-citizens.
Mr.. Newlands, when you talk about
uncovered representative money you
IAN mean nothing else thar paper cur
rency, like our greenbacks, redeemable
in coin, and for which no special re-
lemption fund is provided. AS you are
not to suggest any increase of
money volume but only to create, with
such increase, an enlarged demand
for silver bullion, why should not your
proposed Pan-American agreement be
for the purchase of a silver redemption
fund equivalent to the uncovered paper
redeenable in silver? This would create
equal market for silver and have the
Of allowing a choice between
the secured paper representative and
the more cumbersome silver coins with
out in any way e~ndengering a gold
standard by an increase of the volume
of standard money. Even as a scheme
80 do something for silver" in goldbug
parlance, 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
silver. prefer to give it in your own
language, quoting from the Post:
Now, as to the question of limiting
production, we all know that of old
each government had a monopoly of
the gold and silver found within its
realms. The scarcity of production
led to h various governments offer
ing substantially a premium for its
production by making free grants of
mines when discovered, and so the
custom has 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 where formerly there
was a drouth. If, therefore, the Isl
for making free grants of mines no
longer exists why should these free
grants be continued? Undoubtedly
the mines of the present, which have
beer already granted by the govern
ments, are private property and must
be free from government %apprOpria'
ton, but they will 500 be exhausted,
and ever as to their product the gov.
eminent has a perfect right to insist
upon S~eiSniOrage in return for the
privilege of mintage, for il is the
stamp of the government which
creates the demand that gives THEN
ton of policy on the part of the gov
eminent as to whether or not it will
exact n seigniOrage. Should it bt
deemed wise to limit the production
of the existing mines il can be accom-
plished I,by eXacting a seigniorage
greater or less, according to existing
requirements. But these mines will
all b exhausted probably within til
next five years. The government owns
to-day the undiscovered mines of tn
future. If production is Undul.
stimulated why should not the Unitet
States and Mexico and Bolivia, pro
ducing as they do much oyer two
thip6S Of tho SiIunr of tho UnpII
determine to withdraw Temporarily
from granting mines that may be dis
covered? Leaving the matter Il b
subsequently adjusted, they can eithe
hereafter renew free grants or the
can place limitations upon them, o
limitations upon production, or the
can exact a royalty which in itsel
will limit production, and thus a pro
duction commensurate with the us
will be established and a use con
t mensurate with the production ca
be secured.
r 81 contend that there is no use @
r taking European nations into on
councils. As the producers of all tn
silver of the world, we can easily fl
the price. If price is dependent upo
: us, we "a increase the use without il
flatiOn. If price is dependent upO
r production we can limit the prOdu,
ton without violating any prival
right"
Of this I can only say that the ma
: who could deliberately write it and "
: pretend to be a friend of silver places
/ very low estimate upon the intelligen,
! of those by whom he thinks it will |
read. Mr.. N~ewlands, you seem not on.
6 anxious to indorse the views of Mr.. Gas
), as to the gold standard, but you a
ready with a new suggestion in its su