The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1900-09-29

nave ite eDD a. u has had its food The
proof that we have not enough gold
IN the world today. even for the pres
emit nurnbr Of people that are on the
gold standard, IL to be found IN the
Iaet that there are In the world three
OF four billion dollars Of so-caIIed I'M
covered paper money. There are two
kinds OF paper money. One like q gold
certificate or silver certificate, which
resembles warehouse receipt ana
merely eirculates In the place of me-
talie money. each dollar represented
py dollar OF coin, which. IN turn, will
seek circulation when the certificate
retires: and the other Is promise 70
pay coin, paper substitute for money.
which In called uncovered money. paper
behind which there In only a system
or bookkeeping, and not dollar for dol
lar I'm gold or silver. II, my friends. the
world today needs and uses three and
one-half billions. or whereabouts. on
that kind OF money, win you ten me
why. IL there Is gold enough. you co
not destroy this paperz My friends.
the expanding needs OF the world have
made mother OF necessity and Inven
ton has followed. The make-beifeye
dollar has been made simply because
we nave not had enough Of the actual
dollar; and today. we have a law In
tne United States. passed in March,
py the republican party, 10 increase
the necessity for the make-beIieve dol
lar. AppIause.)
These people, some of them. are
much afraid Of the so-caIIed 4s-cent
dollar. TO which Mr.. Roosevelt refers
80 often that one must conclude thar
the idea has a special attraction for
his mind. or that the discovery IA 40
novel that he cannot get over Il In a
single speech. This ascent dollar
that never had any existence aside
from his diseased Imagination as a
gold standard advocate. is as impos-
sible as five-inch foot or an I7-Inch
yard. The Ascent dollar bears a pref
" good comparison. after all, with the
dollar that does not cost a fraction OF
one cent The bankers paper dollar
does not cost anything, but you have
to give up a dollar in order to get II.
Applause.)
Let me ask any gold standard man.
and let the next gold standard man
VINO makes a speech In this opera house
answer this question: II the use by
the people Of the world of a rnonetized
vacuum. II the use commercially. in the
buying and selling of property. and the
payment Of taxes and debts. OF a piece
of paper that didn't cost a quarter OF
a cent. can make II worth one hundred
cents. tell me why you cannot take Sill
yer. and by restoring its use to II. re-
store fits old value. (AppIause) why.
We claimed in 1886 there was no trou-
bic about IL. that the value of a thing
depends upon what you can do with II,
other things being equal Now. this
table may represent a mint NY
friends, here Is gold and here is silver.
Formerly for hundreds of years the
industrious miner delved in the earth
and wrought out his gold and his silver.
For what? To make money out of It,
In all the history OF the past centuries.
can you md people that sent men out
into the wilderness with dynamite and
giant powder to blow up the gold ana
silver mines because there was too
much money coming into the commerce
of the world? Wood not any man
have been called an idiot who should
have proposed TO send an army out into
the mountains to blow up the gold and
silver mines OF the world because we
were getting TOO rich? There are two
things that must be done in order to
make the gold and silver in the earth
useful in business as money. First. Il
must be dug out Of the earth: next.
after II has been dug out of the earth
and become bullion II must 90 through
the mint and be stamped into money.
Now. what difference does II make
whether you close up your mine or shut
up the mint? In either case you keen
the people from getting the money they
ought to have N order to do their bus
mess. (Applause.)
God has most richly blessed the peo-
pic Of Idaho in many respects. All
around about you are these great treas
ure-houses in the mountains What
would you have thought of a politicaI
party that would pass a law that you
should not do any more silver mining
In Idaho. destroying the property that
your enterprise had created, denying
the opportunity which the manhood of
Idaho was only waiting for In order to
make these waste places bloom like the
rose? Would you not have said that
the party was Infamous that would
thus deprive you of th= opportunity OF
growth and the whole people of this
supply of monetary metal? OF course
you would. But what is the difference
whether the party orders you to shut
up these mines or goes to work ana
shuts up the minis so that YOU will
not have any Involvement to open up
the mines? And yet YOU profess to
tell me that some of the citizens of the
state Of Idaho, some of whom went
out OF the republican party four years
ago because II only threatened to es-
tahlish the gold standard, are now 60
ing to vote for the republican party
just after it has actually es-
tablished that standard. Gap
plause.) Does this seem cred
ihle? Why, my friends. 1t was the
closing Of the minis that destroyed the
value Of silver. II thing is worth to
you what YOU are able to do with II.
then IL deprive your doing something
with II take away from its value 60
YOU The silver was worth to YOU
what you could do with IL. What could
you do with It? You could take Il to
the mint and have 1t stamped into
money and then you could do nearly
everything with IL. For money de-
mand is equal to the effective demand
for all other things in the market Did
YOU ever stop to think of that? This
opera house was built for money. the
men who fashioned its beautiful pro-
portions worked for money, the people
who now and then present plays on
this stage do II for money. the people
who play musical instruments do e
for money. your preachers who preach
salvation TO you do II for money.
daughter and applause.) There is not
material, physical. mental or moral
need Of the people that can be satisfied
by mere external indulgence that does
not call for money; so the demand for
money Is equivalent to the demand f.,