The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-07-22

these two years has exceeded the pro-
duction of both silver and gold.
Every set of financial statistics issued
since 1887 shows a vastly increased gold
production, but it has not kept pace
with the growth OF trade. There IS
demand for metallic money expressed
in every table of commerce and coin
age. which gold alone cannot supply
With the growth OF commerce all this
talk of cheap money" and floods OF
silver" as a direct result of the free
coinage of both metals. is nothing in
the world but bugaboo for schemers
to use in frightening the timid, who
are known in politics as "conserva-
tives'
The total metallic stock of the world
gold and silver, held and coined by
all misunderstanding Gage Informed
us in his last report, is $4.6S1, 100000 in
gold and $3.1O2. 400, 900 in full legal tender
silver and $7S3, zee, 600 in subsidiary sill
yer. or coin of limited tender. Here is
metallic stock of IS. 467, 500, coo. Add to
this sum $2,SS6. 100000 of uncovered
paper. money issued on public credit.
and we have $11, SO4. 100000 as the total
money supply of the world. This
wouldn't buy one-sixth of the property
in this country alone if it were put up
and knocked down at a forced sale If
all the world were forced to square ac-
counts it wouldn't constitute a respect
able asset in bankruptcy proceedings
There are financial circles in which
wealth and power have concentrated,
owing to unwise and unjust legislation;
there are localities where the life blood
of trade has cengested because of some
! serious arrangement of financial and
| industrial systems; there are Lombard
streets in some countries and Wall
streets in others where money is too
plentiful already" but it isn't so in
the channels of legitimate trade; it
| isn't so among the masses of the peo-
pie; it isn't so in any country of the
world; and a flood of money as a result
of the free coinage of both gold and
silver would be impossible.
The world is just entering upon an
era of the most remarkable commercial
development in the history of the hui
man race. Restrictions to trade are
being torn from around the nations
Even the Chinese wall is being battered
down and the policy of commercial ex-
clusiveness which has held the Chinese
| market for the Chinese merchant ano
manufacturer is being superseded by
one of commercial independence. In
spite of narrow financial and industrial
methods western civilization is bound
ing forward and the light of progress is
penetrating the dark corners of the
east. The tide will sweep on, subject
to ebb and flow, but irresistible in spite
of false standards set up to divert the
wealth of the world into the hands OF
a scheming few.
And there is hope in this progress
With progress comes enlightenment az
well as avarice. The few will grow
more grasping. The many will become
more enlightened. The people must dis
cover soon the object of the single
standard advocates. The masses mus
Cutie " d Icd14LdIlO1A. u Tic 1dCL l1leiI
broader financial basis is essential t
progress, with justice in which '-thr
man who owneth the rose tree shall
gather the rose"
The people of this republic, eve
! ready and willing to take the lead il
every struggle for humanity and TO
right, viii surely set the world an ex
ample in this. They will treat tn
schemes of the money changers a
they deserve to be treated. They vii
record their disapprOval of a financia
system which has forced upon tn
f world Of commerce the means of givin
2 a selfish few the power to draw unit
: themselves for their own aggrandize
a ment the results of the application @
mans enterprise, ingenuity and energ
: to natures storehopses.