The Elk Mountain pilot., 1900-04-03

winch is the very basis of all cOIr-
mercial reckoning. One OF the first
effects of the settlement of the stand
ard has been to set loose for invest
ment enormous sums of money which
We're locked up in the banks and the
result is that Democratic predictions
have again been falsified by an actual
increase in the circulation per capita
in the United States. Upon this point
Congressman Smith testified as fol-
lows:
The predictions of our opponents
were that the gold standard agitation
would interfere with commerce, that
around our country, and when we let
no one in we would be unable to sell
anyone. A strange coincidence it is,
that while our commerce reaches the
enormous figure OF two billion dollars,
our monetary circulation, and tonight,
while l am speaking TO you, the circu-
lation medium Of our country has
touched and passed the two billion dol
circulation being sos per capita, as 1t
was in 1895 and 1896, it is over S26 per
capita, and over sixty per cent. of the
increase is in what?-not In worthless
money that our opponents would have
put upon the country, but in gold coin,
recognized the world over as the true
measure of value. do not believe any
journal, however depraved, can distort
these figures, taken from the actuary
of the treasury of the United States the
day that l left Washington"
There are doubtless other reasons.
The increase of gold production,
number of years Of successive good
crops in the United States, the earnest
and intelligent efforts of the American
diplomatic service in the promotion of
foreign trade, the victories of the Span
ish war, the successful efforts in the
line of reciprocity, and others have all
contributed to the result. But the two
first mentioned, the restoration of
protective tariff and the placing of the
monetary standard beyond the reach
of the agitators are of themselves sufii
cient to produce tle results. 1t is not
surprising that the United States
should find itself Independent for the
first time in its history of foreign CAPT
tai, with money enough TO undertake
all legitimate enterprises and even with
n surplus available for investment in
foreign undertakings or European gov
ernment loans. That this is so is proven
by the $25, 600, 900 loan recently made
by New York capitalists to Russia. One
especially interesting feature of this is
the fact that much of the money is to
be expended in the United States for
the purchase of coal, agricultural ma
other products of labor which are to
be sent to Russia, 100000 being
placed in st. Louis for the purchase of
cars. another million dollars in Chi
cago for agricultural implements, and
still more in Pennsylvania for railway
engines and materials, thus benefiting
labor in the United States as well as
capital. In addition TO this actual loan,
1t is asserted that United States finan-
ciers offered to take the entire loan
which the British government recently
put upon the market.
The financial independence is one OF
the accomplishments of the Republican
party, n victory of common sense and
the American tariff and n policy of
conservatism and steadiness in the
financial affairs Of the nation. Repub-
lican methods produced the condition
and it will continue SO long as the af-
fairs of the government are directed
along similar lines.-Colorado Springs
Gazette.