The midland journal. (Rising Sun, Md.) 1885-1947, 1900-03-16

money of their respective governments |
without scruple or question, and would be |
glad to do so, let that money be made OF
gold, silver or paper. This admitted fact
leads up to another self evident fact,
which is, that no owner of silver bullion
would sell it for less than the bullion
would coin into money at the open minis
Of those great nations. There is demand
IN the arts for about fifty million dollars
of silver. Could those who had use for
silver in the arts get the metal for less
than it would be worth when converted
into coin Certainly not, and the demand
for coinage being equal to, or beyond the
supply the price of metal must inevitably
be fixed at the coinage mark, as gold is.
But is the demand for money equal to
the supply? 1t certainly is, but let US
prove it. In 1893 the worlds supply OF
silver was equal TO $Io1.4I6,ooo at the
ratio of I6 to of gold, of which the
United States and Mexico produced two
thirds, or $I43, 900, 900 in round numbers,
the balance of the world producing about
$4S, 900, 600, and there is a demand in the
arts for fully that much, leaving $I43,4I6,-
900 subject to coinage. With hundreds
of millions of bank token or redeemable
paper and billions of credit, the most pre-
carious of all money, in use by the people
of these great industrial nations in order
to exc out barren supply Of money, is
there anyone with hardihood enough to
claim that these great European nations
could not absorb the paltry amount of
silver $I43. ooo, 900 annually, or even twice
as much, and hold it at par with gold, till
all the nations opened their minis to free
coinage of silver. in order to secure their
share of trade which the open minis were
drawing TO Great Britain, France and
| Germany?
But why would those great nations
draw from all the world purchasers who
owned silver3 Because they could pro-
cure anything in the form OF merchandise
they needed and asssnuch as might be de-
manded, and exchange their silver for it
at the same ratio that silver bore 10 gold.
In word, those rich powerful nations
have the ability to absorb the worlds
silver and supply its demand with mer-
chandise. We believe there is not man
whose opinion the public would deem
worthy of consideration can be found 10
dispute these facts.
Very well. The ability ofa nation to
absorb in use money. and supply the
needs Of the world, is the measure of its
capacity 10 hold its siverat par with gold,
and those great European nations possess
that power. We believe no one will be
found to dispute this axiom
And now let us examine the ability of
the United States to do this by conipar
ison with the three great European
nations. In extent of territory the United
States far exceeds the combined territory
of all these nations. The domestic or
home trade of the United States exceeds
| the combined domestic trade or internal
commerce of these three nations and is
| N4ufai " tudt vi man luC ISL Vi Tic WOiltt,
so stated by Post Master General Smith.
We have more miles of railroad than all
of Europe. American wages and prices
are higher than those of European
nations and if the ability to produce and
the demand for money measures the
power of a nation to hold its money at
par with the greatest nations in the world,
then the United States wields that power
| in superlatiye degree. The logic of
established facts is so convincing that the
United States possess the power to open
their mints to free coinage and at once
compel every country on the globe to pay
the American mint price for silver or lose
its trade, that we belive no well-informed
person will dispute it and advance rea-
reasonable argument to sustain his
contention.
1t is a delusion TO assume that the
money question can be taken out Of pol
itics. 1t is destined to remain and grow
in importance as slavery did.