The Washington times., 1901-10-28
Circulation Statement.
silver No Longer an Issue.

The announcement by Senator John
p. Jones of his abandonment of the
Silver party gives renewed emphasis
to the fact. apparent for some time
past, that the silver question has ceased
to be a political issue in the United
States.
The Nevada Senator was one of the
strongest advocates of bimetaliism, and,
as with Warner, Bland, Teller, Towne,
and others, his arguments We're ground
ed upon the quantitative principle. Sill
Yer was demonetiZed al a time when
the production of gold was barely a
hundred million dollars annually, of
which from one-half to two thirds was
absorbed in the arts. SO that when we
consider the losses by wear it may be
said that the worlds money supply
was brought to a stationary point, or
nearly SO. while population and bust
ness were all the time increasing The
restoration of silver was not demanded
because ii was white" or by reason of
any other intrinsic quality which it pos
sessed. but merely because it was deem
ed necessary to prevent an undue re-
striction of the money supply.
But the industry of man has opened
up natures hidden deposits OF gold TO
such an extent that in 1899 the yield
of that metal was more than three
hundred million dollars. There was a
falling of of nearly fifty millions in
1900 as a result Of the war in South
Africa. but with the restoration of
peace in that quarter, and the increase
elsewhere. it is not unlikely that the
worlds product OF gold will soon reach
four hundred million dollars year OF
course. the consumption of the metal
in the arts has not increased in any
thing like this proportion. and the great
bulk Of the new gold has gone direct
" into the worlds coinage. 1t has
given a fresh impulse TO business ev-
erywhere in gold using countries. and
changed the whole aspect Of the busi-
ness situation. While arguments may
still be found in favor Of blmetallism, il
is clear that natures bounties in the
way Of gold production nave fairly met
the demand for a larger money sup
ply. and thus practically removed the
question from the domain of politics
Senator Jones action in leaving the
silver party AT this time Is entirely log
t-al although many Of his friends
would have been aiorc than glad TO see
him align himself with the forces Of
reform on other issues that have arisen.
Er7ls. - he says. he left the RepubIi-
san party upon the money question
o1iy and he has always been an earn
sSy- tovcetul champion OF protection. He
has Caade some very able arguments in
sappors ~ that policy. But IL is just
As e,car that the ttrln issue has
changed as it is that the silver ques-
tipn has been eliminated from politics
senator Jones arguments were always
FOR the protection Of the home market.
pu the more important Industrial lines
He have now got away beyond that
lllnt lt is no longer question of
protecting tae American rnanufactur-
es ~ a-tae. D.t rather one of finding
taeAes t9f ais surplus products
Qtoe,c s.c st f!le same time guarding
ts4e srsaslesI consuming public from
llH.ust rzz"ffgas MADE possible by IN
f-eoessssy tariffs. There is abundant
ss soa s9st now why the party tie
ssg-ss sii lightly even upon those who
8efe literally rocked in the cradle of
EepublicaEisn.