Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-11-30
GOODWIN'S REPLY
To GUGGENHEIM
LEARNED WRITER SAYS NOW is
THE TIME FOR SILVER RE-
MONETIZATTON.

lished recently. He is made to say
that the idea Is common that it
would be a good thing for the gov
eminent to purchase $15,000,0 900 or
100000 600 worth of silver and
presumably Issue silver certificates
for the amount, to enter at once into
the money circulation of the coun-
try. He adds: But that, remem-
Der. is not the old cry of free silver.
Far from it,"
We take that to mean that in Mr..
Guggenheim's thought l. would be
we'll enough, now that finances are
so sick, to take a large dose of silver
as a medicine, but not under any cir
cumstances to use it as regular diet.
That, so far, is natural from a gold
bugs standpoint. But further on he
makes the remarkable statement
that: I'VE should have large
ly the same monetary system as
France. There money is gold and
silver and you never hear Of so per
cent money in France. When it is
so per cent in New York it is 8 per
cent in France, and when a demand
Is made for an extra supply of ready
money, France lets go her silver"
In the first paragraph there must
be mo free silver; far from it,; in
the second I'VE should have largely
the same monetary system as
France Now the old cry for free
silver meant 16 to / in this country,
while all the time, during all the
twenty years that this country was
in financial spasm because of the de-
monetization of silver, France NOV
ed steadily on her way, her silver was
worth as much as gold, and when any
person or firm desired to remove a
large amount of gold out of the coun-
try France rendered silver, for it was
equally guarded by law and equally
recognized as perfect, primary mon
ey. And it has been so ever since.
1t would have been so all the time in
this country except for the cries of
the robbers who were loaded up with
interest-bearing securities and were
intent upon reducing the volume of
money so per cent, that their secur-
tiles might be enhanced 100 per cent.
When Mr.. G~uggenheim wants our
money system to conform to that of
France. does he not see that to bring
that around there would have to be
the old full recognition of silver as
the perfect equal of gold, even as the
founders of our government estab-
lished? And France does not produce
silver; w do. Again. what Toes the
gentleman mean when he says the
to L? He must mean ounces rather
than value, which is most unfair, for
silver men always conceded that an
ounce of gold was worth sixteen
ounces of silver, and in point of
fact at that ratio the worlds pro-
duct is SO in gold to 81 in silver; in
pounds it is about the same. Again,
what, except as a palliative, would
the purchase of SIS, 900, 900 or $780,
600, 900 worth of silver amount to?
II would not half return what has
been brought from England and
France during the past month.
Again, the west wants no special
favors from President Roosevelt. He
is not in Office to grant special favors
to one section unless it is of benefit
to all the rest. If he desires to help
the whole country, let him take MI.
Guggenheim's suggestion. and recon-
mend in his message that the United
States shall make its monetary sys-
TEN. so far as silver and gold are
concerned, conform to that of
France. In that way he would con-
fer a favor upon east and west alike
and as much more upon the east than
upon the west as the business of the
EAST exceeds that of the west. The
robbers who held the bonds are all
paid. Why should not the govern
ment return to reason? A vote of the
people would ratify that two to one
From the chart Just put out by
George Otis Smith. director OF the
United States geological survey of
the interior department, the value of
the gold and silver produced in this
country during the past ten years is
as follows:
Year. Gold. Silver.
1897 IS 57,363,OOO S 32,316.OO0
1898 64,463,000 32,11S,400
1899 -. 7~1,O53,40O 2,S5S,7 700
1900 ... 79,I7t,O00 35,741,10O
1901 7S.666,7O0 3~3,12S,400
1902 So,O0O,o0 2~9,415.O00
iona 7S5et.7O0 2~9.322OOO