Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1907-11-27
GOODWIN'S REPLY
TO GUGGENHEIM
LEARNED WRITER SAYS NOW ~
THE TIME FOR SILVER M
MoNETIZATIoN.


ia the Guggenhcim interview pub
lished recently. lie Is made to say
tlaat the idea Is common that II
would he a good thing for the gov
eminent TO purchase s15,O0O,OOO or
100000. 900 worth of silver and
presumably issue silver certificates
for the amount. to enter at once into
the money circulation of the eoun-
Der. is not the old cry of free silver.
Far from it,"
We take that to mean that in Mr..
Guggenheim's thought j. would be
well enough, now that finances are
SO sick, to take a large dose of silver
as 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 monetarv system as
France. There mon5y 81 gold and
silver and you never .eaT r. SO per
cent money in France. N.r it is
so per cent in New YORK 81 IS per
cent in France, and when d 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 we should have largely
the same monetary system as
France Now the old cry for free
silver meant 16 to l 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
Understanding 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.. Guggenheim wants oul
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 az
the perfect equal of gold, even as the
founders of our government estab
| lished? And France does not produce
| silver; we do. Again, what does the
/ gentleman mean when he says the
/ production of silver to gold is as
| to 1? He must mean ounces rather
| tban value, which is most unfair, fol
| silver men always conceded that n
| ounce of gold was worth sixteeI
ounces of silver and in point O
! fact at that ratio the worlds pro
duct is SO in gold to 81 in silver; il
pounds it is about the same Again
what, except as palliative, would
the purchase of SIS, 100000 or $40,
100000 worth of silver amount to-
| 1t would not half return what ha
been brought from England an,
France during the past month.
Again, the west wants no specia
favors from President Roosevelt. H,
is not in office to grant special favor
to one section unless it is of benefi
to all the rest. If he desires to he'll
the whole country, let him take MI
Guggenheim' suggestion, and recon
mend in his message that the Unitet
States shall make it's monetary sys
tenn, so far as silver and gold ar
concerned, conform to that o
France. In that way he would con
fer a favor upon east and west alik
and as much more upon the east thai
upon the west as the business of tn
east exceeds that of the west. TIL
robbers who held the bonds are al
paid Why should not the govern
ment return to reason? A vote of tn
people would ratify that two to one
From the chart just put out b
George Otis Smith, director of tn
United States geological survey Q
the interior department, the value c
the gold and silver produced in thi
country during the past ten years
as follows:
Year. Gold. Silver.
1897 IS 57,363,000 S 32,316,00