Gilpin observer., 1914-12-31
TO OUR PRESIDENT

The United States is in serious
Industrial condition. The peoples
powers of consumption have been
greatly diminished and this in turn
has compelled a great curtailment of
production. Thus the capacities to
both produce and use are far below
normal. The improvidence or misfor-
tunes of the masses have greatly re-
duced their power to buy food and
clothing and the ordinary comforts of
life and the result has been industrial
stagnation. To restore to the people
their confidence and faith and ability
to buy is the question of the hour.
The writer believes that you are
deeply concerned as to the cause for
this unnatural condition. He is con-
WINGED there is only one great con-
tributing cause.-the scarcity of mon
ey in actual circulation. There is
scarcity of money, and of what
there is too much in the hands Of
boarding spectators. How to remedy
this deficiency of circulating medium:
must be great purpose with you. To
issue bonds will do no good, for that
only supplies the government with a
little money for expenses by increas-
ing the taxation burdens of the mas
ses. To issue fiat currency will do
no good, for this must either be
earned or borrowed to get it in use,
helping only those who need help
But there is way that should be
plain to every ccnsiderate mind, and
the purpose of this article is to show
a part Of that way, by which both
the government and the people will,
be directly helped without any ad-
ditional burden of taxation or strain
upon the public credit.
There is still the law permitting
the purchase of silver bullion on gov
ernment account. The only thing that
stands in the way of such purchases
is the will of the United States treas
uIy officials. No act of Congress is
necessary, unless it be to compel sill
Yer purchases. Why should not the
United States buy domestic silver in
the public market and convert it into
coin or issue silver certificates there
on? What If, under the influence of
such practice, silver should go to
80 cents, or 81 or $1.1O AN ounce? The
government would still be making an
enormous profit on the transaction.
II the metal should go to the coming
value purchases could be suspended.
For then the government would not
need the help. 1t would give great
impetus to business. The miners of
silver would buy much more and
would employ many more men, and
this impulse in turn would extend to
all, channels of industry and trade.
And just for the simple reason that
it is fundamental means for getting
money into circulation. The effect
for good would be instantaneous and
would be far greater than the volume
Of business directly represented would
indicate. It's beneficial influence
would permeate the whole industrial
structure of the country
II the congested and suffering
east dosen't want the silver senl 1t
west. Well take all you can pro-
duce of it. in both coin and certifi-
Gates, and will still be anxious to
get more. Why levy war taxes and
supply revenue deficiencies and re.
lieve the distress Of the people gen.
orally VIXEN there is remedy at
hand. without further enactment. that
will naturally and automatically sup
ply both needs? So long as silver
Is worth s1.29 an ounce commercially
there will never be any need of spec
ial legislation to meet the ordinary
expenses of the government or help
the people tide over an industrial
crisis. If you do not believe these
things are true try buying silver for
while and see.-Lake City Times.