Show should not europe as 9 the owner of four fifths of the worlds gold want a gold standard sp that she phe may inay control absolutely the only measure of values and to dictate terms to all the the gross production of gold in 1890 was of this the united states supplied 3 and tit all the rest of this continent in till nil about this leaves to africa russia and australia and the balance of the world herein it becomes evident why the interests of these nations lie in the maintenance of gold as a single standard if we absolutely degrade 0 silver we ire cut off so EO far as this continent is concerned in a mining sense the production ro of gold and lead because these metals are found in conjunction and am seldom mined rained separately it is estimated that our silver lead ores carry from 33 to 60 per cent of gold if by the complete of silver therefore we stop the hs production of silver we also reduce the output of gold say 50 per cent this would leave eave the gold production of this bonti continent nent at about ab tit as against now or about 25 per cent of the worlds gross product as against nearly 40 per cent heretofore of the worlds product of in silver however in the same year this continent contributed or over five sixths sixtus take tho the total value of gold and silver produced by all the rest of the world in 1890 leaving out this continent and it aggregates about tile the combined gold and silver product of this continent was over ilSO in the light of the contest now wa waging against silver surely these figures are significant I 1 let silver once be rehabilitated byall by all the nations and what would be the result the financial sceptre tre following P the inevitable course of civil civilization i n would depart for the west and this continent blest of god in agriculture and boundless bound les in mineral resources would not alone be the producer of food and clothing and luxuries for all the world she would alsobr also be the banker for all the world who can blame europe in fighting for fora a monometallic mono metallic stand j ard she contends for financial ex ib tence in contending for the rehabilitation of silver the men of the west are fighting for the early attainment of that destiny which this nation in the economy of the C creator r cator to fill f it H is ia n ep speakers eakers in the east th thit at W 1 cheap money tile the intrinsic value of gold and silver I 1 take tobe their ac actual cost the human lobor labor put into their production if this be true esplan explanation aaion there is not a silver or a gold dollar in circulation I 1 that lias has not cost vastly more than any legislative value ever given it i of all luxuries our money standard is is the costliest cost liest its production involves a constant loss to tho the him human lan race many ignorant of tile the methods by which gold and silver are produced believe it is simply necessary to go out and get gold or silver at orfio n by dig digging cinq the story of our race tells a different diner tale the history of the conquest of peru and tho the subjection of mexico describe partially the lengths to which mankind will go for preciosa preciou preci oua ii metals trails of blood cover the west as a result of the fight for gold and silver the year 1849 is not so far removed that there are not still heavy hearts and broken homes for the gold of california the frequent uncovering of the skeletons of men once full of hope and courage who suffer buffered eil death through privation or disease or fell by the hand of the red man in the search for the metals that meant money reveal a condition that is not wholly in harmony with willi the unenlightened 0 likened ideas of many as to the way gold and silver are produced men have given up everything for these metals for the S same ame reason that men have staked their all at cards where Whereon one eman man wins in the mining lottery hund redi red 3 fail where there is one mine showing shelving signs of activity and betokening tok ening prosperity you will find bundi eds of abandoned claims in the alluring development of which countless thousands of dollars have been irrevocably lost if the price to be paid for money is 9 to bo be governed by the cost of production 1 tion as indicated bythe few properties that pay then gold should be cheaper than silver there is one mine in the black hills that produces a dollars worth of gold for about thirty oue cents i who knows of any mine that produces silver so cheaply there is only one cheap money and that is the paper money issued by the government its intrinsic value is is but the fraction of ft a cent though it represents ep resents a thousand dollars yet it is taken by those that would not accept a silver dollar because some eastern paper diving into the reports of half a dozen paying mines and ignoring the hundreds that while contri contributing butin to the segregate aggregate production of silver do so 0 o at a continual loss declares tho the cost of silver averages about sixty cents an ounce I 1 am reminded dod of nn in account lately published in the new york world 11 orld of the meting meeting of tile the new york city chamber of commerce held for the purpose of urging the repeal of the sherman law and to send rend a d delegation to washington to fight silver of about members present only three had a kind word to say for silver one of these directed the attention of this body of Anan financiers ciers to which all in this country ire are sup supposed pod to to defer or be guilty of a di disrespect not far removed from blasphemy to the fact that in 1883 the british government had appointed a commission to enquire into the financial half this commission reported charging the depression to the of silver then the N Y chamber of commerce claimed that the sherman law lair was responsible forthe for the troubles here W V 1 I st john a banker in new york a gentleman who for eight years had bad studied the subject six years of that time on his own dec declaration declination com batting the western iden idea and then becoming converted to its righteousness by the lie force of reason and in direct opposition to his prejudices this gentleman challenged 0 iny any of those present at the meeting to take up the he gauntlet and discue discuses s the subject with him all but three voted to ight fight against silver when they knew so so little little about it that aboy the could make no answer to the challenge of one of their own number that lad had devoted to the subject years of research and patient study they would not even hear it discussed but we are told that the voice of new york is the voice of reason and that what is good enough for new ew york is good enough for the whole country it is to this illel irence that we are directed when a bimetallist bi advances in an ar argument n truly little wonder can be felt elt at arthe extreme of western men when they are pitted against the dogged prejudice and vindictive density of eastern bu business i men and bankers on this su sub b eject act we are nat compelled to re rc co nize business men gerie generally rally or sinkers bankers as necessarily possessing occult knowledge 0 on the subject of monetary standards which the rest of the world may not also acquire one may be skilled in the business of endorsing 0 interest on n note otey clip pcr r toris I 1 and beok af TO ac stunts ants and still know absolutely nothing on the question of monetary standards As a rule these so fo called financiers have as little knowledge of money measures as other people one man el charges our ills to a specific cause and because no other solution is apparent or because self interests prompt a ready assent we all rush around crying this is the cause this is the cause remove it this is not the voice of wisdom it is the cry of ignorance for this reason I 1 do not grow uneasy or alarmed because an aggregation 01 of men calling 0 themselves a chamber of coni commerce merco resolve that the sherman law lias has caused such financial unrest that they can charge 0 and obtain readily ten and twelve per cent ii interest terest in the city in new york there are facts of this issue when these facts are made plain to the producer the design of the creditor who is generally anything 0 but a producers producer will become apparent the new york and I 1 plead guilly to a faithful pershal of its columns in the now almost forlorn hope that I 1 will wili some day find therein an argument C on the silver question has repeatedly declared that legislation has been persistently accorded silver miners against the best of the country so EO as to maintain the price of silver and that despite this legislation silver has as persistently declined in value but it also stated a few days ago ago and stated editorially in answer to a correspondent that silver was de in 1873 because the metal was dearer than gold in 1873 a silver dollar was ivas worth 1016 the disciples of gold declare with a vehement iteration worthy of a nobler cause that where there is a double standard tho the cheap metal always drives out the dearer they point to the recent export of gold as evidence of the fact that steadily cheapening silver is the cause leaving unexplained the fact that in the last two months silver has been lower than ever before and yet gold is returning wo we ire are led to ask how it comes come that our financiers and statesman 0 of f 1873 did not then secure a supply of chear cheap gold and so put the united states now evv in a position to bo be a lender instead of a borrower borrowe r of gold it the theory that cheap money drives out the dear be true then speaking literally wai was our golden opportunity it is said we have been losing gold all the time the united states has produced produce I more gold than any other nation in the world despite the policy adopted in 1873 which has brought 0 us to tile tho face of bankruptcy MC have more gold than england and more than Gerni germany any neither of these is of record as a nation contributing a dollar in gold to the worlds supply our statesmen demonetize de silver because it was clearer than gold old if that was then the logical course from a financial point of view tile the way to repair the damage 0 is to demonetize ft gold old and rehabilitate silver and lot let gold worry for a time the proposition will be properly characterized as absurd but it is logical as tho the reason given for its on oil I 1 1873 nor must it be forgotten that gold is today produced cheaper than silver congressman 0 newland of nevida nevada is my authority for the statement that the same interests which are now clamor clamoring in for the demon eti bation of silver in 1850 were as persistently and furiously contending that our country would koufi be a financial wreck if we did not demonetize gold at that time california was filling tho the world with tile the yellow metal and its production was as much out of proportion to that of silver as tb the e pro of silver is today out of the proportion to that of gold it shoula be apparent from t this llis that these interests always opposed to an abundance of wealth measures are denely ignorant and easily alarmed l or are insincere and sinis ter in their motives to the worlds product of rold gold in years according to the united states contributed 1 under one fifth the gross amount the united stites states has today out of the in gold coin i in n the world or a fraction under one fifth silver has been the cheaper cli caper money for twenty y years if cheap money money always drives out the dearer how is it that we lye have maintained our store of gold intact the proportion of coined gold to the production of the lie world considered certainly this cheap argument must be abandoned or tho the statistics furnished by gold must suffer an ao n immediate and astounding toun dino ding alteration accepting 7 their theory wo we should have n no 0 gold taking the fact we hold our proportion the loss of gold has been to the spanish american colonies coloni cs which have sold theirs for the products of germar german v eng aguas i the 11 america american fi continent has produced over half the gold in the world and over five sixths sixtus of all the silver today she is maintaining in the proportion as to silver but is losing her proportion as to gol gold d producing a little more than one third in other words this part of tile the world out of 1 in gold and silver produced in gold and silver leaving the rest of the world to produce 4 or the american continent furnished over two thirds of the gross gross amount af f gold and silver in tho the world while the same nations now have only in gold and s silver i iver coin out of the aggregate amount of 1 leaving to tile tho part of the world which produced but one third tho the we wealth alth measure over four foul fifths of tho the money I 1 see no clearer point in the whole controversy than this having havin in obtained the money the wise wise finan ciering movement is for europe to fix fisc her prestige by insisting that silver shall no longer be recognized r as money tho the question is will america sell her birthright for a mess iness of pottage |