Show 46 r V MUE r sa s1 s nsf y A v R atiel kina t addressed Q jegier tr lo 10 dc treasury in h vocatie the expedient dohnal coinage e a 4 purely 1 ac 10 au H he shows choit western hex hemisphere produces e i fifths of 0 the 9 silver of 46 aror world aw ana 1 he argues that kh the medium of a pan bencan men irilan can agreement we can regu aa price of the metal so as aa to lya tore r ef parity at 16 to 1 oi tUny y other ratio we may see fit OP an important feature in m mr achere is ig the on in all american countries ot ok iteal money for representative money oney he quotes from the mint director s report for 1895 to show at the uncovered paper money is is W cas follows gathe a united states axil W central american states sg south american states total he then adds cc we have then nearly 1000 of representative money T for or which we can substitute metal H lie money both gold and silver f and we could so regulate the coinage coin of both as to maintain their parity a why should not the americans absorb in coinage all of 4 the of gold and and all of the of silver which they produce at this rate it would take four or five years before all the uncovered un paper money would be retired even though none of the gold and silver f were absorbed in the arts and this I 1 demand leaves out of circulation IT entirely the necessity for inc increasing the money volume in in proportion to t population or business would f this be inflation would this be 4 expansion sion it mav cony be said that with this stimulation of use prod production diction might f be stimulated my answer is that the american countries couii tries can easily limit production if they I 1 wi wish wih h but before entering upon the quest question iol of limiting limiti ug production 1 would like to say a few words as to the necessity forit for it i mr newlands New lauds does not believe there is any danger of an overproduction of money metals here or elsewhere holding that the demand for purposes of retiring uncovered paper and for meeting the requirements of increasing in commerce and population will more than keep pace with the supply he shows however that the united states bolivia and mexico acting in concert can limit production to any needed extent HS as to question of limiting 10 production we all know kaow that of old each government had a monopoly of the gold and silver found within its realms the scarcity of production led to the various governments offering sub ly a premium fur its production by making free graut grants of mines when discovered and so the custom has existed in in the united states and mexico of granting ff freely to the prospectors the mines r which they discovered the result has been therefore to subject these miners camera to the exploitation of t tremendous energy and enterprise I 1 and his has produced a flood of silver inhere formerly there was a drouth S i F k ait therefore the reason for mak g ing free fe grants of mines no longer exists why should these free grants vt IH be continued undoubtedly the ti tk embea em wea of the present which have hare A 9 N ne ileen been already granted by the brov H mt cm eru comments ments are am private property wid and must be tree fm from government ap waz ff mation but they will soon be ij exhausted and even as to their th el ir product the government has a per V A y feet right to insist upon 43 iu return for the privilege of tm nm tage for it is the stam stamp p of the gove rement which creates the de stand and that gives their product balue and it is a mere men question of policy CY on an the part of the govern jrnest ax as to ht at or wt not it will r t ge should it he be ed wise to limit the prodoc 0 off ta inloes mines it can be yf by exacting a aseiw seig g wl rac geater or less lea accord 4 Z cx exists islan requirements 5 unities will wih alt all bees next five spi V ibi 1 1 4 v gov emmert ao I 1 1 mk j iv M saives w af ahe afi y e OR MIN action As loii dul uly V awai shird vot elfae 81 mw wa I 1 1 1 l k az aau ll 11 V A axim 4 an antt 16 gat 4 tl t ia i 1 1 l t A do anch th MW 2 rt iHa kt a 14 li csia t i so rf ue 1 vt ra ia v 51 5 1 iraj affia tto si ayt y tia au sli A yi s gaz 01 t r anew fc tyer alv al ve the v can place ami ak rr W fea fe a AST AS T T ts V ma schy y y N 1 s T r ITO or they cabet can ex acita royalty ty w ma I 1 in m itsell win vim stait and nd thus apro commensurate commens arate with the use wil be established and a 6 use commensurate with the production c can be efured 1 I contend that there is in no use 0 of taking european nations into 0 our oar councils As the producers of all the silver of the world we can easily fix the price if price is de pendent upon us we can increase the he use without inflation if price is is dependent upon production we can limit the production without violating any private right the proposition is simple and intelligible enough america pro duces about four fifths of the sil oil 1 ver of the world the industry is one which america can either turn into a source of tremendous wealth or neglect to its injury and deg ra dation under the operation of a pan american agreement we can limit production according to our needs we can substitute real money for representative money can make c oin coin and not credit the basis of our circulating medium and can restore to prosperity those vast enterprises terp rises which once furnished a livelihood for millions of our people but which now lie idle at the demand of the money changers of europe mr air New newlands lauds offers us material for very serious deliberation the money problem was not solved by the elections of 1896 it will never be settled to the satisfaction of the american people by the standard of JF Vas ashington dashington post |