| Show BRYANS explanations bryan has the cunning of a ward politician in framing many of his arguments in defense of bis present position on the silver question he says in effect the increased production of gold in the klondyke Is responsible for our prosperity but that no country should rest its welfare upon so uncertain a thing as the output of gold in the arctic regions he further adds that it the increase ot the circulating medium of exchange is fruitful of prosperity then a greater prosperity will follow the of silver the standard agrees with bryan that the increase in the volume ot money of the country is in great part responsible for our better times and in making this admission we hold to the quantitative tita tive theory just as we did when advocating the election of william J bryan to the presidency but deny that the larger volume of money la to any great extent due to the gold discoveries in the klondike the worlds enlarged supply comes from a more permanent source than the placers of the yukon and of the total supply the Klon dikes output is but nn insignificant fraction gold Is an international money so would be silver it restored to full monetary properties therefore gold whether found in the northwest territory the ural mountains ol 01 ru sla or the district 0 australia the commercial life ot the entire world and each country in proportion to its national alff international energy being no respecter 0 nations the enormous production ot the transvaal in the past three years has had aimont quite as great an influence life as on our commercial though produced in the united states and it Is to the wonderful increase in output in south africa australia russia and the western part of our own country rather than to the uncertain yield 0 the gold fields ot the yukon that this nation to no small degree owes its increased and increasing business activity the gold yield 0 south africa this year will be in the neighborhood of it war does not interfere with mining operations on the rand that is more money than the mines of the world produced in gold and silver during the earlier days of the silver agitation the worlds pro will aggregate in gold or more of the yellow metal than there were gold and silver combined mined a few years ago the total amount of gold and silver coined in the world in 1895 was but more than tie gold output will be this year south africa alone now produces more gold than the mines of the entire world contributed in 1892 and almost as much as the world produced of both gold and silver in 1873 in 1890 when the silver agitation was assuming formidable proportions and some of the best thinkers on economic questions surmised that the nations of the earth could not expect great commercial activity until silver was restored to its former place in tae financial affairs of the world the output of gold from the mines of the united states was and 0 silver ounces or a tota coinage value of gold and silver of at that time the transvaal was almost unknown to the mining world yet today its yield is nearly five times as large as was the yellow metal output ot the united states in 1890 and at that time this country was the greatest gold producer of the world today in south africa we have the equivalent of five such great gold fields as were the great american mining regions in 1890 and yet bryan refers to the increased supply of gold as coming from the klondike we say he has the cunning of a ward politician in explaining away embarrassing conditions but recognizing that a large money supply has contributed to the american prosperity bryan says a still larger supply of money metal would be a good thing bryan is seeking a boom evidently ogden in its day has had a boom so has this entire western country but the people do not want another repetition with all its attending evils that come with the reaction inflated values precede a collapse which precipitates all classes into the hole of despond perhaps that Is what bryan seeks in order to again hold the fort as a calamity howler four years ago had bryan been asked how much greater annual addition to the worlds money supply was needed he undoubtedly would have said just that amount that is being produced by the silver mines now that the gold production alone equals both the gold and silver output at that time he still contends tor silver re does bryan really have any conception of the monetary needs ot commerce or is he simply using silver as a stepping stone to the presidency |
