The eagle., June 10, 1896, Image 1

About The eagle. (Silver City, N.M.) 1894-1???

Image provided by: University of New Mexico

                
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VOI,. 2, NO. 4-2.
SHAKE CITY, X. M., WEDNESDAY, JINK 10. Utile,
I'lilCK 5 I'KNTS
HARVEY SPEAKS IN OHIO.
The Author of "Coin" Talks on
Silver.
Ki'KidentH of Ohio Unten to Sound Argu
ments on the Financial
(JiiphUoii,
W. II. Harvey, the well-known advo
cate of free coinage, is engaged in an
active campaign in favor of the white
metal. Recently ho has lieen speaking
throughout the utate of Ohio, w here his
utterances have attracted the attention
of iKjth the press and people.
From one of his addresses, delivered
at (reencastle not long ago, we take the
following solid statements of facts:
Mr. lla;vey says:
Individual eelttshiiess crystallized into
law has Wen the causa of the downfall
of all república. When the people in a
republic, by example and training, be
come worshipers of Mammon, all lawa
are made and construed for the accumu
lation and protection of property inter
ests, and the principles of humanity are
neglected.
We are living under laws that are
making their impress upon onr civiliza
tion; that, if further permitted, will
result as fatally to our republic and to
human happiness as have ihefendall was
of Europe and any that haveoverthrow n
the republics of the past.
Chief among our laws affecting our
civilization, defended by sel fish' inter
ests, is our financial laws, and that
brings me to the subject uppermost in
the minds of the American people.
The vital principal in bimetallism is
the right to use either metal. If pro
duction grow less.on one, we have the
other, and the two together furnish a
more stable supply of money than either
alone can furnish.
Under free coinage of bolli metals,
silver and gold are in competition with
each other to Biipply the demand for
money.
The right to use only one melal as
primary money, as is the law now, is
monometallism. It is like a man with
one arm, one leg or one lung. Mono
metallism is a one-lung monetary sys
tem. Hiinelallism is the right to use either
or both of two metals. Only one may
be in use at a time, or partially one and
mostly the other. If one grows scarce,
or is cornered by speculators, we may
use the other.
Under this law, with us, .,7i
graiiu of pure silver were put in
a d IUr, - and 1-5 grains of pure
gold were put in a doling l(i gold dollars
to weigh as much as one silver dollar.
That is what lfi lo 1 means.
In 187:1 the law was changed, and
gold only was made primary money.
The mints were left open to the free coin
age of gold, but closed as lo the free
coinage of silver. An unlimited de
mand for gold for use as money was left
in operation. The unlimited coinage
of silver was stopped.
With all the principals of hi metal
lism destroyed, with silver thereafter
used as a token of credit money, like
our paper money, all resting on gold,
silver began to decline in value as
measured in gold, the only primary
nianey, and in twenty-two years it has
declined 50 per cent, or, rather, gold,
under the demand for it, has appreci
ated. ,
All property i)pt supported by trust
causea, or increased demand, fell with
silver as expressed in dollars. As
measured by exchangeable value with
each other, or with silver, they IihiI not
declined. They have only declined as
measured in dollars.
With falling prices the people have
lieen inioverif-hcd. Taxes have not
reduced.
They say that to remonetixe silver
will run gold out of the country, tiold
is not in circula! inn now. It is cor
nered. They Ray silver wr demonetized on
account of over-prod net ion. At the
time silver was demonetized, the world
was producing 80 cents in silver lo one
dollar in gold ; less filycr than gold.
The world is now in 1 KÍKV- producing
about (15 cents' worth of silver to one
dollar of gold.
They say it costs lesa to produce ail ver i
now than formerly, and that makes it
cheaper. When a man makes that
statement to you, put this (iiestinn to
him: Does U not also cot equally less
to produce gold?
They aay; "Admitting lower prices,
farmers can' buy everything as cheap as
they have to sell their prbH'rty for, so
who's hurt?', I
They can't go and pay their taxes'
with the same'nnmher of bnhels of I
wheat that they did in 18":t. Nor can
you pay your debts.
They tell us that the increased pro
duction of gold is going to supply so
much gold that it will be cheap and
wheat will go back to $1.31) per bm hel.
The arts anil sciences, including den
tistry and other uses, consume the an
nual supply of gold for monetary pur
poses. They say the free coinage of silwr is
in the interest of the silver bullion
owners. Ask them, if this is true, in
whose interest is the free coinage of
gold?
They say we cannot gait alone.
l)o you want to go it alone on gold
any longer? There is nothing to fear
by the remoneti.ation of silver. When
a great government like the United
States throws its mints onen to silver
and says to the world : "We have es
tablished bimetallism, and any one can
bring 171 '4 grains of silver or 2X22
grains of gold to our mints and coin
them respectfully into dollars," then no
one is going lo take less than a dollar
for that quantity of silver.
Hut, you say, people will rush lo the
treasury to draw gold on credit money
and will w ipe out the treasury in a dav
of its gold, and that would cause a
panic. There, loo, there is protection.
Those notes are payable in coin, mil in
gold.
They say we cannot Iranstract busi
ness with the commercial nations of
Europe unless we use the same metal
for our primary money as they do.
That is a fallacy. Gold does not pass
between nations by the stamp of the
goverment Umui it, but by weight.
We settle our balances with Europe
primarily with our exxrts, und if we
do not ship them enough of our merch-
amlise and crops to pay them then we
pay them gold at so much an ounce.
It is not treated as money. There is
no such thing as international money.
Reverse this aelllsh legislation and our
people will again enjoy prosjieriiy.
In the hour of our sorest need, let it
be said that Ohio rallied under the ban
ner of humanity lirm in a resolve lo sus
tain! free institutions!
Subicrilie for Tun E.uu:-Only $2.00
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