Ottawa Daily Eagle du lieu suivant : Ottawa, Kansas • 1

0 ttawa Daily AQLB NO. (Su3 VOL. I. WEDNESDAY, OCTOBER 7, 1896. SILVER AND GOLD.

n. us with a little over one-half as much gold annually as we had prior to 1873. The increase of silver from 1865 to 1875 was only sufficient to add six hundred thousand dollars to the output of precious Would it not be belter for the United States to return to the silver or double standard; our standard as it was before the adoption of the gold standard in 1873, even though gold ENATOR metals, while our population increased during the same period 12 millions and the business of our country more rapidly. And there was no extraordinary supply of silver and gold in the world at that time. So it cannot be true that overproduction of silver, or of both metals, is the cause of the fall in value of silver.

The increase of silver, the world over, is very little more than enough to equal the decrease in gold, and not enough to equal the increased population. We must then look somewhere else for the cause of the decline in prices. In 1876 congress appointed a commission to investigate the cause of falling prices, and especially in silver bullion. It appears from MartniHo 0 should retire for awhile? About ninety-five per cent of the business of our country is among ourselves, and can be done without gold. The demand we could make for silver, by making it the standard of value, and using it for our domestic business, would very materially increase the value of silver.

And as the use of so much silver would diminish the demand, to that extent, for gold; and as to decrease the demand for gold is to diminish its -value, so the value of the two metals are brought nearer together. The law of supply and demand is acknowledged by all parties, and especially urged by leading republicans, who claim that low prices are wholly caused by overproduction. This law of supply and demand holds good when applied to money. They say the reason silver is so low is because of overproduction of silver bullion, and the reason farm produce is so low is because of overproduction. Now let us investigate and reasoti a little.

Prior to 1873 silver bullion was never below par, coin value, although sometimes the quantity of silver compared with gold was more than 30 to 1 and for many years prior to that date silver, when measured by gold, was two or three per cent premium at present ratio of 16 to 1. The querv (Will address the people'J) FRIDAY EVENING, October gat Opera Housed their report that the stagnation of business had already set in, and this was only three years after the adoption of the gold standard by congress. This commission was composed of three senators, three representatives and three professors of political economy. Surely a body of men worthy of some credit, whose report ought to have some weight in the premises The names of that commission and their report as given in the Kansas City Sar, a gold standard organ, are as follows: The silver commission of 1876 consisted of Senators Jones, Bogy Boutwell, Representatives Bland, VVillard and Gibson, Mr. Groesbeck and Prof.

Bovven. It made a long report with these conclusiorts: 1. The demonetization of silver by Germany, the United States and Scandinavia has been the chief cause of the fall in silver since 1870. 2. The commercial depression since 1873 was due to the demonetization of.

and will become chronic if gold remains as the only money. 3. Specie redemption by the United States" is not possible until silver is remonetized. 4. Remonetization by the United States will deter France from wholly giving up silver.

5. Remonetization by the United States will introduce a period of prosperity, greater in proportion as foreigners pour into this country silver in exchange for wheat, cotton, Ladies are especially invitedO now is what occured or happei about the year 1873 that started silver downward so rapidly? Was there some new discovery of silver ore in extraordinary abundance, or there extraordinary efforts about that time in ordinary mines? We who were old enough to remember those days do not remember of any, very great or new discoveries at if. jf time. By investigating history and United States treasury statistics, we find no extra or unusual output of silver. In fact, about that time there was less annual output of silver in the United States, and at the same time we find that the production of gold in the United States had decreased from 65 millions in 1853 to 36 millions in 1873, leaving aid demand.

We have already found that the supply of gold in the United States had fallen off, and, by reference to government statistics, wefind that in 1853 the output of gofd was 65 million dollars, while in 1892 it was only 33 millions, while the supply in other parts of the world is also short. This would indicate that gold would advance in value, and as the supply has fal (Concluded nn fourth pige.) gold, petroleum, etc. The report, I understand, was a unanimous report. There certainly can be no doubt but what that commission did its work faithfully and honestly and made its report conscientiously. Then for the report to be a unanimous report is still more significant and weighty.

Now let us see if reason and circumstances will corroberate this report. We will apply the law of supply.