THE AMERICAN. HON. JODN L. WEBSTER. He Delivered a Second Speech on the Silver Question Last Year. It Du liefer the TrBSXIl!wIpii Commercial Centre, at Omaha, Sovtmbrr 2Mb, lsiS. The report of the. majority of the committee ii baited on the assumption, one that runt through every argument in favor of free coinage of allver, that there U an appreciation in gold which increase! the wealth of the creditor and diminishes the wealth of the debtor. The form which the proposi tion has assumed, or rather the words in which it Is clothed, are auch as to appeal to the prejudices of the poor Man m wA iaIa KIa anlmnaltv n ft Vila IUAU BUM QAvl W Ml utuiuvivj waua hatred against the .man of wealth, an argument which may be effective but not the most highly creditable. I have not been able to convince myself that there is any appreciation in the value of gold. I am not skilled in reasoning upon this question theo retically find can only deal with it as I find facts pointing the way to truth. For there to be an appreciation in the value of gold it seems to me as fun damental either that there should be a dlmunitlon in the quality of the metal or the demands for the use of the metal should be increasing In a greater ratio than does its production. We have not the time to go over the history of the production of gold and the produc tion of silver during any great period of time. The height of the silver agitation .has been since 1890, and during these eame years the country has gone through the most direful distress. Silver agitation and hard times seem as much linked together as the Siamese twins. If there is any possible condi tion of things which should have pro duced an appreciation in gold, these twin sisters, financial depression and free silver agitation most likely would have produced it. Let us look at a few facts, however, existing during the last five years. Secretary Carlisle stated in his speech before the Memphis convention that the gold product of the Uaited States in 1890 was 1118,848,000. I do no know what means of information the secre tary had to justify him in making the statement, but I assume that he would not make a statement which he did not believe to be true, and I further assume that with the means at his command he resorted ' to the most trustworthy sources to obtain the most reliable information ' A few days ago I read In the World- Jltrald the statement that the gold product of the United States in 1894 was $180,626,100. As this paper is edited by my friend Bryan, the cham pfon of free silver, and the statement purports to be taken from the report of the director of the mints, I must as sume as to this statement that it also is correct. An instant's comparison of these two statements shows that during the four years when the business of this country was on the down grade and when there existed the least demand for money, that the gold product had increased more than 50 per cent, or $61,777,100, and certainly no man would contend that the business of this country had increased in any such like ratio during those four years. There is nothing here to indicate an appreciation in gold, and according to the rule of sup ply and demand, there should have been a depreciation. A momentary glance at this question during a century past. Those who pretend to know most upon this ques tion, those who by reason of their po sition and public duties ought to know the truth of these things, say that the per capita gold production in 1895 was greater than the per capita production of both gold and silver one hundred years ago. If this be true, there is cer tainly nothing in this fact to indicate an appreciation in the value of gold, but it would rather tend to indicate a depreciation in the value of gold in the ratio which the product of silver stands to the product of gold during those four years. I know that they tell us that tha price of wheat has gone down 50 per cent, and further the purchasing power of gold has been enhanced 100 per cent. That statement proves noth ing because it does not prove that the value of cold has had anything what ever to do with the depreciation in value of the wheat product. If you want to point to a more cer tain criterion touching the value of money, point to the day's labor of the mechanic and look to the purchasing power of the wages which he received. Why, sirs, the senate committee re ported that during the last thirty years the wages of the laborers of this country had increased 34 per cent. I find by the compilation of the census reports of 1890 that during ten years the amount of wages of the laborers of this country had increased 40 per cent. Today the tolling millions of this country receive the higher wages and ptvable in money equivalent in value to the gold dollar. The result is that the purchasing power of the commenta tion received by the people who labor, under the present financial condition of affairs 1 greater than during any p-evlou period of this country, when my free silver friend contend that we had the free and unlimited coinage of bnb metal. We who are in favor of the minority report of the committee are the true fciends of the laboring man in this country, and the free silver advocates are their enemies, in that they would pay them the same per diem In a depreciated coin. It is not, however, alone the amount of gold in circulation in the country that must determine whether it had depreciated in value, but it is the amount of the entire circulating med ium maintained on a parity with gold, whether that medium be gold, silver or paper. When theoretically you speak of the question of supply and de mand, we can have but one criterion to measure that supply and demand by, which it the entire amount of the cir culating money in the country. The amount of the circulating money has been constantly increasing in this country from the time when my friends talked of the demonetization of silver down to 1895. While in 1890 the en tire amount of the circulating medium was $973,000,000, in 1895 the amount of circulating medium was $1,804,000,000. Why, mark you, here wu an increase in fifteen years of nearly 100 per cent. These startling facts are a complete answer to the unwarranted assertion of my free silver friends that the de monetization of silver in 1873 struck down and wiped out of existence one half the money of the country. The advocates of the free and un limited coinage of silver at the present ratio, with uniformity assert that the financial disasters of the last three years are the result of the demonetiza tion of silver. I cannot understand how any man who reflects can have the courage to make such a statement. The act to which they refer, as de monetization of silver, was passed In 1873. If silver was demonetized, It was demonetized then, and there; if that act struck down silver, and destroyed one-half of the money of the country and brought about the marvelous ap preciation of gold, such events took place more than twenty-two years ago. If ruin and disaster and destruction were the natural and necessary out growth of the act of 1373, they would have followed fast after the enactment of the law which should have brought them into existence. The history of this country from 1873 to 1891 stands as proof that none of the present existing evils were the out growth of the act of 1873. The great est era of prosperity this country has ever known from the days of George Washington down to Grover Cleveland were from 1878 to 1891. During those years there were better prices, better wages, more factories running, more cities being built, more farms being opened up, and more enterprises de veloped than during any previous like period of time in our country's history. Another test generally resorted to by all thinking men by which to measure the prosp3rlty of the Nation, Is Its foreign commerce; that is some thing which ought to appeal to this congress, as both are of a commercial nature. In 1892 the foreign trade of the United States reached the enor mous sum of $1,857,680,693. That was under the closing year of the Republi can administration of Benjamin Har rison, and under the fostering care of the McKlnley tariff law the like of which had never been seen before, and has not been experienced since. Those who undertake to trace the hard times of the last three years to the money question, ought to opan their eyes wide enough to see that the pernicious effect of the tariff act have had much to do with bringing about these frightful results. Why, within three years it has redaced the foreign trade of this country $306,356,000. Under the results of that free trade policy, American exports decreased in 1893, $143,600,000, and In 1894 $167,000, 000, and from 1894 to 1895, $49,000,000. The agriculturist says, however, the price of the agricultural products have fallen as a result of the demone tization of silver. I tell him that these reductions in prices have taken place since the agitation of the free trade policy and after the silver question has taken possession of the country. Ac cording to the reports of the secretary of the treasury, the decrease In exports of agricultural products in 1895 over that of 1894 was $53,727,552; while as a reverse to the proposition the increased imports form foreign manufactured goods from 1894 to 1895 was $103,954, 000. If your complaint is that our money Is drifting away to Europe, let con gress remodel the tariff system to something like what it as before 1892, and then there will be saved to us this $108,954,000, which Is used in settling the accounts with Europe on the basis of the pound sterling In Eng land. The so-called demonetization of sil ver in the various civilized countries of the world has not destroyed the use of silver as money. From the last re port of the director of the mint, and I take this, too, from the Omaha JI'crM- lL rahl of November ., the amount of gold in the world U $1.06, Xa,ih0, the amount of full legal tender silver $, 419,300,0)), the amount of subsidiary liver coin is $63l,i0,000, thus making the total silver money of the world equal to the total gold money of the world. This leads us to make the suggestion, that, whereas, the total amount of the cola value of the silver money in the world l equal to the total coin value of the gold money of the world, bow comes It that the silver standard coun tries are unable to maintain their sil ver on a parity with gold? Being equal In quantity they would be equal In purchasing power, were it not for the fact tbat the over-abundant pro duction of silver compared to the an nual production of gold has depreciated the value of the silver metal, and all the powers of earth cannot keep the increased quantity of silver on a parity with gold in the business transactions of the world. In reading tbe various speeches and editorials of my silver f rleods, I have found such a diversity of statements touching the product of gold and silver that I have ceme nearly to the conclu sion that they are unreliable and un safe, if not dangerous, guides In the study of this question. I want to go to the most reliable source, and I know no source on which an American can rely with greater certainty than the report of the direc tor of the American mints. He re ports the gold product of the United States for 1895 in coin value to be $30,500,000; he reports the product of silver to be 49,500,000 ounces of a com mercial value of $31,422,000, but of a coined value under the present ratio of sixteen to one $64,000,000. It will thus be seen that the produc tion of silver according to Its coin value, Is annually sixty per cent. greater than the production of gold, or an excess of $24,500,00) in one year. As a fair minded man I put to you the proposition, could you possibly con' tlnue the free and unlimited coinage of both metals with an annual production of silver sixty per cent, greater than the production of gold, and hope to maintain a parity of the two metals? From the same source look to the product of the gold and silver In the world at large. The gold product of the world In 1394 coin value was $180, 626,100. The commercial value of the world's product of silver was $106,522, 900, and its coin value $216,892,200. From this statement you are met with two startling propositions: First, the free and unlimited coinage of Bllver on the theory that the parity of the metals is to be maintained, would be to give to the owners of the silver bullion $110,369,300. Who is asked to give it? The nation. What is the equivalent? Nothing. What benefit would It be to the agriculturist or the laborer? None whatsoever. Second, by comparison of tbe production of the two metals, it will be observed that the coin value of sliver annually exceeds that of gold, $36,166,100. Can the most conserva tive man even hope to throw open the mints of America to all the silver of the world regardless of the action of any other nation, and thus coin and throw into circulation $36,166,100 in excess of the entire world's product of gold annually, and hope to maintain the parity of the two metals for a sin gle hour? Why, If such a law would be passed this afternoon, before the sun should go down tomorrow this country would be on the verge of such financial distress and ruin as no words of mine or yours could fitly describe. I do not believe any sensible man would be in favor of the free and un limited coinage of silver under exist ing conditions if he did not believe It would increase the quantity of the cir culating medium. My apprehension Is that the free and unlimited coinage of silver under present existing condt tions would either destroy or drive out of use more than one-half the present money of the country, and if persisted in you men who are listening to me would be in your graves before the country would go back to the money standard and money circulation as good as we have today. It was lately stated by the secretary of the treasury in a public speech that the money in circulation in this coun try was as follows: Gold $631,000,000 ULited States Notes 346,000,000 Treasury Notes 1890 148,000,000 National Bank Notes 211,000,000 Subsidiary Silver 76,000,000 My first proposition is that the free and unlimited coinage of silver would drive the $631,030,000 of gold out of circulation. I have said enough here tofore by way of argument to show that it would be impossible to maintain a parity of the two metals by reason of the over-abundance of the silver pro duction, but aside from that I appeal to history. History is a wiser teacher than theorists. What country in the world today maintains the free and un limited coinage of the two metals and has gold in circulation? None. What country in the world ever maintained gold in circulation, with the free and unlimited coinag3 of both metals, ex cept when the commercial value of the two metal were at par as a commodity? None. We know further that from the time the free silver agitation tiegan la this country a few year ago, there has bwn a dipoition is gather and hoard gold. Then began a reduction of the pay ment of tariff duties In gold. Then beeaa tbe presentation of American securities by foreign holders for their redemption In gjld. Since then the public treasury ha been constantly drained of It gold, aud this thing went on, until at lat the verge of the cyclone male it appearance which was to overwhelm and destroy the financial credit of this country, and bad It not been fo the strong person ality of the President of the United Slate, who took it upon himself at great cost and great risk, to sell Ameri can bonds to replenish the treasury, this country would already have been upon a silver hauls and the 1631,000,000 gold have gone out of circulation. But that 1 not all of the bavoo to be wrought. Tbe currency of the coun try, to wit: the $346,000,000 United Slates notes, the $148,006 000 treasury notes of 18'J0; and the $211,000,000 na tional bank notes, aggregating $705, OuO.000 have their purchasing power pased upon the go d valuation. You sweep the gold out of circulation and supply it place with degenerated sil ver, and In like measure you reduce the purchasing power of the $705,000, 000 of circulating currency, destroying the purchasing power of that currency to the extent of $350,000,000. The total destruction of the purchasing power of the money of the country by this process would be about $981,000, 000 as the natural, legitimate and log ical result of the super-abundant coin age of the depreciated silver of the world. Some of my free silver friends prac tically admit the force of this logic, admit the country should pass to the liver basis, and to silver monometal Ism. They accept the logical concla slons of the situation, but have they ever counted tbe cost of the dlstructlon of the money of the people and the slow process by which it 1 to be rein stated by the free coinage of sliver? Why, acoordlng to the reports of the director of the mints the annual coin ing capacity of the mints of the United States is but $40,000,000 a year. Why, It would take sixteen yean to coin enough silver to take the place of gold alone which we would drive out of circulation, and It would take ten years more to coin enough to take the place of the destroyed value of the currency, thus some twenty-six years would have gene by before my free coinage friends can hope to restore the money of the country to the present existing amount. I know my f rea silver friends have a common answer to substantial data and facts presented by the people who would maintain the honor and finan cial integrity of our country, and that answer consists generally in bombastic declamation containing such epithets and allusions an "Gold Bugs" and "plutocrats" and "What care we for England." "We gldn't ask England for the privilege of declaring for American Independence, why need we ask England now to declare our inde pendence on the money question." These star spangled b inner argu ments may satisfy free silver men, but In the face of hlstorio and stubborn facts they have not the weight of the summer zephyr. The United States to maintain its supremacy among the commercial nations of the world must have as good money and as good credit as its commercial rivals. With an in ferior money we oould neither punish England nor enrich ourselves, and those who entertain such a thought are harboring one of the greatest de luslons of the age. Secretary Carlisle In his speech at Bowling Green, Ky., on the 25th of May, 1895, stated five propositions that are worthy of the consideration of every thinking man on this question. Permit me to read them: First That there is not a free coin age country in the world today that is not on a silver basis. Second That there Is not a gold standard country in the world today that does not use silver as money along with gold. Third That there is not a silver- standard country in the world today that uses any gold as money along with silver. Fourth That there Is not a silver standard country in the world today that has more than one-third as much money In circulation per capita as the United States have; and Fifth That there is not a silver standard country in the world today where the laboring man receives fair pay for his day's work. Mr. Carlisle stated that he was ready to maintain these propositions anywhere; that he stated them delib erately after a careful examination of the monetary statistics of the commer cial and Industrial systems of the coun tries. So far as I have observed no man has undertaken to answer these propositions. I personally do not be lieve that any free silver man can answer these propositions. Until they are answered it is idle for free silver people to say that with a free and un limited coinage of sliver at the ratio of sixteen to one that we ran either main tain the parity of the two metil or that we can have gold and silver in circulation, or to maintain that with free silver we can either bave rcoro money or a better monetary system than we now bave. MONASTERY SCANDALS. Ctinttauod from pi 1. mlMioner' conclusion. Dr. Cox said: "We must above all thing dlmlnUh the wealth of the monasteries, for so long a they do not imitate the poverty of (.'hrUt the people will not follow the teaching of the clergy. 1 have no doubt," he added with Irony, "that the binbop, priest and monk will readily free themselves from the heavy burden of wealth of every kind, which render tbe fulllllmuut of their spiritual dutle lmpowlble." The ambassador of Ven loetald: "The income of the monas teries amount to 500,000 ducats, while that of all the nobility of England Is only 380,000. The treasure which the convent derive from the nation ought no longer to be useles to the nation. In February, 1536, thi matter was laid before parliament. It was Thomas Cromwell whoso heavy band struck these receptacle of impurity, who was called "the hammer of the monk," who proposed thla great reform. He laid on the table of the commons that famous Black Book, la which were in crlbed tbe misdeeds of the rellglout orders, and desired that It should be read to tbe bouse, lbit book is no longer in existence; it was destroyed la the reign of the bloody Queon Mary, by those who bad an Interest in it sup pression. But It was read before the members of the commons, t e., the hor rlble confessions of the monks and nun, lgncd with their own hand. Tbe of' feet was extraordinary, for men had had no idea of such abominable scan dal (Latimer's Sermon). The house was horror-stricken, and "Down with them, down with them!" was shouted on every side. Cromwell restricted himself for the moment to the secular ization of three hundred and seventy' six cloisters. "Those monasteilns," said Cromwell, "being the dishonor of religion, and all the attempts, repeated through more than two centuries, hav ing shown that their reformation Is lm possible, the king propose to the lords and commons, and tnese agree, that the possessions of the said houses shall ceafce to be wasted for the maintenance of sin, and shall be converted to better uses." There wa Immediately a great com motion throughout England. Some re jolced and some wept. About 10,000 monks and nuns were secularized on the 4th of February, 1530. This added to the crown a yearly rental of 32,000 sterling, besides the Immediate receipt of one hundred thousand pounds stor ling, In silver, jewels, and other ar tides. (Such an act would make Mr Cleveland's bonds unnecessary, and would pay Uncle Sam's debts.) Some of the convents were used as stables for his majesty's horses, others for the comfort of the sick, and blind, and crippled. Lord Cromwell was neither a Demo crat nor a Republican. The abbot of Peterborough endeavored to bribe him and said: "If you will save our house, I will give the king two million five hundred marks, and yourself three hun drod pounds sterling," Collyer' Rec II, 156 159. But neither the eloquence of the monks, their prayers, their promises, nor their money could move that great Englishman. Some abbots revolted against the king, but Cromwell forced them soon to submit. The monks received a pen slon; those who desired to continue in their religious life were sent to the larger monasteries. Many were dls missed with a few shillings for their journey and a new gowa. Fuller Church History, 311. "Ae for you," the com missloners said to the young monks under twenty-five, "you must earn a living by the work of your hands." The same rule was applied to the nuns England found in this energetic act one of the sources of her greatness, in stead of the misfortunes with which she was threatened. When greedy eyes began to covet the revenues of Cambridge and Oxford, Henry said: "I will not permit the wolves around me to fall upon the universities." And the Incomes of a few convents were em ployed for the foundations of new schools. An eloquent voice said to the king: "O most invisible prince, great is the work that you have begun. Christ has laid the foundation; the apostles raised the building. But bar ren weeds had overrun It. Now you have rejected the pops, and banished the race of monks. We pray that those houses of cenobites should be hold In their academic halls a gener ous youth, eager to be taught, and learned men to teach them. Let the light which has been restored to us spread its rays through all the universe and kindle other torches so that dark ness should flee all over the world be fore the dawn of a new day." This wealth served to fortify Eng land. The kingdom took a step In the career of power. By the reformation of the convents the moral force of the nation gained still more than the ma terial force; and England (U. S. A., too), freed from subjection to foreign power, could oppose her enemies with a (word of might and a front of Iron And Uncle Stm't boy can do the anet To thla great epoch we must acrlbe tbe origin of those mercantile enter prise, of tboe long and distant vcy- age which were to be one day the tlrength of Great Britain, for Henry VIII. was truly the father of Elizabeth. The great transformation extended oon It Influence beyond the western hore of Great Britain. Spain and Italy alone rexalned alniowt motion Ions In the mldxt of their ancient dark new. Bat now the same Roman tyranny will darken and chain fair Colurabial Thorufore, awake, awake, O cans of liberty! If every loyal young man would fight for tbe principle of the A A., the new American party, we ould write on the tombstone of the Roman hierarchy, A. D. 1900, a fol lows: "(Juum, A. D. lHK PioniijUi Jto. nuini Antifhrititi TyranniikAhroftfit ut ejus tuirtitiniiibua (Vtlreo .Sancta Chrinti lleliijio llicin nmm purilatcm Ecclejiin (civitax) in meliorem urdinrm Si'ujHlari lribnrjicio trpomtaEt nimui puUati$ fugittiiue tiOHtibunUrln ipt in sicim lil'rtiiLtmNim tint ianijni mt'rac ulo rtntituta fturH8nolu J'opuurtt (leneitmU Monumrntum tin itrpttua4 rtutn fieri At'iut Juk Ux rriyi cuwtt Qm suwi trga lkum grotiUidinemAd postrro Urtukim fact ret." In the year 1900, the tyranny of the Roman anti- Christ having been overthrown, and it superstitions abolished, tbe Independ ence having boon restored, In It truth and purity, and the state of our union sot In good order, by a signal favor of God the enemy having been repelled and put to flight, and the cltle by a striking mlraolo restored to liberty, the congress and tbe people of the United States have erected and set up this monument as a perpetual memorial to attest to future ages their gratitude to God." Erected and Inscribed aftsr Geneva'! Independence from the Roman tyranny and renewed after Columbia's Inde pendence from the Roman tyranny by the United New American Party. What Masons Nay. The Masonic Record thinks too much notice Is taken of Rome's enmity to Masonry. Nevertheless, It is always prudent to be alert against an avowed enemy. This Is especially true when that enemy would destroy civil and re llglous liberty whenever It exists. Voice of Ma.vmri. Every masonic body In the United States ought to know, and cause it to be understood by their members, that the sanguinary Captain-General of Cuba has ordered all Masonlo lodges closed under severe- penalty. We pre sume he Is acting from Instructions from the Roman pope, and nothing would please the old man better than another "auto da fe," with Masons burned at the stake as of old. As the leader of the Cuban patriots Is a 33 s Mason we ought all to at least pray for the speedy recognition of tbe Republlo and the downfall of misrule, bigotry and superstition in that unhappy island. Kansas Freeman. I have been taught as a" Mason that my first duty is to God, the second to my country. In performance of that duty I call your attention' to the fact that the Roman pontiff, who, as well as his predecessors, have for centuries tried to crush our beloved fraternity, has now placed under the papal ban three distinctly American benevolent orders, which would indicate that the pope feels assured that he has suffic ient control of the government of this country to dictate the conduct of its people. As Masons It becomes our duty to the country to -carefully watch and do all In our power to prevent this semi-barbarous potentate from obtain ing control of our country's govern ment and thereby settlng'Iclvlllzatlon back to the days of the Inquisition. 2. A Boyle of Nevada. But They Were "Insulted" Just the Same. The following letter from "Father" Wyman appeared In the Examiner, the organ of Rime In San Francisco, on June 13th, but the bluff did not work and the only feature of the Fourth of July parade which raised hiss or cheer was the natty Little Red School-houee escorted by the redoubtable--. Junior Order which was out In force and fea ture of the procession: The following letter has been re ceived by the president of the Fourth of July committee: Sacramento, Ual., June 17, 1396. Mr. S. L. Lent: Djar Sir: I was very glad to see your letter In this morning's Examiner. My object In giving a copy of my letter to your committee to the press was you might be induced thereby to make a public declaration- as to whether or not you intend to allow in the proces sion displays which are offensive to Catholics, such, for instance, as that of "The Little Red School-house." The event will show whether or not you keep to the promise which you have made In your letter to me. There Is a general impression among priests and Catholics that the A. P. A. will be allowed to insult us publicly on that day. If the publication of my letter prevents any such demonstrations I shall be most thankful. Sincerely yours, H. H. Wyman, C. S. P.