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The Commoner,
JTTLT 10. 1903.
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considering the territory yet to bo explored. But
the unexpected Increase in the production of gold
does not settle the money question. The increased
production of gold that occurred between 1849
and 1850 was much greater in proportion to the
quantity of metallic money then in existence than
the increase that has occurred stnce 1893.
As the Springfield Journal has recently sug
gested, the very fact that gold has at times in
creased so much more rapidly than silver is in
itself proof that it does not for . a reliable mone
tary basis. The bimetallism theory is strength
ened rather than weakened by what has happened
in respect to gold. The increacs in the production
of gold that occurred after 1849 would have dis
turbed the prices of the world much more than it
did had the world been on a gold standard basis.
As it was the increased production of gold spr6ad
itself over the entire quantity of metallic money,
both gold and silver, and made the rise in prices
less violent And, so it is today. The fact that
the nations of the' world are using some four bil
lions of silver, as a part of the money of the
world, tends to make prices more stable than
they would be after the recent increase in the
production of gold If all nations were using gold
exclusively. While it is unreasonable to say that
we have reached the limit of gold production now,
just as it was unreasonable to" say that wo had
reached the limit in the early part of the last de
cade, so it would be unreasonable to say that tho
gold supply would necessarily increase or would
furnish a sufficient volume of metallic money to
enable tho world to abandon the use of silver.
There is no Indication at present that tho use of
both gold and silver as standard money through
out the world would furnish tho world with more
real money than it could well utilize. And tho
producing masses cannot afford to leave the deter
mination of this question to the financiers who
took part in the conspiracy to destroy silver be
fore the new discoveries of gold wero made
took part in the conspiracy at a time when the
dollar was rising in value and prices were being
forced down to tho great detriment of tho masses
and to Ihe great benefit of the money changers.
No one can understand the money question or act
intelligently upon it until he understands the pe
cuniary interest which the money changing and
inoney owning classes have in a rising dollar, and
when he understands the pecuniary Interest of the
men who stand at tho head of tho gold crusade ho
Yill realize that they cannot be trusted with the
management of the nation's finances now any
more than they could be trusted ten years ago.
The same reasons that led them to seek the de
monetization of silver will lead them to limit tho
coinage of gold, or do anything else to advance
their pecuniary interests. The nation's financial
system must be controlled by the people them
selves, and administered in tho interest of the
people.
JJJ
The Fourth at Fairview.
All nature smiled on the Fourth of July and
the celebration at Fairview was a great success.
' The members of the Fairview Jefferson club are
entitled to great credit for the completeness of
the arrangements and the congratulations of those
who attended fully repaid them for the efforts
put forth. The crowd was variously estimated
at from 5,000 to 10,000 and would have been larger
if the street car service had permitted. The tent
used for the speaking was loaned by the Monroe
club of St Joseph, Mo. The stage, was draped
-with American and Cuban flags and ornamented
with the pictures of Washington and Lincoln.
The Jefferson picture was an excellent portrait In
oil on white silk and was painted by Mr. William
Homer Leavitt of Newport, K. L, and presented
to the club.
The following program was presented, Mr.
Bryan presiding:
10:00 a, m. Music, Hagenow's Band.
11:00 a. m. Reminiscences by Pioneers, con
ducted by Hon. J. V." Wolfe and Mr. J. W. Crist
12:00 m. Intermission for Lunch.
Music Hagenow's Band.
1:30 p. m. Invocation, xtev. Harry Hunting
ton.
Song America, Commoner Choir.
Roadine- tho Declaration of Independence.
JWilliam W. Bride, Usq., Washington, D. C.
Address Louis jr. Post, jusq., unicago.
Song The Star Spangled Banner.
Address and Poem Hon. Howard S. Taylor,
licago.
Music Hagenow's Band.
Address Hon. Tom L. Johnson, Cleveland.
Song Columbia, the Gem of the Ocean.
Music Hagenow's Band,
The poem, The American Commons, written
for tho occasion by Mr. Taylor, will bo found
on page 1. The speeches will bo discussed in
tho next issue. It was an old-fasuioncd celebra
tion and everybody felt better for having partici
pated. Tho only change in tVe program from
that printed In former issue was tho substitution
of Mr. Louis F. Post of Chicago for Col. R. S.
Wynne, of Ft. Worth, Tex., who was unavoidably
detained.
JJJ
An Inquiry Answered. .
The following is an answer to an inquiry:
Money, except whore mado . egal tender by
the law of some othor country, passes by welglt
when it leaves its own country. This is true of
gold as well as silver. Tho Mexican silver dollar
is, therefore, only worth in this country tho
sam o as the same weight in bumon. Mexico can
not maintain the parity between gold and silver
at her ratio of 16 1-2 to 1 because her conimerei.il
strength is not sufficient It all depends upon
the demand which tho nation can, by its coinngi
law, create. International bimetallists contend
that all of the nations togethor or soveraj of the
leading ones, could, by joining in free coinage,
create a demand for silver which would maintain
the parity between that metal and gold at the
legal ratio. Independent blmetMlicts believe that
this nation alone could, by the oppnipg of its
mints, create a demand for silver which would bo
sufficient to maintain the parity here and through
out the world. This is a contention which can
not be prov.ed with mathematical certainty ex
cept by experiment But tut samo can bo said of
the opposite contention of the advocates of tno
gold standard. Those, however, who deny the
ability of this nation to maintain the parity, aro
as a rule persons who would not want silver
coined even if they were certain that the parlt
could be maintained. Tho fact teat Mexico can
not maintain the parity docs not disprove our na
tion's ability to maintain thd parity. Our nation
is greater than Mexico, both in population and
commerce, and can do what Mexico cannot do.
JJJ
The Owner Known.
In a recent issue of Tho Commoner attention
was called to certain newspapers whose owner
are unknown, and whose editorial utterances come
out of the dark. It is pleasant to note two con
spicuous exceptions among tho metropolitan pa
pers. Tho New York Journal (and tho samo is
true of the Chicago American and San Francisco
Examiner) Is owned by William Randolph Hearse,
and his personality stands back of the paper.
Those who know him know the paper, and tho
who know tho paper know him. There is no con
cealment of tho owner or of his vlows. Such a
paper naturally has influence because it Is Jdenti--fied
with a. living and known personality. The
same may be said of the New York World. Joseph
Pulitzer Is the owner, and the man responsible
for its utterances. In a recent signed editorial
Mr. Pulitzer takes occasion to define the World'
position. He says:
"The World never for one moment during
the last twenty years considered itself a party
paper. It promised to spread truly democratic
principles and truly democratic Ideas, and It
has done so, and will do so with entire Inde
pendence of bosses, machines, candidates and
platforms, following only the dictates of its
conscience."
In saying that the World spreads truly demo
cratic principles and Ideas, Mr. Pulitzer, of-course,
means to say that it spreads what he regards as
true democratic principles. Those who read the
World know that they are reading the views of
Mr. Pulitzer, and they can give to those views
such weight as they think they deserve. In 1896
Mr. Pulitzer turned his paper over to the repub
lican party to the extent of assisting its candi
dates, and when Mr. Pulitzer gives advice to tho
democratic party it is understood that he wants
to make the democratic party more like the re
publican party than 'it is today. But it Is of
great advantage to the public to be able to look
'through the partition that separates the editorial
room from the business room and see who han
dles the cash and directs the policy.
JJJ
Republicans Have No Plan.
A reader of The Commoner suggests that
the next democratic platform should declare that
"the resolute and persistent demand for free sil
ver coinage made and reiterated in tho national
democratic platforms of 1896 and 1900 has re
sulted in a revival of business prosperity, by com
pelling the money power enthroned in tho re
publican administration to Tcllove tho debtor
class by an enormous isauo of paper money basoJ
upon bond collaterals, thereby restoring prices,
roviving confidence, and rescuing the community
from the rapacious clutch of an attempted gold
monopoly." While there Is a measure of truth
tho argument above stated, the increased coinago
has come very largely from an unexpected en
largement in the production of gold, our natlc)
having secured more thnn ItR proportionate sr
of tho increase, The coinage of silver bullion has
also had its influence. While the increased issuo of
bank notes has given some temporary assistance,
still money issued by tho banks is subject to
withdrawal by the bank and the pooplo are not
protected against n future shrln eo. In thlb part
of tho currency. And bcsldna. bank currency
an expensive currency for the people, because
they have to pny interest, firat, upon the bonus
behind the currency, and then they have to p:y
an interest on the currency when they borrow
it. The Improved Industrial conditions whlcj
have followed an Increase in the currency vlnui
cate tho democratic position, but the republi
cans have no plan for Insuring a permanent sup
ply of money.
rrr
The Price of Silver.
A reader roferrlng to tho article In The Com
moner entitled "Tho Price of bllvcr," asks why,
If tho demand of the government ralBed the price
of silver in 1890, the price of sliver afterwards
fell? And why sllvor went down between 1878
and 1890? The questions are easily answere-J.
Tho price of silver fell between 1878 and 1890
because tho demand created by the government
was not sufficient to take all the silver that was
available for coinago, and tho surplus sllvor
dragged down the market price. The Increased
demand created by the Sherman law In 1890
raised the price of silver Immediately, and It waa
at first thought that this demand would bo suf
ficient to utilize all the silver available for coin
age, but it was found, In a short tlmo, that there
was still a surplus, and this surplus again de
pressed the market price. Under the Bland-Allison
act and the Sherman act, the government pur
chased a certain limited amount of silver; under
free coinage the government offers to convert In
to legal tender money, not a certain limited
amount, but all of the silver presented. This
leaves no surplus to depress the price. If the
production of silver was unlimited it would be Im
possible for the government to fix the price of it
by a coinago law, but gold and silver aro called
precious metals because they are limited In quan
tity, and being limited In quantity the govern
ment by offering a demand greater than tho sup
ply, can fix tho price.
JJJ
Still Harmonizing.
One of Mr. Cleveland's leading newspaper
backer is bound to have peace, even if it must
fight for it. Its latest contribution toward the
restoration of harmony offers tho following
leaves from the olive branch:
"The Cleveland movement has now gono
far enough to make plain that the democratic
party has something to substitute for the
wholesale insanity of Bryanlsm and the fell
reproach of Hlllism; of course the devils that
aro done for and done with, but do not know
it, tear and hiss In their outcoming. Theirs
is an instructive even if repulsive exhibition.
They void tlieir venom at those with whom
they could do nothing and without whom
nothing could be done."
And again:
"The country is ready for a change. The
democratic people are ready to assure it
through Clevelandlsm. But the democratic
people cannot assure it unless they coerco
their machines to their will and discount
their 'organs' which, under the stress of need
or the habit of stupidity, or the despotism
of oligarchies, have neither the vision of bats,
nor tho courage of mice, nor the mentality
of sheep, nor the manners of swine. The
machines, their 'organs,' and sordid or fanat
ical republicanism, are the only foes of Cleve
landlsm, and of such may its enemies always
be!"
These quotations show how easy it is going
to be to restore affection and confidential rela
tionship between the men who have voted tha
democratic ticket in recent elections and the men
who, having helped to lead the republican party
to success, now offer themselves to the democratic
party as expert leaders.
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