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The Pamphlet Collection of Sir Robert Stout: Volume 69

The Silver-Men of America

The Silver-Men of America

know what was understood in King Solomon's time—that immense quantities of available silver cause its purchasing power to diminish. Hence they have set all their ingenuity to work, aided by all the political influence they can command by bribery and other means, to persuade the public into the belief that, in spite of the vast quantity of silver that is now being raised in excess of its economic uses, that it is possible to maintain for it the same purchasing power, which means, from their standpoint, the same selling price that it formerly possessed. To this end, the general taxpayer of the United States pays for all the labor of the persons engaged in silver-mining,—in fabricating the machinery engaged therein, down to the last person who earns his living from the industry of silver for coinage, instead of these hosts of workers being engaged in the production of some useful article of food or commerce. But these silver-men conjure up for justification the immensely overissued paper currency of Argentina. The over-value these men put upon their silver stands on no better basis than the inflated price put upon copper by the French syndicate or the over-issued face value of the Argentine paper. The worth of gold, silver, copper, paper, as money depends solely on its total volume, and on the rapidity with which it circulates.