“Men tell us that there is an overproduction of silver, and that its price had diminished in comparison with gold because of its great relative increase. Such statements are not only misleading, but absolutely false. Figures show that in 1600 we produced 27 tons of silver to 1 ton of gold; in 1700, 34 tons of silver to 1 ton of gold; in 1800, 32 tons of silver to 1 ton of gold; in 1848, 31 tons of silver to 1 ton of gold; while in 1880 the production of silver had declined until we produced 18 tons of silver to 1 ton of gold; and in 1890 but 18 tons of silver to 1 ton of gold; and that, instead of the ratio of coinage being increased above 16 to 1, if relative production of the two metals is to determine the ratio, then the ratio should have been diminished rather than increased, and confirms the fact that merely the denial of mintage upon terms of equality with gold is responsible for all depreciation in the value of silver bullion. “All the silver in the world to-day can be put in a room 66 feet in each dimension, and all the gold can be melted into a cube of 18 or 20 feet. There are to-day less than twenty-five millions of bar silver in all Europe. Mr. St. John, the eminent banker of New York, had stated that there was not over five millions of silver that could be made available to send to our mints. Begin to coin silver to the full capacity of our mints, and we would have to coin it for twenty years before giving to each inhabitant a per capita circulation that France, the most prosperous nation in the world to-day, possesses. “The struggle to-day is between the debtor and creditor classes. With one-half the world’s money of final account destroyed, the creditor can demand twice as much of the products of your field, your shop, and your enterprise and labor for his dues. In this struggle between debtor and creditor the latter has taken undue advantage and by legislation doubled and trebled the volume of the debt. For example, suppose you had given a note to your neighbor promising to pay, one year after date, 1,500 bushels of wheat. You thresh the grain, measure it into the bin, and notify your creditor that the wheat is at his disposal. He goes to the granary, sacks the wheat, and then brings up your note and states, ‘I have taken 500 bushels, which I have endorsed on your note. I will call on you for the balance when next year’s crop is harvested.’ You say, ‘Why did you not take all the wheat and let me make full payment?’ The note-holder answers, ‘I did take all the wheat, and there were only 500 bushels in the bin instead of 1,500.’