The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1877-10-25
RESUMPTION AND REMONETIZA-
TION OF SILVER.

To construct platforms so as to catch
votes rather than to reflect opinions is
species of craft praeticed in political
conventions. As they are designed to
secure the wavering and but seldom to
set forth principles, cunning is more
requisite than craftsmanship in their
construction. In their preparation no
heed is given to the old war horses
whom the name of party is sufficient to
hold in line. The banner which they
have followed in victory and in defeat
may be unfurled in any cause and it will
still wave over them. If the princi-
pies enunciated outrage their opinions,
it may cause them to grieve but never to
desert. Those +. cts were well under
stood at the Democratic convention at
Fond du Lac when the financial plank
which disgraces that platform was in
serted There can be no doubt that the
Democrats sacrificed principle to expe-
diency when they adopted that platform
as basis on which to conduct the cam
paign. Their demand for the repeal of
the resumption act and for the remone-
tization of silver is in direct conflict with
the demand of the business interests of
the country for stable medium of ex-
change. No standard of value is invar-
able. Gold comes the nearest to being so
as it is never found in such quantities
as to materially affect its value. Search
ty as well as superabundance units
metal as a standard. The essential as
to quality, is that the supply and the
demand must be SO proportional as to
give stability to the value of the metal
No other metal proposes this requisite in
an equal degree with gold; hence its
inherent fitness as a standard. Sill
Yer being more plentiful, and conse-
quently less valuable, metal is put to
number of uses to which gold is not and
in consequence is more subject to fuc-
tuation and less fitted as a standard of
value. But there is more wisdom in
demonstrating gold, the most natural and
rational standard, when silver is remon
etized than in allowing double STAN
dard and thus produce endless confus-
sion and interminable changes to pre-
serve the equality of value. To illus
trate, suppose the coin value of the gold
dollar and the silver dollar to be so
equally adjusted, that either will pur-
chase an equal amount of the other
metal in bullion. Suppose that after
this equality of value is determined,
the quantity of silver in the market
through the discovery of rich yielding
mines is increased double. Of course
the increased demand and the additional
uses to which it will be put will prevent
its decrease in value to be proportionate
to its increase in quantity. But its
value will decrease quite sensibly, say,
one Fourth. This silver dollar being
worth now in gold but hree-fourths of
dollar, has, by virtue of the govern
ment stamp, purchasing power equal
to the lntrinsicaily more valuable metal,
gold. Of course the result is that gold
ed into bullion and practically we have
but one standard remaining. The i'm
possibility of preserving a double stand
ard is obvious when we consider the
improbability of the supply of any two
metals being uniform.
But the declaration against resump-
ton act is III absurdity the fellow of the
RECOMMENDATION of silver. During the
long time that gold has been driven out
of circulation, the fiuctuation in the
value of greenbacks been frequently, in
a short period of time, much more than
the difference between their present
value and dollar in gold, without ma
terial injury to the business interests OF
the country.