Savannah morning news. [volume] (Savannah) 1868-1887, 1885-12-09
oNE-METALLIsM OR TWO-METALLIsM
OUR ONLY CHOICE.

The choice before Congress is not between
SILVER recommendation and gold monometal-
lism. Both are inadmlssible. The choice be-
fore Congress is not between bimetalism and
either gold or silver recommendation. The
latter are not admissible. and blmetallisn is
only possible with the cooperation OF other
nations, which is not now to be had. For.
although France holds the same friendly at.
titude, and would be followed by some of her
associates OF the Latin Union, England now.
as in ISIS and 1881, is unwilling TO depart from
her mintage of gold alone INTO coins of un-
limlJed legal tender. and Germany now, az
in 1881, regards the concurrence Of England
in an international bimetallic union, as a
sine qnd non. Such being the facts estab-
lisheu upon abundant testimony, official and
unofficial, gathered by the Department of
State, 1t becomes plain that the choice of
Congress IS only in fact between stopping the
coinage OF silver dollars, or risking by further
coinage the ineg uivalence OF those dollars
with our monetary unit, risking the fall of the
value of 2l5,0O0,000 silver dollars from their
legal domestic rating to their commercial in !
ternational value which "a 20 per cent. less,
and involving such disusc in our domestic
trade of 550,000,000 dollars OF gold coin. as
when gold was elected by paper during the
war.
The only choisc before Congress. therefore
is the choice between one -metallism and two
metalllsm. The silver dollar cannot be kent
in equivalence with the gold dollar II the
eOinage Of silver continues. The gold dollar
cannot he kept in full domestic circulation h
more necess,tates its fall. Doubtless some
may hope that more silver dollars can no
coined, and yet their equivalence with the
monetary unit not be lost. 10 is respectfully
submitted that there is no compensation FOR
that risk, and that a Judgment M accordaut
OF the great business classes who carry on the
exchanges Of the country must be accepted as
q final estimate OF that risk.
The Secretary recommends the ston-
page of the further coinage Of silver as a
remedy for much OF tn existing dis.
turbance 10 the currency. and says II will
not effect prices OF commodities or the
wages OF the worklngman.
cheaper dollar for worklngmen OF the
United states means a poorer dol ar. The
daily wages OF our workingmen and working
women are by far tho largest. by far the most
important, aggregate of wealth 90 be Affected
by the degradation Of the dollar, or Of any
legal tender equivalent OF the dollar All
other aggregates OF wealth, the accumula.
tons OF capitalists, which can only Obtain
profitable use by being turned over daily in
the wages OF workmen and the omplo, ment
OF the captains OF their industry. all other nQ-
gregates OF wealth which remain unemployed
IN the payment OF wages OF the day.
the MONTH the year, are not 20 be COM
pared Ina their sum TO this gigantic sum. II
~ this gigantic sum, the wages OF labor
which L. assniled by every policy that would
make the dollar OF the fathers worth less Than
it II worth In gold Tho debt Of the United
states. large a. 10 10, is "a wart beside TINT
mountain. II by demanding our follow.cit-
1fuf who. dlreCtlv or Indirectly, through the
savings banks, hold those prOinites to paw a
dollar on demand or ln due season. " bv let
ting the silver dollar fail below the gold ,loi.
Jar, Ne could take u third on tho burden of
the public debii much lene than $40 . head