The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-09

debtor and creditor, and In deferred pay
ments. would be tolerated nowhere outside
OF robbers den. In view of the glaring
facts, which no one preteDds TO deny. OF
the change in the money standard through
the increase of the value of the gold as the
direct and necessary consequence OF de-
monetizing silver and restricting the
money function to gold alone. what else
than foolish homage TO knavery is the baD-
bic ABOUT honest money and short dol
lars which constitutes so large q part of
the stock answers to the demand for tree
bimetallic coinagef
Nothing could be more absurd or ridic-
ulous than TO claim that O shapeless lump
of silver. to which monetary use Is denied.
measures the value of silver coins which
have monetary use added to whatever other
silver hiss been would act in the same
way. If, since 1878. both metals had been
accessible for money uses. as for indefinite
ages before. the annual addition TO the
metallic stock of money for the world
would have been somewhat less than from
1S49 to 1873. but would probably have been
sufficient TO have maintained reasonable
stability in the value of standard money.
So. now, while 1t is IS certain as that time
Viii continue that. under existing condi-
purposes. gold will continue to increase in
value, and prices measured by gold con-
tInue to fall, 1t Is reasonably certain that
the supply of both metals will be sufficient
to maintain fairly stable relations between
money and commodities and thus secure TO
the industrial world what it has sorely
lacked since 1873.
1.-The bugaboo of foreign silver coming
here no longer alarms intelligent men.
Under free coinage SILVER would be sl.29
with open mints. would be SL33 in the
states of the Latin Union. which Is the
value of all the coined silver of Europe.
The requirements of England and of tho
continent for silver to pay balances to tn the
whether profit of the difference between
95 cents and Sl.3S were made on the silver
sent there, or only the difference between
SL29 and Sl.3S. India absorbed quite as
much silver in the years before the fall of
tinue to absorb both gold and silver. But
whether our silver goes abroad at 90
cents or Si.29 is quite material to
thie ountry, not only from the direct loss
er loss sustained on the price of wheat aud
cotton, and tne food products which have
and will follow closely the rise and fall of
silver bullion. for reasons so often ex-
planned. If wheat at the present time Is
less influenced by the price of silver bullion
feature of the wheat crop in Europe. If
the value of silver here should fall to 30
cents an ounce. as 1T probably would IL de-
monet.zed. as gold monometallists would
have it, while it's purchasing power among
two-thirds of the population of the globe
continues at from sl.33 TO Sl.3s. then the
production of silver in this country should
be made q crime, as it's continual produc-
tion and sale here at the low price, while
used In other countries at the high price.
would be destructive of our agricultural
and manufacturing interests.
THE silver question, therefore, is an is
sue, and one that vitality concerns the well
fare, not only of the industrial classes. but
of business men generally. and it will not
down at the bidding of any party nor can
it be ignored, thrust aside or lodged. 1t is
q living issne and must be met and settled.
and the only permanent settlement of it is
the restoration of free bimetallic coinage.
or the ultimate abandonment of the princi-
pie of automatic regulation of money
through the production of the precious
YuetalRv