Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1892-05-06

France must ultimately join the gold
trust and dispose of her $3.50. 1000, 900
Of silver and replace tho same with
gold.
1t must be borne in mind that the
nation or the people who succeed in
this fierce competition in accumulating
gold must pay the highest price,
which means that they must sell their
labor and their products cheapest.
The competition in purchasing gold
to discharge obligations payable in
silver has already reduced the price
Of farm products in this country fully
so per cent, and il the process which
the gold men advocate 10 continued
until tho gold standard 10 reached
throughout the world, prices must fall
more than so per cent. below their
present level. The obligations to
pay money already existing will re-
quire sacrifices such as no generation
Of men ever made.
The Secretary OF tho Treasury. in
his celebrated speech OF November
II, 1891, admitted that there WAS not
gold enough for use - money. He
said:
alt is now agreed on al sides that
gold alone furnishes too narrow basis
upon which to conduct the money
affairs OF the world"
A more patent truth was never
uttered. 10 the face of this admitted
fact he proposed to treat the $780,
OOO, 900 Of silver coins, silver certifi.
Gates and treasury notes - merely
credit money depending upon the
narrow basis - gold and pledged
himself to the gold syndicate that be
would not sell bonds aud buy gold to
redeem treasury notes - provided by
the act Of 1890, for the purpose Of
avoiding tho use Of silver as money.
Whist moro daring and audacious
position could be suggested for the
purpose of enhancing the price of
gold and depressing the price ofprop-
erty than to sell bonds aud buy gold
to redeem all tho treasury notes which
may be issued under the act of 1890?
The execution Of such . project, il
successful, would destroy the reserves
Of gold Of every country in Europe,
enormously advance the price Of gold,
and increase the disparity between
gold and silver bullion. Is not this q
strange way of executing q statute,
the declared intention of which is to
, maintain the parity between the two
, metals?
The advocates OF gold express great
anxiety to make each dollar As good
as every other dollar. This may be
9 done, it is true, by . promise to re-
deem one dollar in another dollar
g Tho Government may promise to re-
=. deem its paper money and Its silver
money in gold coin. While such Z
, promise can be maintained, the pspe,
money and the silver money are Al
Z good as the gold money. but the silver
e in such q case is merely credit money
o depending upon the promise to redeem
# in gold for its value. and is no bette
. that paper money.
u The ouly possible way to mako
. silver dollar as good a. . gold dolls'
u in the full sense of the expression,
> to restore silver to the place it occu
" pied previous to 1873. Give it tn
= money function; treat it as the none
- :. of the constitution; open the minis t
= its free coinage; make an unlimite
~ demand for it at fixed price, and tn
" price so fixed at the mint will be Il
market price Of the bullion; for n
70 one will sell 4l2a grains of silver fe
" less than . dollar if he can have
g. exchanged at the mint for . dolla
81 This method has been tried and new,
OF failed. 1t is the mode prescribed /
r. the constitution, Endorsed by Il
n Democratic party in 1880 and 1888
y. and by the Republican party in 1873
cd but now repudisted by . Republic.
r. administration.
W The fact that the Executive Depar
no ment has prevented the use of silv
]