The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-07-15

been denominatsd the minority report Of
that committee. only desire. SO far az that
resolution IL concerned, TO say 1t IL just such
. resolution AZ WAS adopted by both tho old
political parties Mt Minneapolis and Chi
oago, and 1t msans free coinage, in the west
and the single gold standard In the east.
Appause. II means a declaration that
Henri Watterson would denominate an a
double strRddls. 1t means absolutely
nothing. II Ia the same that ths old politi-
cal parties have been handing to the masses
of the country while they havo bean bind
ing tho limbs of labor with golden shacklss
that will ultimately drag labor down and
and place capital In supremacy"
In the two FIST resolutions read there IL
some indication that those who believe IN
free bi-metallic coinnge are getting ~restless
under tho chafngs of party harness. and
that they propose through this convention
to give a gentle reminder to those manag-
Ing the politics of the county to the sxcln.
sion of the feelings Of the people OF the
west that there 10 danger of u revolt, aud
who will sec 10 IL 80 far % they can that
Justice il done to their country. loud
applause
Until the first quarter of the present con-
every civilized nation. They were coined
at a definite ratio. That Is by act of the
government 1t was declared that one part
of gold should be equal to u certain speci-
fed number OF parts of silver. And this
law was upon tho statute books Of England,
spain. France. Germany and the other
European nations. The ratio of the value
was fixed by law which PRACTICAL deter
mined tho market value of the two metals.
So potent has been the power of law in
fixing the value OF gold aud silver In the
markets of the world. that until 1879, 10
matter what tho relative proportion was Of
gold to silver or silver to gold, there never
was n gradual depreciation in value than
about three per: cent. This was and is rec
coinage of gold and silver with a fixed legal
ratio, and so far rs the United states was
concerned it was not until 1873. when silver
was demonetizcd, that tho debt paying
power WAS taken from it, When it was de-
prived of the right of free coinage in the
mints OF the country. 1t was not unit
then, when the silver bullion was placed
upon an equality with the ooarser metals,
that u gap appeared between the value of
gold and silver. Measured by the gold
standard that gap has been increasing
from 1873 until the present time. until in a
dollars worth of gold and in a dollars
worth Of silver there is a difference of about
measured by the gold standard. of about
35 per cent.
This is the result Of n secret and danger
GUS conspiracy upon the part of the mon
led men of England, Germany and the
United States. Free coinage WAS taken
from silver. Because of that act
silver has fallen from $l.29 in the
and poverty stricken sun of 81 cents. &c
far as the effect upon the value of bullion
is concerned the injurious effects are fal
less conspicuous than they are upon the
industrial and other classes. 1t is esti-
mated that the total amount of gold an6
silver on the earth Is $1,000. 00O. 900 or there
abouts. Practically there was that amount
money? The greenback, the notes of the
Bank of England and of the Bank OF
France, the silver notes in the treasury,
All forms of paper money issued by all gov
ernments is credit money! In. addition to
that the business of the world is done
largely on credit. and while there is but
81, 900. 900. 600 in gold md silver money in
the world the credits of the world amount
to about 500, O00. 600. Upon what doe!
credit exist? Unjust be ultimately redeemed
with metal money, with money possessing
an intrinsic value. The credit must res
for its security aud ultimate redemption
upon the coined money Of the world. Il
must also be clear to every thinking man tina
as the basis of sound money is broad ane
deep SO will the superstructure Of credit b.
safe and steady. AS the foundations o
sound metal money are taken away SO viii
the mountain of credit built upon it b.
unsafe and render the world subject t.
financial revolution. One-half OF tn
foundation taken away. n the inevitable
result ia that if the same amount were up
held by $4,000, 600. 600 of gold and silve
money, is now upheld by but one-half O.
that sum. If one-half of the foundation
has been swept away then either the credit
must be reduced in q cor espondinl
degree, or else the world is doubly liable
for these tremendous financial revolutions
that carry ruin to whatever section of tn
world has experienced them.
So the result of this has been the United
States. England. Germany ana every othel
nation has become necessarily mo!e liable
to financial disaster, more liable to grea
and disastrous storms IN the manufacture
ing industry and commercial enterprise
are driven to the wall. 1t means either in
creased financial disaster or else the reduc
ton not only in the volume and ultimate
money redemption. but a decrease in tn
volume of credit money that must be baset
upo it. There is lots of money in New
York to be had it is said. That is true
but what good are the peopl
of Helena and the citizens o
Denver receiving from it? Through thu
decentralization of silver Their money i
constantly increasing in value, because tn
greater the demand and the smaller tn
supply of any article, whether it is none.
or corn, the more valuable will the anti
Gle be-.
The fight against this was commenced il
1873 BY the people. five years after the de
mOnetization of silver. A bill TO" free ant
unlimited coinage passed the house of ieD
resentatives by an almost unanimous vote
democrats aud republicans voting for i
alike. The Bland bill then permitted tn
purchase OF bullion and the coinage of 81.
00O. 600 per month in silver continued il
force until 1890. In the intervals the PEG
pie were demanding the restoration Of til
free coinage of silver. The republican con
vention that met in 1880 passed a resolu
ton that was constr ued to mean tn
free coinage Of silver. Mr.. Garfield wa
elected on that platform. We all know
that from 1880 TO 1884 both Mr.. CARTEL,
and Mr.. Arthur construed the resolution t
mean opposition to free coinage. In 1S6
the two great conventions met. One nom
mated Cleveland and the other nominate
Blaine. Both of the p!atformH declared
for free silver and when ongress assemble
senators and congressman prepared a bill
for the purpose of securing the passage 0
a free coinage law. Then this man eleote,
or the democratic platform sent n letter t
100 members of congress ut Washington II
response to a private letter from one o
them, in which he not only denounceI
free coinage but actually declared il
favor of the suspension of the &C
authorizing the coinage of 81. 900, 900 pc
month. In 1883 the convention. overcom
by his personality. nominated Mr.. Cleve
land again, and tho party went to bRttl
without declaring for free coinage. Th
result was that the party WAS defeated, an
il deserved IL. tIDul apulRuse