The Lamar register., 1893-08-12
(which existed before the discovery

which existed before the discovery 4
America
We are to-day the leading s...on OF ths
world and have only made q beginnini In -
development of our resources. We areaband-
antly able and can we'll afford 70 franz oar
own policy with respect to our monefsv ~
fairs, Independently OF the rest pf the wopu-
Those who are afflicted with the fear ask
the condition of this country will be brough.
to that OF China by the upholding OF bI-u.eta1-
lism, should remember our experiences iron
1861 to 1879, when we had neither gold a
silver, but only an inconyertfble paper money
/ am not to be understood as favoring an IN
convertible paper money am radically op-
posed to fiat money. but after the experiences
of those years am not able to participate In
the feeling of danger; SO prevalent nov. a
must adopt the policy of maintaining bi- met
nlllsm involving as 1t should, the unlimltEd
coinage Of gold and silver.
But, II In the course OF things, not OF our
own choice making, but By the natural
working Of our immemorable double standard,
our metallic money comes to consist exe3u-
sively OF silver, we will escape lose to which
they will remain subjected. We will thereby
obtain precisely that advantage over Western
Europe which has already enabled British In
dia to supercede the English in supplying
China with cotton yarns, and to maintain =
gaining competition with them in supplying
China with cotton cloths. We shall then seH
goods in all silver standard countries for tho
same kind of money. by the expenditure of
which the goods are produced With thai
advantage over Western Europe there is nOth-
ing TO prevent our vaulting by single bound
into the mastery of the worlds commerce,
which in modern times consists essentially in
the profitable exchange OF the finished pre-
ducts of the science, skill and appliances OF
highly civilized nations for the products Oh
tained by the rude labor of seml-civiIized
peoples with the aid OF rich soils, bcnignaut
suns and other natural advantages.
II this country steadily perseveres in coin
age of silver and II, at some future time, " hiefi
may never come, it shall result from that
coinage and from the refusal of Western
Europe to restore the old bimetallic eondi-
tions which 1t voluntarily and deiiter-
ately destroyed, the metallic money. Of
this country becomes exclusively silver, one
of two things must happen; Western Europe
must then either abandon its gold mono
metalllsm or It will, by aihering to 1t, trans
fer to us the substantial monopoly of supply
ing Asia and South America with manufac-
lures, which means for the commercial and
manufacturing nations of Europe, with their
crowded populations not merely the loss nj
prosperity, but absolute financial, political
and social ruin.
II is not Western Europe which is the mas
ter of the situation. but the United States.
We have had bl-metallic currency since The
| first settlement of America by the transat-
lantic races. All our traditions are biniefal-
/ lie In the constitution of our present form
of national government now more than a
century old. bimetaliism is inmoyably im-
bedded. The Judgment OF the country y nh-
/ doubtedly in favor of continuing In the old
way In all events we viii, by maintaining
I our double standard law. make TO mankind n
/ standing oier to continue in the old way by
I keeping our mints always open to all eonlerp
| for the coinage of gold at the ratio 10 silver
! of to l6. But II Western Europe pesseyeres
/ in measures which raise the value of gold to
such a height that 1t flows away from us be-
cause cannot retain 1t in nonesary
use without intolerable sacrifices, and if silver
I barnmes nj "A sole metallic money. IL rs
! this country which will be carried to pitch
of prosperity transeendiug all the pas., and IL
is Western Europe which will be plunged
] into an abyss of ruin.