Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-05

ages would remain as before. The only
direct loss would be the amount Of hu.
man labor involved in the production Of
the articles In metals destroyed. There
would, OF course, be consequential dam.
ages. All producers would suffer, and
suffer materially, just as we are now
suffering because Of the design to des.
troy half OF our money or rather to rob
half the measure Of is measure charac-
ter. Mankind would soon establish
another. There would not long be no
representative Of the wealth which was
subject 10 barter. But this wealth-the
surplus product Of the ages would re.
main, less valuable. Of course, because
more difficult TO dispose Of
Everything that facilitates trade pro-
notes values Confidence promotes
trade. Therefore Il measures values.
This Is the chief argument Of the dus.
cipc Of gold standard. lie argues
that the United States alone Of all the
advanced nations IN a commercial sense,
cannot force a bimetallic standard and
that. as other nations would disirust our
securities. the effect would be loss Of
confidence, and consequently a decrease
IN domestic values The argument Is
well taken, and were It not overcome
by other conditions would be invun.
cradle. Europe might reicc, our sccuri.
ties, yet our inherent wealth would re-.
main just the same. The argument as
to confidence would apply with more
force did Europe not already largely
own our securities. Suppose we do
declare that legal tender Tor all debts
In this nation shall be either gold or
silver at Fixed ratio' And suppose
Europe does object and declare that we
have agreed to pay in gold Europe will
not part with our securities under these
circumstance as many umid bond
holders apprehcnd. for the simple and
yet effective reason that to force these
securities upon this nation under the
conditions that a bi.meiallic standard
must establish would be to dcpfcciate
enormously their own holdings. More.
over, our contracts, as has already been
shown, can never be filed. Gold enough
does not exist for this nation alone to
meet It's obligations with Every gold
debt Is paid by contracting another. Il
not larger gold debt This Is not
alone true OF the United States. II Is
true OF all nations and an people. Those
that demand a single standard, are plac-
ing on their children, and their child.
ren's children, for untold generations a
burden from which they can escape
only by death or by Reputation. In
that day population will be enshrined
In loyal hearts as the highest type OF
patriotism. The farther we depart from
a double standard the nearer we ap.
proach that condition when mankind At
large will be the slave OF few in the
stronger nations Of the earth.
Confidence Is a great factor in human
affairs But the absolute and unques.
toned ability OF q man TO keep his con,
tracts is vastly better. II we sacrifice
the confidence Of Europe. and by reason
OF the high intelligence, foresight in
vcntion and industry of our people. we
still produce a profit, Il will serve US In
much better stead than the wealth OF
usururs who lend TO Us that they may
own us. This nation Is too rich to be
destroyed, her people too intelligent
and industrious to remain uncloihed OF