Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-10-01
PART TWO

open market about 81 cents; the en-
changeablo value In coin Is 100 cents
When the convention declared that TIKI
PAPER ga, dollar should be kept at par win
I the coin. dollar they explained what they
meant by exchangeable value.
IT the fundamental condition of equal.
! ity oil the two metals In the MARKETS and
4 the mints does not exist, then II must
be produced Through international agree.
mont, or by such safeguards Of legisla.
/ tiou as shall insure the maintenance Of
] the parity OF the two metals aud thu
equal power of every dollar, at all times,
IN The markets and In the payment OF
debts Hcre is clear recognition Of
Two oppoaing opinions as TO the proper
! method of reaching blmetallism; one by
International agreement and the other
by national legislation. II was well
j known IN that convention that the Demo-
cratic party. as wen as the Republican
parry was divided as to these two OPP
posing policies.
! The convention was too smart TO es-
| nouse one of these and antagonze tho
! other, There wcsc too many voters In
/ the ranks of each who might forget
tally said TO the country: We are DEM
I oerqis; we believe with Thomas Ieffer-
sou that ouor of opinion may be toll
I Grated when reason Is left free TO combat
Z II; let reason and the wrong 80 togetheri
our faith IL that rcssoh will survive and
!
/ Sitlons in the agcna of debate; discusl
! them, tnrn on the light try them by
l the crucihlo; seek and find the right
| Remember that In essentials Their
should be unity. IN nonessentials liberty
/ IN MI things charity"
The essential here Is that the TIVE
/ metals must rcnain IN our circulation
| II possible ms siuns, but " that " moi
/ possible, one mifrt be the principal and
the other tho auxiliary: but under no cir
{ .stHraU las L. ~ ~ L..
PEELED. The president expressed n scni.
! ment that lives Va the bosom OF every
| Democrat In the land when he said thai
! the people were entitled to sound and
stable currency aud their government
nan no right TO injufe them by financial
/ experiments
Sir, | AM hlmetnliist myself, and
have been ever since the question nf Al.
yer coinage hiss heen ngitatcd IN iht
| country, aud since have been In public
life ! ani for the free and unlimited
coming Of both gold aud silver. anal tho
language o! thr national Democratic
platform expresses my sentiments as
clearly ny II ! had written II with my
own hand, ! an for the free aud un-
limited coinage of both metals, but
that free and unlimited coinage must re-
suit In the preservation of that bmetul-
Ism which we hive today. aud keep both
metals circulating In our country at par.
Nothing In the business Of the country
flN wv UT hntl ifhnANfnNtnt importance
10 It's labor as the iixity nnd stability Of
the STANDARD OF value that measures nil
rs products IN the market | wonder
IL our friends have ever thought how
imincufe are the products thar are thrown
upon the world by the daily labor Of
The American people Every article
made by that lnbor has 10 be valued
before IL goes from The producer 20 the
middle-mnn and from him to the con-
snlncr, and every, exchange that ~ made
when The article leaves the producer and
Is on rs way 10 the consumer has 10 he
valued, and before It can BE- valued thors
must be q standard by which Il Il to DO
valued, Dno Of the moAl hlelliWnt
stalisticlans IN the United States says
that the annual exchanges OF our coun-
"a. amount TO more than Si0,OO0,Oo0.-
900 year.
Let US think for one moment that
every nl who Is lnhoring h laboring
i've or t. times as much for some one
else rs hg y for himself His products
have TO- be exchanged; and before they
nre exchanged there ninst be standard
ny which they are 10 be valued when er-
changed, The great mass Of our ~ :
VVnlOoV OF persons who are engaged In
gainful Occupations In this country must
have a stghle standard OF value or they
viii be cheated every DAY and every
hour Of the day throughout The whole
year When the president declares In
his message for a stable standard OF
value and whrns rs " the perils that
are In the way, he Is ktnnding IN the
steps and repeating the declarations Of
Ihomas Jefferson, the great author and
founder OF our party, In 1919. when the
country was similarly situated. he
wrote 70 Mr., John w Epps letter,
from which extract the following pas
sape.
ITO trade on equal terms the common
moaanre. Of ynluea should be us nenrly
aH possible on par with that ~ IT. cor
responding nations. whose medium Is Ia
Hound st0te~fthal " TO say not IN an
ne ildeninl state OF excess or deficiency.
Now, one of the great advantages of
specie medium is that being of unyer-
gal value II viii keep itself at general
level, Moving ont from where II n too
high into parts where II IS lower.
Whereas II the medium be Of local value
only, as paper money, 4 too little indeed,
gold and silver will How Ia to supply tho
deficiency; but " too much, II ncruuiu-
lntes, banIshes the gold and silver not
locked up IN tho vaults and boards and
depfeclates itself; that Is TO say, It's pro-
portion to the annual produce Of indus
| Try being raised, more Of II n required
10 represent any particular article Of pro-
duoe than in tho other countries
The best possible standard value n
universal standard throughout ths
whole world, where every part " tho
globe recognizes the same article AZ tho
measure Of values for the rest. The
VARIATION then MOulu be u mere trace
as chemists say III their analyses. II
gold were tho universal standard. the
only variation IN It's price would be de-
tcrmined by Its own demand aud sup
ply; but gold alone Is not the best stand-
ard. Many Of our greatest men have
contendod for the single standard OF ono
metal, and many for the other. Gen.
tackson'a secretary Of the treasury mado
q strong report III 1870 In favor Of a
single silver standard. The subject was
thoroughly Investigated from lhlS 70
1874, aud reports were made on the
subject 10 the house of representatives
A very able report was made BY Mr.
Campbell Il. White. from the committee
Of coinage to the house Of representatives.
advocating tho the single silver standard.
But 7 agree with Mr.. Jefferson and
Mr.. Hamilton. md the other great faith
efs of our country, that the blmetallic
standard u the best for the world. There
are two prominent reasons why be-
1--WE So Silver mud gold hive boon per-
petuul rivals Of each other through all
he ages. Each has been contending In
The market for tiie control Of exchanges.
Each has lad Its advocnies, md now
has ia advocates IN every country. ~
sertine that II ahall be accepted rs the
standard. 10 the exclusion Of ~ rival
This persistent struggle between the two
metals and those who espousc Thorn
constitutes disturbance that unsettles
business and makes a variable standard