The herald., 1893-06-17
I-METALLISM.

The Way to Restore Parity OF the
Two Metals Is to Use Both.
EDITORS Herald: From the outgiv-
ings of President Cleveland the other
day on the financial situation. and from
the later press interview with Secretary
Carlisle OF June 18th. giving interesting
and valuable statistics relative to our
silver coinage, 1t would look as though
the administration was anxious to ia
cilitate and encourage q campaign of
education between now and the next
meeting OF congress ON currency mat
ters. In other words, 1t would appear
that the president and his constitutional
advisers desire, in their present difficult
situation, to take the people, whose will
under the constitution (ss that wise
ruler, Abraham Lincoln. believed) is
raw' INTO rneIr csnfidence. And why
should they not? II the American
people are determined to return to their
ancient constitutional double standard.
Allison law and the Sherman law plainly
indicate that they are, why should any
one man or any dozen men, or wall
street" and all it's hoats, say them nay?
1t was charged at one time, perhaps un-
Justly, that President Cleveland would
use his patronage to coerce the peoples
representatives into voting for the re-
peal OF the Sherman law. II that policy
was ever entertained evidently
it has been abandoned, II we
may Judge by the announce
mept recently made. that the admins
tration 10 not responsible for the present
! financial situation, therefore whatever
remedy is required must be provided by
congress, and that the executive can
only administer the law as he 6nds IL,
which Ia eminentiy sound position TO
lake, albeit many people show dispo-
aition to TO criticize this policy OF 'giv-
ing the country an object lesson" 10 the
practical workings of our present cur
rency laws. BY all means let us have
the object lesson Yea, verify, let the
executive even 10 q etep further in the
| Same direction, and carry out the will Of
the people and the intent OF the oonsti-
tuition, and the clear mandate OF the act
of $780, to wit, Chat II Ia the eatab-
lished policy OF the United States to
maintain the two metals on parity
upon the present legal rstio) by using
the lower specie, thereby increasing the
demand for that metal, which would be
the seneible way OF causing its apprecia-
/ AAohs AbC RhNS0hb RNt'NN va tHlNbbVh
and non-use OF silver as potential money
certainly does not tend to bring it to q
parity with gold; nor oven would IL
maintain such parity II it already ex-
listed. And there is no uee or sense in
believing, or pretending to believe, that
il ever will, The United States and sew
eral other nations OF the civilized world
are Engaged. and have been for the last
20 years, in the hopeless Sysphisn
task of trying to raise the price
OF silver by refusing to use 1t as real
money; and in the equally absurd and
hopeless task OF attempting, in total de-
tiance OF natural law, to lower or chespeu
the price OF gold by throwing all their
monetary burdens ON that metal, there
by enormously enhancing its relative
value, which, whether we recognize it oil
not, lie but the natural and inevitable re-
suit of such Increased demand.
We pretend to be ardent bimetallists
and then DENY our faith by using only
cne metal as real money. We profess tc
want to get back to the double standard
and yet we contiue to iiaunt and defy
one of its prime, fundamental canons
when we adhere to the dearer specie
causing it to 80 still higher, and negec
the cheaper, causing it to sink still low
er, thus making the maintenance OF /
parity of the two metals, at any perma
nent ratio, an impossibllity.
OF course previous administration,
have placed the cart before the horse by
using the dearer specie, till the gold dol
lar lie now worth a dollar and half
either in silver or in staple commodities
thus making return to constitutions
! methods exceedingly difficult. Never
, theless, final abandonment OF th
, double standard means far graver eco
nomic evils than we have already expe
! rienced. 1t takes 90 per cent more nov
of silver and 90 per cent more OF the pro
duct of human labor TO buy a penny
weiRht of gold tabout dollar) than
did 20 years ago. BY and by, II th
United States and Europe adhere Il