The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-12-02

IL Is possible that these srbtecss will confines
to be discussed TO some extent IN the future.
For my part have never teen aele TO undsf'
stand what Is meant by q douile standard. or
double measure OF value. and have never
found anyone who could tell me. To my EItnd
1t seems as absurd TO contend that there
should be two different standards or measures
OF value as 1t would be to insist upon having
two yardsticks OF different lengths or two gai
Ions OF different dimensions. II there were
two standards, or measures not equal In value.
IL is evident that one OF them n7ast
be false measure; and IL they were OF equal
value. Il is evident that no matter what the
law might declare. there would be In fact but
one measure, although composed OF two differ
ent kinds OF material II. for instance, the st'
yer dollar and the gold dollar were OF precisely
the same value and could be so kept at al
times there would be, in fact, Tut one stand
nrd, one unit for the measurement OF values
Whatever that actual standard may be as es-
tablished by the laws OF trade and finance,
whether It DO so many grains OF fine gold or so
many gra ins OF fine silver. It is the duty Of the
government to conform to 1t in the payment Of
Its obligations and In all its dealings with the
people.
that nothing shall circulate or he recognized
as money or currency except gold or paper Is
sued against gold, nor that the prices OF COM
mondites ought TO be, or viii be, liked upon
Tue QypOlncSlS BOlu 10 tuc onAs tffoheI ~
the world; but Il does follow that no part Of
our currency. whether 10 be silver or paper
should be permitted TO deprectate below The
established and recognized standard ANY
financial policy which would encourage or pei:
init such depreciation, or create reasonable
apprehension OF such depreciation, would un-
settle values, paralyze business arrest the
growth and expansion of our industries, and
ultimaI ely bring almost uni5ersal bankruptcy
and ruin upon the country. II must be remem-
bered, however. that 1t is the function and duty
of the legislative department to establish the
policy OF the government upon this and all
other subjects. and to clothe the executive
with the necessary authority and means TO
carry It out. When the authority and means
are granted, the executive department is re-
sponsible for the manner In which the law Is
executed but beyond this 1t has no power TO
act. and. consequently, no duty to perform.
Gentlemen. the question whether the obltga.
lions OF the United States will be paid in coin
currency in oil the markets OF the world has
already been settled. and II has. in my opinion.
been settled for all time TO come. IL has been
settled, not by any specific act OF congress
prescribing the eHHct mode Of payment, but ny
| the spirit and obvious purpose Of the whole
| body OF existing legislation upon the subject
and by the deliberate Judgment OF the Amer
| lean people and the declared purpose OF those
| who have been intrusted with the execution Of
| the laws The disposition and ability OF the
government to maintain Its own credit at the
| highest possible standard, and to preserve the
| integrity OF all the forms OF currency In cir
| culation among the people. can not he reason
| ably doubted, and ought not to be subjects OF
| serious controversy hereafter.