The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-07-17

country would bear some inf .tiop
at this period of restless discomfort
on the part of a grea; many good
people who believe the er capita
should be increased
The outcome of such a flexible
money system may be foretold with
certainty. If gold is at a premium
our debts, national, state and PR
vate, will be paid in gold, or in pa
per which would be redeemable in
gold if demanded. But no redemp.
ton void be asked If this state
of the money market should remain
any great while the mining of gold
would be stimulated, and with
greater production the price would
decrease, and with it the premium
on gold coin, until the metal.
reached an equilibrium, followed
possibly, in time, by a premium on
silver. This latter condition would
result in the payment of debts in
silver, or in paper which would be
redeemed, if demanded, in silver.
But no redemption would be asked
The stimulated production of silver
under these conditions would bring
the money ma ket to an equilibrium
by the depreciation in the value of
silver. All this while the paper
promises of the country would be
maintained at as near fixed value
as the medium of exchange is in the
nature of things capable of enjoy.
ing.
The silver men may answer that
to give the creditor his option would
be paramount to fixing gold stan
dard Not at all. If the present
contention of the silver men is
sound-that free and unlimited coin.
age at sixteen to one would, by the
inherent Justice thus done silver,
bring its price and money value on
a parity with gold-then it Is self
evident that the creditor would take
silver in payment OF all debts equal
ly with gold, without dlsciimlna
ton against silver; and the silver
men are estopped to deny this con-
clusion, and will not be heard to
deny it. But if the silver men are
wrong, the gold men may rest Sc.
cure in law embodying the above
provisions as to gold, silver and
paper, because such law would
soon demonstrate, without risk,
whether silver at that ratio can be
utilized as a money metal.
The government, and our people
who owe debts, should pay in the
best money of the world; yet silver
must not be stricken down as a
money metal when it has beer
demonstrated that it may serve anG
is serving a great and good work il
our everyday affairs, passing on {
parity with gold, although the bul
lion value of the silver in the coli
extant is approxim 'tely 40 per cent
less than its face value. And
further, it cannot be known how
long time will elapse before silver
will be at premium and gold at {
discount. When this day comes
and come it will, as a result of the
cheap processes recently invented
for its production, issues similar tc
those of today must be met by new
legislation, unless some flexible law
is passed which will adjust itself tc
the inevitable changes Of the future
The law here proposed will ad
just itself to every new condition
Take the gold clause out of every
bond, pay the creditor the best
money to be had the day his deb
natures, give this government and
this people the best credit obtains
BILE, arrest the fears of the gold mer
by fixing a better and more certain
ly adjustable standard than gold
test the silver mems free and un
limited coinage, and open to The
fat money man the nearest ap
proach to his desires that he shoulc
be permitted to reach.
Then let congress at its calico
session in August repeal the Sher
man bill and pass law providing
for the free and unlimited coinag'
of gold and silver at the ratio O.
16 to /, aud further provida for
n,~o, ,>~o,,,;oo 70 NOW in unf3i n ion