The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1893-06-24
BIMETALIsM THE ONLY REMEDY
Tie Views Of Col. J. B. Montgomery, Prom.
inept Portland Man.

continue for some time To come. \
great portion OF the ills We now suffer
from comes from the decentralization Of
silver in ls7l-3, and prosperity, not to
this country alone, but TO tie world,
will not be very apparent until silver is
restored 10 its old position. For two
centuries, almost-that is, from 1857 10
1871, silver has been received at all the
minis of the civilized world and coined
free, the same as gold, namely, at the
ratio Of 49, ounces of silver 10 one of
gold. That ratio has been maintained
speak Of
Between 1850 aud 1850 the United
states mined and poured into the golden
preserves of Wall and Thrcadneedle
streets @GJi,0yb.O,J of gold and only
~3.popye of silver: Australia. SoJD.ODp.-
UpJ OF god aad no silver. Here is nearly
Sl.2bDJlpu more gold than silver in
10 years, yet it did not disturb the parity
! between gold and silver, for al the minis
OF the Latin union France, Italy, swift
zerland and Belgium both silver and
gold We're received at ratio OF to
ID J and coined free, and III the United
states al lG to l..
In speaking Of the repeal Of the Sher-
man act he says:
Il think it will do good in this way:
England is the only country that REAL,
stands III the way Of a restoration OF
hmetalism. II we repeal the Sherman
act we will cease TO hold up the price OF
silver, and ii silver drops 3 pence more
India Will be bankrupt. India is the
dependency of Great Britain. that she
depends most on for her colonial trade
Ii has A population of 3Dtrpnoot and
Great Britain does more trade with her
than all her other colonies. \ fall of 3
pence on the rupee will cost India. says
sir David Barbour, chancellor OF the
India eXcAequer. t3,np,uop, and She will
be bankrupt. She now has TO pay the
money lending class in England in III
terest on her debt rlG.aslon. This is
in gold. aud after her budget is prepared
she has Ia lay additional taxes oi nearly
l"nnnolA of rupees 10 pay the gold ex
change, Al! taxes wages and accounts
are paid in India in silver.
">Ir David Barbour was one Of the
commissioners from India 10 the Brus
sells monetary conference. They favored
bimetaiism. and declared in the cor
ference that if silver was not remoue-
iized on something like the basis previ-
Gus 10 1871. India would be bankrupt
England cannot afford 10 bankrupt her
richest possession: therefore ! think
she Will t." compelled 10 agree TO b!-
metallic standard.
+ "BesideS. her ableSt thinkers and
writers, and her manufacturers and
agriculturiStS. IS well As the leaders oi
her labor unions, have in the last year
declared for bimeialism. need only
mention salisbury. Eaifour. Prof Fox
veil Leonard Courtney. >r David Bar
bour. sir George theeuey, Martin
frtWen and host OF others During
all that long period of Isl years. from
liSs TO 1871. while silver and gold were
received at the minis OF the civilized
world (oNcop; England and coined free
al the rate of I5is ounces OF silver ID
one of gold. the parity OF the two metals
never varied more than one per cent.
notwithstanding tor "a years there was
a delgge of gold from California and
Australia. You ask why: Because. il
gold accumulated IN England, all she
had 10 do was Ia SEND il 10 Paris oI
Berlin and exchange il for silver. anu
the cost for freight and Insurance never
exceeded one per cent. The great
amount of gold mined between I>-9
and 1861 frightened the Dutch, aud they
actually demonetized gold, Ii England
and other nations had followed the eX
ample of Holland, that precious meta
would have shruuk in value rs much rs
silver has done in the last ~ years
Through the discovery of the s.lve,
mines of Peru and Bolivia in the six
teenth century. Adam Smith SAYS in hi,
Wealth of Nations. valucS of MI kinda
b of property appreciated three fold. Ii
= other words, the purchasing price a
silver decreased that much. And if ",
continue in the decentralization of sill
! yer. all values in the United States an,
p in Europe viii shrink at least one-half
They have already done so 10 at least y
? per cent. Land in Great Britain to da,
I is not worth more than half what ii wa
in 1871. and all manufactures and laho
{ also have gone down in the scale a
y least ~ per cent.
Q There never was a moN foolish nc
4 than the civilized nations of the wur,,
T. demone,izing silver diScapling the us
| of Learly half it, coin metal. 1t is 10
c the benefit of no portion Of mankru
except the small number Who have liN,t