Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1894-07-26

| M unAhit w hpuho bllVor IOf nOV kOopluI
pace with gold under the adverse C0ndi
tions which have prevailed for tho last q
years, as IL would DO TO knock man dow
and then kick him for falling.
When the gold mines of California AM
Australia were discovered, gold was do
nounced as tho dishonest metal, and wa
demOnetized In Germany In 1857. But l
the silver dollar ia dishonest dollar, hoV
will an international agreement purge 1
Of its dishonesty How will the waters o
international bimetallism wash ont III
guilty stainsf II IL 10 illegitimate, oAl
the bar sinister be removed by interna
tional adoptionH Out upon suoh fallacies
Tho only advantage to be derived from
international bimetallism is that which
would follow our independent free coin
age. 1t will restore silver TO lie forme
position as q money metal, thereby In
crease the demand for IL, and stop th,
continual appreciation Of gold.
But" shouts the monometAllist, "golC
has not appreciated, silver has deprecated
Gold is OF stable value. All prices hRv,
fallen relatively TO gold, but that Ia du,
to invention, improved methods, and vari
GUS other causes"
It seems difficult to comprehend why
monometsllists, who are 80 glib in quot
ing the rules of political economy in sup
port OF their claims, so persistently refuse
to acknowledge the force of tho same rules
when they tend to overthrow their claims
If there is any rule that monometallisti
delight in quoting, when attention 10 called
to the persistent falling Of prices, 1t 10 the
rule of supply and demand. AS soon at
we attempt to apply that same rule to the
value of money, we are met with an ava
lanche Of objections.
Let us see If we cannot examine this
question with our minds disassooiated from
the ideas of money thoughtlessly formed
Let US imagine nation of men sud
denly deciding to demonetize both gold
and silver, and to adopt new money ma
terial. Suppose that they concluded to
use marbles for money; and by law deter
mined that the marbles made from q GER
tain peculiar white clay should bear q
proportionate value to those made of a
certain yellow clay of l6 to /. Suppose that
the government established manufactures
for making these marbles, prohibited
their manufacture by any individually by
law made these marbles full legal tender
for all debts, public and private, and an
ounce marble OF white clay the unit Of
value. Suppose other nations should DO
pleased with the change, and should also
demonetize both gold and silver, and some
would use both OlayS and some only one
as full legal tender.
After 80 years. use Of those marbles as
money, during which time the white clay,
In bulk, was little more valuable than
one-sixteenth of the same amount of yell
low clay, because Of the fact that number
Of the most populous nations used the
white clay only for money suppose one ma
ton should surreptitiously demOnetiEe the
white clay as full legal tender, and cease
to manufacture white.clay marbles; will
any man who has an ounce of common
sense deny that snCh legislation would In
crease the demand for the yellow clay, and
make the yellow marbles gradually increase
In value, as compared with all other COM
modities, If the supply of yellow clay was
no more abundant than Is that Of goldi
Then, suppose other nations made tho
Same change; would not each one Of them
by the change increase the demand for the
yellow clay, and would not that very In
creased demand, under the well-known law
of supply and demand, increase the value
Of the yellow clayH
Then suppose certain persons who
thought their interests were favored by
this increased value Of the yellow clay
should unite with those who owned the
yellow clay, and should insist that 1t was
a mistake to suppose that the yellow clay
had increased in value, and should claim
that yellow clay was the only stable article
in existence, and that the white clay had
simply deprecated; then suppose this
claim should be met by showing them
that, owing to the insuficiency Of the
supply of the white clay to meet the de-
mand of those nations which never had
used the yellow clay for money, the white
clay in bulk would purchase as much of
every article, except the yellow clay, as
it would before the demonstration took
place; what would you think of the friends
Of the yellow clay if they should still per-
sist in claiming that the yellow clay had
not sppreciatedH Would you not CON
slider them either perverse or blinded by
Then suppose one nation, In the slough |
Of despOnd from forced bankruptcies, the !
poverty and distress of the great mass of |
her people all wrought by persistent
falling prices should propose to remOn-
hn NH al sak ha-
Pile with sufficient money to stop this
ruinous fall of prices: what would you
ihink OF men who claimed to be possessed |
Of the instincts of patriotism who would
protest against such course unless the |
other civilized nations would agree to do
jhe same thingf
We are told that we cannot maintain the |
'wo metals at parity with the ratio of
Is to l; that our gold will take wings and
ly away; and we will be left with nothing
1ut deprecated currency on our hands.
There are great many citizens Of the
United States who are to-day talking of q
ack of confidence in our currency who
imply have lack of confidence In our
country. They claim lack of confidence
n American money when they really have
! lack of confidence in American manhood.
+ these citizens would take the trouble
o find out what the resources and de-
hands of this country are, they would
eadily see that they need have no fear
bout maintaining the parity between sill.
Fer and gold.
Here we meet with another difficulty, by
eason of the different meanings attached
y different minds TO the words, "main-
ain the parity"