The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-06-21
A Strong Plea in Favor Of
Bi-Metallism.
THE VIEWS OF A MICHIGAN PAPER
Gold the Money of the Rich, and
Silver the Money of the People at
Large-Both Are Necessary for
the Welfare of AIl-Bt-Met-
nllfsts Friends of Both.


The cause Of bimetallism is certainly
spreading. The present hard times, due
almost solely to the demonetization OF
silver, is opening the eyes Of the people
in the nonproducing as well as the silver
producing states, and the Daily News OF
Kalamazoo, Mich, devotes a column in
discussing the question. We give the
following facts and figures as presented
by the journal named:
''The experience of centuries has fully
demonstrated that what are known as
gold and silver are the two most perfect
metals thus far discoyered out of which
to make the standard money OF the
world. Experience has likewise demon
strated that for convenience in handling,
and for properly augumenting the volume
of circulation medium, some substitute
and auxiliary is necessary, and to supply
this demand paper notes or printed
promises to pay, are found to be most
| suitable
1T is also we'll established that to reg
ulate the volume, prevent over issues and
give them current and steady values, all
paper notes must be made redeemable in
either standard gold or silver coin or
both.
"Thus we find that at the present time
the two precious metals, gold and silver
constitute the primary and ultimate re-
demption money Of the whole world.
"Monometollism signifies the use Of
one metal alone, either gold or silver;
and bimetallism is the use of both to-
gether. Many contend that the use OF
a limited amount of silver simply for
subsidiary coin and and small change, to-
gether with gold for the large transac-
tions, constitutes bimetallism, and under
this guise many gold monometallists are
masquerading before the country.
"True and genuine bimetallism is the
unlimited use Of both gold and silver as
standard money, with equal mintage and
legal tender rights, neither one alone to
the exclusion or detriment of the other,
and both to be used alike as primary and
ultimate redemption money.
"Genuine bimetallism existed in this
country from April 2, 1893, until Feb. 13,
1878, or nearly 80 years, and at the lat
ter date the coinage of silver dollars was
stopped by a change in the coinage laws.
s'This change has caused, and is still
causing, an endless amount of vexation
and trouble, and the ablest fnanciers of
the country are searching for some way
out Of the difficulty, but none has thus
far been adopted. Nearly all agree that
terrible blunder has been made, but to
correct the evil somebody must suffer,
and the contention now upon us is to
settle the question who that somebody
must be.
''There ls now in the entire world, ac-
cording to the report of the director of
the mint, about $8,00O,O0O,O00 of gold
and silver, very nearly equally divided
in amount between the two.
ITO demonetize and destroy the value
OF either one, gold or silver, decreases
the primary money of the world $40, ,0OO,-
100000 in aggregate amount, leaving but
one half to do the business which for
merly required the entire volume OF both
together
ut is we'll established fact that to de-
stroy a part Of any useful article which
has been in steady demand, the remain
ing part will be proportionately increased
in value; therefore to destroy the value
of either gold or silver by demonetizing
or decreasing the the demand for it for
monetary purposes, correspondingly in
creases the value of the one remaining.
AS there is now in existence an equal
amount in value OF both money metals,
the full destruction OF one as money will
nearly double the value of the other and
that is precisely what is being done at
the present time. The war being waged
against silver has resulted in it's partial
demonetization, and has thrown double
duty upon gold, causing SO great a de-
mand for the yellow metal that It's pur-
chasing power has already increased over
SO per cent since the changing OF the
standard in 1873
.:Free coinage prevailed for both gold
and silver previous TO 1873, so that any
one possessing bullion, foreign coin or
plate OF either metal, could deliver it to
any mint in the United States and have
it coined intolegal standard money. The
amount was not limited in any way,