The Philipsburg mail. [volume] (Philipsburg, Mont.) 1887-current, 1894-07-05
Ex-Congressman from Mime
apolis OH the Metal.
COUNTRY SAFE WITH BI-METALLISM
He Holds the Free and Unlimited
Coinage of Silver to BE the Only
Thing to Prevent an Exagger-
ated Misunderstanding on the
Silver and Well Coin IT.

Hon. John Lind discussed silver one
evening last week before the members
of the Union League, at Minneapolis
and while his address lasted for
two hours, it was interesting to the close,
and he was given hearty vote of thanks
Mr.. Lind says that he is not an inhatlon-
lst and not a contractionist; but of the
two evils, he prefers moderate initiation
rather than the frightful contraction
with which the country is now cursed
He thinks that bi-metallism IS the only
present remedy for contraction, and with
these as his leading thoughts he built up
an argument that impressed every one
who heard it. DR.. w. w. Folwell followed
Mr.. Lind in short address, but owing
to the lateness of the hour there was not
the full discussion of the address that all
hoped for. -@..-..... .."z... ...... t.
In the course of his remarks Mr.. Lind
said:
II am not an inhationist bi-metalllsm
is the only thing to prevent the greatest
initiation today that any country ever
saw If we do not see to 1t that the
people are provided with just medium
of exchange, we will have an era of
Populism or something else. When the
pendulum is swung too far one way it
must swing back with corresponding
force. IL | we're to choose between in
hation and contraction [ should choose
the former. The history of the world
impels me to take this position. Con-
traction produces thousand ills, crime,
suffering, want Of employment, and IN
der it the world comes to standstill as
it has o-dav. But it is not contraction
alone that causes our trouble. When
prices are going down, what young man
cares to go into business? What man
wishes to build a building when he knows
that he can construct it cheaper year
hence? The reason we are at stand
still to-day is because prices are going
down. What other cause can you give?
Here is a land possessed Of the greatest
skill, the greatest selfconfidence, teeming
with riches and everything to make q
people prosperous, all in state of par
alysis."
Mr.. Lind cited history to show that it
was the experience of the world that
countries had been more prosperous
when an abundance of the precious
metals had been put in circulation as
money and correspondingly depressed
when there was scarcity Of their none
tary use.
What gave new life to the nations of
Europe which never endured darker
period than that from the Seventh to
the Fourteenth century, was the discoy-
cry of America. There never was a more
glorious period than that embraced in
the three centuries following that great
discovery. There never was such times
known in America as that following the
wonderful gold discoveries in California.
The world never saw such a period of
prosperity.
Adyerting to the Sherman silver law, he
said: IT foresaw as result of it's passage
that there would be temporary demand
for silver. I knew that silver would run
up to parity after the act, and had the
act containing germ that silver should
be coined without limit, we would have
no silver question to confront to-day.
"We are ALL" he said, "agreed that we
should have more suitable standard.
You all admit that it be better to have
gold. My idea is to restore silver and
give it it's position as a money metal.
Make it perform the burden it has per-
formed in times past. 1t will give stabil-
ity not imitation. You say this is absurd;
as we'll try to legislate value into wheat
or corn; that there is an overproduction
of silver. WE'LL if gold we're demonetized,
silver would go up and gold would go
down. The minute we say that l6 ounces
of silver is the equivalent of one ounce of
gold, the two things perform the same
function and are of absolutely the same
utility, they are of the same value.
II believe that if the United States
with all her wealth. her power, her future
should say to the world: we call 16
ounces of silver the equivalent of one
ounce Of gold bring on your silver, we
stand ready to handle it at that ratio,
I do not think there would be a Jew
metal broker in the world who would sell
his silver at a discount. / believe that
80 per cent of the indebtedness Of this