Arizona weekly citizen., 1894-08-04
in regard to the silver question.

|
Shayne continued, "snd on the occasion
at dinner, in Whites Club, met some
very bralny meI-men of affairs, who
we're among the substantial men of Eng
land. learned from them that England
is walking To the idea that il had made
mistake in adopting monotallism
which is better understood as the gold
standard, and i was surprised on my
return to Lond,n, after few weeks
visit IN Paris, at the growth If the idea
of. blmetallism in the short space OF
time that was away. Bimetalism is
being discussed by the leading men OF
England with with an earnes.ness and
seriousness such as has never been the
case before. The fact that the recent
international bimetallic conference
which was held in the Mansion House,
in London, on May and 4, was attend
ed by many OF the most eminent men in
England and nearby country, is evidence
that the bimetaliic idea is taking root in
the minds OF msn who lead puoIc opin-
ion 10 those nations.
'As to ny own idea III regard to silver
it is true that last year L opposed it end
advocated monometaillsm. | attended
the meeting of the Chamber of Com
merce When the matter was dis ;ussed
by men IN whom / have a great deal OF
confidence, and, as | had not. up to that
time, given the matter any serious con-
sideration, 1 relied upon their judgment
when they advocated a gold sta dard
as eing for the best inter SITS OF the
country. Since that time. however, L
studied the question. You know we
belong to an age 10 which steam and
electricity hurry US on so fast that We
have scarcely time to read hook or re-
| view q newspal er article. One might
almost ak if there is time to think?
| Now The Recorder WAS, | believe, the
| only newspaper in the city of New York
| which advocated bimetallism. / now
believe that The Recorder was right in
the stand it took.
| "There are five points which have
been spread among the public. These
points are simple, but they are only
| parodoxes. The Chamber of CommeIc re
| did more than any one body of men to
bring about the repeal OF the Sherman
act. | now believe that the bill was a
good idea. | have now reached the
stage where l believe that silver should
| be put into circulation; that goods
should be brought with it, help paid
| with it, and that it should be used
wherever possible.
1.-THE advocates of monometallism
state that it is necessary to have one
standard OF value, that there should be
only one metallic currency, that silver
must be suppressed because it has fallen
in price, that only the gold standard
should be adopted because it is un-
changeable, and, finally, that it is i'm
possible to unite by fixed ratio metal
which varies with one which does not.
Now L clam that ii is the duty of every
one who appreciates the danger Of hav-
ing but one kind of metal for a cur
rency to combat such statements, not
only in the name of science, but in that
of history, propress and humanity. In
regard to the claim that there should
be- ore lnVariable standard OF value, ]
have often heard this phrase rape ted,
and have devoted great deal of time
during the past year to the proper IN
derstanding of the idea which it was
intended TO express. The value of
thing is the quantity OF money is scarce,
one gives little; if money is abundant,
one can give much.
1.-THE result, therefore, is that the
value of commodities, as we'll as that OF
NOR ey, will always vary as much with
one as with two metals. Now, IL all
values are always variable. always chang
ing. how, | ask, in these RESTLESS waves
Of fiuctuation, will one find this myth
which has never existed-an unchange-
able standard of value? There cannot
be interchangeable standards Of value
which are elastic. Now, the gold stand
ard men claim that there should be one
metallic currency. 1t is very easy to
state such thing, but when 1t comes
to putting it into practice the material
lmpossibility which the business men OF
all countries want rather than theory.
AS Dana Horton once said. 81 can we'll
say shat | should be charmed to lose
twelve inches of my waist, but who
will give me the means of doing so?'
ut is now twenty years, L believe
since the people of Europe decided to
have only one metal, and not to use Sill
YER any more, with the exception OF
France. 1t it not sufficient, however, to
indicate such law in order to change
the nature IF things and TO modify
society that has been established for
many centuries. In this connection,
Alphonss Allard of Brussels recently
stated at the bimetallic conference:
Let US rememb Der the old adage, which
SAYS that no law car validate that which
is forbidden by nature Now, one of the
nations of Europe that has formulated
this law of the demonstration OF silver
has succeeded in getting rid OF that
metal or in doing without 1t. After
twenty years. trial 1t hes not been sue
cess; and that is why Englishmen, who
are willing to sacrifice certain old-fash-
ion ideas for the good of their country,
are wllliag to acknowledge that they
have made mistake ia adopting mon
oneta Ism for 20 years. No country
can succeed in suppr, ssing silver money.
Two-thirds Of the nations of the globe
are using this metal only today.
"Iu r, gard to the assertion that Sill
yer must be suppressed because IL mas
fallen in value, il seems to me that this
ia a very great error. and friends OF the
working people and friends of COM
merce and good times must fight 1t with
energy. 1t is GOLD alone which has
risen in price. AS for silver, 1t but
followed the fate of all other commodi-
| ties. such rs furs, wheat, silk, wool or
other riches of the world. Mr.. George
Goshen said dozen years ago, HAPPY
are those who possess pounds sterllrg
in gold; unhappy those, on the contrary,
who have merchandise to SELL People
today are beginning to understand
| how true that remark was. They are
| beginning to understand that the capt.
talists and property owners suffer less
than others from the fall in prices.
ut is clear that the monetary ques-
ton Is developing social war. his 10
| serious question and will become more
serious if the people do not take hold OF
| if. People OF the old school assert that
there is quite enough gold, and give as
proof the amount of cash balances at
| the banks without in any way remem b.
ering that the balance is due TO the de-
| crease of business. The only purposes
for which these balances of gold can be