Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1894-07-25

est dollar, for il was In the interest Of
gold that silver was stricken down. It IL
as unfair to abuse silver for not keeping
pace with gold under the adverse oondi-
lions which have prevailed for the last 20
years, az it would be to knock man down
and then kick him for falling.
When the gold mines of California and
Australia we're discovered, gold was de-
nounced as the dishonest metal, and was
demonetized in Germany in 1857. But if
the silver dollar ia a dishonest dollar, how
will an international agreement purge 1t
of its dishonesty! How will the Wsters of
international bimetallism wash out its
guilty stainss If it is illegitimate, can
the bar sinister be removed by interna-
tional adoptionf Out upon suoh fallacies!
Ihe only advantage to be derived from
international bimetallism is that which
would follow our independent free COIN
age. 1t viii restore silver to its former
position as q money metal, thereby in
crease the demand for it. and stop the
continual appreciation of gold.
But" shouts the monometaliist, "gold
has not appreciated, silver has deprecated.
Gold is of stable value. All prices have
fallen relatively to gold, but that Is due
to invention, improved methods, and vari-
Gus other causes
1t seems difficult to comprehend why
mOnometallists, who afe so glib in quot
ing the rules of political economy in sup
port of their claims, so persistently refuse
to acknowledge the force of the same rules
when they tend to overthrow their claims
If there is any rule that monometallists
delight in quoting, when attention is called
to the persistent falling of prices, it is the
rule of supply and demand. AS soon as
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 disassociated 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 a new money ma
terial. Suppose that they concluded to
use marbles for money; and by law deter
mined that the marbles made from a GER
tain peculiar white clay should bear
proportionate value to those made Of
certain yellow clay of 16 to l. Suppose that
the government established manufactures
for making these marbles, prohibited
their manufacture by any individual; by
law made these marbles full legal tender
for all debts, public and private, and an
ounce marble of white clay the anti of
value. Suppose other nations should be
blessed with the change, and should also
demonetize both gold and silveR, and some
would use both eiays and come only one
as full legal tender. .aa~ 20. aazs'
After 80 years use of these marbles as
money, during which time the white clay,
in bulk, was q little more valuable than
one-siXteenth of the same amount of vel
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 demonetize 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 elbow clay, and
make the yellow marbles gradually increase
In value, as compared with all other COM
modtties, if the supply of yellow clay was
no more abundant than is that of gold?
Then, suppose other nations made the
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 clayf
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 characterization 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 appreciated? Would you not con-
slider them either perverse or blinded by
self-interest?
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-
etize the white clay and furnish her peo-
pie with sufficient money to stop this
think of men who claimed to be possessed
of the instincts of patriotism who would
protest against such a course unless the
other civilized nations would agree to do
the same thing?
We are told that We cannot maintain the
two metals at a parity with the ratio of
16 to 1; that our gold will take wings and
fly away; and we will be left with nothing
but deprecated currency on our hands.
There are great many citizens of the
United States who are to- day talking of a
lack of confidence in our currency who
simply have a lack of confidence in our
country. They claim lack of confidence
in American money when they really have
lack of confidence in American manhood.
If these citizsns would take the trouble
to find out what the resources and de-
mands of this country are, they would
readily see that they need have no fear
about maintaining the parity between sill
YER and gold.
Here we meet with another difficulty, by
reason of the different meanings attached
by different minds to the words, "main-
tain the parity"
Monometallists mean, when they say We