St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-05
TARIFF QUESTION SETTLED,
And BimetalliSm Now the Su-
preme Issue Before the
Country.
THE ADDRESS CRITICISED.
Administrationists in Wash
ington Consider 1t Very
Ill-AdviSed.


manifesto has been issued from Demo
cratic state headquarters:
The Democratic Executive Rooms,
Columbus. o.. Oct. 8. 1870 the
Voters of Ohio: Two years ago
the great national political battle
was fought upon two principal
laws upon an equitable basis, and
the adjustment of the money question
by the restoration of silver to its
righlful power and functions as one OF
the money metals under the cOnstitu-
ton. During this contest, however,
the issue of tariff reform was made the
paramount one. By the repeal of the
Mckinley law and the passage of tile
law now In force, tariff reform has been
substantially won, and the taxes Of the
people, especially upon the necesSaries
of life, have been very much reduced
and their opportunities thereby en-
larged. In all probability there will
not be another general revision of the
tariff for years to come. Time. how
ever, will undOubtly suggest changes
legislation, guided by wise statesman
ship, will see that this is done.
The Money Question,
therefore. is now the supreme issue be-
fore the country. The importance of
that question, whether silver shall be
restored to its full money power, cannot
be overlooked. because it affects every
interest, great and small. from the
slightest concern of the individual to
the largest and most comprehensive
interest of the nation. Especially does
it affect those who are engaged in active
industrial pursuits, for upon its proper
solution depends whether their business
shall be profitable or Improbable. This
being so, and also for the reason that so
many Misrepresentation and misstate-
ments have been made by the gold ad-
vocates In regard to it, which are alb
sOlutely false, we invoke the serious
and intelligent consideration of the
voters Of all the parties to the follow
ing:
l. That money is the standard by
which the eXchangeable value of all
labor and the products OF the same are
determined.
Q. That notwithstanding the asser.
ton of the single gold standard ad.
vOcates that gold Is an uuvarying meas
ure. no money standard has ever been.
nor ever can be, fixed and unWavering
measure.
3. Business men must remember that
money may be appreciated in value as
we'll as deprecated.
4. That when it appreciates prices
fall; when it depreciates prices rice.
8. That the value Of money itself is
fixed by its exchangeable or purchasing
power over other commodities. and this
purchasing power of money is deter
mined wholly and solely by the proper
ton that the quantity of money in cir
culation bars to other commodities. In
other words, when the supply Of money
It's purchasing power is
increased; when it is great Its purchas-
ing power IS diminished. That is, the
value or purchasing power OF money is
governed by the supply OF money and
the demand for money.
The address proceeds, by paragraphs
numbering up to twenty-five. to sup
port the foregoing propositions. The de-
mand for money is inceSsant. The sup
ply is the creation of the government.
In the United States aud Western
Europe before decentralization of silver
IN 1878 the worlds supply of gold and
silver amounted TO $1,500, oo0, 900. very
nearly equally divided. Gold Is the
money Of redemption now. The supply
has been cut in two. causing q fall in
prices.
After reviewing In detail the causes
| assigned by business men for the con.
tinuai decline in prices. all OF which are
pronounced insufficient aud oontradic-
| tory. the address says this decline 10
! going on, and therefore we can say that
when fall of prices is found operating.
| not on one article or class of articles
| alone. but on the products of all indus
tries: when found not to be confined to
any one climate, country OF race of peo-
| pie, but to diffuse itself ever all gold
| standard countries; when it Is found
not to be characteristic OF any one year.
but to 90 on progressively fer a series
| of years, 1t becomes manifest that it
does not and cannot arise from local,
temporary or subordinate causes. but
must have its origin in development Of
some principle OF universal application.
Decentralization
| cannot account for it. for production
means the creation u wealth. Wealth