Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-12-13


clined In value. The prophecy and the ex-
pressed hope and expectation of those
In congress who led In the passage OF the
last mentioned act, that 1t would re-oe-
tablish and maintain the former parity
between the two metals are still fresh In
our memories.
In the light of these experiences which
accord with the experiences Of other ma
tons there Is certainly no secure ground
for the belief that an act Of congress
could now bridge an inequality Of go per
cent between gold and silver at our pres
ent ratio. nor IL there the least POSSIBLE
ity that our country, which has less than
one-seventh Of the silver money in the
world could by Its action alone raise not
only our own, but all silver to it, lost
ratio with gold. Our attempt to accom-
plish this by the free coinage of silver at
a ratio differing widely from actual rela-
tive values would be the signal for the
complete departure of gold from our
circulation, the immediate and large d.
minution of our circulating medium, and
a shrinkage in the real value ana none
tary efficiency of all other offers of cur
rency as they settled to the level of silver
monometallism. Every one who receives
q flxed salary and every worker for wages
would md the dollar In his hand ruth
lessly scaled down to the point of bitter
disappointment II not to pinching prtva-
ton. A change In our standard to silver
monometallism would also bring on q col
lapse
when based on standard which ID rec
ognixed and adopted by the world OF
business, Ii many times more potent and
useful than the entire volume of curren-
| cy and il safely capable Of almost indef-
mite expansion to meet the growth OF
| trade and enterprise.
| In a self-invited struggle through dark
| ness and uncertainty our humiliation
/ would be increased by the consciousness
that we had parted company with all
the enlightened and progressive nations
| of the world and were desperately and
| hopelessly striving to meet the stress OF
| modern commerce and competition with
q debased and unsuitable currency and
F! in association with the few weak and
! laggard nations which have silver alone
I as their standard of value.
DARK DAYS PROPHEsIED.
All history warns US against rash ex-
periments which threaten violent changes
IN our monetary standard and the deg
| relation OF our currency. The past Ii
fun Of lessons teaching not only the
economic dangers, but the national inn
! morality that follows In the train of such
, experiments. will not believe that the
American people can be persuaded after
sober elaboration to teopardize their ma
tons prestige and proud standing by en-
| couraging financial nostrums nor that
they will yield to the false allurements
Of cheap money when they realize that
It must result In the weakening Of that
financial Integrity and rectitude which
n thus far In our history has been so de-
votedly cherished as one OF the traits
Of true Americanism.
Ii Our country's indebtedness, whether ow-
ing by the government or existing be-
tween individuals. has been contracted
with reference to our present standard.
| To decree by act of congress that these
debts shall be payable in less valuable
III dollars than those within the contempla-
/ ton and intention of the parties when
| contracted would operate to transfer by
| the fiat of law and without compensation
an amount Of property and volume of
| rights and interests almost incalculable.
II Those who advocate a blind and head
| long plunge to free coinage In the name
, Of bimetallism and protesting the belief
, contrary to all experience that we could
| thus establish double standard and a
concurrent circulation OF both metals in
4 | our coinage are certainly reckoning from
I a cloudy standpoint. Our present stand
! ard of value Is the standard of the civil
| lied world and permits the only bimetal-
I ism now possible or least that II within
\ the independent reach Of any single ma
= ton, however powerful that nation may
. | be. While the value Of gold as standard
= Is steadied by almost universal CONNER
! cial and business uses 1t does not despise
!. | silver or seek its Punishment. Wherever
a this standard Is maintained there Is at Its
: side in free and unQuestioned circulation
q volume OF silver currency sometimes
= equalling and sometimes even exceeding
; 1t in amount, both maintained at a parity
:, | Notwithstanding a depreciation or fiuctua
. | ton in the intrinsic value OF silver.
- There Is a vast difference between
a | standard OF value and a currency fol
- monetary use. The standard must nee
q essarily be fixed and certain. The cur
rency may be in diverse forms and Of var
ious kinds. No silver standard countr!
has a gold currency In circulation, blu
X an enlightened and wise system of financ
4, secures the benefit Of both gold and silve
lie as currency and circulating medium tn
standard stable and other currency at pa
with 1t. Such a system and such a stand
L. ard also give free scope for the use an
n expansion of safe and conservative cred
g. 1t, SO Indispensable to broad and growing
n commercial transactions and SO well sub
In stituted for the actual use Of money.
y II an affixed and stable standard 1
n maintained such as the magnitude an
t. | safety Of our commercial transactions an
Id business require the use Of money itsel
IL | is conveniently minimized. Every dolla
III | Of fixed and stable value has through tn
n | agency Of confident credit an astonish
tn Ing capacity Of multiplying itself In finar
er cial work. Every unstable and fluctuatin
ny | dollar fails a tnsis of credit and in II
he use begets gambling speculation and VI
st dsrmines the foundations Of honest entel
he prise.
nd have ventured to express myself o
er this subject with earnestness and plair
ness OF speech because cannot RID m,
ms selfof the belief that there turks in tn
CHI proposition for the free coinage of silve
lie so strongly approved and SO enthusiast
an tically advocated by a multitude of m
as countrymen serious menace to our pro-
se pertty and an insidious temptation to OIL
We people to wander from the allegiance the
n owe to public and private integrity.
of Is because / do not distrust the goc
he faith and sincerity of those who pres
a this scheme that l have imperfectly b,
CHI zealously submitted my thoughts upo
Id. this momentous subject. can not refrai
mt | from begging them to re-examine the
ito views and beliefs in the light of patriot
he reason and familiar experience and
Sc | weigh again and again the consequence,
IN Of such legislation as their efforts ha,
he | invited. Even the continued agitation
IA the subject adds greatly to the dificulti,
sst Of dangerous financial situation alread
Id. forced upon us.
Is APPEALS TO CONGRESS-.
In conclusion. 1 especiaIIy entreat II