The herald., 1895-01-25
THE PARAMOUNT ISSUE.


islate on the money question. There
is not time to devise and enact . wise
and comprehensive law. one TIA. will
give simplicity to the system and suffi-
cheney to the volume Of money. Views
are in such variety that ii 10 probably
impossible to bring about concurrence of
majority in sithor branch upon any
measure. The members who have lost
their sents probably have lost their in
terest in ell legislation.
The money question In the late cleo
ton was not made . national question,
and hence there was no specific express
sion upon 1t. In the east the
issue was not at all made, and
In the south and west senti-
ment OF eli parties was so closely one
way that there wac little said upon the
subject. When the noxt coRgreas con-
venes how the new members stand will
very soon be developed, for the silver
men will force the issue, and compel
members to taks nides without equivo-
cation or evasion. The newly elected
senators In the west are specific in their
avowals, and are for free silver coinage
at the ratio of Is to l, except Dolph OF
Oregon and Thurston of Nebraska, who
however. are for free coinage OF silver
with condition. Senators and repre-
sentatives cannot avoid meeting the
issue squarely. for the people in the
west are determined that the money
question and the silver phase OF it, shall
be settled without regard to effect upon
political parties. Such are the indica-
tlons, at least.
The subterfuge OF waiting for an in
ternational agreement through another
monetary conference will not be toler-
ated. That fiddle string has been worn
out. Silver was not demonetized by an
international agreement. and why
should it be monetizsd by one? Great
Britain began the work OF demonetiza-
ton, and after about 55 years Germany
followed; then France. and then tina
United States, and lsstly the Latin
union. India did not demonetize silver
on her own motion, but was forced to it
by imperial power. A, silver was dis
carded first by a single nation. and
then successfully by independent ma
tional action, why can it not be re-
stored to coinage through that same
modus operandi? All that is wanted is
that a strong nation shall lead off. We
are 90 remote and so entirely free from
European commercial entanglsments
that we are in better position to take
the initiative than any other nation.
That silver coinags would result in bene-
fit to this nation is apparent. and why
should we bold our welfare in abeya
until we can beg one or all European
nations to graciously give consent?
Such q position is cowardly and humili-
ating. No doubt France and the Latin
union would gladly cooperate, but they
are afraid OF Germany and Great Brit
ain. and Germany declines consent on
account of the refusal OF tho British gov
eminent, which reflects the wishes OF
the Rothschilds and the Bank Of Eng
land. Great Britain adopted gold mono
metallism not until her position as.
sursd commercial and industrial gu
premaoy and balances of trade in her
favor. Gold being scarce, the power of
money was increased by making it
the ultimate measure OF value and
medium OF exchange. England was
never known to yield an interest to
benefit other people. No Shylock was
ever more grsspinR than Great Britain
in monetary and commercial matters.
II We wait till that government says we
may adopt free silver coinage, we will
wait till the crack of doom, or until such
policies are adopted by the concurrent
action of American nations as will de.
prive her Of trade balances and deplete
her gold resources. 1t is not from Euro.
pean nations that the balances are
drawn. but from America mainly. and
to some extent from African, Asiatjc and
Oceanic continents. II silver is ever to
become international money or medium
of exchange. we will have to begin the
contest by making it domestic money.
II we do that which will supply the
wants Of our internal commerce, we can
get along very we'll. Whatever action
European nations may take.
Another subterfuge that weak-kneed
politicians resort to is that Is to l is not
the proper ratio. that of gold is worth
10, even as high as "a OF silver. To
coin silver on either of those higher
ratios would then be objected to because
the coin would be too bulky and heavy.
The present silver dollar is sometimes
called government casting by the
goldites. The monometsllisss pereist in
claiming that the value of silver as a
commodity must be measured by gold,
which has a money value fixed by law,
and consequently its commodity value
can never be below ito money value, for
il the holder OF gold in any other form
than in coin asks more than hundred
cents for 25.8 grsins, these who. want
10 buy for use in the arts and manufac.
lures will get the coin, mslt'it and use
it for their purposes.
The theory of the gold monom etsllists
is that the ratio of coinage should cor
respond with the ratio Of quantities pro-
duced. There are great fluctuations in
production, and if the ratio Of produo.
ton 10 to be the ratio In coinage then q
nau Iau uould hova m ha ynoda ava.r