Capital journal. (Salem, Or.) 1893-1895, 1895-08-22
DELL's REPLY TO GEER.

PORTLAND, Aug. 20,-(To the Ed
itor. r.)-Ex-Speaker Geer asks me an.
other question. He was not dead, 1t
seems, like the "token" silver dollar
He was only threshing his neighbours
wheat, and trying to understand how
the single gold standard had made 1t
fall so low In value.
"What difference does IL make" be
asks, II the gold dollar is the sole meas
ure of values?r provided the "token"
silver dollar as currency" Ia as good
as the gold dollar. Why, my friend,
the silver dollar as currency does not
do one fiftieth part Of the business Of
this nation. AS currency, therefore, 1t
is Of very slight importance to the
farmer and to every property-holder,
debtor and laborer. AS measure Of
values" however, 1t is Of the most vital
consequence to the massee Of the world.
Invest IL with this vital function, by
making II full legal tender, primary
money, standing on its own basis, as
prior to 1873, and down goes the gold
dollar In value while up goes wheat
and all other property. On the other
hand, what good does II do the farmer
to have the "token" silver dollar pass
equal to gold dollar when the dearer
that gold dollar, the lower the price Of
his wheat? This function OF measur-
Ing values and thus reducing the value
OF the gold dollar and raising property
values is its vital function. This makes
1t the friend Of the masses, and inspires
the hatred Of the bondholder. Yet you
ignore this vital feature OF the silver
dollar Why, sir, "token" silver money
Is dead money for all valuable purposes
to mankind In this age. "'Tis Greece,
but living Greece no more" was the
eloquent comment when Greclan lib
erty was destroyed.
You seem TO think the action of
Austria and India In 1898, making
"token" money Of silver, ia irrelevant
10 this discussion. Why, sir, that was
the cause Of the sudden rise In gold
and fall In values there and here in
1898, and the continued depression and
present ruin. The East Indians were
ready to fight rather than have their
rupee demonelized. Rothchild said,
"All right. We will not disturb your
currency" He left the Indian Rupee
full legal tender; but had law passed
destroying Its vital functions as
measure OF values" of all their
5000, 900, 900 OF silver rupee This
made them "token" money. Their
valued rupee was "dead" money and
they didn't know 1t. All their prop.
erty values fell. Universal misery and
ruin followed. But the ignorant East
Indians did not know the cause. Gold
has risen The ex speaker OF their
ocal legislature said he couldn't see
What difference II made, II "gold was
he sole measure OF values" since the
liver rupee was good "token" MONEY
's currency p That action of India
md the similar action or Austria made
told rise here 25 cents on the dollar,
uddenly, 1t blighted every home but !
I've In Portland. 1t bllghted every
lome In your county (Marion) except &
ne, Mr. Geer. IL confiscated this O
Vhole, live Yankee nation because n
old was 1.-THE sole measure" and unit p
Z Value. o
Like that East Indian ex-speaker, .
oweyer, you say you cannot see what a
Ifference II makes. " II gold Is the sole = =
leasure OF values" provided our token
liver dollar Is as good In currency" p
J the gold dollar. Par Mobile fratruml 8
low can II make a difference to US ? n,
fhy, by getting of the gold stan ndard ca
? putting life into our dead silver m m
,llars;by making them primary silver ys
oney, resting on their own bash, as 81