Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1895-06-20
emulation Of wealth in the hands Of

VI VI OI TIE Sluglt EOlu
standard. Among these is the fact
that every year that marked the
change from the bimetallic to the sim
gle gold standard is the very year that
marked the change from a condition Of
rising prices, large profits, general con-
tentment and great prosperity, to q
condition as follows: Failing prices,
diminishing profits, insecurity Of In.
vestments, unemployed labor, and a
heavy depression in all branches Of
the trade and industry" 1t is not n
matter Of dispute, ever among the
honest advocates Of the gold standard,
that general prosperity came to an end
with the destruction Cf the bimetallic
system, and that lard t II es, falling
prices. idle workingmen and wide
spread depression came in with the
gold standard and prevails to-day
wherever the gold standard has been
adopted. Every inter- atiOnal none
tary conference that has been called,
every demand in this country and Eu-
rope for an international agreement to
re-eStablish the bimetallic standard is
a confession that the demonstration
of silver was a blunder If not a crime;
that its consequences have been disas-
trous, and that the conditions that Ii
has wrought are full of menace and of
peril. The logic of facts establishes
beyond intelligent question that the
destruction of silver as primary none
by a conspiracy Of selfish interests is
h cause Of the widespread depres-
sion and suffering that began with the
gold standard. There can be no restol
ration of prosperity, no permanent re-
lief from prevailing conditions until
h great cause has been removed by
q complete restoration of silver to it's
proper place as a money metal, equal
with gold.
we believe in a money Of stable
value; we believe least Of ali In an APP
preciatfng standard; it is only through
II practical operation Of bimetallism
that a stable standard of value can be
obtained. A standard constituted of
money constantly increasing the value
is not a sound, single or a stble stand
ard, but a constantly changing stand
ard. The effect of gold monometallism
is to establish one standard for the
creditor and another for the debtor.
and there can be no more dishonest
monetary system than that which
$500 - 'AO'h ANaANAbI Z w AitC p'I w. Z
and n long measure 70 the lender. I'm
der the measure prevailing prior to
1913 there can be no violent change in
h relative value Of the two metals,
for a rise in value of one metal is
counteracted by a decreased demand
and a fall in value by an increased de-
mand. Under the operation of this
beneticent law a stable relation was
N infD mad Intuynnn 4Ia-S " 81.
the most extreme changes in relative
productions. From The earliest period
of our history up to 1873, the right of
the debtor to choose whether he should
pay his debt In silver or gold coin was
always recognized. The subsequent
policy has been to transfer this right
to the creditor. thus tending to con
stantly increase the value of the dear
er metal and destroy the parity be-
tween them.
Believing that it is absolutely neces-
sary to reverse the iniQuitious and
ruinous policy, we therefore resolve:
That we favor the immediate restc-
ration OF silver to its former place as
a full legal tender standard money
equal with gold. and the free and I'M
limited coinage of both silver and gold
at the ratio of 16 to / and upon terms
OF exact equality.
That while we should welcome the
cooperation Of other nations. we be-
lieve the United States should not
wait upon the cooperation of other
governments or the pleasure Of cred
itOrs, but should themselves proceed
to reverse the grinding process that
is destroying the prosperity of the peo-
pie, and should lead by their example
the nations of the earth.
That the rights Of the American peo-
pie, that the interests of American la
Dor and the prosperity Of American in
dustry have n higher claim to the con-
sheraton of the peoples lawmakers
h a the greed of foreign creditors or
the avericious demands by idle hold
ers Of idle capital
The right to regulate it's own none
tary system in the interests Of its own
people is a right to which no free GOV
Crnmcnt a barter, sell or exchange.
This reserved right is a part of every
bond, or every contract, and Of every
obligation. No creditor or claimant
can set up a right that can take prece-
dcnce over a nations obligations to
promote h welfare OF the masses of
its w people. This is n debt higher
and more binding than all other debts.
and one which Is rot only dishonest
but reasonable tn ignore.
Urder the financial policy that now
prevails we see the land filled with
Idle n disCJntcnted workingmrn and
an ev~er-growing army Of tramps; men
whom the lack of work and oppOrtuli-
ty have made them beggars. Al the
other end we find a few thousand fam
ilies who own onc-half of the wealth
OF the country. The Capitalization IF
wealth has gone hand in hand with
the spread of poverty. The pauper
and the %plutocrat are twin children Of
the same vicious and unholy system.
The situation is full of menace to the
liberties OF the people and the life of
the republic. The issue Is enfrnnchise-
meDt or hopeless servitude. Whate yer
the power Of money can do Dy de-
bauchery and corruption to maintain
Its grasp on the lawmaking power will
be done. We therefore appeal to the
plain people of the country with per-
feet OnfiieDc In their p.triofisn, on5