The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-04-27
work of spectators fix the prices
upon all products of the earth

As for bimetallism, 1t is a name for
an impossibility, SO far as the relative
intrinsic value is concerned. For the
reason, In the first place, that certain
quantity Of gold IL said to be worth q
dollar, the government puts a stamp
on 1t and makes II money. Then, in the
second place. the government takes
fifty cents worth Of silver, gauged by
the gold dollar. and stamps II one dol
lar also. Now that fifty-cent silver dol
lar circulates as freely as the gold
dollar or the paper dollar, with the gov
ernment stamp on 1t, simply because
they all have the government stamp,
and the people trust the government.
These three kinds Of money are the
medium Of exchange, in which every
body has confidence. But the silver
dollar Is not the equal of the gold dollar
intrinsically, and Is purely fiat money
to the extent of the difference In value.
II 1t should happen that an excessive
amount Of silver should be coined, some
combination OF speculative or dishon-
est men might raise hue and cry, and
scare against silver money, and cause
1t to depreciate the same as was done
with the trade dollar. once in circula-
tion; the people were fleeced out of fif-
teen cents on the dollar. Bimetallism
Is an impossibility while silver is so
plentiful and it's production on the in
crease. There can be but one stand
ard for money, and that Is either gold
or silver. For bimetallism you meas
ure the silver by the gold, consequently
the gold is the real standard after all,
and silver Is subsidiary to the gold, and
Is simply an illusion.
AS for the increase in the value of
money or the decrease in the value
of products, those conditions affect only
the debtor class, and every one con-
tfacting debt must take his chances.
Sometimes the price of products ad-
vances, as Is just now the case with
beef and petroleum and wheat. No
body wants to have his greenbacks re-
deemed in gold but monied men who
find profit in it, or money sharks who
want to fleece the government Every
body Is satisfied with the money we
have In circulation, except that there
are too many silver dollars to be
handled by bankers and trades people.
i cannot see how the currency can be
improved. Only would prefer all the
paper money alike, and only green
backs. The currency will have to be
let alone for the present
But the country is "going to the
dogs" all the same, getting into debt
to Europe all the time, and the balance
of trade largely against US. Times will
not be restored to their best condition
so long as the people are SO unpatriotic
as to prefer foreign-made goods to
home products to the extent Of i'm
porting more than we export, and rum
ming in debt to the old world, which
debts must be paid in gold or bonds.
AS country, we are the most prosper
Gus when the balance Of trade is largely
in our favor, and we are growing richer
instead of poorer. Before the civil war,
when the country was politically in the
hands of the Democratic party, the bal
ance of trade was against us nearly
every year, and the country never knew
prosperity that would in any way COM
pare with the prosperity it has ex-
perienced since the war, and until it
was known that Democracy was again
coming into power. Even the blight of
1873 was not nearly as bad as some
periods before the war.
Respectfully,
II. b. Van Benthuysen.
Scranton, Pa, April %.