Pine Bluff daily graphic., 1895-03-15

S4 . AsOsS EAS O. MA0 ANAAAAa4SStiJ of the necessity Of a double standard of value and of the danger of gold monometallism. They might as well talk of the necessity of a double standard for measuring liquids or distance and of the dangers of a single yardstick or gallon vessel.
 A double standard of value is an impossibility, and all the legislation in the world will not make the fact otherwise. No matter what the ex- pedients the Government may adopt the value of things will be measured by one metal or another. The United States, in spite of the free coinage of gold and silver, has always been single standard country. At one time this standard consisted of silver, at another of gold. When the hints oyervalued the one relatively to the other, the dearer metal went out of circulation. It was more valuable as bullion than as coin, and no sane person would send it to the hints. In this way no gold was in circulation for several years in the early history of the Republic, and later no silver was coined.
 When gold and silver circulate side by side it is because one metal is supported by the other. Such is the case with silver now. A white dol lar, which really is worth only hali of its face value, passes current be cause the Federal Government stands ready to exchange it for a gold dollar. A coin made of iron or brass would have the same value under like circumstances. If the difference in the comparatively value of gold and silver as bullion is not great it is not difficult to maintain their parity as coin. For this req son the country has heard little oi bimetallism until lately. With the tremendous depreciation in silver during recent years, however, it has become heavier and heavier task okeep themetals tpar.
 The people should understand, therefore, what it is the American Bimetallic party" proposes. This league is not aiming to bring about bimetallism, but silver monometall- ism. It demands the unrestricted coinage of silver at the ratio of 16 to I, twice the actual value of silver. There could be but one outcome to such a foolhardy experiment.. Gold would utterly break down the weight of such a burden and be driven out of circulation, and the foremost nation on earth in intelligence and wealth would find itself, along with the haif-ciyilized countries of Asia and South America, on silver basis. Nor is this all. Free silver coinage under such conditions would mean the virtual repudiation of half ormore of exiting money contracts and debts, rise in the price of the necessaries of life and the plum der of the masses by the payment of wages in depreciated currency. The American people are not yet pre- pared to commit an act of such mon- umental folly.
 Undoubtedly there is a place for silver in the currency system of both the Republic and world, and the true bimetallist is he who is in favor of the widest use of the white metal as coin consistent with the em- ployment of gold as such. The wisest plan would be the adoption of a proper international ratio. Such action would prevent the currency system of any one country from be- ing exposed to the mercies of the rest. Should an international agree ment be unattainable. it is a aues- tion whether the United States could safely undertake to give silver atpresent wider recognition. than it does. The Federal Government has an enormous task to support the various forms of paper money and the immense flood of silver now in circulation, and it would be dan- gerous to strain it's ability further in this r 9peet by a larger use of sil- yer without lessening it's burden in other1directions. Atall events the people must resolutely oppose every
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