St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-17

either metal
IL That this bimetaliic system made
an unlimited demand for both metals
to be coined into money, increased the.
demand for these metals, and so long
as this law authorizing any one TO
coin 37114 grains of silver and % 2-lO
grains of gold into a. dollar. there was
no one willing to sell either for less
than q dollar.
''5. That the option TO pay in either
metal caused the cheaper of the two
metals TO be used, and transferred the
demand from the dearer to the cheap
er metal and restored its relative COM
mercial value. We are for both silver
and gold. We are called silver men, be-
cause we are defending the metal that
has been demonetiZed.
INDEPENDENT ACTION.
sc. That it is to the interest OF the
United States to act independently in
the remonetization of silver at the
ratio to gold Of 16 TO I, without wait
ing for the action OF any other nation
a. That monometallism consists in
the use OF the dearer Of the two metals
to the exclusion of the other, as pri-
mary or redemption money. That
monometalliSm is an experiment on
trial for the first time in the history
of the world, and began with the Pc
riod 1873. That il is Impractical and
impossible as a stable money measure
ment of values; is not based on scien-
tific financial principles; is in the in
terest of the money lenders, and
against the interest of the property
owners and Iaborers.
"S That the gold unit, as the meas
ure of values. with no concurrent
coinage, or another metal to assist it
in performing the functions of pri-
mary money, has caused the fall in
prices, as compared with 1872, when
the worlds prices of property We're
measured in the money mass of both
metals. That all prices of property
and labor have declined accordingly
as compared with 1872, except when
held UP relatively by increased de-
mand or short supply or combines and
trusts, or special reasons affecting a
particular service or property. That
the average price of all productions ex-
cept gold will show this decline is ad-
justing itself to the gold standard ;
and that when we include in labor the
unemployed and the time lost by those
employed there is a fall in wages of
one-half as compared with 1872. That
labor is adjusting itself to the gold
standard measurement of values.
EFFECT ON BUSINESS.
'9 That the decline in prices cover
ing period of twenty-five years has
as a rule made all classes of produc-
tive mercantile and manufacturing
business improbable That a falling
market covering a long period de-
stroys the prospective profits based
on cost of purchase and production
and a majority of our most astute
. business men cannot avoid failure or
loss OF capital under these conditions.
10. That il has worked a hardship
and insry 10 debtors. who, uncon-
scious Of the causes that continuous
ly reduced the prices of their property.
| have contracted debts during these
twenty-five years. That this fall in
prices caused a sacrifice of property
to purchase the dollars with which -
/ liquidate these debts. That this has
caused the renewal of debts. the con-
traction of new debts to pay old debts,
and enlarged volume of all debts
That this unjustIy takes from a debtor
his property and emphasizes the i'm
portance Of a stable money measure
ment of values.
II. That in the end no one is ben
Gifted by a fall in price but the money
lender, the owner of money and secur-
tiles payable in money, fixed incomes
'12- That the foregoing facts and
conditions, produced by a change in
our money measurement of values.
will impoverish the masses of the peo-
pie, and points by reason of the dis
turbances that it will produce to the
overthrow Of the republic.
ITO all unbiased men. and those who
will lay aside their prejudices during