Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1895-05-16

You ask how to avoid the ills of shrink
ing prices and the hardships of fuctuat-
ing exchanges that come in trade.
They cannot be avoided altogether, any
more than you can avoid, altogether,
sickness and death. Improved methods
of living may be adopted, microbe and
| bacilli for numberless diseases discovered
and eradicated by antidote, but sickness
| and deaf come at last to the strongest
constitutions. lis natural law. Legis.
| lation cannot cure it. The same thing is
true in trade. There is as much clap-trap
| about the programme of the international
! bimetallist, as there is in that of the cir
Gus doctor selling his universal "cure all"
And this international bimetallist has
wrought inealcuable harm with his
specious theory, his high educational at
mosphere, his charming oratory. He has
| led men who had no time to think, to
| believe that the rose-colored theory must
| be true, because honesty and intellect and
| Boston endorsed it. Boston has wrecked
her reputation for conservative good
| judgment, and done great harm to the
west.by catching up this fallaey and un-
thinkingy putting good sound names on
the list and letting it go out that Boston
endorsed Internal ional bimetallism.
1t is time to tear off disguise. Inter
national bimetallism is a traitor in the
camp. 1t is false fraud. 1t can never
| be accomplished. 1t is a will o. t he wisp
dancing above the deadly marsh. 1t is as
elusive dream of magic; as idle as the
pursuit Of perpetual motion; as danger
Gus as the delirium of fiat money.
If it could ever be accomplished, which,
thanks to the inability Of several great
nations to agree, it never can be, what
would be the consequences?
ATRIAL OF UNIVERSAL BIMETALLIsM.
The minis Of the world would be open
at the ratio Of sixteen to one to any one
who cared to bring silver bullion, and to
anyextent. Any one bringing forty to fifty
cents worth of silver bullion could carry
away dollar. Do you know Of any bet
ter business than that-sixty cents on the
dollar clear profit? Production Of silver
would be stimulated enormously. 1t has
been estimated that the annual output
would rise from 500 900 600 to S40O 900 900.
The producer with his $500 profit on
every 81 900, would carry away his bags
full, and everybody would have to receive
his fiat silver dollar under the glorious
| international law. Where would they
go? Out of the pockets and safes into
the banks, and then? More and more
encountered and embarrassed by the
bulky;silver they would seek to get rid OF
| it, utterly untitled as it is for large pay
ments which the banks are expected to
make. Then would come the struggle
for gold-and then the premium.
But the premium is the death knell of
the system. 1t is a death struggle. The
bank Of England, the bank OF France,
the bank OF Germany, the banks Of the
United States, all forced into struggle
to keep the gold which is the necessary
instrument of their operations, and now
very much harder to obtain on account of
its increased relative scarcity in COM
parson with the enormous mass of re-
Gently made silver money.
The premium on gold is the death knell
and downfall of universal bimetallism.
The struggle for protection has be-
gun-the treaties are suspended free coin
age stopped, and he double standard de-
nouneed, and liquidation entered upon.
What liquidation. Following on the
eve of enormous silver coinage, and con-
sequently of imitation and speculation
such as the world has never seen! Mill
ions and thousands of millions of de-
preciated coin to be redeemed! and if to
be redeemed in gold-universal bank
ruptcy universal ruin.
THE BANKERS PART.
In these times when such things are
preached as good doctrine, when sound
money principles are Slapped and
weakened by such suggestions of COM
promise with the silver lunacy as inter
national bimetallism, it seems to me that
plain words are best. Gentlemen, am
here tonight to talk over with you the
question of what should be our part in
this sAt. Because the fight is on; this
is war for education, and all disguise
should be thrown off.
The banker has large influence if he
would only use it. He is the confidential
adviser of thousands and thousands of
business men. The business men of the
United States, great class, are peaeeable
industrious, intelligent citizens, and the
mainstay of this country as against ia
natcism and demagogism. The laboring
element comes closely in contact with
these business men. The prosperity of
the latter means the prosperity of the
daily wage Garner. Now the bankers
part is to make his clients thoroughly I'M
dersland the issue at stake and the effect
of heresy upon trade. To do this, he
must himself be we'll informed, and every
banker in these times should go to the
bottom of these questions. lie
should take firm stand on the highest
plane of sound money principles.