The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-05-22

Dy tHem nave Inc same possession OF th6
public mind as the critics of Columbus
had, and those who contend for financial
independence from Europe can be class
ed with the followers OF that great navi-
gator, whose minds were in advance of
the ages in which they lived.
This nation can have an independent
financial system without any reference
whatever to the balance of the world,
and can carry on its own commerce by
ocean and by land with the other gov
ernments of the world Notwithstanding
We do not now settle our balances with
Europe in coin except on its own COM
mercial value and by weight. Our coin
age has nothing to do with it. Primar-
lily, balances of trade are settled with
trade We give them our wheat and
we take their silks, and the balance that
we may owe them or they may owe us
will be settled just as the merchant be-
tween the important points may agree
to settle it. They can settle it in gold
at so much pennyweight, as measured
IN the money of their country or our
country, or in so much silver, or in so
much copper, or SO much of any other
merchandise may be agreed between
them in their trade relations There is
no such thing as international money.
What we are contending for is the
opening of the mines to the free coin
| age of silver (they are now open to the
! free and unlimited coinage of gold and
have never been closed to that metaD,
and the establishment of bimetallic
| money that were adopted by those
statesmen who had in view interest of no
class but of all the people What we
want is bimetallsm. And scientific BIZ
| metallism is this:
Il. Free and unlimited coinage of
both gold and silver; these two metals
to constitute the primary or redemption
| money of the government
20. The silver dollar of 371A grains
| OF pure silver to be the unit of value and
| gold to be coined into mouey at a ratio
to be changed if necessary from time to
time if the commercial parity of the le-
gal ratio shall be affected by the action
of foreign countries.
"3 The money coined from both met
| ais to be legal tender in payment of all
debts
"A. The action as to which of the two
| monies is to be paid in the liquidation
| of debt to rest with the debtor, and
the government also to exercise that OPP
ton when desirable when paying out re-
dempt1on money. The minis are now
open to the unlimited coinage of gold
Such portion of the product of that metal
as does not find an immediate demand
| to be used in the arts and manufactures
| is taken to the minis and coined into
| money-into money-and becomes at
once the object for which all other pro-
ducts seek the market. 1t thus has an
unlimited market, as the minis are open
| to all of it that comes.
This was true also of silver prior to
1873, but by the operation of section 81,
Of the act of that year, the minis were
closed to the unlimited coinage of that
metal. Hence, when silver now seeks
| the market and exhausts the demand
| supplied by the arts and manufactures
and the small purchases of the govern
ment to coin it into token m1ley, the de-
mand for it ceases. Gold has an unlim-
| tied demand. Silver has limited de-
mand. Silver is now commodity to
be measured in gold. It is an object to
be gored and kicked by bulls and BEARS
1t is shut out from the United States
| mint 1t is token money. 1t has been
deprived of that unlimited demand it
enjoyed prior to 1873. We would re-
store it to that unlimited demand. We
would open the minis to it again.
I'VE would again make the standard
silver dollar the unit of value as it was
before 1873 It would thus be dollar
and the bullion in it would be worth
dollar, as the number of grains of bull
lion in a dollar would have the right to
walk into the mint and be coined into a
dollar. No man would take less for it
when he could have it coined at pleasure
into dollar. We would make gold coins
| the value of so many silver units or dol
| lars as the law existed prior to 1873.
Silver is the peoples money. It was so
| regarded by our forefathers and was the
| favored metal of the two. 1t was given
| the position of honor in the coinage of
| our two metals by having the unit of
| value made from it, and gold, it's COM
panion metal, measured in it.
Gold is the money of the rich. This
was to be government of the people,
and the peoples money was to be the
| most favored. Twice when the CONNER
| cial ratio between the two metals made
| it advisable to change the legal ratio.
the change was made by recoining the
gold coins. This was in 1884 and 1887.
The spirit of our forefathers then lived
in their sons. The gold coins were
changed in weight and size In 1884 the
gold eagle had IL grains taken out of it.
In 1887 the gold eagle had two-tenths of
| a grain added to it. No change was
ever made in the quantity of pure silver
| in the silver unit. There was to be no
-gold-was recoined when the CONNER
cial ratio changed to interfere with the
legal ratio. This is the law we would
| re-enact.
1--WE would make both legal tender
in the payment of all debts. We would
| repeal the law of 1873 and the Sherman
law Of 1890, authorizing contracts
(bonds, notes and mortgages) to be TAX
| en- payable in gold only. We would al
| low no discrimination to be made in
the legal tender character of the two
metals. We would allow no private in
| dividual to dictate to the government
what its legal tender money should be.
We would place the white metal on an
| equal footing with the colored metal.
without regard to previous condition of
race or servitude.'
I'VE would give the option to the
debtor If there was any preference as to
which of the two he would use in the
payment Of a debt. A break in the COM
mercial parity causes the cheaper metal
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