Capital journal. (Salem, Or.) 1893-1895, 1895-01-09
aAw AMERICAN STANDARD
..cq t',l ,Sa 0r- Gwn Money stan
0.rd a. ,.sfa ire World

will say that gold and silver coin 's
honest money. IL has been honest
money ever since can remember, over
60 years. 1t was always land-oflice
money, and notes were in some cases
drawn payable in land-otfice money
of the United States" This was done
to shut out wildcat, or states rights
money, such as the Populists now
want.
Paper currency Ia all right, If it
stands on a metallic bottom. Gold and
silver form that bottom, and it takes
both to make a foundation large and
strong enough for US all to stand on,
and we will surely stand on it sooner
or later. Any other policy would let
In the rag money party, without any
bottom at all.
The single gold standard will not do
for our government. Gold can always
be boarded, and misers can bury it out
OF sight and use. Brokers will keep up
constant huctuation between the two
metals, unless we have fixed standard
value II our own, fixing their own re-
laiion. Now, 10 to ! was about the
difference between the two metals from
the years 1857 to 1873. 1t never ex-
actly reached l6 to for a period OF 1856
years, except for three years during
that time.
Then silver began to increase in out
put. all On account of American energy
aud improved machinery, though the
relative value based on labor Of the two
metals was, according to mint reports,
only IA! to |.
1t IL safe to say that the actual parity
OF the two metals, as it lies in the
bowels of the earth, is nearer rs to |
than any other ratio, and both put to-
Rether are not enough for good busi-
ness circulation. There are very few
people who know the actual small bulk
of the two metals. If all the gold out
Of the earth now (ayailable for coinage,
not in the earth) were melted it would
fiji box % feet cube; all the silver
would only ill one 6G feet cube. There
1t Ia all in nutshell. The magnitude
and pOnderosity are not 80 great, but
that with our Increased population and
civilization we could well afford 10
have boxes Of 1t twice a. large. Some
people and some newspapers speak
about supply and demand regulating
the price Of silver, the same as articles
we eat and drink. But In order to in
sure ourselves food and raiment, gold
and silver money should have fixed
purchasing value, Ia order 10 obtain
the wavering necessities Of life.
II VIZ have 10 have one standard, by
all means, let that be silver, Just AZ il
was from the foundation Of the govern.
ment prior 10 1873. Then silver was
clandestlnely demouetized for the ex-
press Interest Of money brokers ard
English bOndhOlders. II Is reported
aud tolerabiy we'll authenticated that
English magnales put up 5000 OOJ 20
accomplish the demonstration Of sill
yeri but Il il said that 10 their surprise
and delight only 500 00o we're required.
Gold then became the tiAudltd aud
AL obligations had to te redeemed
in gold. silver 8rnt down, the mines
closed, smeltefs ceased operations aud
depression and slagnailon arc the re.
suits nov.
Where D. the remedy
"lhe gfratfsi good 90 the greatest
numoeis' All Americans viii admit
Ia solid pnncipie. iios would ihis
plan wofh tuIu all lhs .a.iy,r aud
gold lhai ean 90 produced iu America,
Including hsAico aud Douiuiou Of
l'andal should ihey drsirr to upsfal,
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