Potosi journal. (Potosi, Mo.) 1894-1929, 1895-07-24

Dul bccdttSc We lof'i IL oil d ij.'iitl
with gold.
| point to the fact that silver in
recent years has vacillated tn price
to such an extent in the open mar
kct as to render it impossible for
any Government to adopt coin
age ratio that that will correspond
for any considerable period of time
with the market ratio. Finally,
and to put at rest all doubt on the
on the subject, | challenge each
and every man in this audience to
name one country in all the world
where the bimetallic standard is now
maintained. No one can answer,
for there is no such a country ON
the globe.
II now challenge each and every
man in this audience to name one
country in all the world where the
free coinage of silver obtain that
is not absolutely on silver basis.
No one has answered, for no such
country exists.
Il say that the irresistible eonclu--
sion is that Mr.. Cleveland was right
when he. said that the proposition
to coin silver as standard money,
at the ratio Of 16 to l, means neither
more or less than the establish
mcnt of silver monomctallism
in the United States.
''The adoption Of silver as stand
ard money at the ratio of 16 to l
would give the United States two
standard dollars, one of the bullion
value of a 1O0c and the other of the
bullion value of sic. Each being
standard money and receivable
for all public and private debts, the
result would be as we have already
seen. to force gold out of circuits
ton and bring this country abruptly
to silver basis. We would there
fore not only dislocate trade in all
its branches by sudden change of
standard, but be deprived of gold
money amounting to more than
5000, 900, 900. which is absolutely
necessary to the commerce of the
country. 1t would bring about
such a state Of business paralysis
and distress that the people would
have to struggle harder for a silver
than they do now for gold dollar,
and when they secured it, it would
not buy more than half the com
forts of life.
Il prefer gold as the standard,
ecause it is the money
of progress. l challenge the advo-
cate of free coinage of silver to
look abroad over the world, in
either hemisphere, or on any con-
tinent. and name one country where
trade and commerce flourish; one
country where mechanical arts and
appliances are manifested in the
development of industry and enter
prise; one good government pre-
walls; or one country where a days
wages are sufficient to maintain
the man who earns it in comfort
aud independence, which has the
silver standard.
II prefer the gold standard
because there is not gold standard
country on the globe which does
not largely utilize silver as money,
whereas there is not a silver stand
ard country which uses gold as
money at all.
81 prefer the gold standard
because it is only in the gold coun
tries where sufficient volume of cur.
rency is to be found to answer the
purpose of trade and commerce
Our Populists and free silver friend:
constantly clamor for more money.
and ifthereis any oneidea to which ;
Populist is more welded than every
other it is the necessity of a large
per capita circulation. Yet, the
advocates of free silver are pursu
ing a policy which, if carried out
would inevitably drive gold out anf
and reduce very largely our PEE
capita Of circulation.
}, Prosperity prevails in no countr,
which depends on silver for it
standard because silver itself i
constantly vacillating in value an'
can only be the basis Of a vaciliat
ing and cheap paper money.
. Hence it is there is not to be foun.
) one silver country on the glob
which has as much as IS per capit
of silver in circulation while on
own country has more than 50. I
} comparison of Mexico, the mos
prosperous silver country, with on
: OWL teaches q most nrntitahle les