The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-13
nearly two years since this public pledge
vas given. 'Tis high time ii was re-

nearly two years since this public pledge
Vas given. 'Tis high time it was re-
deemed.
Ratio and parity are two words much
used in This discussion and have expert
enced similar fortunes. When II Is pro-
posed by us to restore silver to full coin
age. parity is spoken of as invincible
objection. How has parity been maintained
from 1872 10 1895? by law. In the same
the same parity. For this parity by law
we have voucher-the fact of more than
eenturys maintenance, Parity and ratio
for that hostility TO silver which its enc
mics would prefer TO disguise In the
ii is spoken to-day, parity means no sill
yer: ratio means nothing but gold They
have put silver under duress. We would
make IL free. as before.
STABILITY OF VALUES.
Much has been written of the stability
of the value of silver and gold. concern
ing which it may be said. both these met
ais are variable in value. Each changes
IN value from time 10 time. like other
commodities. but they vary in value in
finitey less than any other commodity.
We have an instance quite modern in our
own history of these changes in values.
Many of us recollect very well that as
recently 1915 We saw the golden sheaves
make obeisance 10 the silver sheaves Our
the gold at that time. Now, III we bimet
allists had been disposed in 1873 10 treat
gold in the same manner as its enemies
have treated silver. and if we had adopted
their theory of honest money. here was
u valid reason for the decentralization of
gold-none for that OF silver. We did not
propose to demonetize gold, because lis
dollar was worth less than the silver dollar
and we do not think to-day that the silver
dollar was any better at that time than
the gold dollar, because the metal in 1t
was worth more Both kinds of dollars
were equally good money. The law made
them such. This is the province OF govern
ment The municipal law will always have
this authority as long mankind retain
their opinion of the scarcity of the two
precious metals and their opinion can never
be shaken or lessened by the incredible
myth. the unbeleved sophism that the bull
lion value of the metal I'm coin must
be the same as its standard legal value.
1T is said that if we restore silver TO
free coinage gold will leave Where two
or more kinds of money circulated together
the inferior VIII drive out the better cur
rency. This rule, save in very rare in
stances. has no application to coin. But
what party in our country is seeking TO
debase its coin? Who has advised the de-
basins of either the silver or the gold dol
lar? They have stood side by side. hand
in hand, of the same party. nine-tenths
peace and war, for better, for worse, in
prosperity and adversely. Silver and gold
have been too long married to be now di-
vorced.
THE loss of our gold the departure of
our gold will, as some opponents say, bring
about depression. Yet gold stayed with US
from the beginning in usual quantity and
proportonate until 1873, when we ceased
coming silver. From 1873 until 1873, while
silver was not coined, gold touched low
silver again, gold returned in larger sums
than ever, and stayed and increased with
u.s. Since we ceased the coming of silver
in 1893, during 1S94-95 gold has left us again.
The flight of gold has recommended. Sure
ly, this was not caused by free silver coin
age. Experience teaches us in this way the
lesson that the best way to keep both is
to coin and use both on terms Of equality.
IL is certain that we are largely in debt
This debt is deemed to be inextinguishable
in gold. However that may be. ii is certain
that il will be very greatly increased if il
be made payable in gold only.
''The faith of the advocate of a single
gold standard is compounded of one truth
and one pernicous error-that coined stand
ard dollars should be of equal legal value
is true, but that the metal in them must
be of equal bullion value is a fallacy so
contrary to our common sense and expert
ence that it cannot be much aided by
prophecy Let us, as bmetallists, remem-
great Republic, dealing calmly and DELHI
erately with our own highest interests.
Let us take counsel cf faith and hope. Let
us go forth with manly hearts, without
fear believing in all confidence that the
silver and gold dollar OF our mints the
money of the past. sound tried and true,
shall also be and remain the money of the
future. -"
Senator Turpie was accorded another
round of applause when he finished his
sneech