The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1895-06-07
TALKS TO THE POINT.
EX-SENATOR FARWELL FOR
FREE SILVER.
The FALL OF ROME Was Due to the
Concentration OF Redemption Money
Americans Mast Soon Show Their
Patriotism or Go Down.


law of supply and demand as the con-
elusive argument against bimetallism.
and mono but "fsols" are in favor
of such an uascientific statement as
that law can create value, even by
making an imperious demand for an
article. When men are without Argyll
ments opponents are always Tools.
Our constitution provides, however,
that the government of the United
States alone has the power to decide
what shall be money, and all govern
meats that have made any history
worthy OF imitation have exercised
that power, and in doing so have made
the most persistent and powerful de-
maRd that could possibly be made for
the use of both the precious metals as
money for centuries.
This demand (created by the law es-
tablSehes the value, and that demand
for its constant use creates the condi-
tions of stability. Intrinsic value, in
its last analysis, is the cost of produe-
tion in labor, and governments have al
ways taken this element of value into
careful consideration in selecting both
gold and silver at a fixed ratio for
money use, and yet anyone at all con-
veYsant with gold and silver mining is
aware of the fact that the cost OF silver,
In labor, has always been more than
gold at 1914 to 1. But law having fixed
that ratio as legal tender for all pur-
poses of exchange (Which is really sci
entific), gave us the combined volume
of both metals as the enc stable stand
ard OF measurement for all exchanges
of property. Silver, before was dis
cBded, was the deorer OF the two, and
the supply of both has never been suf-
ficient to msst the demands upon them
for money uses. Who, then, are the
fools and who are the knaves, with
such condition of things, in asking
any government to repeal the written
and unwTittn law of nations, which
had worked ost nothing but the best
results in trade and commerce for CEN
turtles, and thus strike more than one
half the money of the world out OF ex-
istence and then claim that there is no
demand for silver, because, forsooth,
It's ONtIpIOuuCllOH ihtu uCollOyNd us
value, and in the teeth of such law of
their own making, which destroyed
the one overmastering demand for 1t?
Was ever brazen-faced ignorance or
Implicitly more brassy than in charg-
ing bimetallists with folly in maintain
ing that the geometry and geology of
finance and trade relations, established
90 nnrfn
not scientific, when the exact reverse
has been proved in practice? Who are
the broad and who are the narrow?
Who are the theoretical and who are
the practical-those who claim that
SO 500 ,000, 900 in gold alone or those
who claim that $4,000, 900 900 in both
metals will by common legal consent
best serve the world as the money basis
of its immense and ever-growing COM
merce?
1t would seem to me that these ques-
lions need no scientific university pro-
fessor to answer them so completely
as they answer themselves, and yet l
claim that the majority of such writer's
on political economy on both sides of
the Atlantic dare not challenge the
practicability of bimetallism, nor its
utility either, as the best solution of
all the difficulties which legal ard
worldwide gold (so-called scientific)
recommendation has engendered; even
if we had no history to enforce the
proposition with it's unanswerable ar
guments.
London is today the financial clear
ing-house of the world. Will anyone
claim that her bankers have had an
easy time with this altered law of sup
ply and demand, since silver could not
play its usual part in effecting ex-
changes? II so, why have the govern
ors of the Bank of England, for the
last two decades, at least, been advo-
Gates of international bimetallism?
They certainly are in position to know
why they held such opinions when the
Rothschild class opposed it. England's
representatives at the monetary con-
ferences were all in favor of it for other
countries; even the Rothschild class
believing that with such support it
would only faiD, because the unearned
increment of their gold securities was
netting them more than the annual in
terest. Reason enough, surely, to have
the supply and demand kept so that
they would be thus served. Who fixes
the demand and tho supply when silver
is legally ruled at of the equation of
exchanges? Government or the laws of
trade? Will our scientific quill-drivers
give us some lucid arguments on this
question and let poor "Coin" and his
School rest for few weeks at least?
He must be tired, as well as some of
us laymen, over fruitless theoretical
and scientific statements, without solid
facts to sustain them. II the learned
inquisition which some journals have
scientifically set up to immediate silver
on the altar Of England's selfishness
and greed will fairly discuss such real
and burning questions as would give
a fair verdict. instead of the assumed
folly of impossible bimetallism, they
would, in search of arguments on
both, instead Of one side of the ques-
ton, become sensible bimetallists
simply by taking a course of the lead