The Neihart herald. [volume] (Neihart, Mont.) 1890-1901, 1895-12-07

coinage.
The act of July a, 1890, in still
bolder effort increased the amount Of
silver the government was compell-
ed Ia purchase and forced it to be-
come the buyer annually of $1,000
600 ounces or practically the entire
product of our mines. Under both
laws silver rapidly and steadily de-
clined invalue. The prophecy and
the expressed hope and expectation
of those in congress who led in the
passage of the last mentioned act,
that it would re establish and main
tain the former parity between the
two metals, are still fresh in our
memory.
In the light of these experiences
which accord with the experiences of
other nations, there is certainly no
secure ground for the belief that an
act of congress could not bridge an
inequalito of fifty per cent. between
gold and silver at our present ratio,
nor is there the least possibility that
our country, which has less than one
seventh of the silver money in the
world, could by it's action alone,
raise not only our own, but all silver
to it's lost ratio with gold. Our at
tempt to accomplish this by the free
coinage of silver at ratio differing
widely from actual relative values,
would be the signal for the complete
departure of gold from our circula
ton, the Immediate and large con-
traction Of our circulating medium
and shrinkage in the real value
and monetary efficiency of all other
forms Of currency as the settled to
the level of silver monometallism.
Every one who receives fxee sal
airy and very worker for wages would
find the dollaa in his hand ruthlessly
scaled down to point of bitter dis
appointment if not to pnching priv
alton. A change in our standard to
silver monme etallism would also bring
on collapse of the entire system Of
credit. which when based on stand
ard which is recognized and adopted
by the world of business, in many
times more potent aud useful than
the entire volue of currency, and is
safely capable of almost indefinite
expansion to meet the growth of
trade and enterprise.
In self-nvited struggle through
darkness ond uncertainty our humil
tation wouln be increased by the
consciousness that we had parted
company with all the enlightened
and progressive nations of the world
and were desperately and hopelessly
striving to meet the stress of modern
commerce and competition with u de-
based and unsuitable currency, and,
in associating with the few weak and
laggard nations which have silver
alone as their standard of value. All
history warns us against rash expert
ments which threaten violent changes
in our monetaey standard and the de-
gredation of our currency.
Our present standard Of valuei is the
standard of the civilized world. and
permits the only bimetallism now
possible, or at least that is within the
independent reacn of any single ma
ton, however powerful that nation
may be, while the value of gold as d
standard is steadier by almost uni.
versal commercial and business use
1t does not dcspise silver nor seek
its banishment Wherever this
standard is maintained there is at it:
side i'll free and lunqucslioned circu
lation Il volume Of silver currenc,
sometimes even exceeding it il
amount, both maintained at part,
notwiths anding depreciation OF
fiuctuation in the intrinsic value o
silver.
In conclusion | especially entrea
the peoples representatives in thi
congress who are charged with thu
responsibility of inaugurating meas
ures for the safety and prosperity o
our common country to prompt,
and Effectively consider the ills o
our critical financial plight. hav,
suggested remedy which my judg
. ment approves. ] desire, however
to assure the congress that am pre-
pared to cooperate with them in per
fecting any other measure promisln,
thorough and practical relief, an
that 7 will rladly endaayor IN furtha