Willmar tribune., 1895-03-12
IN EXPLANATIONS: I:

they are often used by different persons
with different meanings in their minds:
and as often understood by readers to
mean different things ~-
All silverites are bimetallists, but all
-bimetallists arc not silverites.
A silverite means one who advocates
the free coinage of silver at all the nints
Of the United States upon the same
terms as gold, and with fixed ratio to
the last named metal.
"goldite''-a term coined, l think.
by President St. John of the Mercantile
National bank-means one who advo-
Gates free coinage of gold only, to the
exclusion Of silver and the measuring
Of all values. including the value Of
silver, by the single standard of gold.
There are possibly few extreme sill
yer men who would like to see gold de
MED free coinage. and silver put in its
place as the single and only standard for
measuring the values of all other things,
including gold, in this country. l know
of no advocate of free silver coinage who
has taken that position. Any silverite
who should take up that attitude would
no longer be bimetallist, but silver
monometallist
Bilnetallists arc of several schools.
Some of them say they believe in it ASA
sound theory. but are against any at
tempt to apply 1t, because they think it
is impossible in practice. They say they
would like to see it tried whenever Eng.
land can be- induced to issue her permits
tor that purpose
AS England will probably wait long
time before issuing the permits, the
wait for England school of bimetallists
have been aptly and wittily described as
by and by metallista
Then there are bimetalltsts who be-
lieve international agreement is necee.
sary 20 make bimetallism success, but
do not believe in waiting for England.
On the contrary, they believe in forcing
England's hand by forming an Ameri.
can tariff and monetary union and dis
eliminating against British imports un.
til the London government shall be CO.
creed into accepting bimetallic basis.
Again, there are bimetallists who ia
vor admitting silver to free and equal
coinage with gold at all our mints, with
n prohibitive tariff against foreign sill
yer. This would be bimetallisu,, with
silver coinage limited to the product of
our own American mines.
Straight bimetallism is the doctrine
that the two metals-gold and silver
can and ought, at the same time. in the
same country, to be adopted as stand
ards Of value and to bear to each other
a fixed ratio established and recognized
by the government. Straight monomet-
allis1n is the doctrine that only one
metal can or ought SO to be used.
1t is the contention of the strictly in
ternational school Of bimetallists that
attempts to realize bimetallism must
fail unless the most important CONNER
cial countries unite in fixing The ratio
between the metals "
Silverites. per contra, contend that
this government, acting alone aud indie.
pendent]y, can and ought ito give free
coinage to silver as we'll as gold at
ratio fixed by itself.
The silverites claim, further, that this
is true bimetallism, because it is the
only practicable step this country can
take toward restoring the two metals to
equal use as standard money.
Silverites contend, too, that America
alone could uphold bimetallism, freely
coming both gold and silver, without
the cooperation OF other nations, and
point to the fact that France actuallv
did SO for 20 years, though a much
smaller and less resouroeful nation.
Bimetalli<m was in practical opera.
tion in France from 1903 to 1878. 1t was
established there in 1903 by Napoleon
At that timo the English currency sys.
tenn also was binletallio. Bimetallism
had been established In England in
l7l7, Oh the recommendation OF Sir
Isaac Newton, then master Of the Eng
lish mint 1t was not abandoned by
England until 1916.
From 1903 to 1873 the French mint
was opened for the unrestricted coin.
age, whether Of gold or Of silver, either
metal being accepted for coinage in the
ratio of 151t to THAT is. for instance.
l5x q ounces Of silver or ounce Of gold
was coined into an equal cum of money:
In 1865 the same arrangement was
adopted by the other countries. of the
group known as the Latin union-Bel-
GUM, Switzerland. Italy, Greece
Down to 1878, then, any one in any
part Of the world who had either gold
or silver bullion to dispose Of could have
taken it to the mint Of any of those
countries and have it there made into
coin.
Here, then, are the three points of the
bimetallio system as it was carried out
in those countries. First, any given
quantity Of gold bullion was always ex-
ohangeable at the mints for its weight in
gold coins, and any given quantity Of
silver bullion was like wise exchange:
able for its weight ID silver coins. Sec.
ondly. the coins given out in return for
any weight Of standard gold bullion
were Of 15H times the value Of >those
given out in return for the same weight
Of silver bullion. Thirdly, all those
coins, whether Of silver or of gold, were
illegal tender" within the country for
the discharge Of all debts to any amount
New, York Recorder. s. =. Il -.
lndiana's Librarian. - IL
Mrs. Emma L. Davidson Of Peru has
been elected state librarian for Indiana.
Miss Nancy Baker Of indianapolis was
q close OOmpetitor. receiving in the