Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-12-06
No Excuse.
Silver Knight.


ever for demonetizing silver in 1873,
the propricty Of that act might be dis
cussed; but in all the predictions, as
sertions, and threats of the goldites
they have never told us why they
demonetized silver when the silver in
the silver dollar was worth three cents
more than the gold in the gold dollar;
nor have they even pointed out any
injurious result from use OF both gold
and silver. On the contrary it is
universally conceded that up TO that
time bimetalliem was a benefaction
When we ask the goldites, whose legis-
lation rejected silver, and why thOy
did it, they say" no matter why we
did it; it is done, and there Is no
remedy for it," When We say to them
that there is not gold enough and that
there was never too much money when
both metals were used, and that the
rejection of one contracts the money
volume fully one-half, and inasmuch
as the arts consume all, or nearly all
of the output OF gold, contraction must
be perpetual if population increases
while the supply OF gold does not in.
crease, they give us no hope OF relief.
If the demand for money increases
and the supply remains the same
prices must fall and continue to fall.
Ii this evil of continuous falling prices,
which is the greatest financial evil
which can happen because it has
always extinguished every civilization
which was so unfortunate as TO have
less and less money as compared with
population and business, which made
the purchasing power OF each dollar
constantly increase and the value OF
property constantly fall, is not
remedied, our civilization is doomed.
No example in history can be given
where such condition OF things did
not lead TO barbarism and slavery.
Falling prices take away all motives
for enterprise. 1t stops business,
creates enforced idleness, which is
always followed by proverty and want
The wealth OF nation consists in its
capacity TO produce. The labor OF the
people every two or three years re-
produces the entire wealth of the coun'
try, but producing never has been and
i never can be successful when property
created by labor is constantly growing
cheaper. With these evils before u.
the goldites suggest no remedy. The
President OF the United States exhort'
the people who suffer to patrioticall.
endure the afliction Of falling price
and hard times for the sake of SCUM,
money, by which he means money
the purchasing power of which i
more than double what it was twent.
years ago; money which has NOR
than doubled his salary and the salar.
of every Federal official in the Unite,
: States; money which has doubled tn
obligation of every contract. That j
: the kind of money which Mr.. Cleve
land says the laboring man shoul
vote to maintain because his wage
are paid in money. But neither MI
Cleveland nor any other goldite tell
} the la6orer the whole story, namely
1 that on falling prices he can have NJ
e wages. Trades unions and labo
5 organizations may for time resist IN
!. cutting down of wages, but if they sci
at all, will sell at starvation
: prices, the factories and other bus
e ness establishments must stop O
| reduce wages. The end and aim c
$ every gold standard man on earth
: to reduce wages, and however, he ma
j gloss his words he has contempt fo
: labor. No man is a friend OF tn
!, laborer who advocates condition {
5 things which must necessarily plac
us back to the servitude and slavery {
|. the fourteenth century. The idea {
}, an American citizen claiming to be
3 friend of labor when he joins GlaC
} stone and others in maintaining tn
n gold standard for the sole purpose {
IS adding to the burdens of this countr
e and making the United States sui
d serivent to the commercial supremac
d OF Great Britain, is absurd.