The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1895-03-23

Haruourt did not IS q risk = party
vote on The resol ution ri snother inter.
national conference. Undoubtedly s1aree
majority 81 the voters country IRE bimet-
alises III theory but many of them real
ize that silver Ieeislation means national
discrelliit. Even Presid ent Cleveland
claims q be q biilm,eta1ist but ii practice
We know that he is thoroughly SIMON
olnetalist. MI. Balfour, the leader 81
the Conservative part q Great Britain
10 ii favor Of bimetal lism, and il ise q
said that the house Of Rothschild has i
been converted.
It may be safely said then. that q \
great majority Of the world Is thoroughly
5bimetalist but this proves nothing hnt
abstraction with the present money
standard. Tho whole question IS one be-
tween creditor and debtor, between
money lenders and money borrowers, be-
tween producers and consumers. The
creditor class demand the payment of
the debts dine them il the same me money
for which the debts were contracted.
They justly resist cheap money which Oh
wonid amount to 9 population Of part
Of the liabilities. The producers are il
favor Of any change which would increase
prices. The person who has either labor
or material to sell IS in favor Of bimetal-
ism because he believes # would increase
prices. The, man who has neither labor lab
Tor material to sell but who Is constantly
buying both, is in favor Of q currency
system which will give the highest pos
Isible purchasing value to his money. We
have given this subject some thought
with q predisposition to be bimetalist
and even silver advocates because It
seemed that our lot was naturally cast il
that direction. But we remain convinced
that bimetalism is but an alluring and
deceptive theory We wholly fail TO IN II
derstand how Legislative acts can give g
fixed value to- two different metals Of
different intrinsic valne produced il
vastly different quantities. It may be
stupidity or lack Of proper presenltta-
ton Of the subject. If it is either we
earnestly hope that the obstacle may be
overcome for we would gladly surrender
any present prejudice il favor Of any ny
measure or reform which would relieve
the financial severity Of the past two
years But meaningless cry for the
'smoney Of our fathers epithets hurled q
at the s1gold bugs, !" ..baseless assertions ia i:
regard to the demo netizatlon of silver
are not convincing nor il any degree Al Ar
gunner tative. How can Legislation keep
two metals, at the same ratio, which are
produced il different and vastly varying
quantities.? How can two standards
leach independent Of each other be- main-
tanned? There never can be two stand
ards. Free coinage in both gold and sil-
YER would result in just this, the cheaper
metal would drive the dearer metal ont
of use, and inevitably, because every man
would pay his debt il the. money most
easily acquired. ], i. N s. y.
The result Of this would be that We
would be on single standard again and
that standard would be the cheaper me-
tai. Silver men are constantly talking
about the characterization OF silver. Az
a matter Of fact silver demonet1zed itself
because it had increased in price until it
was practically out; of use. They talk
about the time when we had g double
standard. \ ia theory We had double
standard but in practice never. From
1910 to 1890 silver had increased in value
to such an extent that gold which was
then produced in great quantities forced
silver out Of use. Congress several times
changed the ratio in favor Of gold and in
few years that ratio was entirely wrong.
There never was or never will be two
standards in this country. Both metals
can be and should be used but one must
be based on the other, one must be the
standard and the other subsidiary. But
bimetalism is q live question and deserv-
ING Of the most careful consideration.
Silver lie gaining Ia strength and will be
the rock on which parties will wreck IL
the next Is years. Intelligent contro-
versy On any subject .is to be desired.
We are not opposed to silver because il
[is silver, we are "a favor Of silver il 2
change to 9 silver basis can be made
without creating panic AMI without
the. destruction of public and private
credit. But it seems peril ctly plain that
either one Or the other must be the
standard. Legislation can never make
two standards and keep them equivalent.
81 D. NJ. LAwIER delivered the st. Pat
rriiok's day address at Hastings Tuesday
evening. MI. IaWler is one q the few
men whose popularity has been Increased
by taking part - politics He is now.
counsel Tor the Chicago Great Western
Railroad but he finds time 70 make :
spee Oh occasionally.