The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1895-06-08

from this time the issue of treasure
notes nomlnally secured by silver bull
hon but actually redeemabIe in po,d
began to pass the point of safety. What
would nave been far removed from in
nation with silver and gold at a mar.
ity became dangerous because restint
only upon a narrow foundation NJ
eold. The structure of paper monay
was built higher at time when half
the foundation (silver) had crumbled
away and the other half was being dug
INTO 10 supply the increasing needs OF
European nations. Coexistent with this
was great Industrial activity and re-
suiting increase in actual wealth. With
the volume of actual money constantly
diminishing and the volume of wealth
increasing disturb ance in the ratio
was inevitable.
In every market in which the natural
tendency OF prices is downward the fall
IN prices is resisted by an accumuIa-
tion OF stocks. The classes who buy to
sell at profit will hold property once
oought as long as possible before SELL
ing at loss. They will strain their
credit to the utmost limit before aban-
doning the effort to sustain prices.
mortgaging their property, borrowing
on collateral, exchanging accommoda-
ZION paper and delaying the payment
of their bills.
1t is the misfortune of silver that IT
has been hanged first and condemned
atterward," Previous to its demone-
tization in 1873 it was worth most OF
the time more as bullion than when
coined at the ratio of 16 to l.
1t is proposed by its friends to re-
store to it the rights as a money meta,
which 1t enjoyed prior to 1873, and
which were taken away quietly, almost
secretly, without any public demand
and without any of the reasons which
are now so DANGEROUSLY urged against
It's restoration. That a re-establish-
ment of the parity between gold and
silver would benefit this country no
fair-minded man will deny. Whether
the commercial influence of the United
States is sufficient to stem the tide and
offset the influence of the European ma
tons who have adopted gold standard
can hardly be ascertained without an
actual test, but when we face the con-
| tingency Of gold going to premium,
nothing is seen which will affect unfa-
Vorably the prosperity of the country or
make such a change in values as would
work hardship to the creditor class.
1t has been argued that silver money
cannot be coined with sufficient rapid
ity to replace the gold displaced. 1t ia
not necessary that " be coined at all
| There are in the treasury of the govern
ment 1863 100000 silver dollars in addi-
| ton to those now in circulation.
| With this immense reserve silver GER
tifcates calling for silver dollars and
made legal tender in the payment OF
| debts could be issued on the deposit OF
| bullion, and since there would be no
| question Of the ability of the govern
ment to redeem its promise would cir
culate as the very safest form Of paper
money, preferred for the settlement Of
all large balances to the coin itself.
The United States produced in 1890
nearly one-third of the worlds produc-
ton of gold. 1t will always as nation
| have gold to sell as a commodity in the
| best market 1t can find. 1t mined in
| 1890 three-fifths of the worlds produc-
| tlon OF silver, and so far from being
flooded In the event Of free coinage with
| silver from India, China and Japan
will always have silver to dispose of al
its market price in exchange for the
products Of other nations and in pay
| ing principal and interest of its securi-
| ties held abroad. The United States, as
| a nation, is a debtor nation. The
greater part of Its debts were contract
| ed on a bimetallic basis when the dollar
measured in wheat was worth bushel
The Measurement of Values.
Money Is the universal yardstick
Now an honest yardstick must always
be thlrty-six inches long. Whatever
length was laid off and called yard at
the beginning must always be yard
If merchant uses yardstick only
| thirty-two inches long he Is dishonest
and his yardstick is a dishonest yard
stick. II on the other hand the Gus
toner after contracting for cloth brings
forty inch rod and insists on its be-
| ing used as yardstlck ne VIII De Bus-
pected of dishonesty. When we com
pare the value money length of all
| staple commodities we find that the
yardstick of value has been made long
er so that each dollar will purchase
more of almost everything than 1t once
could. The single standard dollar Is .
dishonest dollar.
Legislation which will increase val
ues by making our monetary unit BIZ
metallic unit, raising the price of sill
yer and all other staple products and
releasing our gold to the settlement
of foreign Indebtedness has not the
slightest element of dishonesty. 1t is
lust because it will restore to the prod
ucts of American labor the debt-pay-
ing power which has been taken away
by class legislation.
1t Is patriotic because 1t will promote