The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-05-25
GENERAL WARNER ANSWERS QUERIES
Tells What Bimetallism Is and When It
Was Effective.

W as GiiISiANCs
Mayor Belt presented General Warner
in a few words. adding, land his home
is in the United States" to the formal
words of introduction. The speaker be-
gan by quoting BalfOur as one of the
greatest authorities on the side of BIZ
metallism. and, referring to the fact
that many good men believed it was
right, added: If it is not, we do not
deserve to win. If it is, we are sure to,
some day. 1t may be that unless we do
in 1S96-and l incline to that opinion
that it will not come by peaceable
means"
He had been requested TO answer the
question, he said, whether silver was
really demonetized, as some persons
claimed, in 1884 or 1858, and whether as
others said, there had never been true
bimetallism in the United States. Those
who said there wasn't bimetallism prior
to 1873, he replied, either deceived de-
signingly or were grossly ignorant. 1t
was true that in 1853 the weight Of the
fractional coin was reduced the half
dollar being cut down from 206A to 1872
grains, and as a consequence its legal
tender power had been limited. But
the right still existed for any man to
take 4121A grains of silver or 25.S grains
of gold to the mint and have it stamped
into a dollar. What difference did it
make, when the fractional coins could
be exchanged for dollars or the silver
could be coined at the mint. That was
a fact, and that was bimetallism, pure
and simple. Everything depended upon
the right to take gold or silver from the
mines and have whichever was the most
convenient converted into coin.
General Warner explained the law of
automatic regulation of metallic money,
which, he said, could never overwhelm
the world if left to natural forces to
control. Even if wonderful discoveries
| were made as there was in California
in 1S49, the metals would at once de-
preciate-in other words, prices would
go up until the time came when men
would find that they could earn money
easier by producing other things than
by digging in the mines.
A second question the speaker had
been requested to answer was as to the
status of gold debts" The United
States never issued a bond of any kind,
and no law had ever been placed on the
statute books to authorize such an is
sue he said, as bonds payable in gold,
excepting only the gold certificates,
which were after all not debts but
trusts, and for which, dollar for dollar,
gold had been deposited in the treasury,
The standard had been fixed by the
constitution, he continued. Congress
had no power to change it or to set up
any other standard.
The people, he said, had contracted a
= debt in gold, and were themselves join
ing the "conspirators" to increase the
! demand for gold. The depreciation of
, gold had caused President Cleveland
e great anxiety while the depreciation o.
wheat seemed TO mean nothing to him
! The farmers of the west had seen a
e four-bushel dollar, and Cleveland pro.
[ posed to give them a five-bushel dollar
t instead. But it would always take JUS
a as many dollars to pay the debt as Il
r was contracted for. What bought bacl
the money that went out? 1t wa:
= wheat. What if old conditions were re
- stored. Would not the two-bushel dollai
[ equalize the pullback of coin in the othe
e direction? And if the people of Wash
ington voted to retain the gold STANDARD
they should not complain if their good
). to sell We're measured with a 72-incl
T yard-stick at the same old price pc
y yard.
l. How could labor, which might. by or
n gazization, succeeded in obtaining
e per day when the observation-disclosures
& they were half the population-coul
s not earn so cents, hope to be steadil
n employed? Who could furnish then
Is with food products in exchange 70
It what they produced on such a basis?
e ct tell you" he went on, 'if this keep
up the yellow man with the white meta
If will soon crowd the white man wit
IT the yellow metal to the wall. The man
ufacturing centers must surely drift
a to silver countries. If it cost
p Japan double to get gold wit
J. which to buy here she is going t
stop buying and manufacture goods heI
d self. If we lose this fight 1 shall say I
l. my son: Go to the Orient. Engage in
d manufacturing business. Establis
r yourself and you can drive the manu-
D facturers out Of your own country"