Capital journal. (Salem, Or.) 1893-1895, 1895-10-25
GOLD STANDARD OR BINFTILISN
Vests Denial-A Rant-n,
Argument.
A BANKER AGAINST SILVER

Bankers' Association was called +,
erier by President Odel. Banke
A'dredge read paper In opposition t,
ths free coinage ofnllver.
"The proposition that this govern
ment should coin silver for the worlc
In unlimited amount at double IL,
market value Is so Tepugnaut to th,
common sense of mankind said Mr.
Aldredge, "that 1t ought to be uu
necessary to discuss 1t, and would be
but for tho fact that a portion Of on,
people bave been mised by appeals tc
their prejudice"
He pointed out that the leadipo
nations of the earth, after testing silver
for hundreds of years, voluntarily
adopted the single gold standard, aud
that no nation today has The silver
standard from choice. The gold stand.
ard advoca'es believe In gold 90 a
standard with the largest possible safe
use ofsilver among the people. The 16
to dreanlers believe in the so called
double standard and are driven by tits
law to the use Of silver alone. pe con.
tinued:
AL gold standard countries use large
amounts tf silver, and no silver stand
ard country uses any gold whatever.
As the practical question Is the use of
the metals, 1t follows that we are the
bimetallIsts, and the 10 toll people are
the allists. Hence the battle,
which Is to be fought to finish next
year, is wnether we will remain under
gold standard with actual bimetallism
In use among our people, gold and
silver circulating freely without dis
elimination against either, or sha we
have so-called double standard at the
mints and nowhere else, with silver
monometallism In actual use? We
are the friends of silver money, who
would bring to Its aid the power of the
government to keep 1t good, aud there
by not degrade 1t to its market value.
Our government has been and Is now
coming silver at the ratio Of 10 to /.
1t Is enabled to do this because under
the law 1t can restrict the amount
coined and being vested with this con-
troll 1t undertakes to make every dollar
good money.
Interest has declined since 1872 In
my part of the country from 8 per cent
per month to to per cent per.annum.
There Is no denying the fact that the
gold bugs did that. The South and
West have paved more ON the decline
of interest TIA they Lave lost In the
decline on wheat aud cotton. Interest is
always low under an honest standard,
among honest people, where money is
plentiful. 1t is lower In London than
any other spot on the globe, because her
standard is stable and her commercial
integrity has been the care OF her
statesman and her people for past ages.
1t IL repudiation of debt and not coin
age that the l6-to.1 man is after. AL
low me tn say in CONCLUSION, that our
is in no danger Of reputation.
This IG-to-l coinage clamor is but one
Of the manifestations Of hard times,
brought on by the late panic. In spite
Of all the 'lsmsIthat have afflicted US,
In spite of demagogism on the stump
and in the legislative halls, the country
S rapidly advancing. Our factories are
,axed TO their utmost with orders, and
wages of their employees have been
very where voluntarily raised. Prices
which have been depressed by the
,anic are improving. The American
,eople are honest and patriotic.
At the conclusion of Judge Aldr-
dge's speech the enthusiasm which IL
,ccasloned broke out again in three
learty cheers. On motion, the speech I
vas ordered printed and sent to every !
National, State and private bank in the
1nited States. The convention adj '
ourned until tomorrow.