The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-08-15
PROVO CITY.
AUG. 15. 1895
DOUBLE STANDARD.

1t is undoubtedly true that an over
whelming majority of the people OF
Utah are in favor of the free and un-
limited coinage of silver, some for the
reason that they believe it is the linan-
cisl policy which is best for the whole
people, and some who favor it because
it will stimulate and benefit the min
ing industry.
We should hesitate to favor it, if we
believed it to be beneficial to the min
ing regions alone, and we certainly
could not demand it unless we belieyed
it to be good, sound financial policy
for the people Of the east as well as the
west.
The east and west are so interde-
pendent upon each other CONNER
ciaIly, that any financial scheme that
faYors either to the detriment of the
other ought not to be adopted, hence
all discussions of finance by this writer
will be based upon the question OF
what is best for the United States as
whole.
The gravest argument we have heard
against the equal unlimited use of both
silver and gold as money, is the sup
posed difficulty of maintaining a double
standard of value. 1t is by no means
new question, it was gravely discussed
before any money was coined by the
United States, and the only differen
ces between the founders of the two
great political parties on this question,
were that Jefferson was in favor of the
United States having its own system
while Hamilton favored policy which
would adapt itself to the practice OF
such other nations as might have
single standard of either silver or gold,
but both agreed the double standard
was best for the United States and
that silver dollar should be the unit
of value
hamilton feared that an increased
production of either of the two metals
used as standards of value, would dis
turb values, and require frequent
changes of the ratio, yet he advocated
and virtually adopted the double stan,
dard, trusting to the exercise of Sim
piled powers" of the constitution to
maintain parity OF the two metals 18th
in the United States, and to diplomatic
strategy, to secure the concurrent &C.
tion of the great powers of Europe i'll
maintaining the ratio between the two
metals.
Jefferson ignorned the subtle dis |
tinction that obscurYed the brilliant in
tellect of Hamilton, inspired by the |
great truth taught by nature, that
man can see better with two eyes |
than one, although objects do photo |
graph themselves upon each Of his |
eyes separately, they are strengthened |
not confused, and the result is, man
appreciates each object more dis
tinctly; he walks better with two legs
than one, although one foot is stand
ing solidlY upon the ground whilst the
other moves forward. neither hinders,
each helps the other, and the whole
man progresses. He could not for a
moment endure hating, half blind,
one eyed, one legged system of finance,
hence was in favor of double stand
ard of Yalue-a bi-metallic system of
currency, and thus from two opposite
sources of reasoning they united in
reaching one result.
Today, the modes of reasoning are
different, we in the west, see that we
must have bi metallism, or we cannot
develop the possibilities of progress
that are struggling into action. The
people of the east need to be taught
our prosperity is q great factor in
maintaining their industries and COM
merce. We need to see, il we do not
see it, that financial system that is
not sound, will react upon US harshly,
and the people of the east need to see
that policy that cripples our indus
tries, will react upon their trades hence
whilst reasoning from different stand
points so far as sections of the country,
Or fundamental political principles are
We ought to consider the
living, burning question of the hour on
q broad American basis, and get back
in the most direct way possible to the
principle on which our financial syg-
tenn was based.