The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-12-28
silver alone as their standard of value.

silver alone as their standard of yalue.
All history warns T. against rash ez-
periments which threaten violent
changes IN Z monetary standard ard
the degradation Of our currency. The
past is full OF lessons teaching not cniY
the economic dangers, but the national
immortality that follows in the train Ct
such experiments. [ Will not believe
that the American people can &c per-
suaded after sober elaboration to ieop-
erdize their nations prestige a~d p-oal
standing b. encouraging financial nos
trums, nor that they will yield 20 ;I.e
false ~allurcInemts Of cheap money, WHEN
they realize that il must result IL the
weakening Of that financial integrity and
Tectitude which thus far i'll cur history
have been 50 dcvOtcdIy cherished as uao
Of the traits OF true AucricaIism.
Oar country indebtedness, Whether
owing by the government CT existing h.
tween individuals, has been contracted
with reference to q present s-audard.
To decree h. act Of congress at these
debts shall be payable i'll les valuable
dollars than those within the aOntem-
platiOn and intention Of the parties
when contracted would operate % trans-
fer, by the iiat Of law, and without COM
pensation, an amount Of property and Il
volume of rights and interests almost
incalculablc.
Those who advocate 4 blind and head
long plunge to free coinage il the name
Of bimetallism and protesting the be-
lief, contrary to all experience, that we
could thus establish a double standard
and u concurrent circulation of both
metals III our coinage, are certainly
reckoning from Il cloudy standpoint.
Our present standard of value is the
standard of the civilized world and per-
mits the only bimetallism now possible,
or at least that is within the independ-
ent reach of any single nation, however
powerful that nation may be.
There is Il vast difference between q
standard Of value and "a currency for
monetary use. The standard must neces-
sarily be fixed and certain. Thecurrency
may De III divers forms and of various
kinds. No silver standard country has
gold currency in circulation, but all en-
lightened and wise system Of finance Sc
cures the benefits Of both gold and silver
as currency and circulating medium by
the standard stable and all
other currency at par with it. Such "a
and such a standard also give
free scope for tho use and expansion CT
safe and conservative credit, so indis-
pensable to broad and growing CONNER
cial transactions and so we'll substituted
for the actual use of money. # q fixed
and stable standard is maintained such
as the magnitude and safety Of u COM
mercial transactions and business re-
quire, the use of money itself is on
veniently minimized. Every dollar of
fixed and stable value has through the
agency of confident credit an astonishing
capacity Of multiplying itself III finan-
cial work. Every unstable and t%luctuat-
ing dollar fails as a basis of credit, and
its use begets gambling speculation and
undermines the foundations of honest
enterprise.
l have ycntured to express myself on
this subject with earnestness and plain
ness of speech because I cannot rid my
self of the belief that there turks III the
proposition for the free coinage of sill
yer, so strongly approved and 50 enthu-
.siastically advocated by q multitude of
my countrymen, Il serious II to u
prosperity and an insidiOus temptation
of our people to wander from the ale
they to public and private
integrity. Il is because | donOt distrust
the good faith and sincerity OF those
who press this scheme that l have i'm
perfectly but with zeal submitted my
thoughts upon this momentous subject.
I cannot refrain from begging them to
re-examine their views and beliefs in
the light Of patriotic reason and familiar
experience, and to weigh again and
again the consequences of such legisla-
ton as their efforts have invited. Even
the continued agitation of the subject
adds greatly to the difficulties of a dan
gerOus financial situation already forced
npon Us.