The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1895-11-08

rtt't aiHNC tti' i'''l
United States standard. - .
during the period OF t.r''' 's.'
progressive demoneti.ati"u % - IS,
and of gold ACKNOWLEDGEMENTS h'>
gone from 1898 to 80.
ENGLAND AND DEMONErIZATInN.
England attempted he '' u"
ton of silver in 1916 ~i'i" OF.
countries continued to aditr t" 'nr
double standard Bat q ''"H. 'f~-
carded silver in 1871, lir" in't''d
States 1873; silver coina-'' - s'nii
ed in France, Belgium n'..f II =
land in 1874, suspended ~ if''ha'id
and Switzerland in 1878, and IN
France in 1876; the minis If India
we're closed to silver in 1897 and ia
ratio of silver to gold fell t" 30 II
present ratio, BimetaHStS r."
folly of the last twenty ye,rS t" ia
wisdom of the 214 previous Years.
| 5. Bimetalism gives create, si.,Ii.t
to commercial affairs and t., ih,4 N
OF property than m"nom'talli~'" &"
either sort.
The effect OF the annual additions
by the products, of the mines to, the
metallic measure of value is distrbut-
ed over q larger mass of money and
operates more slowly than would
monometallism. The smaller the
quantity of metal which is the meas
ure of the worlds values the greater
will be the fluctuations in the prices
of property caused by new discoveries
of the metal.
The attempted change from bime
tallism to gold monometallism is more
injuriously affecting the prosperity of
all mankind, except the creditor
classes The money metals of the
world measure the property of the
world. Hume said: "Ihe prices of
everything depend On the proportion
between commodities and money"
Locke said: "For the value OF money
in general is the quantity of the
money in the world in proportion to
all the trades Therefore withdraw
al of one-half of the metals causes an
appreciation of the other half and a
widespread fall.in the prices of proper
ty. All writer's concur in this con-
clusion. 1t is folly to say that paper
used as money hinders this result
All paper money is unsound which is
not based uponr and redeenable at
sight in gold or silver, and the same is
true of all commercial paper, notes,
oils of exchange, checks, and drafts
which circulate AS money. The meas
ure of the value of all the property of
the world measures the whole gold
and silver of the world Shorten the
measure by One-half and you lower
those values one-half. Prices of prop
erty go ruinOusly down, but debts con-
tinue the same and must he paid,
principal and interest, in dearer and
scarcer money. A notation is made
| to every creditor; wrong and oppres-
sion are inflicted on every debtor.
BIMETALLIsTS WILL WIN.
o. Unless all the nations agree to
demonetize silver, agriculture, and
manufactures and other important in
dustries will increase and prosper in
the countries which continue to use
silver, at the expense of those which
accept the single gold standard.
1t is not necessary to demonstrate
this by any process of reasoning; it
can be proved as matter of fact by
existing conditions in Japan and
China compared with England. In
these Oriental countries the cost Of no
production has increased; wages and
incomes being the same the people
, will not buy English manufactures
and pay for them twice as much as
they paid before the fall of silver.
Therefore British importations have
fallen off. Worse than this they can
manufacture at d cost measured by
silver, and sell the product in Europe
at gold prices. Therefore manufacture
ing is increasing at marvellous rate,
as everybody knows.
Yet we shall win in due time. In.
tense for gold monometallism are only
the money lenders and persons of fix
ed and assured incomes and those
whom they can control. Against the
single gold STANDARD are not merely
the debtor classes, but most of the own
ers of property, the producers of agri-
cultural and manufactured commod-
tiles, the enterprising business men of
all kinds, and the thoughtful student
of political economy. We blmetallists
outnumber the gold monometallists of
the world 100 to l, and need not fear
that we shall not eventually succeed.
With practical suggestion I close
A bimetallic conference held in the
United States will be attended bv rep
resentatives from all Western Hem
lsphere governments, and from the
governments of Russia, France. Japan
and China. Bimetallic organizations
in Canada, India, and every other
country will send delegates. The de-
clsion of the conference that the ma
tions should coin silver without limit
at the ratio of 15a to l will be irresis-
tible, even by England and Germany
Our Congress should call conference
and provide for paying its expenses.
Very respectfully, w. E. CHANDLER.