The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1895-08-03

rnouk. OF ta-: Sc. ..aS % pay h. f1xsT, or y
ltdate his debts or mortgages. under the single
Itandard then he at once sees wherein the one
,ppresses him. and the other Is q relief.
II, unier bimetailic standard. i0J bushels
~ wheat would pas VI % OF taxes and mortgage
iebts, whereas. under the single gold standard.
Z requires soo bushels OF wheat to discharge
his obligation, the farmer sees the difference
n the argument. In practical application he
eels very keenly the difference, as he does to-
lay. under the single gold stlndari
The Functions of Money.
But above and beyond all this, money Is the !
tool OF trade. It Is necessary to effect the ex-
change Of commodities. II Is necessary to es-
Iablish new indu tries: II is necessary to open
up farms. to build factories. u con struct rail-
roads and 20 erform all the necessary things
10 develop new cointry. Every new enter
prise entered upon. whether It Is the coustruc-
lion OF factory. the opening OF O farm or the
ouiiiing Of . railroad. Is o new and extraor-
dinary demand upon the prcseat supply Of
money. aud necessarily cramp. and limits en-
ter prise. already on foot. dividing the money
In use. Hence IL Is that our vast territory.
with 70o0o.0N Of people, an empire yet 20 de-
velop. can sb 'orb mooes without limit: II Is
this great demand nade for money that will
It's value.
Mr. Carlisle insists that " hen our silver dol
lar Is melted down AMI becomes bullion it u
worth only 70 cents. He fails however. 70
state the important fact that as q coin OF legal
tender the dem md for it for monetary use Ii
ever resent. ever Unsuitable. made by 7J,00O,-
ODD Of people with s70.0 D,.O0.0oo OF wealth. and
that wealth ready to be exchanged for the doll
not is loses this demand. Now. suppose The
holder OF this dollar. when melted down. had
the right TO have II recoined Into dollar again.
which right he would have under free coinage,
then this piece OF bullion Is worth dollar be-
cause Of tho right OF the holder of the bullion
to convert IL into . dollar; 80 that the fnss-
sustain the silver dollar and the bullion.
Neither gold or silver has ever been pro-
duced 10 the world IN excess OF the Legitimate.
dan nd nf hg fnr mn far md
the uses Of the metals In the arts. II Il insist
ed BY our most enlightened statisticians that
tioa OF gold goe, into the arts thus limiting lts
monetary supply. It cannot be denied. sue
cessfuily. that the monetary demand has AL
ways given to gold and silver their greatest
duced without limit: nature has set It's seal OF
Limitation upon the product. 10 that IL cannot
BY sny possibility OF man be Inflated.
Eject Of Fess Coinage.
have tried TO show that tho restoration of
silver here at our ratio OF 10 ~ I will have the
same effect that the free coinage OF god and
silver had la France: that " to say. that this
country, which II shown 70 be . greater pro-
ductive power than France. Germany and
England combined. by opening our mints to
the free coinEse Of foiS and sii,er would take
seventy billions OF wealth. all OF our ten TO
twelve billions annual products Of labor.
teen pounds Of silver or one pound Of gold. ana
~ much OF that wealth for sixteen pounds Of
silver ~ for one pound OF gold; that this de-
mand would msintain the relative value Of
This would give to silver the same purchas-
Ing power In this country as gold: and having
seventy billions OF wealth to exchange In the
purchase for the one for the other, ami as
much for silver - for gold under our Law. IL
would have tho same enect: stated BY the
~ the bimctallic law Of France. that is to say.
silver bullion AMI goid bullion. ut this ratio.
u1 Sfu al m rn IN m xSiO re- d.
ers Of silver the world over would take no less
for IL ~ the ratio named than for gold. for the
It here 1t that ratio ~ for gold and, in the
language OF this commission, ''this fact would
cause them 70 hold out for that price. no mat
ter where the silver WAS located"
In other words. We would be the clearing
house OF the world upon that question Silver
using countries would come 70 know that they
using countries could buy with their gold. THIS
would attract to us the trade OF the silver
using world; for nearly all countries south OF
NJ on this continent are silver using people,
while the Axistics are also stlver-using people
To them We must look also for trade snd COM
merce. II would make this country the great
bly,. New York the clearing g-house for the ex.
changes OF the world. instead OF London. 81.
yer bullion and gold bullion thus being placed
upon An equality the world over. as it was un.
der the French bimet sllic law, and admitted
by the gold standard people In the British row.
yer here. except 70 buy our commodities or In
exchange for our commodities. IL would not
be brought here TO be exchansef for gold, be-
Il would here In exchange for gold We could
have no Hood Of silver in this country. thai
would come for the purpose OF being exchanged
for Gold for the simple reason that IL woult
buy ~ much gold where IL was as here, and
especially IL this so In the Roli STANDARD coun-
sss sssre si me silver IN s,scTlato1 toIday s
that would be sent here To be exchanged fol
gold IL . mere scarecrow or q myth there Il
No one having the gold dollar is now OF
would be compelled To exchange IL for the
silver dollar: hence IL gold was at u premIu m
our gold would be compelled to pay whatever
premium there was upon the gold. Doubtless
tt would be sent here TO buy our comm ,ittieS
and products OF our mines and when we Civ,
the opportunity for silver to come here fo
that purpose. As we would under free coinage
tt would naturally have tendency TO raise IN,
value Of our real estate, our farms, mines an,
other property, well IS the products Of tn,
farm. the factory and the mines.
There Is no nation now, none since France
suspended the free coina &c OF silver, that ACT
as the regulator of the re.atise value Of th'
two metals: there Is none so com letent to d
this country. We are often cited 10 Indi.
and Mexico and are told that the silver coine.
| by these countries Is not worth rs much "
| gold at our ratio These countries are singh
silver standard countries. especially India. n
| one would think OF comparing the productiv
| power Of the Mexican peop.e with that OF tn
India with rn.t Of Americ.: consequently, Z
| cite these countries In connection with thi
country ts De Ssing the question,
The British royal commission alluded 4
| France and the Latin union as being countrie
| Of considerable commercial power aud wealth
but there ls very important distinction to b
drawn between u country like France and
country like Mexico: and how much more i'm
portant Il would be to draw distinction be
| tween this country and Mexico.
Mr. Mulhall. In An article Of the North Amer
| lean Review. referred 10. says:
| An American has twice the productiv
power Of German. Engiishman or French
man" Then. without exaggeration. we ciair
| the productive power Of the American 10 NOR
than ten times that Of the Mexican; CORE
ought to be ten times what 1t Is In Mexico pc
capita; and the power OF bimetallic law
Great I Brisan 0un aad Ss SsIMany " With Msas
| thrown In. And when speak OF moae
speak OF redemption money, or ne
credit money which, being tied to sold. limit
| its use: not only limits its use. but Is sourc
Of apprehension so long rs we maintain tn
| system OF redemption In gold only.
Wages and Commodities.
Wage workers are asked TO oppose the FIRE
coinage Of silver because 1t IL claimef thu
| there has been an Increase In the average rat
employment there may be some increase /
| tho nominal wages. Mr.. Carlisle cites the Al
bridge report In proof that wages have rise
| and commodities have fallen: that therefor
the wage-earner has been benefited both way,
In another place he makes the point that com
modities. as relates TO food products. hav
| fallen very little. The Aldrldge report wa
made by Mr.. Aidridge as chairman OF the com
mittee that made the Investigation. Mr.. Al
bridge IL u high proiecttonist: the committe
was . protective tarin committee. got up 70
| the purpose OF proving that under the systeI
OF protection wages had risen. manufacture
products had fallen aud that farm product
had maintained their value. l have no con
| ndence In the Aldridge report In any respect
| do not believe In the doctrine OF protectio
that IL raises wages or lowers manufacture
products. or has the effect Of maintaining tn
Mr. Aldridge has made by his report kn,,
| not: but IL would seem that very distin
guished free trader In the person OF Mr.. Car
Isle has become u convert to the doctrine a
least he indorses what ere claimed To be fact
| In support OF the theory.
| Distinguished writer's upon the subject an
especially bimetallists, insist that wages hav
fallen on the average. for under this singh
gold standard we have had constant strike
and lockouts. nearly third OF the laborin
people being constantly out OF employment
Is well known that during the acute stage @
the gold standard panic OF the last two year
IL was dinicult for the laboring man TO get EN-
ployment 1t all IL would be safe TO say tina
more than half Of them were idle. II tn
| amount Of wages received by workers who ar
employed was distributed per capita to all tn
laboring people. including those unemployed
| IL would be ascertaincd that on the whole an
| on the average there was an enormous reduc
tion per capita OF the wage fund
II the restoration OF silver will have tn
| effect OF increasing the prices OF commodtie
| produced by the laboring people, IL woul
necessarily have the effect OF also incrcasin
the price OF labor. but what is OF more i'm
| portance to the laboring people OF the countr,
IL would give employment to all; whereas IN
gold standard can maintain but y portion an
ut times only one-hAlf ut work.
| He also parades the old contention that W
| have heard so often, the Injustice TO depositoI
| In saving institutions. and the like. by resto,
ing silver TO free coinage. There could he n