The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-10-16
BIMETALLISM.
NUMEROUS AND GOOD REA-
SONS WHY 1T SHOULD
PREVAIL.
m IT Rortin in Chicaro procs


"a. T. Bartine in Chicago Press.)
Because l am bime talliSt, and
there can be no genuine bimetallism
without according to both metals I'M
limited coinage and full legal tender.
am in favor Of the ratio of Is to be-
cause that corresponds very closely
with the relative quantities of gold
and silver in the world, whether in
the form of coin or imme diately avail
able for coinage; for the further rea-
sons that this was the legal ratio at
the time silver was demonetiZ ed, and
that under present conditions Of pro-
duction and consumption by the 9th
err countries the United States can
coin, absorb, and use the entire sur
plus stock Of silver in the world. thus
fixing the market value at our coinage
rate. 10 change to a higher ratio
would not only diminish the amount
of metallic money, but it would throw
our silver coinage too far out of con-
cordance with the coinages Of other ma
tiOnS using both metals, nearly all of
the full legal tender silver in the
world being now coined at ratios rang
ing from Is to 16 TO l. AS defined
above, bimetallism, because the two
metals cons tituting a much larger
body than one alone the aggregate
mass is less liable to sudden changes
of value as the mines increase or di-
minish their output.
Because the certain effect was to in
crease the demand for gold, thus en-
HANGING its value and depre ciating
the value of all other property, adding
20 the burdens of the debtor and Civ
ing an unconscionable advantage to
those who are in a position to control
the worlds supply of gold.
Because silver decentralization was
Immediately followed by a tremen-
dous and unnatural shrinkage Of
property and commodity values, the
great staples at wholesale prices hav-
ing fallen more than ~ per cent.
Because this shrinkage in values has
been accompanied by most extraor-
binary depression of trade and indus
try continuing with only temporary
checks and partial revivals from 1873
to the present time.
Because under the gold standard
thus established there has been more
extreme poverty, more widespread
suffering, and more cramps" than
ever before in the history of our coun-
try.
Because at the same time there has
been a greater massing of wealth at a
few of the principal money centers
than ever before.
Because at the money centers them
selves this wealth is in the hands of
an exceedingly small number of indi-
vividuals, as shown by the fact that
in New York, by far the richest city
in America, and the Gioralter Of the
gold standard only about per cent of
the people own their homes, many
even of this small percentage being
under mortgage.
Because the appreciation Of gold I'M
der present conditions has given sill
yer using countries opportunities and
advantages which they never had be-
fore, enabling them to compete with
us in the European market, and forcing
us to sell our great staples upon sill
yer basis, while every debt must be
pdlu L ii dDpreCldGCu goa or lUS cQ viva
lent. From this it necessarily follows
that rise in the value Of silver would
be to our advantage as a great pro-
ducing and exporting nationalist
loaded down with debt.
Because the restOra ton of silver to
its proper place in our monetary sys-
TEN will at once place us in close COM
mercial relations with Silver-using
countries uprising about two thirds
Of the worlds population, thus fur
nishing market for our manufac-
lures and vastly increasing our
foreign trade.
Because the use Of "Cheap silver"
as it is cOntemptuousl termed, is
building up the man ufacturers Of
Mexico, China, Japan, and other coun-
tries at rate that threatens destruc-
ton, not only to our own, but those of
Europe as we'll
Because, finally. | believe that the
free coinage OF silver will. in part, at
least, restore lost values, set the
wheels of industry in motion, gives
employment to vast mberS Of hon
est worllmen. make credit more secure
by increasing the supply Of actual
money upon which all credit rests.
permanently reviving business, aud
bring more of real, permanent pros
pcrity to the toilers and producers of
the country than any one act that
could be crvstallized into law.