The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1895-06-01

circulation at the same time has been
made by nearly every civilized nation
In the world and has failed in every one
of them. 1t has failed because in every
instance it has been found impossible
to establish and maintain a legal ratio
corresponding at all times with the in
trinsic or commercial ratio between
the two metals contained in the coin,
and because wherever either of the met
ais vas ~undervalued relatively to the
other in the coinage laws 1t was ex-
PEELED from the country. England per-
sisted in the attempt for nearly 500
years and, Notwithstanding the enact
ment of most severe penal statutes
against the expectation of coins or
bullion. was at last forced to abandon
the effort and adopt the single stan
dard. France, in her efforts to keep the
coins OF the two metals in circulation
at the same time, changed the legal
ratio between them more than $50 times
in a single century. n finally, in 1876,
finding that gold was leaving her and
in ten years her net imports of
silver had amounted to $3.50. 900, 900,
stopped the coinage of legal tender sill
Yer. and for nineteen ears the attempt
has been abandoned in that country.
Many other nations in Europe and other
parts of the world have subjected their
people to great loss and expense by their
adherence to monetary systems based
upon the theory that a double standard
could be maintained, but in no case have
they succeeded in keeping the coins of
the two metals in use at the same time.
except for very short periods. Dur
country is not without experience upon
this subject, and the results here were
just the same as they ave been every
where else. BY the act of 1892. which
was our first coinage law, the legal "a
ito between gold and silver was fixed
at 10 to /, when in fact the true com-
mercial ratio was or soon became about
15ih to i. n the result of this very
small over valuation of silver in the
coinage was that gold went out of cir
culation and we had practically silver
monometallism until after the passage
of the act of 1884. For the purpose
of restoring gold to the circulation, con-
gress in 1884, changed the ratio from Is
to / to 16 to /, and as this was an over
valuation of gold in the coinage. silver
left the country. and from that time on
until 1878 We had practically gold Mono
metallism, whenever we had any met
allie basis at all for u currency.
The n thing that has been less af-'
fected by the changes in the relation
between supply and demand, by i'm
provements in the methods Of produce
ton and distribution and by other influ-
ences which produce fluctuations in
prices of commodities generally. IL la
Dor. and it is by far the most important
single source of income possessed by
our people, a much larger amount being
expended every veal" in the payment of
wages than for amy othcr one purpose.
The cost of labor in tn manufacturing
and mechanical industries alone during
the census year of 1889 vas So, $50, ZIG, 529,
which was nearly two and one half
times the value of all the wheat and
cotton produced in this country: and if
we add to his the paid for
farm labor, for clerical and other work
in mercantile establishments, for domes-
tic service and for work on railways of
all kinds, on water craft, on streets md
other improvements in the cities, n
in the many other occupations which
give employment to our people. we
would have n sum almost, ii not quite,
equal to the value of all our agricul-
tural products. 1t is evident, therefore.
that IL the alleged depreciation of gold
alone has caused a reduction of prices,
the wages of labor, the greatest COM
iiod''S III .ne ni"ihe'' 'oN ~
is true. The Investigations of this sub
ject by the subcommittee covered a
period of tifty-two years and embraced
an ,ha o~ccnnations in which orr neonlo
an 'he oceupa.ioiis III winch u peop''
We're engaged, and the fact. unanimous
ly found. was that. although eighteen
years had lapse since the silver iesis-
iation, the wages of labor were higher
man In 1879 or 1879 WAGES were found
'""ii ! ~ u 100 ""ee' "1e
to be nearly 81 per cent higher than In
1850 which was thirteen years before
80 Q
per cent higher than in 1873, when that
aui.,,tt. 20, ,aa,+oa
iesis'a'ioh was auoP'eo'
Tn. Dc,tor arvuuc,t
one of the most effective arguments
made by the advocates of free coinage,
-, -, ,..,e az ,ba ,o,,,.v -,
~ SOM pa neeri 1t ara IN .uaht a. ,eas !,
Is mat ,ne Pe1Pie ar ~ 49, anu Ihnt II
= .ne u W srch iaag,sio f,on ~ Iii i na =
mem ny suSn r. 'ehts'a', ~ WI. eiapls
pose OF uiscna! sins tnese ooi!Satlohs. ana
III uppoI o. tn.s uiient me most eA-
aeseiate9 statei ~ nIe mas as 70 me
ieplesseu anu aun,et.ns e9huisioi OF our
iaihlefs' "asr taineIs anu olheI proauc-
mig classes. ms arsn'heit concedeS mat
Under the piUp9seu s!ste'n OF Tree
cp4tiisG ~ - t. ~ " ! az ine W
hieuS kihds q currency IN use ny the
i,sppis, l'cluatns me SILVER uoilar ltseIt,
You'd ns ~oElh iess 'nan J.. Is nov. Io
assert lh!tt tne Peophe arr ~ usnt IS SIM
Ply 10 say tndt 'i ny, .1 w 'rarta Win each
olher Oh circuit taat oIit idtA. ol our Tel,
i1w @'t.Ie s,n n ,ui,y1' a. ~ ,ba ir' n ,nic5bGhr;rs ana
hialciai st,i,atLis ~ lneit nesnpoIs ana
a&quallta'ces ndNe lehl .hehl money on
Iile any soiu IhotritS " the.h Witnou'
utnlahuiiiS luiheuia.e Pa!tlett III cash,
ana thal ~ .nis WY lhey hape enabled
many Peopie 10 carry on d ustlui business
ana I'VE n coLiiioithple MONIES VINO othef-
wise Woutu Hos nane uohe So u II IS g
crime 70 iei" lnoisy ~ d iian VINO Wants
70 polio" ~, u - sen piopeiss on credit
70 IA man MIC waits 70 putsnaSe ~, ana
mas no itaus n'o..es 80 ~ H. tet tht
lerpctiAtols ne ptopetlS puHisLsu' put LEI
us nor lnsolne sne "noie couHtis N con
lusiou aHu a!aastel CIV ihlnipia.e me IN.
noeent anu sui,ay amy ~ oimsi ! PuhiSn
the feai y ptopie ~ al
uenI, I"ty w eaIn onneni u vonHt'
iuc.t'i > %" d nany y y ~ " aS.uaiis
inJuieI d . ~ II tppnas' 49, pehehssu
~ 't s "a r'hs sndaht aImasu ~
yer sts.huaiu, NJ p.eInuss ~ ine
iafIneis, airsrnaIiais' ~ ojnfa a1orths
CidsseS = oui PNotiS' uitHJ aie a. thc