Semi-weekly independent. (Plymouth, Marshall County, Ind.) 1895-1897, 1895-12-11
former parity between the two metals nrs

for the belief that an act of Congress
could now bridge an inequality of 80 per
cent. between gold and silver al our pres
ent ratio, nor is there the least posi-
bility that our country. which has less
than One-seventh of the silver money in
the world. could 10y its action alone raise
not only our own but all silver TO its lost
ratio with gold. Our attempt 10 accom-
plish this by the free coinage of silver at
a ratio differing widely from actual rela
tive values would be the signal for the
complete departure of gold from our cir
culation, the immediate and large con
traction of our circulating medium, and 8
shrinkage in the real value and monetary
efficiency of all other forms of currency
as they settled TO the level of silver mono
metallism. Every one who receives 6,
fixed salary and every worker for wages
would find the dollar in his hand ruthless
ly scaled down TO the point of bitter dis
appointment if not 10 pinching privation.
Warned by History,
All history warns against rash eXper~
iments which threaten violent changes in
our monetary standard and the degrade
ton of our currency. The past is full of
lessons teaching not only the economic
dangers but the national immortality that
follows IN the train of such experiments.
l Will not relieve that American people
can be persuaded after sober deliberation
10 JeOpa rdiZe their nations prestige and
proud standing 10y encouraging financial.
nostrums, nor that they will yield 10 the
false alluremeDts Of cheap money. when
they realize that il must result in the
wea kening of that financial integrity anC
rectltude which thus far in our history
has been So devotedly cherished a. one OF
the traits Of true Americanism.
Our cOuntry's Indebtedness. whether
owing 10y the Government or existing be
tween individuals. has been contracted
with reference 10 our present standard
To decree 10y act of congress that these
debts shall be payable in less valuable
dollars than those within the contempla-
ton and intention of the parties when
contracted, would operate 10 transfer
by the fat Of law and without compensa-
ton an amount of property and a volume
of rights and interests almost incalcula-
BILE
Those who advocate a blind and head
long plunge TO free coinage in the name Of
bimetallism and processing the belief con
trary 10 all experience that we could thus
establish a double standard and con
current circulation of both metals in our
coinage are certainly reckoning from
cloudy standpoint. Our present standard
of value is the standard of the civilized
world. and permits the only bimetallism
now possible, or at least that is within
the independent reach of any single ma
ton, however powerful that nation may
be- While the value Of gold rs a stand
ard is steadied 10y almost universal com
mercial and business men. il does not de-
spise silver nor seek its Punishment
Wherever there is at its side in free anG
unqueslioned circulation a volume of
silver currency sometimes equaling. some
times even exceeding il in amount. both
are maintained al parity notwitnstdnd-
ing n depreciation or tiuctUaliol in the in
trinsic value of silver
There is vast difference between q
standard of value and Il currency OF
monetary use. The standard must neces-
sarily he fixed and certain. The currency
may be in divers forms and of various
kinds. No SilVcr-Standartl country has r
gold currency in circulation. but an en-
lightened and wise system of finance So.
cures the benefits Of both gold and silver
as currency and circulating medium 10y
keeping the standard stable and all other
currency at par with il. Such n system
and such a standard also give free scope
for the use and expansion Of safe and con
sentative credit. 80 Indispensable 10 broac
and growing commercial transactions and
SO well substituted for the actual use of
money.
If a fixed and stable standard is main
tanned. such as the magnitude and safety
of our commercial transactions and bust
ness require. the use Of money itself il
conveniently minimized Every dollar Of
fixed and stable value has. through the
agency of confident credit. an astonishing
capacity of multiplying itself in financial
work. Every unstable and fuctuating
dollar fails as basis of credit. and in its.
use begets gambling. speculation and un-
dermnes the foundations of honest enter
prise.
| have ventured TO express myself OF.
this subject with ca rnestness and plain
ness of speech because | cannot rid myself
of the belief that there turks in the propo-
sition for the free coinage of silver. sc
strongly approved and SO enthusiastically
advocated by the multitude of my coun-
trymen, serious menace 10 our pros
perity and an insldiOus temptation of our
people 10 wander from the allegiance
they owe TO public and private integrity.
IL is because / do not distrust the good
faith and sincerity of those who press this
scheme that | have imperfectly, but with
zeal, submitted my thoughts upon thN
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 10.
weigh again and again The consequence
of such legislation as their efforts have
invited Even the continued agitation.
of the subject adds gNauy To the diff
culties of "a dangerous financial situation
already forced upon us.
In conclusion, | especially entreat the
peoples representatives in the Congress.
who are charged with the responsibility
of inaugurating measures for the safety
and prosperity of our common country
to promptly and effectively consider the
ills of our critical financial plight /
have suggested remedy which my ja.ly-
ment approves. desire. however. L..
assure the Congress that | am prepared
TO cooperate with them i'm pcrfeciing any
other measure promising thorough and
practical relief and that | will gladly Ia
Dor with them in every patriotic endcay-
e.. h..