The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1895-04-19

be our unit of value.
iSecond-The silver coinage could be
limited Ia the product of American
mines The NoRTHERNER is IA protec'
ZIONIST as well rs "A bimetallist, and
believes that if limited silver coinage
be adopted, the limit should be So fixed
as to give the American product the
benefit of the enhanced coinage value
of the white metal.
But after all, the question is not SO
much one of free or limited coinage, of
"A ratio of l6 To or some other ratio, rs
it is of return To the use of silver as
redemption money. Gold bond conz
tracts should be made illegal. No fupT
ton of money should be legislated TO
gold that is denied to its pale compan
ion. In the language of the republican
platform, "the purchasing and debt
paying power of the dollar, whether of
silver, gold or paper, should be at all
timcs equal"
The single standard has been thing
of especial hardship to the debtor
classes. The American farmer has seen
the prices of his products go down while
the purchasing power of his money
went up, except when it came To the
payment of his debts and taxes. OF
course this cannot be laid entirely to
currency legislation. These debts were
contracted largely in IA period of inflated
prices following the great war, and the
merchant as well as the farmer was
pinched by the falling market. We do
not believe the honest American people,
however, have any desire to pay their
debts in deprecated currency; on the
other hand we think they desire to re-
turn, dollar for dollar, every iota of
purchasing power loaned to them-and
and money is nothing except a medium
for the exchange of commodities, and in
no way should it be given an unnatural
value above or below its normal intrin-
sic merits Any change in the monetary
system is bound To work 4 seeming hard.
ship on some class of people, either
upon the debtor OF creditor classes. But
III III hardship is only seeming, as justice
can harm none and none can truly pros
per except it be by virtue of general
prosperity OF late years, the legisla'
ton has seemed To tend towards the
betterment of the capitalist; but, while
he has secured II high priced gold pay
ment, he has seen the properties which
formed the security for his loans
dwindle in value, and the ability to pay
on the part of the debtor has wofuliy
decreased. Interest rates have fallen
and money in the financial centers Is
going begging for a paltry rate OF inter
est if ample security be furnished. A
return to safe bmetallism might seem
To wage war upon the capitalist, but
such would not be the case. Prices
generally would appreciate, industries
would pick up, the demand for money
would increase and the opportunities
for profitable investment would multi
ply On the other hand an era OF
equitable prices would put new life in
To farming, mining and other producing
interests. We all must depend ultimate
ly upon the producers for our nationa
wealth, and their prosperity mean,
national good times.
Silver is now rising in market price
Should that price approximate one-siX
teenth the price OF gold, an lmmediat,
return to free silver coinage would be
simple and harmless matter. Again
international bmetallism is by II,
means an impossibilty. An agreenIen
on the part of Il number of the grea
nations would insure sufficient credit I,
force up the silver price To whatever
} coinage value would be given it by sucl
an agreement.
In the meantime, the American vote
: would do well to keep his head and b.
not led astray by any financial sophis
! tries. The republican party is right Oh
the financial question.