The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1895-10-04

| Sition OF this country as that OF a
money-uslng country, and. therefore, u
debtor country, and not a money-lend-
ing country, had promptly replaced the
bimetallic standard in our monetary
system by reopening our minis to the
unrestricted coinage of both metals up
on our present legal ratio, the further
divergence of these metals would have
been arrested, and, in all probability.
they would have been brought to pari-
ty long ago. 1t Is only through the op-
Grafton OF our coinage laws. by giving
mint privileges equally to both metals.
and giving to the coins struck from
them the same use for monetary pur-
poses, that their parity can be restored
and maintained.
Efforts of Free-Silver Men.
Silver men, in succeeding con-
crosses. have labored necessarily TO
give effect to the popular will by restor-
ing the full monetary functions OF sill
yer, but have been defeated by hostile
president and the strategy of those who
are endeavoring to keep the country
permanently upon gold standard.
June IL, 1890, the senate, by large ma
jority. passed a free-coinage bill. This
was disagreed to by the house. The re-
suit was a compromise and the passing
by both houses in July, 1890, of meas
ure for The purchase by the government
or 100000 ounces Of silver per month
and terminating the coinage OF silver
under the Bland-Allison act Of July 1,
1891. In 1885 the gold men, with the
president, Mr.. Cleveland, concerted TO
bring about repeal of so much OF the
Bland-Alllson act as provided for the
coinage OF silver, but did not then sue
coed. This was accomplished by the act
OF 1890 and was manifestly the main
purpose OF that act. The purchase
clause in the act OF 1890 was to secure
and cid secure for II the support OF the
senators from the silver states, ana
thereby enabled the senate to pass II.
Very soon after this measure became
law the senator whose name IL bears In
troduced into the senate a bill TO repeal
the purchase clause OF the act. and In
the midst Of a commercial and Indus
trial depression deliberately initiated, IL
is believed. TO accomplish this object,
this provision of the act was repealed
Nov. l. 1898.
All intermediate legislation favorlng
silver having been repealed the single
! question now is whether this act OF 1873.
which. when discovered, filed the land
with excavations, shall now be Endorsed
/
disastrous effects would preclude the
possibility of such Endorsement, but the
present administration, ambitious to be
| distinguished as a prosecutor of silver
and disregarding the pledges contained
in the platform upon which its chief
was elected, is apparently determined
at any sacrifice to have this accom-
! plished and this country placed ir-
revocably upon a single gold standard.
| The party which accomplished the un-
conditional repeal of the purchase
clause was composed OF Cleveland re-
publicans and Sherman democrats and
this new and strange affllation will
continue until dissolved by the people
or a single gold standard shall be per-
| TIC SOuhbAy
1T Is mistake to suppose that the
exigencies OF our foreign trade require
us TO use the single gold standard for
our domestic and foreign exchange; in
other words, that the volume and
! profits OF our foreign trade depend upon
the conformity of our monetary system
with that of the country We trade with.
| Commerce between the people of Diff
| ferent countries is simply an exchange
of commodities or of the products of in
! dustry. The importer of English cloth.
for instance, buys from the exporter OF
| American wheat a bill of exchange
upon the English importer of the wheat
and sends it to the English exporter or
the cloth, and he collects it from the
English importer of the wheat. Thus.
in both countries foreign commodities
| are paid for by the importer to the ex-
porter in the currency of the country In
which the payment Is made. 1t Is true
that these transactions are carried on
| through the Intervention OF bankers or
bill-brokers. but this Is the result. The
volume of trade between the people OF
| TWO countries ID no more dHeCleu Ny tue
character OF their respective currencies
or n want Of uniformity in them than by
want of uniformity in their weight;
and measures. All that can be said OF
1t Is that this want OF uniformity is an
| inconvenience but this inconvenience
does not in the slightest degree affect
the volume of trade between the two
| countries.
object of the Association.
The object of this association is TO
persuade the people to elect representa-
tlves who will restore by proper legisla-
ton the bimetallic principle in our
monetary system without regard to the
action OF other nations. as Ii was es-
tabllshed by the founders of our great
republic in 1892. independent of such
action, and a president who viii ap-
prove such measure.
Bureaus will at once be organized,
one being located in Chicago, from