The advocate., 1895-07-24


1. That silver and gold are the money OF
the Constitution. That the silver dollar
was the unit Of value in our coinage sys-
tenn in this country from 1922 to 1873, Just
as the yard stock was the measure OF
length. That gold was measured In this
silver unit, and concurrent coinage given
to 1t (gold). That silver and gold com
bined constituted the legal standard OF
value In this country till 1873. Silver meas
ured gold; the two together measured all
other property.
2. That the act of 1873 was surreptitiously
passed.
8. That during the period 1892 to 1873 the
mints were opened to the unlimited coin
age of both metals into primary or re-
demption money, and that both were treat
ed as such. That during that period peo-
ple had right to have either metal coined
into full legal tender money and that the
option was with the debtor to pay in coins
Of either metal.
A. That this bimetallic system made an
unlimited demand for both metals to be
coined into money, increased the demand
for these metals, and so long as this law,
authorizing any one to coin 371A grains of
silver and % 2-10 grains Of gold into dol
lar, there was no one willing to sell either
for less than dollar.
S. That the option to pay in either metal
caused the cheaper Of the two metals to be
used and transferred the demand from the
dearer to the cheaper metal and restored
It's relative commercial value. We are
called silver men because we are defending
the metal that has been demonetlzed, but
we are nevertheless for both gold and sill
yer.
6. That It is to the interest Of the United
States to act independently in the remon-
etization Of silver at the ratio to gold Of 16
to / without waiting for the action Of any
other nation.
z, That mOnometalllsm consists In the
use of the dearer Of the two metals to the
exclusion of the other as primary or re-
demption money. That monometallism is
an experiment on trial for the first time in
the history Of the world, and began with
the period 1873. That 1t is impossible and
Impractical as a stable money measure
uent Of values; is not based on scientific
financial principles; is in the interest Of he
money lenders and against the property
owners and laborers.
8. That the gold unit as the measure Of
values, with no concurrent coinage Of an
other metal to assist 1t In performing the
functions of primary money, has caused
the fall in prices as compared with 1872,
when the worlds prices OF property were
~ hn ~
ais That all prices of property and labor
have declined accordingly as compared
with 1879, except when held up relatively
combines and trusts, or special reasons
affecting particular service or property.
That the average price Of all production,
except gold, will show this decline in ad-
justing itself to the gold standard. And
that when we include in labor the unem-
ployed and the time lost by those employed
there is fall In wages Of one-half as com
pared with 1872. That labor is adjusting
itself to the gold standard measurement oi
values. That the gold standard is con-
fscating the property of the people, and de-
priyes labor of work.
Q. That the decline in prices cover
ing a period of twenty-five years ha:
as a rule made all classes Of productive
mercantile and manufacturing business un'
profitable. That falling market covering
long period destroys the prospective pro
fits based on cost of purchase and produc'
tion, and a majority of our most astutt
business men cannot avoid failure or loss
Of capital under these conditions.
10. That it has worked hardship anC
injury to debtors, who, unconscious OF the
causes that continuously reduced the
prices Of their property, have contracted
debts during these twenty-five years. Tha
this fall in prices causes sacrifice Of prop
erty to purchase the dollars with which Il
liuuldate these debts. That this hai
caused the renewal Of debts; the contrac