The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-05-24
THE GOLD STAN DARD.

AF AA AA ~"
Congressman Bynum last night de-
siared unequivoeally for a single gold
standard. lie said:
mo permanent restoration OF confidence can
AXE place until the treasury 81 he United
states IL put upon 4 sound basis ex-
sting laws the treasury must, on demand. re-
ieem the national bank greenback and >her-
nan notes and practically the silver eertia-
.a,es. In gold More than a ~ou~an millions
n c~urrency : being upheld By . gold reserve
III hundred million OF dollars. Thiscon4ition
D. itself Was enough 10 shake confidence In
he s0undness OF the system, but when H. be-
zane apg aren't that the gcsernmcntcoulc only
secure gold 10 replenish the reserve when de-
p.eted oy the sale Of bonds there was nothing
left 20 support the credit Of the government
except an implicit coincidence Ia the deter
mined purpose % the president and secretary
u the treasury 20 maintain the same II all
hazards With our currency in this defense
less condition he agitation OF free coinage. in
dependent Of the concurrence OF other govern
uents. Will only increase our en- barrassmeni
and hasten the period OF collapse.
We can not have 4 sound currency so long
as the government continues TO redeem and re-
s>-t - NOTES lNe oaHRs ART natural De posi-
tories 81 gold. and they. and not the gov
ernment. should supply the currency
and make the retemptions- The gov
ernmcnt will have performed its full
duty oy e~xacting a security ana standing
sponsor 10 the noteholcer. our laws en-
powering the banks 70 issue currency should
be SD amended j. 10 induce sufficient Increase
10 take the place Of the greenbacks. which
should be retired. This would relieve the
fra4Nr~r 80 MI am harr4.- "a aut. "a "a hrtr- int,
active use our stock Of gold. which = now
dormant
While the volume OF currency IS an I'M
pcrtaut factor in facilitating exchange. IL IS
equally important that i be sound, because
the celebrity OF is circulation depends largely
upon the latter. currency o. which the peo-
pie become suspicious from any cause. whether
real or fanc.ed. however voiuminous, viii fail
70 perform the functions OF money anu ulti-
natsly bring disaster 10 conn. srclal interests.
This fact has been demonstrated In every
country where II has been saught 70 simulate
prosperity by c~heapenins the circulating
medium. Gold is the STANDARD Of measure
ment OF values throughout the world. and
whether we maintain it or not n the basis
q our financial system our trade and com
nerce will be carried on aud values ascer-
tanned and settled by the same memorable laws
which axes the relation Of products through
out the civilized world. Every country In
the world, no matter what the character Of its
currency measures values ~ the gold stand
ard. II is currency j. below the standard.
prices are augmented 10 compensate for the
depreciation
II all the great commercial nations would
enter into an agreement 10 coin both gold and
silver al a ratio experimenting their CON-
Megclal equality. the price Of silver would. no
doubt be gwen ~ur-clent stability 10 hold IL
up % Is coinage value. There j.. however
but q remote possibility OF an international
agreement
The question will have 70 be settled upo
domestic basis. The issue will be. shall the
United States. without the concurrence oi
other nations. open her mlnts 70 the free
coinage ~ silver upon the ratio Of Il
~ - II i useless TO attempt - dodge the
By the Use u hiEh-sounding
phrases about maintaining the parity OF the
metals. or that every dollar coiaed should
be the equal 81 every other dollar. etc. The
discussion. therefore shouid be directed TO the
point a. 70 the effect " the adoption II free
coinage by our own. regardless OF the action Of
other governments. That the first eject would
be - drive out % circulation our entire stock
Of gold Is too patent FOR argument. An imme-
diaie contraction u over : co.O0.t-o il the vol
ume u our currency would Be the result.
This. II no other harm was done. could
be replaced IN less than twelve years thg
capacity o. our minis being about s90. o.D..
annually. That we would 70 10 a silver
basis at once. silver becoming the sole money
o. redemption. no one can truthfuliy gainsay.
We would have silver monometalii>m. and not
bimetalllsm- Our silver money. when once d.
yorced from the gold STANDARD would cease 10
have any fixed value
Before concluding an important transaction
IL would be necessary for the parties 10 ascer-
tain tie value o. the money by whichthe meas
rremert was TO be made. because upon III
value would depend the price u the product
Under such a condition our vast trade and com-
would become 50 unsettled. prices -
tickle and values 30 ~fuctuating a. to defy all
calculation.
Upon the stability % pricesa and the certain
y o. profits depend the prosperity and IA ppi.
ness " a commercial peoplo.
b the commercial value OF the silver in q
dollar. With free coinage. would become the
equivalent ~ this monetary value Is self-evi.
dent Two things can not be- convertible-one
the other-at the will u the owner. with
ont possessing the same values inirinsically.
SILVER ia a dollar is worth only
about fifty cents at present. Would the
value ~ the builion 70 up or that o.
the coin. which is now worth a hun
dred cents, come down In view o. the
that the purchase by the government. IN
der the provisions Of the sherman law. Or more
AANN NNN"4Hs N|NANA Az FNAAE ANF ~ aA4
the price. and the further fact that in every
ia the world where silver il being
freely used. ~ monetary Is no greater than
IT, bullion value. it Is evident that the none
tAFY value o. our present stock OF silver. as
well a. that which might tie coined in the H.
ture. would be 10 more than it, bullion value
Tn e-srt would lie a contraction Of the
capacity and, therefore practically In the vol
uMe u our present stock OF silver money more
than $500 0O0 suspension OF gold aud the
u silver :r-demption would like
wise acct our entire supply Of pa per urrency
hence. instead ~ an Increase Ia the volume o,
money there would be a contraction Of more
than 81 per cent IL may be asked how could
our silver coin depreciate 80 long as IL was
= fun legal tender Values are measured
by comparison. n dollar that will purchase
two bu>he % wheat will perform twice The
OF 4 dollar that will purchase one:
hence. while the silver. with free coinage
would stiii by law remain a dollar. its purchas-
Ing power would be only only one-hali what Il
~ Bot, say the advocates OF free col age
that l. Just what We desire 70 accomplish. We
want to increase prices. The great delusion Of
the advocates % free coinage Is confined IN
this idea; The belief j. tina, By cheapenfng
values are Increased. As well claim
that by shortening the yardstick a half the
Of a piece OF cloth would he doubled
Who would Dc harmed by the opcratIons
The purchasing power of the wages o. every
In q factors every employe
upon a railroad. every worker In a mine. every
rlers upon a salary in fact. every person W sth
; fixed income would be reduced one-half.-
INQUEST INTERRUPTED
By . Tall on the Coroner 10 Tie \ MINT Ial