The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-05-03

same year. The Latin Union, con
posed OF five European nations, wa
on bimetallic basis on a ratio {
l5f to /. The parity Of the tw
metals was always maintained ther
until silver was demonetized som
years after like action had been Ia
ken by the United States and Ger
many.
He also claims that the depre
citation OF silver is due to two causes
the over-production of the meta
Tor the last twenty-five years anc
the suspension Of its coinage by the
nations. The latter of these two
propositions is true, the first is not
In the first place, there never has
oeen and is not now any deprecia-
ton OF silver. Measured by any
product OF human industry except
one (gold), an ounce OF silver is
worth as much to-day as il ever was
in the worlds history. 1t is a mis-
use OF terms to say that silver has
deprecated or fallen in value. The
correct and fair way to state the
proposition is to say that gold has
appreciated or risen in value.
LAS to the overproduction which
he assigns as the cause, the facts
show that there is no truth in this.
Prlor to twenty-five years ago there
were thirty-four tons Of silver to one
OF gold. To-day there are but
eighteen tons Of silver to one of
gold, so on this point his own bat
terles are turned against him.
"The second cause that he as
signs for what he terms the depre-
citation OF silver is a true one and
the only cause, namely, the closing
of the mints against it and the dis
Of It's coinage. This
proves all that the friends of that
metal claim, namely, that arbitrary
eglslation is alone responsible.
"Gov. McCreary seems unable TO
Understand why the Mexican silver
iollar should only be worth half as
much as our own. Perhaps he
night find an explanation in the
act that there is more confidence
eposed in the national promise that
tands behind our dollar than the
romise upon which the Mexican
ollar rests. If this be true, it onlylt
roves the value that attaches TO the
lamp (the pledge a Governments
'ves) which a Government puts on II
$ money. Z
III the Governor would press his Z
lvestigations little further he d
ould find that neither gold nor sill \
'r, nor any other material when b
eated or used as money, has or can Il
I'VE any intrinsic value. Inside Ii
e mechanical realm, these metals il
'th have intrinsic value, but when h
ken out and adapted for the pur- n
'se OF a function which we call
oney, their intrinsic value disap- Is
ars utterly, and the only value |fit
at attaches is that which is meas.
sd by the public confidence re- Ia
sed in the ability and the integ-It;,
y Of purpose Of the Government =,
1t issues them.
Whether the Governor meant tol
ironical or not, there is certainly -
good deal of originality to be e
md in his assertion that the|sa
lks, the insurance companies, ~
savings institutions, the rail n.
DIS and other corporations con-
ute the debtor class Of our peo-
(, whilst the people are the cred Th
: class. This will be good news
the farmer whose farm is plas- wb
I'd over by a mortgage held byIda,
bank. He will be delighted to mn
IN that he has been laboring un-Iies
a delusion, and to know that he| line
he creditor, and that the bank is !
debtor. The laboring man will sur
equally happy to find out thati i
Sc great corporations owe him sid,
lething, and his happiness will lion
btless be complete If the Cover ,bo
would only tell him in his nextIscio
rview now 20 proceed 70 collectInou
debts" 10,