The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-05-24

Dor. For comparison, the year 1860 was
adopted as a standard on commodi-
ties and labor. He says the committee
took 332 articles which constituted the
bulk of consumption and expenditures
of the people, and found that the ar
ticles OF food had fallen less than 10
per cent since 1872. while clothing had
fallen 80 per cent, fuel and light, "a
per cent. metals and implements 35 per
cent and miscellaneous articles 10 per
cent II the alleged appreciation of
gold has caused a reduction in prices,
the wages of labor should have fallen
since 1873, but exactly the reverse is
true. Investigation found wages near
ly 81 per cent higher than in 1850. Is
years before silver legislation, and
more than per cent higher than I'm
1873, when that legislation was adopt
ed.
The Indebtedness of the farmers. me-
chanics and other laboring classes of
our people, although large in the ag-
gregate, is quite small in comparison
with the whole Indebtedness of the
greater and manufacturing corpora
tions, banks, trust companies, insur-
ance companies, building associations
and other organizations engaged in
financial and commercial enterprises.
II deny that there is such thing as
n distinct debtor class in this country,
for while every one owes some debts.
large or small. nearly every one has
also some debts owing TO him; in other
words. he is both debtor and creditor.
Fully 21,00O, 600 of our people. generally
poor, or at least people of moderate
corporations and companies. and in my
opinion it would be a grievous wrong
to adopt any policy which would de-
prive them of the legal right to demand
and receive just as good money as they
parted with when they made the de-
posits in the banks or paid the prem
iums on their insurance policies. The
United States should go entirely out OF
the banking business by withdrawal
of its arbitrary and compulsory issues
of notes, and afford the people an op-
portunity to supply their own currency
based upon their own means and cred
it, thus enabling every community to
utilize it's own resources when neces-
sary and adjust circulation from time
to time to the actual demands of le-
gitimate commerce. In the meantime
our highest duty is to preserve the
present money in circulation among
the people, whether il be gold and
silver coins or paper based upon them,
equal in purchasing power. so that no
discrimination will or can be made be-
tween those who receive silver or paper
and those who receive gold"
At the conclusion of Secretary Car
isles address there was another noisy
demonstration.
The platform enters into nearly every
phase of the money question and re-
cites in part:
We are opposed to the free, unlimit-
ed and Independent coinage of silver at
the ratio of 16 to l, when the market
or commercial ratio is more than 81 to
l and the difference between the bull
lion value of a gold and silver dollar
is about so cents. on the ground that
such action, instead of restoring the
bimetallic standard. would inevitably
result in silver monometallism. We
favor, in the absence of international
cooperation, the retention and main
tenance Of the existing gold standard,
because a change from the gold to the
silver standard would have the effect
to repudiate all public and private OBJ
legations to the extent of the difference
between the bullion value of the gold
and silver dollar. We favor the reten-
ton az part of our money the silver
now coined and in order TO give a
fairer field for the use of silver we
favor the funding Of all money other
than silver and silver certificates be-
low the denomination of SO. either sill
yer or silver certificates, and TO this
end the secretary of the treasury
should be authorized to coin. from time
to time. silver dollars until the de-
mand of commerce for money below
the denomination of $40 is at all times
satisfied.
We cannot too highly commend the
unfiagging courage and sturdy patriot
ism of President Cleveland in his ef-
forts 20 protect national honor and TO
maintain the public credit during
period OF great financial distress. and
under conditions which threatened
danger to both, and we congratulate
him and the entire country on the evil
dences Of returning prosperity.