The Van Buren press., 1895-09-07
M r sa1onE m rsof1n,

w
n uea. n. Z Tssfy, 4. G,
Address H. Rsey0s
1hroaea 5he
Irihane.
I. 1hat ~ great iasue now belore
ths American people Il the battle 0f
standards and mot simply question Of
circulation.
Tho question =, ahall We continue
undef the single gold standard fraudu-
lently foigted upon n By ths Sherman
cot ok 1o79, or GhA1l No return 10 the
blmstallic standard given a. BY the
fathers Of our republic In 17o0f
.. That the three important fnnc-
tions Of money are, 6rst, - medium
OF exchange; second, ~ . measure o9
values; third, - standard Of value,
or . stAp6arl Of deferred payments,
and that n most important function IN
the ptessnt Issue h that Of standard OF
value.
:. That the standard Of value h that
amount Of precious metal, designated
BY law, either gold or silver, thAt the
holder Of every dollar Of representative
money y ultimately entitled 10 receive,
and with which all deferred payments
can be made and future or Hme CON.
tracts b performed. and have their
present value estimated.
I. That bimetallism does not mean
the concurrent circulation Of the two
metals designated - the standard Of
value, but simply the free coinage Of
both metals ON equal terms, 20 that the
debtor shall have the right to pay his
Aas,k vvakh asthAS
). That with this option upon the
part Of the debtor, II at any time the
law designated amount Of ono Of these
metals should be slightly lsss than the
other, the option exercised by debtors
to pay In the lees valuable, would In
crease the demand for that metal, and
decrease the demand for the other, and
thereby constantly tend 10 bring, and
ksep, fhe value Of the two upon . par
~. ct the ratio designated by law.
s. That 90 far from bimetallism
meaning the COfacurrent circulation Of
the 'sunit Of value coins Of both
metals, II n mot necessary that there
should be an actual coinage Of either Of
such unit coins.
Z. That consequently no simple sus-
pension Of the coinage Of silver dollars
could have more effect upon oliver - .
standard Of value than could the act Of
September ~. 1890, fcrbidding the
further coinage Of gold dollars, have
effect to overthrow the gold standard,
set up by the Sherman act Of 1873.
8. That the act Of April 3. i7o0,
made silver . standard Of value by de-
claring that dollars Of tho value Of .
6panish milled dollar, containing
S51 IA grains Of pure silver, should be
the unit OF value, and that this provis-
ION oe that cot remained In full force
until the Sherman act Of 1873 made
gold the sole standard Of value by de-
clArlng that the gold dollar ''st the
standard weight Of Is. grains shall be
the unit Of value. -
.. That consequently the gold advo.
Gates. who argue, upon the one hand
that silver was really demonetixed long
prior to 1879, because the coinage and
actual circulation Of silver dollars had
practically ceased, and on the other
that silver has not been demonetised at
| al because more silver dollars have
been coined since the xct Of 1878 than
svef before either don't understand
what they assume TO discuss, or else
are trying to deceive the people as to
tha renl NUuo involved.
10. That nothing is real money or
primary money except standard money,
or money Of ultimate redemption, and
that silver having been deprived Of its
| function Of . standard Of valve by the
Sherman act Of 1873, the whole burden
| Of the functions Of primary money was
| thereby devOlved on gold alone, there
by largely enhancing its purchasing
power with respect to all commodities,
Including silver. (See Vol. %, Ency-
clopedia Britannica, p. 81, title '6tl.
III Il. That II is only the real. or
primary, money, whose FREQ coinage h
provided for BY law, that constitutes
the measure Of values by which n
determined the price or value Of labor
and al it, products, and that the
amount Of the precious metals IN the
whole world, available for use o. mon
ey, being In round numbers eight bill.
Hons Of dollars, about equally divided
between gold and silver, ct sixteen
pounds Of sllvee 10 one Of gold, the ulti-
mate effect Of demonstration Of silver
has been to lower the level Of general
prices about 10 per cent.
H.. That gold being the sole unit
Of vslue, whatsoever increases the
value Of gold, necessarily increases the
value of 26.6 grains Of gold, which
constitute the ''unit Of value, or dol
lar and whatsoever enhances the pur-
chasing power Of . gold dollar, neces-
sarily enhances the purchasing power
Of every dollar Of representative money
based upon gold.
10. That, consequently, no plan that
looks to an increase Of circulation by
means Of state bank or national bank
notes, or by IAN enlarged use Of sill
ver,d without restoring its ancient
| functions ~ unit Of value and stand
ard money, can prove Of any real and
| lasting benefit to the people.
IA. That money IL bought and sold
the same - commodities, and its value
| or purchasing power, ID determined by
the law Of supply and demand, with
the difference, however, that money
being the universal medium Of ex-
change and standard Of value, without
which men cannot procure what they
want, nor pay their debts, money is Al
ways In = state Of constant demand
such ~ nothing else IL.
Is. That consequently the smaller
proportion to the amount of debts TO be
paid, and labor and commodities to be
unchanged for It, the greater becomes
the purchasing power Of every dollar,
and the lower the price Of labor and Of
! I'll commodities.
10. That business investments de-
s1ve their profits from the prices oh.
tained from their products or output,
and that - dollars increase In value
aDd products fall In price - dollars de-
eyease In number, whatever diminishes
tAe volume Of real money, or prevents