The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-06-19
OBJECTIONS ANSWERED.,
THE GOLD BUG LOGIC DIS.
PROVED.

REMONETIZING SILVER THE
/. GREAT REMEDY.
(From the Spirit of the Valley, Harods-
burg, Va.)
LIST. The principal argument adj
vanced at the present time against Amer
ica's action in favor Of the free coinage
of silver by those bimetalists, who are
wbttily called bye and bye metalists,"
is that it will place this country upon
a silver basis.
End. 1t was argued that our gold
would all be withdrawn for a premium
and reduce the volume of our ~circula-
ton and produce a panic.
Let us weigh these arguments.
Free coinage is resisted because it will
initiate; make money cheaper.
Is it not a strain upon the mind to
believe that it will make it dearer at
the same time? Will not the eflux Of
our gold to Europe cheaper it there
advance prices of all property. They
know it there. Could we send all We
have here idly locked up to Europe and
substitute good bonds such as they
gladly take, and issue legal tender
money to the same amount, we would
save the interest and make the prin-
cipal In two years in the advanced price
of cotton and wheat. Such would be
the effect Of an addition of $500, 000, 900
to European money, and a like result
would follow our opening our minis to
silver, not to buy but to coin it.
AS to the silver basis. Is it not a
lesson for Americans to realize that
Mexico, with it's mixed non-progressive
population, is in the high tide Of pros
perity on a pure silver basis. The lat
est intelligence is that cotton is selling
there at 1917 cents per pound. and corn
at $3.50, and that her export trade is
wonderfully stimulated by the differ
ence in exchange, and that as a conse
quence it is the most attractive field in
the world for capital. And France, the
n great country which honors it's sill
yer coinage and Its legal tender paper,
and permits nc man to demand gold,
yet within her borders holds more gold
and more silver than any other nation,
and her own people own her just debt
of Sc, 900, 000, 900, all because the French
people provide a volume of money COM
mensurate with the wants Of the people.
Money, the true and chief instrument
of commerce and of wealth creation.
France, with a territory about as large
as Texas, and with a. population about
half as large as ours, has, 1t is reported,
5000, 900 900 of silver, Of gold, $500, 0O0,-
900 to $500, 00O, 900, and of paper money
$500, 600, 900, all held at par because ION
ored alike by law.
America, controlled by Wall street and
Lombard street, is seeking to contract
the volume of money and with results
now everywhere apparent in falling
prices.
1t was a favorite play against our
freeacOinage of silver that it would draw
upon us the silver of the world, but the
late secretary Window so ~conclusively
exposed its fallacy in his first great re-
port as secretary of the treasurer, in
which he stated that no nation in Eu-
rope would spare it's silver coin, all be-
ing needed at home and all being pro-
tected by law in it's legal value. Be-
sides, its expectation to our country
would entail a very heavy loss. So the
above argument is little used.
The. pig metal argument awaited moth
ing against the fact that the vast bulk
of the silver of the world available for
money is money, and that there was
not, and is not, any large accumulation
Of bar silver in any market in the world.
The cheaper silver argument never
possessed any force, for the cost Of sill
yer is no more measured by bonanza
yields than the cost of gold is measured
by the cost of the $40, 900 nugget which
enriched the lucky finder.
The dishonest money" plea has been
hooted out of court as the most dis
honest and unworthy of all, since the
whole world is being compelled by the
continuous decline of prices which fol-
lows the decline in the gold price of bar
silver, that the most dishonest money
imaginable is one which under form of
law is ~defrauding all debtors and tax
payers by its constantly increasing
power over all other property.
During this long continued battle of
J1O L 10, VAC duNOCOCCS VI SOlu
have been driven from pillar to post.
and as fast as they are driven from one
position they seize another. Now, the
correct thing is to profess that they one
and all are bimetalists of the bye and
bye kind.
When the devil was sick the devil a monk
would be;
When the devil was we'll the devil a monk
was he"
From the President down to Hon.
William M. Springer, the lowest, one
and all now and then declare that thew
are ~bimetallists. Even Senator Sher-
man the great betrayer of his coun-
try's interests, Is a bimetallist at a ratio
of 80 to 1, though on record as con-
demning the Is to 1 dollar as being too
bulky now, and yet too valuable when
he got in his ruinous work in 1873.
Outlaws to reason, they pay no atten-
tion to the fact that England herself
was under the bimetallic law which
for the world held the ratio at 15H to
/ up to 1874, with the positive dis
exchange her gold for silver to conduct
any campaign on foreign soil, and to
supply her Asiatic trade and her Indian
government, by paying a brokerage in
Paris. She could not spare her own
coinage. The very life of the domestic
exchanges of the United Kingdom is so
dependent upon its retention at home
that to secure that retention it <vas all
lowered to a ratio of IA 1-3 to 1-lower
than that of any other country. The
use of her silver coin abroad involves
= heavy loss. Even when able British
"a A>-x- ~-