Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-04-25

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while silver finctuatee In tho widest
and most extreme fashion. With this
assumption running all through u. lo
dnltvorH u h0mily two hours long OH
thc evils OF fiuctuntnF currency aud
how grievousiy It Injuries tho wage
worker.
ITO handles the subject very inrcn-
lously, ms one would naturally expect
him 10. The weakness OF his argument
Hes In Ms failure 20 establish his prem
iaea Those who listened TO him and
those who have read the speech In print
must have observed that he never
slated single fact which had the
slightest tendency TO prove that gold
was stable and silver unstable He sim
ply compared gold with silver. and all
changes In their relative value We're
aheribed 70 tho silver. while the gold
was considered as standing perfectly
atlll, but not a scinulla OF proof did
lie offer In support OF tho ridiculous as
sumption.
"As before stated. he made an excel
lent speech upon tho hypothesis thnt
gold has a fixed and unohangng value.
suppose, though, IL no happens that he
has misapplied his argument. and that,
instead of gold being stable. that metal
has In reality done nearly all the chang
Ing, while the silver has practically
stood stint What would become Of HIS
argument In thnt care2 IL II not clear
tina; the bottom would drop out of a.?
or, putting II even moro strongly, would
not his speech be an argument In favor
Of the silver standard rather than the
standard OF gold2 That Is eelf.eyl-
dent,
How should we proceed to determine
whether gold has maintained stability
OF value? BY comparing gold with
gold. repeating the parrot-llltn cry that
q gold dollar Is always worth 100 cents
In gold2 Surely not, for that proves
nothing. Can Il be done by comparing
It With Hilyer2 MOI because when only
those two things are compared with
each other II cannot be determined
which has done the changing. We only
know that they have parted company.
Relatively they have both changed
Clearly. we can only judge whether
gold is or III not stable by comparing
Il with many things that are usually
exchanged tor t. Now we know TINT
all commodities bought and sold In
gold-atandnrd countries arc exchanged
for gold or It's equivalent, and that gold
or It's equivalent Is exchanged for them.
We also know, and 40 does Mr., Carlisle,
that nm ounce OF gold viii now exchange
for just about twice as much of those
commodities as II would twenty-five
years ago.
eve know, and 40 does Mr.. Carlisle,
thar wheat ana corn. beef and pork,
cotton and rye, and In fact the great
mass OF staple commodities, with only
a few exceptions, viii exchange FOR each
other upon fair average In very nearly
tho same proportions as formerly
FINALLY, we know. and no does Mr..
Carlisle, that an ounce OF silver win
exchange for about the same quantity
OF commodities In Screral as II would
~ 1879 nut that II win only exchange
for about half as much gold. In short,
that II requires twice "a much OF al
most everything, including allver. to
buy an ounce OF gold as In former
years, and yet Mfr, Carlisle coolly as
sumes that gold, Independent OF all
laws OF supply and demand. has main
tained fixed value while evorythlng
else has fallen one-half. Tho simple
ton.
Tho conclusive proof Is this:
" In isiS a man had contracted debt
payable In wheat, cotton. corn, beef,
pork Iron or almost any other com,
modify, or In silver, he could now pay
II with just about tho same effort that
would have been required then
But " he had contracted gold debt,
10 order 70 pay II now he would have
70 give w twico AZ much OF the pros
quot OF his labor na would have suniccd
90 the time the contract was made.
This may DO clearly shown by taking
SPECIFIC Instance by way OF Illus
Farmer A makes contract Ia 1879
to deliver 1000 bushels OF wheat In
lsss. The latter year comes and the
wheat delivered. II Is Just as good
and Will sustain as much OF human
life es the same quantity OF wheat
would in 1878 Both the letter and mo
elaly OF the contract have been per
Farmer y contracts at the same time
20 pay 1900 IN gold In 1893 The latter
year comes, ne has fair wheat crop.
and II 10 as good as Il ever was, but
It's price" has fallen one-haif. and 10
order TO set his LOCO gold dollars he
must give up 1000 bushels OF wheat.
The only real function OF money IN
TO enable people TO make thnir ex-
changes conveniently and justly. hut
IN tho case given the simple intervene
tlon OF Mr. Cnrllsle's "fixed" and '.un-
changing" gold has destroyed mo co
uity OF the contract and robbed Farm
er y " LOCO bushela OF wheat.
X having been shown that Mr.. Car
isles basic idea was wrong. It dis
poses O. tho entire speech, anu as
everything material which Il contains
has been repeatedly mot ana answered.
no extended review at thls time 10 nee
esnary.
There arc. however. two or three
points 70 which brief aIluslon properly
may be made.
Mr. Carlisle repeats the absurd claim
that tho free coinage OF silver MOULD
contract the currency and at the same
time make dollars" cheaper. Ho saws
that the Go0,0co0oo o. gold would be
driven out OF circulation, and thrt the
feinalnder Of our currency would
fhlnk TO 10 cents on the dollar. That Is
70 Aay, money 10 TO be made soarcer
ahc cheaper " tho aamo time.
For yeara y has been claimed that
free coinage wSlild GOOD tho country
with cheap oliver" Now VIZ are told
by this recent CONVEX, 70 goldlnn that
we are not NpinR 10 get the "flood'' AT
NIL on this htrary, ellvor IN going
70 be very "sqnrce," but at the came
time very cheap" He says that IL
we had Il ffec coinage law our mlnts
-. ..H a. /. 49, a.