The herald., 1896-06-23

the main factor of which Is labor is tho
true measure of its value, and its average
normal market value is the evidence of It's:
true value. Hence this should form the
basis for the ratio between gold and silver
Ascertain the relative market value o.
gold and silver bullion for period of fifty
years eliminating from the calculation
such times as extremes have been pro-
duced by abnorm NJ market conditions) and
make that the ratio between gold and sill
Call in and cancel all the greenbacls,
gold and silver certificates. Issue in lieu
thereof coin certificate which shall be
redsHmahe O5eha in gold and o1 sel
debts. both public and private. Coin free.
in equal quantities. the product of Ameri-
can gold and silver mines, but limit the
same to a certain amount per capita,
which amount should be determined by the
amount per capita in circulation when the
porous. When the amount per capita nee
essary to best meet the demands for money
is ascertained, that should be made the
permanent measure of the volume of our
circulating medium and the amount Of gold
and silver coined.
Such a system would contain the ele-
isfy monometalllsts, volume" sufficient
for the bimetallst fiexibility to meet the
and ''permanency' upon which the com
mercial field could rely and hence safely
enter into such future contracts as the in
tereStS of the operator might demand.
And of these four elements that of perma-
nency should be as carefully considered
and guarded as either of the others. for
any considerable agitation for change IN
our monetary system invariably unsettles
business conditions and not infrequently
results in irreparabe damage and suffer-
ing. That there is not sufficient gold to
supply the demand for a circulating me-
dunn Is fully attested by the present agita-
ton of our monetary system. and II not,
then, not as redemption agency, one dol!
lar can not redeem a claim of two dollars.
hence If we depend on the gold standard
alone the difference DptWppp the gold
hand and the amount of money operating
as circulating medium. represents only
phantom upon which the people must rely,
or otherwise bankrupt our national treas.
Try, Nor do we have to 60 far back into
for evidence of this fact.
This. then is the logic Of monometallsm
on the other hand "nnlim I, ed, ;, coinage
ness principles than would the manufac-
turer in preparing his product for the
market regardless of the demand therefor.
There are innumerable instances wherein
manufacturers have pursued such a course.
but rarely. if ever, without disastrous re-
suits to the trade. and not in frequently
business destruction to individual concerns.
The adjustment and settlement Of our
financial question is purely a business
proposition. not only so. but as Uncle Sam
promises to live to good ripe old age. and
hence will continue in business at the old
stand for many years to come, 1t should
be settled with view to it's rermanency;no
make-shifts nor temporary eXpediences
should be. entertained for. a moment.
If, perchance. the Chicago convention
should shape its platform along the lines
above indicated then Foraker might be-
gin to prepare to perform the last sad rites
of the &. o. p.
Such a. platform ought to be sound
enough to satisfy the man who, in reality,
desires sound money on an honest basis
and broad enough for bmetallists to stand
upon.
The writer will here hazard the opinion
that If adopted by the Chicago convention
it would carry the country by q big ma
jority. w. A. WARCOE.