The Dupuyer acantha. [volume] (Dupuyer, Mont.) 1894-1904, 1896-06-04
The Bi-metallic Standard.

assailing the free and unlimited
coinage of silver with the fer7or
and enthusiasm of Wall street
gold bug. ''In fact, he proclaims
to a startled world, "the double
standard, that is standard OF
values composed of gold and silver,
has never been a success, nor can
it be under any method yet prac-
tised." And yet it is matter of
history that silver and gold have
been used as money rently
for thousands OF years, and our
own country had the double stand
ard of values up to 1873. mr.. cor
son assumes that the double
standard is impracticable because
the two metals would drift apart
But up to the time of the act of
1873 there was no serious "driff-
ing apart The maxim separa-
tion of gold and silver prior TO
1873 was in 1913, when the two
metals stood in the ratio of l to
1925, Notwithstanding the fact
that there was the widest diversion
in the production of the two
metals.
Prior to the decentralization act
of 1873 the price of silver was
main tanned independent of the
ratio of production of the precious
metals. From 1883 to 1910 there
was produced in the world thirty
two times as much silver as gold,
and the price of silver, in this
country during that period was
from $1.29 to 1892 per ounce
From 1841 to 1850 there was
fifteen times as much silver as golt
produced in the world, and during
this time the price Of silver re-
NAMED substantially the same
81 20 to 81. 32 per ounce. 1t wa'
not until silver was stricken from
the II onetary service of our coun
try that the ''dlifting apart" be
gan AS long as tie law treated
Doth metals as equals silver helt
it's own, Notwithstanding the DIFF
ference in production.
mr.. corson says there is M
instance where bi-metalism ha
been satisfactorily main tanned, ant
yet, during the eighty years whic
the United States had a bi>metalll
standard, there was no complain
against it. At no time did th
! people demand that it should b
J abandoned. 1t was never an issu
! in any campaign, No politics
: party had for its Shiboleth "rh
0 decentralization of silver" Han
D ilton, Jefferson, Webster, Lincolr
f Blaine and other great statesme
s and fnanciers were unanimous
. commencing the system, as ne
S only wise, but essential to til
n prosperity of our country III
law of 1878 was enacted, not
e the instance of the people, but
the special request of the none
power, and so skiIfully was the az
J. engineered through congress thi
e not even the Legislators then
T. selves realized what had been do,
a until after the law was in oper;
l. tion.
+ If bi.metalism, such as eXistt
'l in this country prior to Is
& worked a hardship upon the peop
d or was disastrous to the busine
e interests of the country. histo
I'd fails t. record that fact. Perha
mr.. corson can tell US just wi
" silver was demonetiZed.
n, Baron Rothchild, before Fren
5. monetery convention in 1859 sal
to "The simultaneous employment
~ the two precious metals is sat
factory and gives rise to no co
ce plant. Whether gold or silv
he dominates, for the time being,
se is always true that the two met
r. concur together in forming
&C. monetery circulation of the wor
and it is the general mass of
two metals combined which SER
as the measure of value of thin
-, - The suppression of silver wo
~ amount to vcritabIe destruct
of values without any compen
ton"
believe the history of our c
led country will verify the alb