The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-08-15

extent restore prices by reducing the
worlds demand for gold.
Charge of Reputation.
tine charge of repudiati ton comes with
poor grace from those who are seeking
to add to the weight of existing debts
by legislation which makes money dear
er. and who conceal their designs against
the general welfare under the euphonious
pretense that they are UNFOLDING public
credit ana national honor IN answer 10
the charge 5hat gold will go abroad it
must be remembered that no gold can
ieave this country until the owner Of
gold receives something in return for It
which he would rather have. Ia other
words when gold leaves the country
those who formerly owend it will be ben
Gifted There is no process by which
we can be compelled to part with our
gold against our will nor is there any
process by which silver can be forced
upon us without our consent
In reply to the argument that i'm
proved machinery has lessened the cost
of producing silver it is sufficient to say
that the same is true of the production
of gold, and yet, Notwithstanding that,
gold has risen in value. As a matter Of
fact the cost of production does not de-
termlne the value of the precious metals.
except as it may affect the supply. If,
for instance, the cost of producing gold
should be reduced 80 per cent without
amy increase. the output purchasing pow
er of gold would not fall. 1t is often OBJ
jected that prices of gold and silver
cannot be fixed I'm relation to each other,
because of the variation in the relative
production of the metals. These argu-
ments also overlook the fact that if the
demand for both metals at fixed price
is greater than the supply of both the
relative production becomes immateral.
IF it is asserted by our opponents that
the free coinage of silver is intended only
for the benefit of the mine owners, it
must be remembered that free coinage
cannot benefit the mine owner any more
than decentralization took away; and it
must also be remembered that the loss
decentralization has brought to mine own
ers is insignificant compared with the
loss which this policy has brought to the
rest of the people.
"Those who believe that the restoration
of silver is needed by the people should
not be deferred because an incidental
benefit will come to the mine owner. The
construction of forts. the deepening Of
harbors, the improvement of rivers the
erection of public buildings-all these con-
fer benefits upon individuals and commu-
mites, and yet these incidental benefits
do not deter us from making appropria-
tons for these purposes wherever it hap
pens to be necessary for the public good
1--WE are told that the restoration OF BIZ
metallsm would be hardship upon
those who have entered into contracts
payable in GOLD coin, but this is a mis-
take. 1t will be easier to obtain the
gold with which to meet gold contract
when most of the people can use silver,
than 1t is now when every one is trying
to secure gold. The Chicago platform eX-
pressly declares in favor of such legis-
lation as may be necessary to prevent for
the future decentralization OF any kin
of legal tender money by private con
tract.
international BimetaIIism.
I'm conclusion permit me to say "A word
in regard to International bimetallism.
We are not opposed to an international
agreement looking TO the restoration Of
bimetallism throughout the world. The
advocates of free coinage have on all oC-
casions, shown their willingness to CO.
operate with other nations in the ie-
instatement of silver, but they are not
willing to await the pleasure of any other
government when immediate relief is
needed by the people of the United States.
and they further believe that the nle-
pendent action of the United States will
be the better assurance of international
bimetallism than servile dependence upon
foreign aid.
For more than 20 years we have in
wted the assistance of European nations.
but any progress i'm the direction Of in
ternational bimetallism has been blocked
by the opposition of those who derive
pecuniary benefit from the appreciation
of gold. For a people blessed with the
our natural resources to proclaim them
selves impotent to frame a financial sys-
TEN suited to their needs is humiliating
beyond the power of language TO de-
scribe. We cannot enforce respect for
our foreign policy so long as we confess
ourselves unable to frame our own finan-
cial policy.
Greetings To New York's Citizens.
Citizens of New York. | have travelled
from the center of the continent to the
seaboard that l might. i'm the very begin
ming of the campaign, bring you greet
ing from the people out west and from
the south. and assure you that their lie
sire is not to destroy, but to build up.
They invite you to accept the principles
of a living faith rather than listen to
those who preach the gospel of despair
and advise endurance of the ills you
have. The advocates of free coinage be
lieve that, in striving to secure the inn
mediate restoration of bimetallism. they
are laboring i'm your behalf as we'll as