The Progress., 1896-09-17

ting tho penefltv Ut DirAetallicm, object
to coinage at the present ratio
they are deceived by this objection,
they ought 10 remember that there are
nc bimetallists who are earnestly en-
deavoring to secure it at any other ra-
ito than Is to 1. We ere opposed TO
any change in the ratio for two rea-
sons:
Must Not Change Ratio.
First because change would pro-
duce great injustice, and second, be-
cause change in the ratio is not nec-
essary A change would produce IN
Justice because, if effected in the man
! ner usually suggested, it would result
| in an enormous contraction in the VOL
ume Of standard money. Those who
have advised a change In the ratio
have usually suggested that the silver
dollar be doubled If this change were
! made it would necessitate the recoinags
Of four billions Of silver into two Dill
lions Of dollars. There would be an
Immediate loss of two billions Of dol
lars either to individuals or to the gov
eminent, but this would be the least
Of the injury.
This contraction, by increasing the
value of the dollar would virtually IN
crease the debts Of the world billions
OF dollars and decrease still more ths
value Of the property OF the world az
measured by dollars. Besides this I'M
mediate result such a change in the ra'
ito would permanently decrease the
annual addition to the worlds supply
OF money, because the annual silver
product when coined into dollars twice
as large would make only half az many
dollars.
In 1878 Mr.. Carlisle said: Man
I kind will be fortunate indeed II the
Q annual production of gold and silver
e coin shall keep pace with the annual
!" increase Of population and industry
repeat this assertion.
:, Eaaler to Get Gold Then.
1--WE are told that the restoration OF
!, bimetallism would be hardship upon
~ those who have entered into contracts
II payable in gold coin, but this IS =
- mistake. It will be easier to obtain the
a. gold with which to meet gold CONTRACT
when most Of the people can use silver
than it is now when every one ID try
/. ing to secure gold.
"Some of the more jealous opponents
80 Of free coinage point to the fact thai
10 thirteen months must elapse between
-, the election and the first regular ses'
en sion Of congress, and assert that our
ls ing that time, in case people declare
~ themselves In favor Of free coinage
~ all loans will be withdrawn and Oh
40 mortgages foreclosed. The president
n0 is empowered to convene congress II
~, extraordinary session whenever TN
Ill public good requires such action. II
ia November, the people by their bal
'lu lots declare themselves in favor OF tn
lei immediate restoration Of bimetallism
re- tho system can be inaugurated withn
~, few months.
Md "If. however, the assertion that loan
A. will be withdrawn and mortgages fore
nm closed is made to prevent such politics
action as the people may believe t
q, DO necessary for the preservation q
,ne their rights, then new and vital issu
A., is raised. Whenever It Is necessar
CIV for the people as whole to obtai
~ consent from the owners Of money an
y. the changers Of money before they ca
W. legislate upon financial questions, v
!. :. shall have passed from democracy
w.. w.. a plutocracy. But that time has n
Nh yet arrived. The people who IN -
-, w rejected the doctrine that kings ri
an by divine right will not in this gener
anu ton subscribe to doctrine that mon'
is omnipotent.
International Bimstallism.
1--WE are not opposed to an intern
oos4 tional agreement, looking to the re
: ~ iteration of bimetallism throughout {
49, world but We are not willing to avn
md. the pleasureof other governments. wh
A. immediate relief is needed by the pc
,.,aa ple Of the United States. and th
no further believe that Independent acti
rsc, offers better assurance Of information
cost bimetallism than servile dependel
uced upon foreign aid. How long must
"a IN wait for bimetallism to be brought
81 an us by those who profit by monomet
long ism! II the double standard
SUM bring benefits to our people, who
e all deny them tho right to enjoy tn
cost benefits? In taking this proposit
cred. VIC simply maintain the dignity OF
100000 citizens, who are second
..... none in their capacity for ssls-gove
!. a. ment.
nine. 1.-THE gold standard has compel
that the American people to pay ever
nine. crasing tribute to the creditor natl
etiza. Of the world-a tribute which no
S.... - AnSnnA I aaaNrf that natl