The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-22
seem to be positively hopeless now


and desire to establish it but no one,
two or three of them dean themselves
able to maintain the double STANDARD,
even with the cooperation OF tne
United States Ii the result OF the
measures proposed would be TO carry
US to a silver basis. it is not felt here
that such a proposal would be in line
with the principles of the Democratic
party
1T is not the joint standard with
the purchasing power of the dollar at
parity with each other but it is chang
ing from one standard to another, and
that change is being due to deprecl-
ated coin.
And it IS also felt, aside from the
absence Of any Democratic principle
10 sustain it. that you cannot have
such a disturbance Of value, as would
come from changing from gold to a
silver basis, without such shock TO
confidence. the
BOARDING OF GOLD
and contraction of our available cir
culating medium. as would bring, in
The opinion of our people. the worst
panic and distress we have ever seen
IN This country. The creditor classes
are prepared for il. The obligations,
NOR cages railroads and otherwise,
ara quite generally payable in gold.
Debts would still have to be paid in
gold but wages in silver. the sufferers,
as usual being the poorer classes,
This movement purporting to be in
The interest of the joint standard,
comes at & most inopportune time in
my opinion. There has never been
time when the prospects OF interna-
tional action favorable to the joint
standard were at all as promising as
at the present moment But an i'll
advised. unsuccessful attempt here
would discredit he cause the world
over.
From the discussion OF the last twen-
ty years. it has come to pass that among
the persons in Europe who are trained,
recognized scientists upon
MONETARY AND ECONOMIC CUES
TIONS
scarcely one but is not at. the present
moment advocating the advisability Of
the joint standard the solution of the
monetary difficulty of the world. This in
cludes every professor engaged in teach
ing Or lecturing on these subjects in the
universities OF Great Britain.
They are agreed upon the deSira biliFy
of 1t, and that il is entirely practicable,
If established and maintained by agree
ment with the principal commercial ma
lions. IL would be expected that with
such a general consensus of scientific
opinion as to be found abroad upon this
subject. ii would come rapidly 10 be the
generally received opinion OF the nations
10 be erected by
WISE SETTLEMENT OF THE PROB
LEM.
of the conventions OF the nations. Ger
many was the one that in 1892 practically
broke UP the conference which met at the
suggestion Of the United States. She in
stlucted her delegates TO meet and talk,
bun TO state TO the conference that she
would not change her imperial standard.
AS her standard was gold, that announce
ment ended all possibility of any practi-
cal results from that conference. Since
that time and within the last wear her
legislative assemblies have specifically, by
votes of instruction TO her ministers,
changed her attitude upon that point. So
that the specific objection of Germany en-
countered by the conference of 1892 has
been since considered and withdrawn.
AT the present moment Germany
France, Italy, Austria, Holland, Bel
GUM and the UniTed States wish to CO.
operate for the establishment and main
tenance OF the joint standard by interna-
Iional agreement and (most important cir
within three months in fact made a most
important concession. She has said: We
VIII do for you as much as you can do
for yourselves. We will make this great
contribution TO bimetailic system.
WE WILL GO BACK
upon our deliberately arranged methods
of providing a currency for India. We
will reopen the India minis We will
agree that they shall be kept open and
We shall therefore provide for a free
coinage of silver within the limits of the
British empire, for a population greater
in number than the populations of Ger
many. France and America put to-
gether'
Into this intense, and now just about
to be successful struggle for the esIab-
lishment of the joint standard, it is pro-
posed that We should intervene by assum-
ing TO establish it alone. Again at this
proposed action on our part these earn
est workers for the cause strenuously
protest. They say TO US you cannot sue
coed. and your failure will discredit the
cause.
s"rhe recent article of Dr. Ahrendt, in
the North American Review shows very
clearly the view taken by
OUR FRIENDS ABROAD
upon this subject He has done much
and probably more than any living man
TO advocate and bring to its domination
IN Germany this cause He is entitled to
be called one Of the leaders of public
opinion in the Prussian chamber of depu-
res that the uosifion OF Germany was
modified within the last year. He ex-
presses the opinion that free coinage I'M
dertaken by the United States alone
would simply end in silver monometallism
and discredit and put back the cause of
the double standard the world over.
1T is a question mol what we wish, but
what we are able 10 do. strong man
may undertake task too great for his
strength and break down.
1T cannot be denied that the feeling
among our people is that this free coin.
age BY the United States alone viii MOI
give US gold and silver money at
parity with each other, which is the as
sumption upon which it is taken, but VII
bring US TO silver monometallism and
change OF
OUR STANDARD OF VALUE
and that change, it is believed. means i'm
mediate ruin TO our industries and NJ
,,r9f n
is general and intense.
whether these differences can be re
consiled, il is impossible to anticipate
The Democratic party stands for princi
pies desirable TO be maintained for III,
good of the country. Most any sacrific,
might be asked of Democrats for the SAX
of the party and they would cheerful.
make il. But if the delegates from THU
locality should go to that convention ant
represent that the rank and file of Thu
party would follow the lead of on
brethren and vote for the free coinag
of silver by the United States alone, the.
would be miSrepresenting the state o
public opinion here. Whether II is so o.
not, 1t is considered a proposition to de
base the existing standard of value. AM
the same feeling OF
INDIsPosIrIoN TO COMPROMISE
else is as active and dominant here in on
party as 1t was found in the Republican
party when il bore down and overpoweret
me Mckinley machine.
Personally, il is my opinion If tn
Democratic party goes on that platform
at this time, they will meet the mos
disastrous defeat that any party has eve
had in this country. l understand it 4
honestly believed in, and people think i
will bring relief from their presen
troubles but between now and election
DAY It viii be pretty thoroughly sifted
and the people Of the country will no