The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-08-29

some NQNOEMlIr UIrtINs
cents 10 silver worth 100 cents, and the
silver dollar equal TO the gold dollar, then
we would have no cheaper money than now,
such would be the result Is against reason
and Is contradlcted by experience In all
times and IN all lands. II means the deS
the difference between the commercial ana
coin value OF the silver dollar, which II ever
Changing, and the effect would be TO re-
duce property values, entail untold finan-
cial loss. destroy confidence impair the
obligations Of existing contracts, further
inpoverish the Iaborers and producers OF
the country, create a panic of unparalleled
severity and intilct upon trade and COM
cc deadly elqM opposed any Soen
Blmetallism.
ssBimetallism cannot be secured ny In
dependent action on our part IL cannot
be obtained by opening our nints 20 ne
world, at the ratio OF sixteen ounces or
silver TO one ounce OF gold, when the
OF silver 10 one ounce OF gold. Mexico and
China have tried the experiment. Mexico
has free coinage OF sidy Nv u.a kolu a. an
half ounces of silver 20 one ounce OF gold,
and while her mints are freely open 20
lar In gold bullion Is coined and circulated
as money. Cold has been driven out OF
circulation In Lssss a ionegS nt Ana tnsy
uonai agreement ~ had, II Is the plain
duty OF the United states 20 maintain the
Sole standard of the great commercial ma
tions OF the world, with which We TRADE
more largely than any other. Eighty-
four per cent. OF our foreign trade for the
fiscal year 1896 was with gold standard
countries. and our trade with other coun-
tries was settled on gold basis
We Now Have More silver Than Gold.
.Chieny by means OF legislation during
and since 1878 there has been put ~ circu-
lation more than S62f 100000 OF silver, or
its representative. This has been done IN
the honest effort TO give 20 silver, II pos
sible, the same bullion and coinage value
and encourage the concurrent use OF Doln
gold and silver as money Pilot oo 70 ~ tha AZ
time there had been less than 3euo,OOO OF
silver dollars coined IN the entire history
OF the United States. a period OF ~ years.
This legislation secured The i;argss s , use
and the pledge 10 maintain its parity Win
gold We have to-day more silver thah
gold. This has been accomp,i,isnea mt 'ir mes
so-called Sherman law sought 20 use All
the silver product OF the United states Tor
money at It's market value From ls ~ 70 70
ounces or silver month, or 0huO,U0 ounces
"A year This was onc-third or the product
OF the world and practically all or TINS
countrv's product II was believed by
those who then and now favor free COIN
age that such use or silver would advance
| it's bullion value 20 rs coinage Nalue. nut
this eXDcctation was not realized. IN n
fow months. Notwithstanding the unprece-
dcnted market FOR the silver produced N
L
down very RAPIDLY. reaching lower point
| than ever before. Then, npon the rec
ommendation ~ President cleveland bolh
/ parties united In the repeal OF the PHI
| chasing clause OF the sherman law We
| cannot with safety engage an iurthtr cN-
| pcrimCnts I'm this direction.
Tho Double Standard.
"On tho ggd OF August. 1891, In n public
| address I said. II we could have an in-
| iernntional ratio. which al the leading
nations Of the world would ADOPT ana ~
| metals, and all agree upon the puahtltE OF
! silver which should constitute dollar,
| then silver would be as free ana unili u,
/ IA It's privileges OF coinage as soiu Is To-
1 day But that we have not been able tC
1 secure, and with the free and unlimited
| coinage Of silver adopted In the United
| States at the present ratio we would be
! still further removed from any interna
| tional agreement We may never be able
| colnagc OF silver The double standard
| implies equality AT a ratio, anu that equal
| ity can only be established by the concur
| rent law OF nations. II was the concurrent
| law Of nations that made the double stand
ard It Will require the concurrent law o.
| nations TO reinstate and sustain IT,.
! Favors the Use OF silver Money.
THE republican party has not been, ano
| is not now. opposed TO the use or silver
| money, as It's record obundanty shows. IL
has done ali that could be done for its In
| creased use, with safety and honor, by tho
! United States acting apart from other gov
crnments. There are those who think thai
1
financial prudence. Surely we can 20 ne
further. ana we must not permit fals'
lights 20 lure us across the danger line;
Eve have much moro silver I'm use thar
| any country I'm the world except india OF
China-S50O 600. 600 more than Great Britain
mare ih9n Germany: $685. OOO. 900 less thar
India and si25.OO0.000 less than China.
''The republican party has declared y
favor OF an international agrccment and ]
| elected president u Will be my duty I,
employ all proper means 70 promote !,
would defer. II not defeat. international vi
metallism, and until an intefnationn
agreement can be had every interest re
| 1ndependent free coinage OF silver az
ratio OF sixteen ounces OF silver 90 on
ounce OF gold would insure the speedy con
| traction OF tho volume OF our currency. 4
would drive at least $5OO0OO.OvO or goio
which we now have, permanently from IN
trade OF the country, ana greatly decreas
III As not proposed by the republica
| party TO take from the circulating medium
; | OF the country any OF the silver we nov
have on the contrary IL ~ proposed {
keen all OF the silver money now I'm circu
lation on parity with gold by maintainin
, shall be equal 10 gold This has been IA
, unbroken policy OF the repne ,nS par ~,
since iS # hss lnagggTSeo no and ne'
, good as gold all OF the silver and pape
! money which are now included In the cul
| rency OF the country IL will maintain the
I narify In will preserve their equality
4. -.
the future as II has always done In the pas
IL will not consent 10 put this country o
a silver basis which would inevitably 70
low independent free coinage at a ratio {
I | sixteen 10 one. 10 viii oppose the eNpu
I sion OF gold from our circulation.
. Farmers and Laborers suffer Most.
I III there IS any one thing which shoul
n he free from speculation and nuctuauo
q | 10 ~ the money OF a country. IL ought neNt
q TO be the subject OF mere partisan confer
y | ton. When we part with our labor, o.
products, or our property, we should 7,
n | Ceivo In return money which ~ as stab
= and unchanging In value az the ingenuil
!, ! OF honest men can make ~. Debasemcf
OF the currency means destruction OF va
y | uea No one Hukcra 30 much from chen
= | money "a the farmers and labOrcrs. The
4 are the first 10 feel It's bad effects and ~
. last 10 recover from them. This has bee
II the uniform experience OF all countri'
!, and here, as elsewhere, tho poor and n'
!. the rich. nre always the greatest aurerci
y from every ATTEMPT TO debase our none
= ! III would fall with alarming severity upc
(" invcsmcnts already made; upon insu
,, ance companies and their policy-holter
n npon savings banks and their deposition
y | unOn building and loan nssociations ar
i | their members. upon the savings Of thrif