The record-union., 1896-08-16

its promise of payment in coin, and yet
they who believe in the constant and
increasing issues of irredeemable paper
believe in Mr.. Bryan. Some one must
be cheated in this double dealing. Who
is it to be?'
Mr.. Woodford then took up the main
question, Shall we open our Mints to
the free coinage of both silver and gold
at the ratio of Is to l without waiting
for the aid or consent of any other na-
tion?''
On this question ne asked considera-
ton of certain facts, viz:
First, that all the civilized nations of
the world, excepting Mexico, some
South American and Central American
States, Japan, China and India, are
with us, having their Mints closed to
the coinage of silver.
Second, that nowhere in the world
to-day will sixteen ounces of silver buy
an ounce of gold. Everywhere in the
world you must give from thirty to
thirty-two ounces of silver to get an
ounce of gold.
Third, no Government, with the pos
sible exception of the States composing
the Latin Union. has thus far been
able to maintain silver and gold in ac-
tual circulation upon a fixed ratio for
any great length of time.
In Illustration of this statement Mr..
Woodford reviewed the efforts of this
Government over period of years to
keep the gold and silver coins at a
parity.
Fourth, the owner of silver bullion
only brings it to the Mint when gold
is the dearer metal When gold is
cheaper he prefers to sell his silver in
the open market.
rs not this silver coinage a game in
which the silver mine owner stands al
ways to win and never to 1ose?" asked
Mr.. Woodford. Would you like some
scheme by which the Government
would give you "a dollar a bushel for
your wheat? If in the market you
could get 81 10, would you not go in
the market and avoid the Government?
When in the market you could only get
ninety cents, would you not sell to the
Government and avoid the market?
Gentlemen, [ do not wish to call hard
names or suggest unseemly epithets,
but is not this free coinage of silver
something of q bunco gamer"
He declared that all the power of the
Government could not compel a single
owner of gold bullion or silver bullion to
bring his bullion to be minted, If he
could make cents on the dollar by sell
ing 1t in the market or by shipping it
to Europe. mo man viii willingly and
knowingly surrender to another man
one dollar of value in exchange for that
which he thinks worth only 90 cents.
This is human nature You cannot
change it. You can theorize about it,
but you cannot get away from it,"
Returning to his reference to the
maintenance of silver and gold in cir
culation by the Latin Union, Mr.. Wood
ford said: Within the limits of that
Union there was, from 1865 to 1874, that
is for nine years, practical interchange
of gold and silver coins, and practical
use of gold and silver upon a parity at
the fixed ratio of 10 to /. There was no
free and unlimited coinage. Each
country was restricted as to the amount
of silver it could coin. You will note
that there was effective International
agreement between these nations, and
now mark this additional fact These
nations found that in the face of their
dealings with the rest of the civilized
world they could not keep any adj
ditionaI silver coins afioat, and so even
they stopped the coinage of silver in
1874. There never was free and un-
limited coinage within the Latin Union.
For twenty-five years there has. been
no coinage except of subsidiary coin to
take the place of that which has been
utilized and worn out If there be any
argument to be derived from the prac-
tice and experience of the Latin Union,
it is that international agreement can
cf fn
effective.
There is to-day no such actual thing
as free and unlimited coinage of both
gold and silver in any nation in the
world I put this statement in another
form. Gold circulates as money nowhere
in this world where there is free and
unlimited silver coinage. Where there
is free and unlimited coinage gold is
simply a commodity. and is sold at its
bullion value. Its price rises as the
value of silver diminishes
1--WE have afioat 1916, 100000 of green
backs, legal tender notes. We have also
about $12S. .000, 900 of treasury legal ten
der notes issued that we might give sill
yer some artificial value. We bought
large quantities of silver. We did for
silver what the generous friends of sill
yer ought to have done and more than
wise men should have done. We spent
our money. The nation did not succeed
in the speculation. What business men
could not do the nation neither did nor
could do. We thus have afloat nearly
S475, 100000 of legal tender paper. OF
this amount nearly $3500O0,0O were
issued to put down the rebellion and
save the nation. More than S12o,00O,OO0
were issued to put down gold and save
silver. We did put down the rebellion;
we did save the nation. These were
within the possibilities of human faith
and patriotic courage. We did not put
down gold; we could not. The civilized
world was against US. We did not save
silver: we could not The civilized world
was against US.
MY countrymen, let us brush away
all theories and all fancies. GovernN
ment cannot create life. Government
cannot decree death. Government can
not make two and two FIVE. Neither the
Car of all the Russias ner the most
eloquent citizen of Nebraska, backed by
all the Populists and Democrats of this
land can ever change the laws of arith-
metic, the laws of trade or the laws Of
gravitation.
''You have been very patient in listen
| ing to me so long. I leave this question
with you for your own calm, deliberate
| decision"
Lashed the Bars With Birch.
| Tt is a cold day when the really in
genious cyclist walks home with an In