The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-23

the extent of 8 as q legal tender. even
with the trade dollar. snd the standard
the gold dollar was declared me sole
s;srdard and Unit.
In 1878 silver was remoreuzed aili de-
el.ied = full legal tender, but the elil pro
for amounts due under contracts made
payable In Eold. thereby surrenderlns 70
the creditor ,he option 20 demand SOFA
and IN effect declared gold the standard
and limiting the coinage OF silver TO TWO
million ources per month.
In ise, was passed the Sherman act with
tie purchasing clause. providing Tor the
purchase by the government OF four and a
half million ounces OF silver per month
and .he issuance therefor Of silver cert-
ficet's and limiting the amount OF silver
coinage 20 that amount. and IN 1888 Us re-
peal. SO that now silver IS denied coinage
at all
hsve row analyzed ell the laws Of con-
Eress In the history OF she Nation mat
deem important to a proper unders landing
OF our troubles and remedy. except that
have omitted 20 mention the a., OF se-
sumption OF lNa. This act provided that
the secretary OF tho treasury should issue
bonds with which TO huy silver 10 cancel
ana destroy the remaining amount OF sub
sidiary treasury notes. ! have also briefly
OF the people Now. "a to tn. remedy for
these bad conditions l advocate such
change IN present financial laws az VIII
provide for the free and unlimited coinage
OF silver as well as Of gold; in order, FIRST
20 Increase the volume Of currency: ser
ond. 20 double the amount OF money which
measures vslnes constitutes a medium OF
exchange OF conmodlues and pays debts
and further enactment that prohibits
contracts for future payments from speci-
Tying which coin they shall be paid IN but
which leaves I. TO the debtor TO deter
nitro in which he will pay Thereby no
class Of people could bear one metal or
bull the other.
The brief space OF time at my disposal
tonight prevents a lengthy discussion OF
mis- issue, nor do deem Il at present ne
cessary.
nave new stated TO you our present
laws You feel the effect. Jet us now study
conditions. and then determine the rem
We have now n total Of some 81. 200 O01 100
of gold and silver Ia about equal amounts
Gold Is the unit OF value aud the stand
ard or measures. ! VIII later show you
how Inc adoption OF the gold stand
arl doubles eject, the amounts OF alt
debts. by compelling the debtor 70 par
y in double the amount ~ ms products OF
labor 70 obtain the gold with which TO
pHy the debt The scramble Tor gold OPP
crates 10 make N more precious contin-
ualy a. measured in the products Il
buys. WIN small volume Of currency
producers VIII part with greater amour,
% products 10 obtain portion of it.
ihan - there was An abundance easy 10
'hih}N. II iollHNA. aS ne converse that ~
mere was q sufficient volume OF currency
"hlrh IntasWini The price of cummod tics
ihc rroilc'r Wouif br Obliged 20 mart
with less If his prolurta TO obtain a given
amount o. g and hence hih total revenue
"npld hc Doubled ~ The value ineasurinn
currency were doubled. ~ trae AMI un-
Hiit'p coiuaEe OF silver would produce
mis- result ! favor the policy Mrilc arlu-
m"ht aft'r arruincni can Doe produced for
free silver. herein. So my opinion. ls tra
R!st; First With a double standard and
providing that the debtor may choose Nm
Wui.n y"lu 10 pay. me her metal can eu-
| hnuce IN vain" MS measured tn The other.
i'r "ach VIII perform tho same function
second q dQifhl" standard viii result In
! l"l'e me volume or money that performs
~" iliI tons ~ measuring values con
fItuung medium Of exchange ana nav
lig dents, and hence producrs VIII hrlnf.
I i" rr mo price they do under the single
Epll standard. and consequently an .xIst-
ling ich's AN bee twice aq c4silv naid
Third, the prosperity OF tho Nation de-
I'h. ing upon the producing classes ex-
standard, fhttnn Off ihelr toll and LOSSES
I'f-~ aion should be passed 10 the intrr-
',i "i me lr"illcerf. II IS assorted that
, ,niE repnd ,s,i9n deny IT, for ne
/ h"ihE made lay law good money. win per
!uiih IA me hanlS of the creditor afhr
payment al legitimate functions his rot
cohli perform, and, further wa do nor
| propofo 20 change existing confracts MY
! able In gold. hut only to prohibit Inc o.
ture making 81 such contracts Tho uInr
/ VINO MAJORS uN the day week or rnnnfh
I ",u'u nr WNetttd by I, because with a
/ l1rEer volume Of currency m producert
| Wouii prc sp"r. and In turn contribute n
/ ~ prosperity. the ADVANTAGE cra-ip, =.
hoard sold. tho rrts,n standard Il, VAN
/ not rise IN Vuluc further ga mn, .,itrnt 3.
| products, it's demand thereby ce1stn., ~,
! - iohIhl1 speculative purposes 10 would
! hN WN'N''i ~ numerous lttHtintte en-.
! icrpr.hcs Ani employ labor. the nrodu,t.
{ ~ nus lanur hrding Snlo e. tne prndiielup
XXI ,a nF yfHn of their prosperity. In.
/ u"''iN Wnuil ma M re constant ompIHv.
! m'nt aud higher wages Rustrns. ,5
| W"hil una failures less rr. val.nt and thf