The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-10-28
would mot have bimetalligm, but SILVER


monometallism.
If, on the other hand, a country had
silver and gold both in use in its cur
rency, that country would certainly
have practical bimetallism.
This is what Mr.. Bryan promises US
gold and silver both in use in our cur
rency.
But we have seen that If the mints
are opened to the free coinage of silver
it, being the cheaper metal, would drive
out the gold, and we should be left with
only silver for currency. This, as we
have seen, would not be bibetallism,
but silver monometallism.
Therefore, although Mr.. Bryan prom
ises bimetallism, that is not what he
would give us, but monometallisn-sil-
yer monometallism at that.
One must not allow oneself to become
confused by names or phrases, or even
by beliefs or promises One must go by
the true inwardness of things.
1t will not do to believe that some
thing is bimetallism because somebody
says it Is, when in reality it is silver
recommendation.
Calling Silver monometallism bimet-
allism does not make it so.
On the other hand What have we in
this country to-day?
The United States treasury statement
OF october lst 1896, shows That we nave
IN circulation exclusive OF treasury
holdings) $517 100000 of gold and gold
coin certificates, about SAIL, 900 of
silver dollars and silver certificates
(qulte apart for S60Ooo,oO0 OF subsidiary
silver coin). is not this practlcal pl-
metalllsm?
How much more blmetalllc would we
be AFTER we mad driven out all the gold,
ana left only silver?
In point of fact then it is apparent
that we already nave practicaI plmet-
alllsm enough not Tree silver colnage)'
ana that II we nave Tree SILVER coinage
we shall only get silver monometailisn'
Although we ALREADY nave plnetai-
ism, our measure OF Vaiue is the golu
dollar; that is to say no matter Whlch
Klnd OF currency is USED IN paying a
oeot, Whether a gold qoIlar' or a SILVER
dollar, or greenback, or treasury
note or silver certificate, they are al
measured by the gold dollar, winch IS
our unit or standard OF value, and at
the present time all these hve dlnerent
xmas OF currency are equal IN purchas-
ing power to the gold dollar. And SO
When any exchanges take place in this
| country in which no money is PAID as
where payment is made by note, or by
the exchange OF other property, the
amounts are reckoned in dollars, and
the dollar in mind is, at the present
time, always equivalent in value to the
gold dollar Thus the gold dollar IS the
measure Tor standard of value to
which all values OF property and money
are referred In this country at the pres
ent time, and by which they are meas
ured.
This property of being the measure
Cor standard) of value, it will be OBJ
served, is quite distinct from the prop
erty of being a medium Of exchange.
Thus where one or more gold dollars
are given in exchange for property.
they not only serve as a measure Cor
standard) of value, but also as a medi-
UNI OF exchange for that value; where
as had silver certificates been used, the
gold dollar would still have been the
measure Cor standardD Of value OF the
article purchased, while the silver GER
/ tiflcates would have been the medium
- e, 1Aoi'anse useu'
ilis uistilio,loil was 10y riesliy sis-
gu ~ Fsii a. .isie - zig 1se" ~
ii,s roSr u eepeeiilpei - i01o eiiti'i'su
~ ', ', " hi lisa, iils'ii 9ot 49,
800 ~ 90 g. 4oli9"s ~ ~ 49,
- - e..s. - ~ y. -
., 80,
!" 90 '.7ine, iseis, 80, 10, oee'l9'
- IL j., e,,,s,.,,, :,
WIN ~ -. aie ~ y $1,000 Dsss,.'
~ -" $50 e -. 49,
~ &c pa '.l 80 ~ -
80 = III.
.ils.. 800 Il - = 90 4,
.iloii,s 80 - eVi' -
4 W nels ss,Seu W. pui poses' - >. 40 a q
lio - e 90 .
iiisrasuie Nats,,e'aiul " vaius
~" - "a peiSeis - eiie'., - -
49, possio - ~ ~ oiie iilet''' =. :
" - ss'iee' a,,o q = Oh
l,e.als 81 Nlns 90 ilieului,ls y ~
standard inst as wa now have botb
cold and sil1,or serving g ,,,onay az a
,,,al,;,,,,, ~ ne,a fo,. ,.tio,os ho,,,.,
ond eaI5 ,,,5ar tha si,,s,Ia erol5 y,,o.,s,,,o
/ nv. s.+ondarda
Aiioeeu - iiiipossioie ~ nave the
Two slanoaros u Vaiue IN operatioh az
tnee Same time, because sliVer.sslitictua-
ates so Hluch tiiat even II tine ratio oi
eaiue oe.weeii IL anu soiu was eAae'iy