The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-08-22

viii be struck down at blow II the shah
low projects Of the Democratic and Popu-
HIST platforms be realized.
bnt you have heard from our free
coinage friends here that other nations
have done this. And there are many good
peonie who believe that France is doing
Y, ana that the Latin union-so-called---is
DONG II. Now, would like 20 know why
they cant tell the entire truth about this
matter. Let MS not deceive each ctDcr
and let nobody deceive us The Ltfin
union - composed of France. Belgium,
| italy, Switzerland and Greece. liz was
formed In 1865 by treaty between those
powers. whereby each agreed until the
year loSO TO take the coins OF the other
powers az the ratio of 1919 10 l.
But Germany demonetized silver: she
nau ceased TO coin il, and so. in 1873,
lnose great nations, headed by France
.the, most scientlhcaly-gov country
IN the world and the one which has the
most accurate financial ideasl. say those
countries, after Germany had demone-
tized silver IN 1878. limited their silver
coinage, and by 1876 they suspended IL
entirely. They, those great European
nauons-France, the strongest monetary
nation In the world. with her allies-un-
dertook with all their power 10 do pre-
clsely what the free coiners of the Unit
ed States are asking this government
TO undertake In the light of such con-
spicnous failures OF other nations.
InvariabIe Standards Needed.
Now, everybody admits-I think the
most rampant free-coiner declnimer
would admit-that the money unit should
| remain rs nearly inyariable MS posSibe
Now: | say gold has so remained. Sill
yer has fallen commercially like other
articles. This Is denied. They say sill
| yer has not fallen, that gold has risen:
Now, that Is the way YOU look at II.
You can look at IL through the deluding
glass Of idcalism and II may appear that
way, but II Is an optical Illusion. Now
LET me put mn illustration from nature.
The waters Of Lake Superior. that great
inland sea which floats so much OF our
commerce and is such an element in our
prosperity, have for many years been
falling. until now they are lower than
they have been AZ any time for fifty
years. and everything on their surface
has fallen. The waters Of Lake Supe-
rior. like the universal. spread-out plane
OF humanity. bearing everything upon its
surface-thOse waters bear the fleets,
vessels and craft of all kinds. and YES
sells and craft and fleets Of all kinds have
fallen with the water. What would You
think of man standing on the deck Of
one. OF those vessels saying. This YES
sci has not fallen; this vessel stands Just
whore Il did. but the universal shore Of
Lake Superior has riscnT Laughter
and applause.l
Now, ! say, my friends. that since the
Latin union, from 1913 10 1876, aban-
doned free coinage, there has existed in
European nations and the United States
the only practical bimetallsm. Let me
repeat this. | feel that | cannot bear IL
into your minds too often or too urgently
that these nations, including ours. are
the only nations on the face OF the earth
that have any bimetalism whatever.
And why! Because they went to the
danger line. rs we went. and then
stopped. lApplause.l The universal
teaching OF history demonstrated that
there was n dead line, beyond which
silver could not be pressed without the
immediate humiliation of it's companion,
gold, ms n useful, working money mcdi-
UNI. And when any man gets up and
dreams and soliloquizes and philosophers
! before me and tells me he knows it won't
be SO IL we try where others failed, I
tell him that an ounce Of fact is worth
a ton of theory and that something bodi-
ly IS worth q. million OF disembodied
ghosts. lApplausc.l
what is RatIos
And yet these gentlemen favor. In the
face of these historical examines and
warnings. that the United States shall
make the unit Of coinage the silver dol.
lar at the ratio Of rs Co l.
Now, what Is ratioy Ii Is not SIG "a
81. as some people claim. daughter
Ratio means this: That there shall be-
sixteen times more silver in weight in n
silver dollar than there is weight of gold
in gold dollar. Or, TO put the definition
In another form, that sixteen ounces Of
silver. when coined, shall be the cqniva-
lent of one ounce OF gold when coined
When gold measured by silver is worth
SIG per ounce, no disparity in value can
exist; but when measured by silver the
ounce of gold is worth $31 an ounce com.
mcrcially. disparity results. Such Is the
present condition. and yet the free silver
men assert that IL will be no such thing
i'm case legislative fiat endeavors 10 make
two and two five instead OF the old.
fashioned result two and two four
The trouble il That our friends have
confused the ratio of weight with the
ratio of value, and are trying 90 confuse
the people with IT, The ratio Of weight
and the ratio OF value were once the
same. but they have changed They
changed more than thirty years ago
Other nations saw II and oheyed the i'm
perial hchcst Of that change before we
did and the ratio Is now throughout
the world 32. or about %. Go I.
Now | say that no legislative fiat what
cvcr-it does not lie in the power of man
III was about 90 say something more ex-
trcmc than that which IL would not be
proper 10 say)--it does not lie In the
power of man TO enact that a given di-
mcnsion, volume or capacity shall be u
hairs breadth greater than the laws OF
the Almighty have fixed il from the be.
ginning. 4Applausc.)
IL is necessary that the ratio or proper.
ton of value should he invurinblc. IL Is
necessary for the production Of the thing
itself called money. speaking of il In is
great volume. AZ the volume Of money In
the United States. We sec nnalogics
everywhere; we see an analogy In nature
Take the mir we breathe IL is com.
pound substance. made M from oxygen
and nitrogen az the ratio of about "a
TO %, and while this ratio lasts il Is from
il we all draw our lives and have ouI
being. But charge Co any material de.
gree and. instead of being the vital. life.
giving air, IL becomes a deadly and dc.
structive miasma.
But the frcc-coincrs assert that unlim.
tied coinngc Of silver will restore II 10 n
rarity with gold. IL has boon tried hy
many nations of tn world. Has IL done
IN in n single instancei Not one. They
said the same thing when CONGRESS
passed the sherman act Of 1890. They
said buy Of MS freely 100000 ounces q