The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-08-24
JUGGLING WITH TERMS OF
VALUE.

1uilof OF Inc Jersey City
Mr.. Bryan, In his speech at Madalin,
near Tfvoli, N. Y, INDUCED in the fol-
lowing SARCASTIC fling at some Of his too
careless opponents who talk Of a fifty
three cent dbllar, and at the same time
of At per cent. profit to the mine owner
Now you can see the absurdity of it.
II the silver mine owner, under the law
OF free coinage, find that his silver doll
lar is raised SO that which is now worth
fifty cents will be worth one hundred
cents then there are no fifty cent dol
lars, and If the other man is correct and
the law adds nothing to the value of the
worth Of silver into a fifty cent dollar,
then the MIKE owner has not made a
cent.
Mr.. Bryan is perfectly correct. But
let us apply his own method of analysis
and see if the same glaring contradic-
ton is not involved In his own plea for
a cheap dollar
Now see the a~bsurdity of It'll If the
silver mine owner, under the law of free
coinage, finds that his ounce of silver
Is raised SO that what is now worth Sc
cents will be worth s1.29, then there are
no cheaper dollars with which the debtor
may more easily discharge his obliga-
lions, and the seller of commodities find
his promised enhancement Of valuesi but
If my other contention Is correct-the
contention I make whenever / talk to the
farmers of the Western country and the
debtors of the East-that the gold dollar
is a 200 cent dollar and that we need a
dollar of lesser value to raise prices
then my other contention-the contention
l make to allay the fears of Eastern
/ annoorxvo4s-r~ y +t-o 49,. -{lx-ar anl11 - ~
der free coinage will rise to a parity with
a gold dollar is pure assumption. and
resembles nothing 50 closely as the two
snakes, each with his tail in the others
mouth, until in an ever narrowing circle
they both finally disappear, each having
swallowed the other.
Will the debtor hug to his soul the fam
| cied delusion that Mr.. Bryan has prom
ised him a cheaper dollar with which to
| pay his debts. Let him read this Tivoli
| speech again
BY Increasing the demand for silver We
bring silver up until gold and silver meet
at the ratio now fixed by law, and a
| silver dollar and a gold dollar will be of
the same value all over the world.
Will the man of fixed income take to
himself this f1attering assurance hat his
investment is not threatened-that no de-
| probation of the dollar has been promised
to those who seek to pay their obliga-
ions in money they borrowed. Let them
read this Tivoli speech again
My friends, there is a statement that
no man who has respect for his reputa-
ton would dare to dispute that the es-
tablishing of gold as a sole unit of value
/! throughout the world and the distinction
| of silver as a standard money means
that you destroy the value of all property
| except money and investments that caA
for a fixed amount of monies.
If Mr.. Bryan's proposal is not to di-
minish the value of money then it is no
| remedy for the destruction of uhe value
Of all property and the condition of
things set forth in the preceding para
| graph; but if "a silver dollar and a gold
dollar are to be of the same value al
over the w~orld"-silver, as Mr.. Bryan
assured us in his Madison Square Garden
speech. going to sl.29 an ounce-then is
| the free coinage of silver a mere feast
Of Barmacide TO the debtor and the poor
fool who hopes to raise prices. The pre-
else faults Of logic with which Mr.. Bryan
hastens to accuse his opponents are the
foundations of the reasoning in every
| speech which he has so far delivered.
Let US xamin another of Mr.. Bryan's
statements
The man who says that bimetallism is
desirable, and yet that the United States
Is fmpgtent to bring these advantages to
our people, has made an admission that
l shall not make.
Now, Mr.. Bryan would have been no
less ridiculous had he said: The man who
says universal free trade is desirable, and
yet that the United States is impotent to
bring these advantages to our people, has
made an admission that shall not make.
Or, the man who asserts that a uni
| versal unit Of value-by which the French
franc, the German mark, the English
sovereign, the American dollar shall find
expression in one TERMS desirable, and
yet that the United States is impotent to
bring these advantages to our people, has
made an admission that I shall not
make.
Or: The man who asserts that a uni
national clearing house system by which
shipments of gold between here and
Liverpool may be rendered unnecessary
may be desirable, and yet that the United
States. etc, etc., has made an admission
that / shall not make.
Or land inally), the man who asserts
that universal arbitration as a means to
permanent peace is desirable, n yet
that the United States is impotent to
bring these advantages to our people, has
made an admission that l shall not make.
Mr.. Bryan is talking what is the purest
nonsense. For admitting the probability
of free coinage by the United States,
establishing the parity Of gold and silver.
how much more probable is such a re-
suit made by the adoption of the free
coinage of silver by all the world? But
even then what becomes of the debtor
whose hope is a deprecated dollar? Must
he still continue TO be slaughtered to
make a Roman holiday for Wall street
and the Bank OF, England?
JOSEPH DANA MILLER.
LACKED oUTI