The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1896-08-20

sire to pay their debts In cheap dollars
| or demagogues who desire to curry favor
with the people.
They must rest their opposition on the
| ground only. namely, that the supply OF
silver available for coinage is too large
| to be utilized by the United States. If
our mines are opened TO free and unlim-
tied coinage at the present ratio. mer
| chandise silver can not come here. The
| labor applied to 1t has made it worth
more In the form of merchandise than It
will be worth at our minis. We can not
even expect all of the product of silver
| because India. China, Japan and Mexico
and all other silver using countries must
satisfy their annual needs from the an
nual products. The arts will require a
large amount, and standard countries will
! need a considerable quantity for subsdi-
| airy coinage. We will be required to coin
that which is needed here and not needed
elsewhere, but If we stand ready to take
and utilize all of 1t, other nations will be
compelled to buy at the price which we
| fix.
Measured by Gold.
Some of our opponents attributed the
fall in the value of silver when measured
by gold to the fact that during the last
quarter OF century the worlds supply
Of silver has increased more rapidly han
the worlds supply OF gold. This argu-
ment Is entirely answered by the fact
that for the last five years the annual
production of gold has Increased more
rapidly than the annual production Of sill
yer. Our opponents can not Ignore the
fact that gold is now going abroad, in
spite of all legislation to prevent 1t, and
no silver is being coined to take its place.
There Is only one way to stop the in
creasng flow of gold from our shores,
and that Is to stop the falling prices. The
restoration of bimetallism will not only
stop the falling prices, but will to some
extent restore prices by reducing the
worlds demand for gold.
Charge of Reputation.
tine charge of Reputation comes with
poor grace from those VINO are seeking
to add to the weight of existing debts
by legislation which makes money dear
er, and who conceal their designs against
tho general welfare under the euphonious
pretense that they are unfolding public
credit and national honor. In answer to
the charge that gold Will go abroad, it
must be remembered that no gold can
leave this country until the owner of
gold receives something In return for It
which he would rather have. In other
words, when gold leaves the country.
those who formerly owend 1t will be ben
Gifted. There Is no process by which
we can be compelled to part with our
gold against our will, nor is there any
process by which silver can be forced
upon us without our consent
In reply to the argument that i'm
proved machinery has lessened the cost
OF producing silver, 1t Is sufficient to saw
that the same is true of the production
OF gold. and yet. Notwithstanding that.
gold has risen in value. AS a matter of |
fact the cost OF production does not de-
termine the value of the precious metals. |
except as it may affect the supply. If
for instance, the cost of producing gold
should be reduced 30 per cent without |
any increase, the output purchasing DOW |
er OF gold would not fall. 1t is often OBJ |
Jected that prices of gold and silver |
cannot be fixed In relation to each other. |
because OF the variation in the relative |
production of the metals. These argu-
ments also overlook the fact that If the
demand for both metals at fixed price |
Is greater than the supply of both, the
relative production becomes immaterial.
III 1t Is asserted by our opponents that
the Tree coinage OF silver is Intended only
Tor the benefit of the mine owners. II
must be remembered that free coinae ga
cannot benefit the mine owner any more
man demonetization took away; and 1t |
must also be remembered that the loss
has brought to mine own
srs Is Insignificant compared with the
oss which this policy has brought to the
est of the people.
Ihose who believe that the restoration
u silver is needed by the people should
lot be deferred because an Incidental
'ehent VIII come to the mine owner. The
INSTRUCTION OF forts. the deepening CT
'aroors, the Improvement Of rivers. the
rection OF public buildings-all these con-
er benefits upon individuals and commu-
liues' and yet these incidental benefits
10 not deter us from making appropria-
IONS Tor these purposes wherever IT ham
'ens to be necessary for the public GOOD
we are told that the restoration of BIZ |
netallism would be hardship upon |
nose who have entered into contracts
payable In gold coin. but this is n mis- {
axe 1t VIII be easier to obtain the
'oid with which to meet a gold contract |
Vhen most OF the people can use silver. {
nan II is now when every one Is trying | S
secure gold. The Chicago platform ex-
ressly declares in favor of such legis- 1
ation IS may be necessary to prevent for !
ne future decentralization of any kind 8
legal tender money by private con I
ract. q
international BimetnIIfsm.
IN conclusion permit me TO say word | d
regard to International bimetallsn. n
'e are not opposed to an International :
ereement looking to the restoration OF @
lmetallism throughout the world The :
uVocates OF free coinage have on all oc-
ssions, shown their willingness to CO. :
perate with other nations in the re-
statement OF silver but they are no, I
iiling to await the pleasure of any other
oVernment when immediate relief is
eeded by the people Of the United States.
nd they further believe that the 'nde- Il
endent action of the United States win {
the better assurance OF international I
metallism than servile dependence upon r
reign aid. +
For more than 30 years we have in a
ted the assistance of European nations. n
1t any progress in the direction Of in c
irrational bimetallism has been blocked o
: the opposition of those who derive a h
'cuniary benefit from the appreciation |.
gold. For a people blessed with the A
II natural resources to proclaim them r
Ives impotent to frame a financial sys- n
IN suited to their needs is humiliating