The islander. [volume] (Friday Harbor, Wash.) 1891-1899, 1896-09-24
BRYAN On THE RATIO.
He Sang a Different Song on the
Subject When He was in
CONGRESS-

On the 10th of August, 1893. on tho
floor of the House of Representatives,
Mr.. Byran said:
In fixing the ratio we should select that
one which will secure the greatest ad-
vantage to the public and cause the least
injustice. The present ratio. in my iudg-
ment. should be adopted y change in
the ratio could be made tas in 1894 by
reducing the size of the gold dollar. or
by increasing the size of the silver dol
lar. or by making Il change i'll the weight
of both dollars. \ larger silver dollar
would help the creditor. \ smaller gold
dollar would help the debtor 1t is not
Just to do either, but if Il change must
be made, the benefit should be given to
the debtor rather than the creditor Let
no one accuse me of defending the just
ness of any change: but | repeat it, if
we are given a choice between change
which will aid the debtor by reducing
the size of his debt ana Il change which
will aid the creditor by increasing the
amount which he is to receive, either by
increasing the number of his dollars or
their size. the advantage must be given
to the debtor
Legislation in favor of debtors or of
creditors. as a class. would he class leg
iSlatIon aud wholly uniuStitia BILE. Cues
tons between debtors, and creditors are
properly settled in the courts: and every
court will hold that what is right for the
one is right for the other also. Mr. Bry-
an. therefore. did we'll to discaim adj
vocacy Of any change of the existing
ratio. Should a change be made at any
time hereafter it cannot and ought not
to affect contracts antedating such
change.
But in advocating the unlimited coiT-
age OF SILVER bullion. at the present ratio,
for The owner and without cost to him,
MI Bryan does propose a change of the
entire basis upon which business is trans
acted. We are informed by him that
there are three ways Ivy which the ratio
between gold and silver coin can be al
tered: !. The shrinkage in size of the
gold dollar. >. The enlargement of the
silver dollar. = Making a change in the
size and weight Of both dollars Either
of these three methods contemDlates 4
nearer approximation of the coinage ra-
ito to the commercial! ratio and is so far
forth honest. If this approximation Of
the two ratios were carried to the point
of ideaiity. The change suggested by him
would he absolutely honest-nrov;ded
that it is rrt retroactive in its application
to outstanding debts.
This is not. however the change which
would follow the adoption of free coin
age ut IL to l. There is still another
possible change to which Mr. Bryan
made no reference in his speech. namely.
the shriptage of the silver dollar A
silver dollar confirming 311H grains of
pure silver. worth .I:} cents in gold. which
nevertheless passes current for 100 cents
In gold. * an anomaly in finance. unless
explained. The explanation is simple
Fifty-thrcr cents of the current value of
this dollar is visible; ~ cents gifts value
is invisible. and consists in credit. Free
and unlimited coinage would destroy this
IL, Il
16 to 1. therefore. Mr.. Bryan proposes to
make the silver dollar smaller-nOt to the
eye but III fact.
This would he change of ratio in the
purchasing power of the silver dollar. as
compared with Il gold dollar from 1871
to 81
To avoid this result Mr.. BRYAN crave!y
proposes that we should do one Of two
things: double the weight of the silver
dollar. or else coin gold dollars half their
present weight. Anybody can sec that
one of these would have to be DONE in
order that identity should he established
between the coinage ratio and the conn
merrial ratio.
Which of these two cXne,lients Goes
Mr.. Bryan favor: He tells MS that en-
larging the silver dollar would help the
creditor. 1t could only help him by
maintaining the present standard of
vane. He also tells MS that halving the
gold dollar would help the debtor. If so,
il would be by a change in the present
standard of value Finally he tells rs
that he prefers the latter cxpedient. be-
cause the debtor has rights superior to
the rights of the creditor.
The Lesson of 1892.
What happened in 1892: Everybody
had money. plenty of money: and then
they came to you and whispered in youi.
4
money and plenty of work that you were
not buying what you bought cheap
enough: that they were taxing the many
for the benefit of the few. and too many
of the American people listened to it.
1t was the arOusing of the class of en-
ployers against the employed: and the
employed against the employer: and we
had tho change. They gave us the cheap
stuff. but in what condition did they
leave the American people:
1t reminds me of Il cOlored gentleman
who wanted to cross the Arkansas river,
and had no means. He sat down awhile
upon log and waited until someone
should come mp. Shortly white gen.
tlcman approached He says: Boss,
want to cross this river: will you
please give me two cents! | haven't r
cent in the world ''Well. sir he said,
If you haven't Il cent i'll the world it
which side of this river you are on.
And so it is with all cheap goods that
these gentlemen furnish Ms. They fill
the stores with their clothing. made of
sholdy. brought in under an al valorem
law by which the importer is made to
swear that it is worth nothing. and 1T
is worth nothing. 1t is made ont of
old hats picked up out of the streets
and alleys of our foreign cities. of rags
from Switzerland and rotton socks from
ITALY. 1t is sent over to be placed upon
American backs That is not the civil
ization we want We want American
wages. American clothing and Ameri-
can civilization. Now. in 1S96 they
came to us. We had plenty of money
before. now we have no money. They
GENE to us and say they are going to
give it 70 us: and they propose this
doubling of the face value of silver
From a speech by Congressman Fowler
of New York at Milwaukee.
Carlisle's Five Points.
..'rhere is not a free coinage country
in the world today that is not on a silver
basis.
sTbere is not a geld standard coun-
Try in the world today tlssl does not use
silver as money along with gold.