The Progress. (Shreveport, La.) 1892-1900, 1896-09-05
,,,ror, waiting FOR the aIn or consent


inn that new experiment be 'r'ed, we
are insisting upon u return to man
ctrl policy approved by the experience
OF history and supported by Gil tue
prominent Statesmen OF our hal'oH
from the days of the fri 7fe|'a'"'
down to 1873.
vrcc Coinage 81 both Metal"
when we ask that our n'n's Dc
opened TO The free and UNLIMITED com
ago of silver into full lesAl-''h"''
mouor We arc simply asking 'hat ''V
same miut privileges be accorded I"
silver that are now accorded 10 s"'"'
When we ask that this coinage b" At
the ratio of lG to l. We simply ask 'ha'
our gnll roiuf ana thc standard silver
dollar which. be it rcmombrr'd. con
tans the same amount Of pure SILVER "F
tho frat silver dollar coined at our
mn,g-- retain their present wcIGnt Az"
fneness.
| "If there arc two kinds Of money 'I'
odtion muat rest either With The debtor
or with the CREDITOR If the creator
has the right TO choose the metal ~
which rayment shall be made, 1t !"
reasonable to suppose that he "''' re-
auirc the debtor 10 pay in the h'a't'
metal if thcr" is any pe'ccptblc ol"''
cncc between the bullion values OF th'
metals. If. on the other haho, VIZ
debtor exercises the option, IT Is req
sonable TO suppose that he wan pay
in the cheaper metal II one metal II
perceptibly cheaper than the other; b"
the demand thus created for me cheap
er metal will raise its Whlie III
lcssencd demand for lrer meta
will lower its price. o'h'f "olof
when the creditor has the option III
metals are drawn apart. whereas
when the debtor has tn" option, IN
metals are held together approximate
Mt the ratio fixed by law: provided tn
demand created Is sufficient to aba0r
all OF both metals presented at IN
mint. Society is. therefore, intcre"'e
I'm having the option exercised by ~
debtor. Indeed there can be no sue
thing IS real bimetalisn unless TT
option is exercised hy Ii" debtor. II
exercise of the option by the deh'i
6 compels the creditor CLASSES. whrth'
I domestic or foreign, to exert then
' selves to maintain the parity bo''Ve'
y gold and silver at the legal rati
y whereas they might find a Proht
u driving one OF the metals TO premiu
u If they could then demand the dear
metal.
y. Debtors and Creditors.
u "The right of the debtor to cboo
W tho coin in which payment snail
" made extends to obligations due frc
" the government, as well as t. co
s. tracts between individuals. A COVER
D. ment obligation is simply debt q
~ from al the people to one of the pc
10 ple, and it is impossible to justify
IL policy which makes the interest OF
oe one person who holds the ot|gatl
superior to the rights Of the many W
must be taxed to pay it. When, pr
n to 1879, silver was at a premium, it v
e. paver cpiifended that national hOl
De required the payment OF goVerhm'
I, obligations in silver, and the Matthe
gle resolution, adopted by congress
e1 1873. expressly asserted the right OF
RI United States to redeem coin obf1
le- lions in standard silver dollars. as v
he as In gold coin.
OF eve are told that any attempt NJ
ng the part of the government TO rcde
ISL liz obligations in silver would pn
ms premium upon gold. but why should
led The Bank of France exercises the RI
~ to redeem all bank paper in either
st or silver. and yet France maintains
in parity between gold and silver at
CT ratio of 15ls to !, and retains IN CT
la. lation more silver per capita than
ge- do in the United States
to I'VE contend that free and unllm
OF coinage by the United States alone
OF raise the bullion value Of silver to
lot coinage value, and thus make 81
as bullion worth $1.29 per ounce in
nd throughout the world. This prop
g o ton is in keeping with natural ];
bile not in defiance Of them. The
the known law OF commerce Is the LAY
dis supply and demand. We recog
ted, this law and build our argument i
the It. We apply this law to money "
row We cay that reduction in the vol
hat Of money will raise the purcha
re- power OF the dollar: we also apply
and law OF supply and demand to 81
of when we say that new demand
ner- silver created by law will raise
ney price Of silver bullion.
Whore the Rimetallists Diner
"The only question upon which
how ternational bimetallists and indcp
lder ent bimetallists differ is: Can
alue United States by the free and uni
ton ed coinage of silver at the present
the ratio, create demand for silver. W
ugh taken in connection with the der
ap- already in existence, will be sufit
see 10 utilize all the silver that will be
hich sented at the minis. They agree II
hose defense of the bimetallic principle
alue they agree in unalterable OPPOSITE