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



average OF prices. A dollar which in
creases in purchasing power Is just
dishonest as a dollar which decreases In
purchasing power. 1t can not be sue
cessfully claimed that monometallism or
bimetallism or any other system gives
an absolutely just standard of value.
Under both monometallism and bimet-
allism the government fixes the weight
and fineness of the dollar, invests 1t with
legal tender qualities. and then opens
the minis to its unrestricted coinage,
leaving the purchasing power of the
dollar to be determined by the number
of dollars.
Better than Recommendation.
"Bimetailism is better than monomet-
aliism, not because 1t gives us a perfect
dollar-because that is dollar absolutely
unvarying in it's general purchasing
power-but because 1t makes a nearer APP
proach to stability. honesty, to JUS
tice. than gold standard possibly can.
Prior to 1873. when there were enough
open minis to permit all the gold and
silver available to find entrance into the
worlds volume OF standard money, the
United States might have maintained a
gold standard with less injury to the peo-
step toward universal gold standard en-
hances the purchasing power of gold, de-
presses prices. and transfers to the oock-
cts OF the creditor class an unearned in
crement the influence of this great ma
ton must not be thrown upon the side
OF gold unless we are prepared to accept
the natural and legitimate consequences
of such an act.
Amy legislation which lessons the
worlds stock OF standard money In.
creases the exchangable value of the dol
lar. Therefore the crusade against silver
must inevitably raise the purchasing
power Of money and lower the money
value OF all other forms of property.
Decentralization a Mistake.
Our opponents sometimes admit that
II was mistake to demonetize silver.
but insist that we should submit to the
present conditions rather than return to
bimetallism. They err In supposlng that
we have reached the emo OF the evil re-
suits Of the gold standard; we have rot
reached the end. The injury Is a con-
tinuing one, and no person can say how
the world Is to suffer from the attempt
to make gold the only standard money.
The same influences which are now oper-
ating to destroy silver In the United
States will, II successful, be turned
against other silver using countries and
each new convert to the gold standard
Will add to the general distress. SO long
as the scramble for gold continues prices
must fall. and a general fall in prices is
but another definition OF hard times. Our
opponents. while claiming entire dlsinter-
estedness for themselves, have appealed
to the selfishness Of nearly every class of
Lot
individual to consider tho effect of any
proposed legislation upon himself
We present to the American people
the financial policy outlined IN the Chi
cago platform. believing that 1t will re-
suit in the greatest good to the greatest
number The farmers are opposed to the
gold standard because they have felt its
effect Since they sell at wholesale pnd
buy at retail, they have lost more than
they have gained by the falling prices.
and besides this they have found that
certain fixed charges have not fallen at
all. Taxes have not perceptibly de-
creased, although It requires more farm
produce now than formerly to secure the
money with which to pay taxes. Debts
have not fallen. The farmer who owed
1900 Is still compelled to pay $1,000, al
though 1t may be twice as difficult as
formerly to obtain the dollars with which
to pay the debt. Railroad rates nave
not been reduced to keep pace with the
falling prices, and besides these items |
there are many more. The farmer hts |
thus found complaint against the gold |
standard.
Wage Farmers Injured.
Wage earners have ben Injured by |
gold standard, and have expressed them |
selves upon the subject with great en-
phasis. In January. 1895. a petition ask |
Ing for the immediate return of the free |
and unlimited coinage OF gold and silver |
at 10 to was signed by representatives. OF |
all or nearly all the leading labor organ |
izations and presented u congress. All |
wage earners know that while the gold |
standard Increases the purchasing power |
OIL the dollar. it also makes 1t more diff |
cult to obtain possession OF dollar, anu |
they know that employment is less per-
manent, loss OF work more probable and |
employment less certain. Gold standard
encourages the boarding OF money be-
cause money Is raising; 1t also dlscour-
ages enterprise and paralyzes Industry
On the other hand. the restoration of hi
metaiiism discourages the boarding, be-
cause when the prices are rising money
~AA' hoe ohoru 10 lie iule IN the bank |
vaults.
Fire and Life Insurance Policies
our opponents have made a special APP
peal to those who hold fire and life insur-
ance policies. but these policy holders
know that since the total premiums re-
ceived exceeds the total losses paid, a
rising standard must be of more benefit to
'ompanies than to its policy holders.
Much solicitude is expressed by our op-
ponents for the depostors in savings
banks. They constantly parade before
those depositors the advan' ges of the
gold standard, but their appeals were in
vain, because the savings bank depositors
know that under the gold standard there
IS increasing danger that they lose their
deposits, because of the inability OF the
banks to collect their assets: and they
'till further know that II the gold stand
ard is to continue indefinitely they may
De compelled to withdraw in order to pay |
living expenses.
Huinous to Investors.
1t Is only necessary to note the in
'reasing failures in order to know that
he gold standard is runous to merchants
md manufacturers. Those who hold as
permanent investments the stocks of rail-
Dads and Of other enterprises are injured /
W the gold standard. The rising dol. )
ar destroys the earning power of these
Enterprises without reducing their liabil- q
lies Salaries In business occupatlo de- G
NM.