The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1896-08-15

confess the superiority of double
standard when joined in by the leading
nations of the world. or do they still
insist that gold is the only metal suit
able for standard money among civil
lied nations? If they are. In fact. desir-
Gus of securing bimetallism we may ex-
! pect them to point Out the evils of the
/ gold standard and defend bimetallism as
| a system. IT, on the other hand. they
are bending their energies toward the
permanent establishment of a gold stand
ard under cover of declaration in favor
of international bimetallsm | am iusti-
fled in suggesting that honest money
cannot be expected at the hands of those
who deal dishonesty with the American
people. What is the test of honesty IN
money? 1t must be found in the pur-
! chasing power of q dollar IN absolutely
honest dollar would not vary in its gem
eral purchasing power. 1t would be alb
solutely stable when measured by the
average of prices. dollar which in
| creases in purchasing power is just as
| 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 recommendation and bimet-
allism the government fixes the weight
and fineness of the dollar, invests it 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.
"Bmetallism is better than monomet-
allism, not because it gives us a perfect
dollar-because that is a dollar absolutely
unvarying in it's general purchasing
power-but because it makes a nearer APP
proach to stability, to honesty, to JUS
tice, than a 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-
pie of this country; but now, when each
step toward a universal gold standard en-
hances the purchasing power of gold, de-
presses prices, and transfers to the aock-
cts of the creditor class an unearned in
]
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.
ANY 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 Mistake.
Our opponents sometimes admit chat
it a mistake to demonetize silver
but insist that we should submit to the
present conditions rather than return tC
bimetallism They err in supposing tnat
we have reached the end of the evil re-
suits of the gold Standard we have no
, reached the end. The injury is a con
tinuing one. and no person can say how
the world is to suffer from the attemp
to make gold the only standard money
The same influences which are now oper
ating to destroy silver in the United
States will, if successful. be turned
against other silver using countries, anI
each new convert to the gold STANDARD
, will add to the general distress. So lon!
q as the scramble for gold continues prices
\, must fall, and a general fall IN prices il
, but another definition of hard times. GU
opponents, while claiming entire disinter
f estedness for themselves, have appealed
q to the selfshness of nearly every class o
society, recognizing the disposition of tn
p individual to consider the effect of an.
+ proposed legislation upon himself
, I'VE present to the American people
the financial policy outlined in the Chi
!, cago platform, believing that it will re
, suit in the greatest good to the creates
number The farmers are opposed to tn
gold standard because they have felt ii
effect Since they sell at wholesale 81,
buy at retail, they have lost more thai
{ they have gained by the falling prices
and besides this they have found tia
f certain fixed charges have not fallen g
all. Taxes have not perceptibly de
) creased. although it requires more farm
- produce now than formerly to secure IN
money with which to pay taxes. Debt
have not fallen. The farmer who owe,
$1,000 is still compelled to pay $1,000, al
: though il may be twice as difficult a
formerly to obtain the dollars with whicl
to pay the debt. Railroad rates nav
not been reduced to keep pace with tn
falling prices, and besides these item
there are many more. The farmer ne
thus found complaint against the sol
, standard.
Wage Farmers Injured.
Wage earners have ben injured by
gold standard. and have expressed them
selves upon the subject with great en-
phass. In January, 1895. a petition ask
ing for the immediate return of the FIRE
and unlimited coinage of gold and silve