The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-26
REASON, NOT PREJUDICE.

ton may as well be dispaSSionate.
Hard names and appeals TO prejudice
may win in localities for season but
they are not conducive to deliberatiOn
of mind and correct opinions. 1t may
as well be conceded that there are
honest differences over the question of
| free coinage. There are some cOndi-
tons of the present situation upon
which all are agreed. That there has
been falling of prices and that this
| is in q measure attributable 10 the
| single gold standard is generally con-
celed. That the great majority of
American people desire bimetallism-
the use Of both gold and silver as stan
/ dard moneys too plain to admit of
| doubt. That the American people
would relieve themselves from this con-
| dition Of falling prices and that they
believe this might be done through a
| policy Of permanent and liberal use OF
| silver is very certain.
To this extent is all agreement, be-
yond this is irreconcilable debate and
metallism" may as well go out of use.
While the Colorado men were at one
time reconciled to the limited use Of
silver as money under the Bland-Alli-
son act, that time has passed. 1t has
| come TO be a part of the free silver
faith that any treatment of silver short
of making its coinage free and unlimit-
ed, giving it all the force of full legal
tender money that gold has, falls short
of justice to this ancient money metal
and tends TO brand it as inferior and
depreciate its value. This being true
the free silver advocate will consent to
nothing less than unlimited free coin
age at a ,ratio-16 to l by general con-
sent. BimetalliSm has no place in this
discussion while free coinage so much
more clearly expresses the idea. All
Americans are bimetallists, but this
term IS defined in such a diversity of
ways that bimetaliSts have no agreed
policy. Hence the silverites are for
free coinage.
The question has to this extent been
simplified but not relieved from diff
ficulty. To be fair, the object aimed
at by free coinage, the imitation of our
currency by adding coin the equal of
gold finds no Objectors. 1t is not nee
essary TO repeat the reasons offered by
the silverites to prove that free coin
age law would give silver its old place
along side of gold, the equal of gold, at
the ratio of Is To 1. If the silverites
could convince the reason of the oppO-
Sltion that this would be the result
and that gold and silver would circu-
late side by side as primary, standard |
money the fight would be won. Here |
Is the rule. The gold men concede the !
benefits that would come of such a |
financial condition. but deny that the |
result would be as the silveriteS argue. |
The gold standard men make no argu- !
ment against imitation, against the con- |
ditiOn sought 10 be produced by the |
silyeriteS, but aver that free coinage |
would not produce such a condition.
Briefly stated the arguments of the |
gold men are: First, cheaper money /
drives out the dearer: second. COM |
merce fixes the value of coin not law;
third, free coinage of silver by the I
United States alone would not restore
the value of silver at S1.29 per ounce;
fourth, that the monetary ratio IS never
exactly the actual ratio, as proof that
commerce and not law fixes the value
OF coin; fifth, that the free coinage by
nations Ike Mexico prove that the
value would not rise 10 the ratio OF Is |
10 /; sixth, that gold would leave Us. in
which case the result would be silver
recommendation, wherein the purpose Of
the SilveriteS would be defeated. The
point TO be observed by the fair mind in
this argument il that the gold man
offers no resistance 10 the aim OF the
silverite, but claims that free coinage
would produce the result contended for
by him. The question is over tie of-
fciency Of the remedy, and not the
aim Of the remedy.
Now it may as well be conceded that
i the free coinage does not raise The
price OF silver ISL il is on a parity with
gold ~ the coinage ratio the result
would be to drive out gold. II Is true
thar The cheaper money drives out the
dearer, and the silyerite must meet the !
Of the restoration OF he value
OF silver 81 the ratio OF 16 toI There
- 10 use 10 grow impatient because
here Is the real point in dispute. The
question has never been debated IA
congress or on the stump. bur the bone
Of eontenioD-the real contenton-has
been upon this point. It viii serve no
good purpose to accuse the gold man
Of inSinceriry and ~ being under the
diciation OF Wall street and the money
hogs because he refuses 20 concede
that law regulates the value OF coia or
that 81 unlimited demand offered BIZ
free coinage would restore the old valae
OF silver. Hard names aad had ten
pr viii not convince the reason
To accuse The one side "a being the
tools OF Wall street and the other TOE