The herald., 1896-11-03

ognize this law and build our argument
upon 1t. We apply this law to money
when we say that a reduction in the
volume of money will raise the pur-
chasing power Of the dollar; we also
apply the law of supply and demand to
silver when we say that new demand
for silver created by law will raise the
price Of silver bullion.
They err in supposing that we have
reached the end of the evil results of a
gold standard; we have not reached the
end. The injury is continuing one and
no person can say how long the world
is to suffer from the attempt to make
gold the only standard money.
Perhaps the most persistent misrep-
resentation that we have to meet is
the charge that we are advocating the
payment of debts in 5o-cent dollars. At
the present time and under present laws
silver dollar, when melted, loses nearly
when We again establish a mint price
for silver and leave no surplus silver
upon the market to drag down the price
of bullion. Under bimetallism silver bull
lion will be worth as much as silver coin.
just as gold bullion is now worth as much
as gold coin, and we believe that Sill
yer dollar will be worth as much as
gold dollar.
Any legislation which lessons the
worlds stock of standard money in
creases the exchangeable value of the
dollar; therefore, the crusade against sill
yer must inevitably raise the purchasing
power of money and lower the money
value of all other forms of property.
Wage-earners knoV that while gold
standard raises the purchasing power 6f
the dollar it also makes it more difficult
to obtain possession of the dollar; they
know that employment is less perma-
nent, loss of work more probable and re-
employment less certain.
What is the test Of honesty in money!
1t must certainly be found In the pur-
chasing power of the dollar. An abso-
lutely honest dollar would not vary in
its general purchasing power; it would
be absolutely stable when measured by
average prices. A dollar which increases
in purchasing power is just as dishonest
as dollar which decreases In ptrchas-
ing power.
If. in November, the people by their
ballots declare themselves in favor Of
the immediate restoration of bimetal-
lism, the system can be inaugurated
within a few months.
Honest differences of opinion have al
ways existed, and ever will exist, as to
the legislation best calculated to pro-
mote the public veal; but, when it is Sc
riously asserted that this nation must bow
to the dictation of other nations and ac-
cept the policies which they insist upon,
the right of self-government is assailed.
and until that question is settled all
other questions are insignificant.
A monetary system which is pecun-
iarily advantageous to a few syndicates
has far less to commend it than sys-
tenn which would give hope and encour-
g cement to those who create the nations
wealth.
If the double standard will bring ben
efits to our people, who will deny them
the right to enjoy those benefits? If our
opponents would admit the right, the
ability and the duty of our people to act
for themselves on all public questions,
without the assistance and regardless Of
the wishes of other nations, and then
propose the remedial legislation which
they consider sufficient, we could meet
them in the field of honorable debate;
but when they assert that this nation is
helpless to protect the rights of it's own
We challenge them to submit |
the issue to a people whose patriotism
has never been appealed to in vain.
Threats and intimidation will be of no |
avail. The people who, in 1776 rejected |
The doctrine that kings rule by right IL
vine, will not, in this generation. SUBJ I!
scribe to the doctrine that money is ON |
nipotent.
1t is not strange that those who have |
made a profit by furnishing gold to the /
government in its hour of extremity IA
vor a financial policy which will keep |
the government dependent upon them.
If they ask US here why it is that we |
say more on the money question than |
We say upon the tariff question, reply |
that If protection has slain it's thousands, |
the gold standard has slain its tens OF |
thousands. If they ask us why we did |
not embody all these things in our plat |
form, which we believe, we reply to them |
that when we have restored the money |
of the constitution, all other necessary |
reforms will be possible, and that until |
that is done, there is no reform that can |
be ACCOMPLISHED