Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1896-08-22

is an actual necessity for bmetallism as |
well as a theoretical defense. We CON
tend that the free and unlimited coinage !
by the United States alone will raise the
bullion coinage of silver to its coinage |
value, and thus make silver bullion worth |
S.29 per ounce in gold throughout the
world.
In Keeping with Natural Laws.
This proposition is In keeping with |
natural laws, and not in defiance of them. !
The best known law of commerce is the
law of supply and demand. We recognize
this law and build our argument upon 1t.
The question upon which international
bimetallists and independent bmetallists
differ is: That The free and unlimited
coinage of silver at the present. legol ratio
will create a demand for silver which,
taken in connection with the demand al
ready in existence, will be sufficient TO
utilize all the silver that would be pre-
scented at the mints. They agree in their
defense of the bimetallic principle, and
they agree in the unalterable opposition
to the gold standard. International BIZ
metallists can not complain that tree
coinage gives benefit to the mine own
er, but international bimetallism gives to
the owner of silver all the advantages OF
fered by Independent bimetallsm at that
ratio. International bimetallists can not
accuse the advocates of free silver OF
being bullion owners who desire TO raise
the value of bullion, or debtors who de-
sire to pay their debts i'll cheap dollars,
or demagogues who desire to curry favor
with the people.
"rhey must rest their opposition on the
ground only, namely, that the supply or
silver available for coinage is too large
| to be utilized by the United States. II
! our mines are opened to free and unllm-
tied coinage at the present ratio, mer-
! chandise silver can not come here. The
| labor applied to it has made 1t worth
more in the form of merchandise than u
will be worth at our minis. We can not
! even expect all of the product of silver,
! because India, China Japan and Mexico
and all other silver using countries must
satisfy their annual needs from the an
nual products. The arts will require a
large amount, and standard countries viii
need a considerable quantity for subsldi'
airy coinage. We will be required TO cor
that which is needed here and not needed
elsewhere, but II we stand ready TO take
and utilize all of it, other nations Will b'
compelled to buy a. the price which we
fix.
Measured by Gold.
Some of our opponents attributed the
fall in the value of silver when measured
by gold to the fact that during the last
quarter of a century the worlds supply
of silver has increased more rapidly han
the worlds supply of gold. This argu-
ment is entirely answered by the fact
that for the last five years the annual
production of gold has increased more
rapidly than the annual production of sill
yer. Our opponents can not ignore the
fact that gold is now going abroad. in
spite of all legislation to prevent it, and
no silver is being coined to take its place.
| There is only one way TO stop the in
! creasing flow of gold from our shores,
and that is to stop the falling prices. The
restoration of bimetallism will not only
stop the falling prices, but will to some
! extent restore prices by reducing the
worlds demand for gold.
! Tine charge OF reputation comes with
poor grace from those who are seeking
to add to the weight of existing debts
/ by legislation which makes money dear
er. and who conceal their designs against
| the general welfare under the euphonious
/ pretense that they are upholdng public
! credit ana national honor. IN answer to
/ the charge that gold Will go abroad, it
must be remembered that no god can
,eave this country until the owner OF
gold receives something in return for it
which he would rather have. In other
words, when gold leaves the country,
those who formerly Owend it will be ben
Gifted There is no process by Whiah
We can be compelled to part with our
gold against our will, nor is there any
process by when silver can be forced
upon us without our consent.
.In reDlV 70 the argument shat i'm