The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1896-08-14

the French currency law and tends to
maintain both gold and silver more
wise be. x At any moment the
standard of value is doubtless one met
al or the other; and not both; yet the
fact that there is an alienation tends
to make each very much less then it
would otherwise do. 1t cannot pre-
vent both metals from falling or rising
in value compared with other commo-
dities, but it can throw variations of
supply and demand over large area,
instead of leaving each metal to be eff
eeted lDereiy by its owsraccidents.
Imagine two reservoirs Of water,
each subject to Independent variations
of supply and demand. In the alb
sence of an connecting pipe the level
of the water in each reservoir will be
subject to its own fiuctuation only.
But if we open connection, the water
in both will assume certain mean
level and the effects Of any excessive
supply or demand will be distributed
over the whole area of both reservoirs.
The mass of metals. gold and silver,
circulating in Western Europe in late
years is exactly represented by the
water of these reservoirs. and the con-
Meeting pipe is the law of the seventh
Germinal. an NI.,which enables one
metal to take the place of the other as
an unlimited legal sender"
The views of Jevons were those of
Hamilton and Jefferson, as fully ap-
pears from the formers report on the
mint, which was concurred in bv jeff
erson and approved by Washington.
These far-secing statesmen took the
ground that 1--WE cannot afford to stand
on the single unit, and that our mints
should be kept open to free coinage of
both metals.
Unless .Jevons can bc shown to be
wrong and the fathers of our Republic
unwise or dishonest, then unit based
on both metals is the most stable, the
double standard is the best, and the
dollar coined hereunder is the honest
dollar.
1t is. of course. desirable that the
par of exchange between gold and sill
YER be maintained. and good reasons
exist for believing that the dual stand
ard, after slight temporary disturbance
es, this will he done. But trade can
be carried on and the level of prices
approximately maintained, in this
country, without this party. From
the standpoint of honesty, it is not the
par between money and commodities,
that is essential. The double standard
is not only the honest standard. but
the best for ill parties, including the
great majority of creditors. Honesty
is ever the best policy, and the world
is beginning to appreciate this truth,
which is dawning even upon Europe.
The Hon. Evelyn Hubbard, of Eng
land, voices the sentiment of the return
ing sense of justice when he says:
"Many of us are beginning to realize
the truth of the remark that it is bet
ter to have silver debtor who pays
You than gold debtor who does not
The United States has borrowed
enough, and it is high time she was
using the silver of her own mines to
develop enterprises and to create
wealth, which is the best protector of
the public credit. The debts of the
world are estimated at 500. .000, ,000, 900
and that of the United States, public
and private, at $50 900 900 900, while
all the gold money of the world is only
81 ,OOO, 100000. The weight Of debts
and taxes imposes Il burden too heavy
to be borne on the basis of single
gold standards II standard which is dead
ening trade, sitting commerce, making
labor idle. killing hope and kindling
despair Senator Allison believes that
the world viii, soon return to the dou-
BILE standard. and that the ratio will he
l55 to instead of lG to |. Let us has
ten the time and by leading the way
enlighten the world. 1t is best, it is
honest, and the prestige and glory will
be ours.-.Nr.c Inrk Jonrnn/.