The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-11-01


interest on our bonds in coin and not
in gold, is ii not at least unfair after
having paid continually in gold, to
suddenly switch to silver without
warning and compel the acceptance
thereof when the face value of the
bonds themselSq~ at the present mo-
ment and for many years has been
the same as their value i'm gold? In
other words. is IL fair to the holder to
suddenly change his gold bonds or his
bonds as good as gold to mere silver
bonds?
"The question arose upon the as
sumption that gold and silver will not
be maintained at q parity. whereas
we insist that under the free and un-
limited coinage of silver at l6 to l we
shall maintain the parity between gold
and silver which will take all there Is
on the market. We will be able to
make the silver dollar as good as the
gold dollar. whether melted or coined
here or anywhere else in the world.
That is our contention and we cannot
admit the position assumed by the
question.
"rhe question makes another as
sumption. That is that the admins
tration having surrendered to the
holder of the obligation the option to
demand his kind of coin we shall not
assume the right which the law gives
to pay in either kind OF coin. 1t goes
upon the theory that because you have
given man an unfair advantage for
long time You must continue to give
him that advantage and not resume
the right to pay in either kind OF coin
When you maintain the parity between
af..1I s...I
holder of the obligation whether you
pay In gold or silver. but serves to
keep the two metals together.
'Bimetallism implies that the debt
or shall choose the coin of payment
Bonds issued by the United States call
for coin. The Matthews resolution in
1873 declared that this nation had the
right TO pay its coin obligations in
either gold or silver and that resolu-
ton has never been rescinded. The
president OF the United States has no
right TO change the laws of the land
and when he tries TO do II. the people
have a right TO stand by the law in
stead OF the administrations policy.
You will find that Mr.. Carlisle in
discussing this subject before the COM
mittee on appropriations on the 2lst OF
January. 1895. said IL the executive Of
ficers had in the beginning exercised
the right TO pay in either coin, IL would
have done no harm, but would have
worked well. but his contention was
that having established a precedent ii
would be necessary TO follow that pre-
cedent instead OF exercising the right
10 pay In either gold or silver We say
II the administration has surrendered
the rights the people have the sooner
another administration resumes those
rights the better for the people who
have been injured by the surrender OF
those rights.
Again let me say that we have sold
bonds payable In coin and purchasers
of bonds have made the difference In
price they pa.d, in some instances, be-
cause of our right TO pay In silver and
/ believe when the men who bought
bonds made the difference between coin
bonds and gold bonds and charged US
Tor the risk they took they cannot
csUnplain Ii we exercise the right TO
ray In either coin.
And then there Is another question:
Granting that silver and gold may
reach par, what rCason is there for
believing the wuges Of the wOrkingrnen
Will double as quickly? Have they ever
done so under similar circumstances
My friends. the trouble Is that un-
Ter the gold standard so many work
.rEmcn do not have the opportunity
30 earn any kind 0f dollars. Btpetal-
Ism restores prcsT 'ity and gives the
Vrridnrnan a chance to work a whole
week. insitead NJ bal. a week, and linen
iNuln1 for use rs a raise i'm wag :.
When two t0ls 70 ark ara looSlnG f'r
Hue man the vIc Iugnlr is mdrc
r'sprrous than t III uUd system
h c1mp-t tru -rg t. IE l1r 81.
-u- J5b. la gl f7nL Ga labor
0en have D H ~..Ie prp-P Is un-
Ger 4 system ware prices were Mt