The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-09-18


a legal tender in the payment OF debts. II is
the system founded by that great conservative
statesman and fnaneier, alexander Hamll-
operation OF the father of Democracy, IhomAs
Jefferson, and the other early statesmen
In June last the Republican party assembled
In National convention at ST. Louis no!nl-
mated its candidates for President ana VICE
President and adopted a platform OF prlncl-
pies. II is the first squsre declaration IN any
platform in favor OF the single standard and
in opposition to the use OF silver as Iawlnl
money. Silver is not "standard money now,
but 1t is measured by gold; We have the goio
standard alone, and the Republican party in
its platform demands its maintenance in VIOLA
ton OF all the past teachings and policy ana
u violation of the constitute
Again say we are Democrats and we are not
revolutionists Revolutionists, rather apply
the term TO those engaged In the atIempt , 70
destroy one-half the money OF the world,
thereby, as Baron Rothschild said, accomplish
ing destruction of values without any COM
pensation, Than 10 us who are trying 10 return
10 the monetary system which prevailed in
our country for more than eighty years, sys-
tenn founded and approved by Hamilton, JET
ferson and all the early statesmen OF the Re
But it is also charged that we are repudia-
tionists.
dollar to be used in the payment OF debts.
Our answer is that return to the system OF
bimetsllism which existed prior to 1873
means that gold and silver shall be kept at
parity of value according to. the legal ratio.
Why was it that the bullion value remained
stable before 1873, ana began TO vary after
that date? Not because of the increased Iela-
tive position of silver. There were much
widervar iations in the relative production of
the metals before 1873 than there have been
since At one period the production of gold
was rs per cent less than that of silver; at an
other period it was more than 200 per
cent greater. AT one time silver coinage al
most ceased.
But all during this almost 100 years there
was never q moment when melted silver
dollar of the United States would not bring
more than dollar in gold in the worlds
market The use OF gold and silver is almost
entirely monetary one. People for ages
have used both for money. Neither silver nor
gold has any intrinsic value.
Their value is artificial-caused by human
desire. That desire is caused by their none
tary use, and that alone. The value OF gold
rests in the confidence that men have IN
Government that will recognize its monetary
use and stamp it as money. While men had
that same confidence in silver, 1t was valua-
Bile when melted as when coined, just as gold
has continued to be. 1t was because the Gov
eminent withdrew that recognition, discr i'm
mated against silver and refused TO coin or
recoin it, that people lost faith in silver, and
its value as compared with gold deprecated.
The value of gold dol ar rests alone on the
faith of the Government, ana under restored
bime tallism the value of silver dollar would
rest on the same basis.
but say our opponents, "the production
OF silver has been SO great, owing to new dis
coveries and improved mining methods, that
its value mas been destroyed and we shall have
q flood of silver ii we open our minis 70 its
free coinage at the ratio of 10 to In
The ratio of Is to 1 was established more
than sixty years ago after a careful estimate
which showed that there was in weight just
about sixteen times as much silver as gold in
the world. The proportions OF values have
not materially changed. The director of the
mint has issued table showing the amount
in ounces Of production OF silver in weight
since that time has been little more than six-
teen times that of gold. But for hundreds of
years men have been accommodating great stocks
of gold and silver which have become so enor-
nous that the production of any one year, or
i've years, or ten years, can have but slight
effect on their relative value.
1t was not increased production of silver, bur
it was legislation, and that alone, that caused
the depreciation OF silver. Decentralization by
France and Germany and the United States
caused silver 10 fall in value. The repeal OF
the sherman law ana The closure OF the Indian
minis caused so great and sudden decline as
TO clearly show the relation of cause andeffect.
Itwas not increased production but destruc.
ton OF demand Tor Tree silver that &c used its
fall IL value.
Now we claim that what legislation de-
stroyed, it can restore. We entered on the road
to gold recommendation by legislation. Finding
that we made a mistake, let us turn back to
our starting point That is the true meaning
OF our platform. The consequences of our mis-
take has been most disastrous Ever since
1873, prices of every thing have fallen proper.
tionately with silver. A dollar in gold to-day
Will buy twice as many common commodities
as 1T would prior to 1873 1t will buy twice as
much land. Farms have shrunk nearly one
half. But the mortgages have not sbrunk nor
the taxes. nor the notes, nor other evidences
Silver has not deprecated, but has remained
stable as compared with other property. Gold
has appreciated, its purchasing power has
Talk Of an honest dollarl An appreciated
dollar is just as dishonest as deprecated
one. Our opponents even appeal TO the labor.
ing man engaged in other avocations ana tell
him that the reconciliation of silver is
scheme to raise values in the interest of the
farmer alone; that it will result in raising
the cost OF living without corresponding in
crease in wages But let US consider who they
are who make this appeal. Every monopolfst.
every oppressor OF labor, Is engaged with
Mark Hanna in forwarding your Interests by
keeping down values aud prices for your
VINO is Mark Hanna? Go ask the sailors on
the Great Lakes, the men whom his organized
thugs in Cleveland shot and beat and starved
into submission. Go ask the miners of Ohio,
Michigan and West Virginia. Every dollar OF
the millions which he has accumulated is
tainted with the sweat and blood of oppressed
and down trodden labor. He glories in the
fact that his money aud his work secured
Major McKinley's nomination, and he ex-
poets them to secure his election. With
monopOlies and railroad corporations, 1t is
their boast that their money and their power
cannot be beaten. These are the men who are
so Jealous OF the interest of labor. No, my
friends our interests are all bound up to-
gether. For twenty years we have had con.
stantly falling prices But let prices begin 10
rise and capital will come from its hiding
places and seek investment in profitable en-
terprises. When Jesus of Nazareth scourged
Inc mOney-chauSefS from the temple, when he
denounced the Jewish hierarchy, charging
them with binding heavy burdens too griev-
Gus to be borne, he was denounced as a reyo-
lutionist and anarchist; when the people of
the American colonies protested against the
unjust taxation Of Great Britain they were
denounced as revoiutionists; when Richard
Golden led his crusade against the unjust and
oppressive corn laws of Great Britain he was
denounced as revolutioniss; whsn William
H. Seward pronounced that this Nation could
not endure half slave and half free
he was denounced as q revolutionist; when
Abraham Lincoln issued the proclamation
which struck the letters from the limbs of
millions OF slaves he was denounced AS a revo-
lutionist.
The cry of revolutionist and anarchist has
always been raised whenever man has pro-
tested against existing abuses in government
and social order. But reforms have sue
ceeded, in spite of the intolerance and perse-
cution OF men high in power and social posi-
ton.
If we will be true to our principles, true to
our convictions and go maliully forward to
The battle, we shall succeed in making this a
Government OF the people, by the people and
Tor the people, instead of q Government of
trusts and monnpolies, by trusts and monopo-
lies aud for the benefit of trusts and monopo-
lies.
Chairman RockWellis sneech WAC an