The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-08-14


owning and mOney-changing classes andit
cannot stand for one day In any nation IN
the word. Il was fastened ON the United
States without discussion before the peopls
aud H. friends have never yet been Willing
70 risk verdict before the voters upon
that issue.
There can he no sympathy or coopera-
tiQn between the advocates Of 8 universal
gold standard and the advocates Of bimet-
allism. Between blmetalliam, whether
independent or International, and the gold
standard there 1. an impassable gulf, Il
this quadrennial agitation IN favor Of In
ternationRl blmetallism conducted IN good
faith, or do our opponents desire 10 main
tain the gold standard PERMANENTLY Are
they willing 20 confess the superiority of
double standard when Joined IN By the
trading nations of the world, OF do they
siill insist that gold IL the only metal suit.
able for standard money among civilized
na,ionsi II they are, In fact, desir0us Of
securing hlmetallism, we may expect
them 20 point out the evils Of a gold
standard and defend bimetalliam a. a sys-
tenn. II, on the other hand, they are bend
ing their energies toward the permanent
establishment; Of a gold standard under
cover u a declaration In favor Of interna.
iiunhl bimetallism, ] am justified IN sug-
gesting that honest money cannot b. ex-
pected AZ the hands Of those who deal dis
honestly with the American people What
Il the test Of honesty IN money! Il must
certainly b. sound IN the purchasing power
Of the dollar. An absolutely honest dollar
would not vary In it, general purchasing
power; Il would b. absolutely stable when
measured by average prices A dollar
which Increases In purchasing power IA
just a. dishonest a. q dollar which de
crcases In purchasing power.
/ Professor lAughlin, now Of the Uni
versity OF Chicago, and one of the highest
, gold standard authorities, IN his work on
bimetallism not only admits that gold does
I not remain absolutely stable In value. but
I expressly asserts that there u no such
Z thing a. a standard of value Tor future
/ payments, either IN gold or silver, which
I remains absolutely invariable. He even
suggests that a multiple standard wherein
/ the unit Il tased upon the selling price of
a number Of articles q general consump-
tlon would be a more Just standard than
| either gold or silver OF both, because a
longtime contract would thereby be paid
AZ L. maturity By the same purchasing
power a. was given in the beginning"
II cannot BE- successfully claimed that
monomotallism or blmetallism or any 9TH
or system gives an absolutely Just standard
I Of value. Under both monometalllsm and
n
weight and fneness of the dollar, invests Il
with legal tender qualities and then opens
the mints 20 IT, unrestricted coinage, leav-
ing the purchasing power of the dollar 10
b. determined ~ the number OF d0llars.
Bmetallism l. better than monometallism,
not because Il gives us a perfect dollar
that i dollar absolutely unvarying In It's
general purchasing p0wer-but because Il
makes a nearcr approach 20 stability, 10
honesty, 10 justice than gold standard
possibly can.
Prior 10 is59, when there were enough
open mints 90 permit all the gold and ST.
yer available for coinage 20 find entrance
into the worlds volume Of standard
money. the United States might have
maintained a gold standard with less In.
Jury to the people of this country but
now. when each step toward \ universal
guld standard enhances the purchuainn
power gold dcpresses prices and transfers
10 the pocket u the creditor class an un
earned increment the influence OF thi.
grrat nation must not be thrown upon the
side Of gold unless We ae prepared 20 20
J cept the natural and legitimate conse.
quence of such an act. Any legislation
/ which lessens the worlds stock Of standard
money increases the excangcable value u
the dollar. therefore the crusade against
silver must Inevitably raise the purchas
ing power ~ money and lower the money
value Of all other forms Of property.
Our opponents some times admit that L
was a mistake 20 demonetixe silver, but
insist that We should submit 20 present
! conditions rather than return 90 the b.
metallic system. They err IN supposinf
that We have reached The end Of The eyil
results u gold standard; we have moi
rcached the end. The injury u q c0ntinu
. the world u 20 suffer from the attempt 4
J; make gold the only standard money. Th'
same influences which arr now operatinl
todestroy silver In the United States vii
II successful here. b. turned against othel
silver using countries and each new con
vert 20 the gold standard will add 20 tn
. general distress So long a. the scramble
: Tor gold continues prices must fall. and |
!. general fall In prices Il but another dehni
!. ton Of hard times.
Our opponents while claiming entire dis
interetedness for themselves have appeal
"a % the selhahness % nearly every clas
: of people Recognising the disposition o
e the Individual voter % consider the edcc
4 Of any proposed legislation upon himsel
We present 20 the American people the 4
n nancial policy outlined Ia the Chicag
platform believing that II will result In th
greatest good TO the greatest number.
The farmers are opposed 20 the gnl
. standard because they have felt ita effects
since they zell az wholesale and buy AZ N
. tail they hayc Lost more than they hay
h gained BY falling prices and besides hi
Il they have found that certain hxed charge
|. have not fallen az ALL Taxes have nc
been perceptihly decreased, although pei
ceptihly Increased. although Il require
l. more ol farm products now than formerl
y to secure the money with which 20 Pc
N taxes Debts have not fallen. The farme
=. who owed 1900 Il still compelcd % pa
5000, although u may be twice ~ diflicul
= a. formerly 90 obtain the dollar Wit
Y which to pay the debt Railroad rates hav
I, not been reduced 10 keep pace with fallin
y prices Beside these items therc are man
i more. The farmer has thus found con
ls plant against the gold standard. ~
q wagcearnrrx have been iniurcl BY gol
IN standard and have expressed thomselv.
= on the subject with great emphasis.
February lNa. u petition asking for u
immediate restoration uf the frcc aud al
~ limited coinage of gold and silver at l6
D. I was signed hy the representatives Of a
or nearly all the leading labor orFaniE
d. tions aud presented 20 congress. Wag
i earncrs know that while gold standaI
!. raises the purchasing power u the doll
=. Il also makes Il more dliiieut 70 ohtsl
L IfiNNNNrNlNM NN NNN NNlAAtf ANNN hNM" -
- employment Il less permanent, loss
work more probable and regmploymel
less certain
A gold standard encourages the hoar
" ing II money because money Il rising,
he also discouraccs enterprises and pafalyE
"a industry. ON the other hand the rrsior
!, tion III himetallism will discourage hoar
ing, because when prices are steady or y
ing, money cannot afford 10 lie Idle In q
~ hank vaults The farmers and wagesar
in crs together constitute considerable NJ
e, jority of the people of the country. WI
II. should their Interests be ignored In consi
A. cring financial legislationi A moneta
NJ system which II pecuniarily Advantageol
- 10 few syndioates has FAR less 70 Coz
mend Il than system which would vi
ne hope and encouragement 10 those who q
Y, ate the nations wealth.
Il Our opponents have made a special q
q peal TO those who hold fire and lie insy
n ance policies, but these pollcyholders Int
y that since the total prclnluma recelved I
II. cccd the total losses paid. rising stands
a. A.. a.